Group 1 - The article initiates coverage on Blade Air Mobility (NASDAQ: BLDE) with a "Buy" rating and an investment horizon of 24 months, indicating a positive outlook for the company [1] - Blade Air Mobility is described as having a unique business model, suggesting differentiation in its operations compared to competitors [1] - The stock of Blade Air Mobility is considered undervalued, presenting a potential investment opportunity [1]

Company Overview - Blade Air Mobility, Inc. is a provider of air transportation and logistics services, primarily for hospitals in the United States, and is one of the largest transporters of human organs for transplant [4] - The company offers helicopter and fixed-wing services mainly in the Northeast United States and Southern Europe [4] - Blade operates an asset-light model with exclusive passenger terminal infrastructure and proprietary technologies, facilitating a transition to Electric Vertical Aircraft (EVA or eVTOL) for lower-cost, quiet, and emission-free air mobility [4] Upcoming Events - Blade will host a conference call to discuss its financial results for the third quarter ended September 30, 2024, on November 12, 2024, at 8:00 am ET [1] - A shareholder Q&A platform has been opened for shareholders to submit and upvote questions for management ahead of the conference call, available until November 11, 2024, at 9:30 am ET [2] - The audio-only webcast of the call can be accessed from the Investors section of the company's website, with a replay available for one year [3]

Blade Air Mobility NASDAQ: BLDE is not only a stock with an interesting name, but it could also be a bigtime investment, according to Wall Street analysts. Its average price target of $7.30, implies this stock could provide a double bagger return or greater. Blade Air Mobility Today BLDE Blade Air Mobility $2.85 -0.06 (-2.06%) 52-Week Range $2.06 ▼ $4.24 Add to Watchlist However, the skies haven't been all that clear lately for the firm's share price. The company's three-year total return is -67%, and year ...

Core Insights - Blade Air Mobility, Inc. has announced an interline partnership with Qatar Airways, allowing seamless travel for passengers between commercial flights and BLADE helicopter services to Monaco [1][4] - The partnership enhances passenger experience, particularly during high-profile events like the Monaco Grand Prix, and aims to expand to other popular destinations in Europe and the U.S. [3][4] Company Overview - BLADE is a global Urban Air Mobility company focused on reducing travel friction by providing cost-effective air transportation alternatives to congested ground routes [5] - The company operates scheduled flights between key locations, including Manhattan and JFK, and Nice and Monaco, making it a leader in urban air mobility [5] Partnership Details - The collaboration with Qatar Airways allows passengers to book a single ticket for travel to Monaco, with additional services such as luggage check-in and expedited security at Nice Airport [1][3] - This partnership is part of BLADE's strategy to align with major air carriers, following recent partnerships with Emirates and JetBlue Airways [4] Industry Context - Qatar Airways has been recognized as the 'World's Best Airline' for the eighth time in 2024, highlighting its commitment to excellence in passenger service [6] - The airline operates over 170 destinations worldwide, connecting through its Doha hub, which has also received multiple accolades for its quality [8]

Nisian Hughes/DigitalVision via Getty Images Blade Air Mobility, Inc. (NASDAQ:BLDE) reported solid results in Q2, achieving its first positive adjusted EBITDA quarter as a public company. Medical revenue continues to grow and jet revenue bounced back in the second quarter. Overall growth is sluggish, though, as Blade has been pulling back from activities with questionable economics, creating a growth headwind. I previously suggested that while Blade's valuation was low, it was on a collision course with Tra ...

The flying car industry is evolving at a rapid rate due to the integration of various technologies and funding by corporations. By 2025, the sector is expected to grow tremendously with electric vertical take-off and landing (eVTOL) vehicles as the new generation of transport. These innovations aim to change the way people move around in cities, how disasters are managed, and even how healthcare is delivered to people in remote regions of the globe. As a result of some fears and anxieties in the market, the ...

Blade Air Mobility, Inc. (NASDAQ:BLDE) Q2 2024 Earnings Conference Call August 7, 2024 4:30 PM ET Company Participants Matthew Schneider - Vice President, Investor Relations and Strategic Finance Robert Wiesenthal - Chief Executive Officer William Heyburn - Chief Financial Officer Conference Call Participants Jason Helfstein - Oppenheimer Edison Yu - Deutsche Bank Bill Peterson - JPMorgan Jon Hickman - Ladenburg Thalmann Operator Good afternoon, ladies and gentlemen, and welcome to the Blade Air Mobility Fi ...

Group 1: Financial Performance - Blade Air Mobility reported a quarterly loss of $0.06 per share, which is an improvement from a loss of $0.11 per share a year ago, aligning with the Zacks Consensus Estimate [1] - The company posted revenues of $67.95 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 8.09% and up from $60.99 million year-over-year [2] - Over the last four quarters, Blade Air Mobility has surpassed consensus EPS estimates two times and revenue estimates three times [2][3] Group 2: Stock Performance and Outlook - Blade Air Mobility shares have declined approximately 21.5% since the beginning of the year, contrasting with the S&P 500's gain of 9.9% [3] - The current consensus EPS estimate for the upcoming quarter is breakeven on revenues of $75.71 million, while for the current fiscal year, it is -$0.17 on revenues of $245.79 million [7] - The estimate revisions trend for Blade Air Mobility is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6] Group 3: Industry Context - The Technology Services industry, to which Blade Air Mobility belongs, is currently in the top 40% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Financial Performance - Revenue for the three months ended June 30, 2024, increased by $7.0 million or 11%, from $60.99 million in 2023 to $67.95 million in 2024[138]. - For the six months ended June 30, 2024, revenue increased by $13.2 million or 12%, from $106.26 million in 2023 to $119.46 million in 2024[140]. - Total revenue for the first half of 2024 increased by $13.2 million or 12% to $119.5 million compared to $106.3 million in the same period of 2023[162]. - The net loss for the six months ended June 30, 2024, was $15.6 million, compared to a net loss of $22.4 million for the same period in 2023, indicating a 30.5% improvement[187]. - Adjusted EBITDA for Q2 2024 improved by $5.4 million to $1.0 million from $(4.4) million in Q2 2023[171]. - Adjusted EBITDA for the first half of 2024 improved by $9.6 million to $(2.6) million from $(12.2) million in the same period of 2023[174]. - The gross profit for the three months ended June 30, 2024, was $11.3 million, with a gross margin of 16.7%, compared to a gross profit of $5.1 million and a gross margin of 8.3% in the same period of 2023[184]. Revenue Breakdown - Short Distance revenue increased by $1.7 million or 9%, driven by greater activity in Europe and growth in New York airport transfer products[139]. - Jet and Other revenue increased by $1.3 million or 17%, primarily due to growth in jet charters, despite a $1.0 million decrease from the discontinuation of a seasonal service[139]. - MediMobility Organ Transport revenue increased by $3.9 million or 11%, driven by higher revenue per trip and new hospital clients[139]. - MediMobility Organ Transport revenue for the six months increased by $13.2 million or 22%, driven by new hospital clients and higher activity from existing clients[141]. - Passenger revenue for Q2 2024 increased by $3.0 million or 11% to $29.6 million compared to $26.6 million in Q2 2023[163]. - Medical revenue for Q2 2024 increased by $3.9 million or 11% to $38.3 million compared to $34.4 million in Q2 2023[165]. - Medical revenue for the first half of 2024 increased by $13.2 million or 22% to $74.4 million compared to $61.2 million in the same period of 2023[167]. Operating Expenses - Total operating expenses for the three months ended June 30, 2024, were $80.09 million, an increase from $73.20 million in 2023[135]. - Loss from operations for the three months ended June 30, 2024, was $(12.15) million, compared to $(12.21) million in 2023[135]. - General and administrative expenses for the three months ended June 30, 2024, increased by $6.7 million, or 37%, from $18.4 million in 2023 to $25.1 million in 2024, driven by a $5.8 million impairment charge related to Blade Canada[151]. - General and administrative expenses for the six months ended June 30, 2024, increased by $7.7 million, or 22%, from $34.7 million in 2023 to $42.3 million in 2024[152]. - Selling and marketing expenses for the three months ended June 30, 2024, decreased by $0.3 million, or 12%, from $2.7 million in 2023 to $2.4 million in 2024, primarily due to a decrease in sales commissions[154]. Cost of Revenue - For the three months ended June 30, 2024, cost of revenue increased by $1.0 million, or 2%, from $50.6 million in 2023 to $51.6 million in 2024, driven by increased flight volume[144]. - Cost of revenue as a percentage of revenues decreased by 7 percentage points from 83% in 2023 to 76% in 2024, primarily due to the use of owned aircraft and improved pricing in the Medical business[144]. - For the six months ended June 30, 2024, cost of revenue increased by $4.2 million, or 5%, from $88.7 million in 2023 to $93.0 million in 2024[145]. Business Model and Strategy - Blade's asset-light business model allows it to utilize third-party aircraft, which helps maintain a flexible cost structure and predictable margins[107]. - The company anticipates leveraging Electric Vertical Aircraft (EVA) technology to reduce operating costs and enhance service offerings, including the development of new vertiports[113]. - Blade's growth strategy includes attracting new fliers through marketing campaigns and expanding scheduled routes, which may require significant investments[114]. - The company expects to incur net losses in the short term as it continues to execute its strategic initiatives, but believes no additional capital will be needed to execute its current business plan over the next 12 months[191]. Technology and Operations - Blade's proprietary technology stack enables real-time tracking and management of flights, which is crucial for scaling operations and improving customer experience[112]. - The introduction of EVA is contingent on OEMs receiving necessary approvals from federal transportation authorities, with no current FAA-certified EVA aircraft for commercial operations[123]. Market and Competition - The organ transportation market is highly competitive, and Blade competes primarily on reliability and pricing, with significant demand fluctuations impacting operational costs[117]. - Inflation impacts the fixed hourly rates paid to third-party operators, which are renegotiated annually, and the company has historically passed through cost increases to customers[120]. Cash Flow and Liquidity - The company had total liquidity of $142.0 million as of June 30, 2024, down from $166.1 million at the end of 2023, consisting of cash and cash equivalents of $26.3 million and short-term investments of $115.6 million[186]. - The company incurred net cash used in operating activities of $7.1 million for the six months ended June 30, 2024, a decrease from $25.1 million for the same period in 2023[194]. - For the six months ended June 30, 2024, net cash provided by investing activities was $7.7 million, driven by $102.7 million from maturities of held-to-maturity investments[196]. - The company announced a stock repurchase program authorized by the Board of Directors, allowing for the repurchase of up to $20.0 million of common stock, with $0.2 million repurchased by June 30, 2024[190]. Aircraft and Capital Expenditures - The company has commitments to purchase flights from various aircraft operators with minimum flight purchase guarantees of $8.4 million and $13.8 million for the years ending December 31, 2024 and 2025, respectively[188]. - The company has a commitment to purchase an eighth aircraft for $3.4 million, expected to close by the end of the third quarter of 2024[189]. - The company acquired seven aircraft to support the Medical business, contributing to $17.0 million in purchases of property and equipment for the six months ended June 30, 2024[196]. - The company reported $1.1 million in capitalized software development costs for the six months ended June 30, 2024[196]. Accounting and Risk - There have been no material changes to significant accounting policies and estimates as of June 30, 2024[201]. - There have been no material changes in market risk from the previous annual report as of June 30, 2024[202].

Exhibit 99.1 August 7, 2024 Blade Air Mobility Announces Second Quarter 2024 Results • Highest quarterly Medical revenue since inception of $38.3 million in Q2 2024, a 6.4% sequential increase versus Q1 2024 • Highest quarterly Medical Segment Adjusted EBITDA since inception of $5.5 million in Q2 2024, up 82.7% versus the prior year period • First Q2 with positive Passenger Segment Adjusted EBITDA as a public company, improved by $2.9 million versus the prior year period | --- | --- | --- | --- | --- | --- ...