Market Overview - The stock market is showing positive momentum as April closes, driven by hopes of easing trade tensions between China and the U.S. [1] - May presents a fresh opportunity for investors, particularly in penny stocks, as optimism around trade tariff resolutions builds [2][6] Company Analysis: Compass Therapeutics (NASDAQ: CMPX) - Compass Therapeutics has demonstrated strong stock performance in 2025, with a year-to-date increase of over 38%, currently trading at $1.94 [3][5] - The company is advancing its clinical pipeline, particularly with CTX-10726, a PD-1 x VEGF-A bispecific antibody, and plans to submit an IND by the end of 2025 [5][7] - Analysts predict a significant upside for CMPX, with a consensus "Buy" rating and an average price target of $12, indicating a potential increase of 527% over the next year [7] Company Analysis: Blade Air Mobility (NASDAQ: BLDE) - Blade Air Mobility operates a technology-enabled air transport platform, focusing on medical and passenger transportation, with expected double-digit growth in its medical business in 2025 [8] - The company has strengthened its financial position, achieving positive cash flow and maintaining a debt-free balance sheet with $136 million in cash, allowing for fleet growth and potential share buybacks [9] - Despite a recent rally of over 4% to $2.71, BLDE is down over 36% year-to-date, but analysts remain optimistic, forecasting a 117% upside with an average price target of $5.83 [9][11]

Group 1 - Blade Air Mobility's business is progressing positively, but it has not yet attracted significant investor attention [1] - The company's Q4 results showed weaknesses, particularly in guidance amid a challenging demand environment [1] - Narweena, an asset manager, focuses on identifying market dislocations and believes in achieving excess risk-adjusted returns through secular growth opportunities [1] Group 2 - Narweena's research emphasizes company and industry fundamentals to uncover unique insights, targeting deeply undervalued stocks [1] - The firm has a high risk appetite and a long-term investment horizon, favoring smaller cap stocks and markets with less obvious competitive advantages [1] - The aging population and low growth rates are expected to create new investment opportunities, while many industries may face stagnation or decline [1] Group 3 - The economic landscape is shifting towards asset-light businesses, reducing the need for infrastructure investments over time [1] - A large pool of capital is pursuing a limited set of investment opportunities, leading to rising asset prices and compressed risk premia [1] - Richard Durant, the leader of Narweena, has a strong educational background in engineering, finance, and an MBA, along with passing the CFA exams [1]

Financial Data and Key Metrics Changes - Blade Air Mobility achieved its first full year of adjusted EBITDA profitability with a $17.8 million year-over-year improvement in adjusted EBITDA for 2024 [8] - Revenue, excluding Canada, increased by 22.1% in Q4 2024 compared to the prior year, while Q4 flight profit rose by 40% year-over-year [9][10] - The company reported $127 million in cash and short-term investments at the end of 2024, with no debt [20][29] Business Line Data and Key Metrics Changes - Passenger segment adjusted EBITDA margin expanded by over 16 percentage points year-over-year, approaching break-even, driven by a 630 basis point improvement in flight margin and an 18% reduction in adjusted SG&A [23] - Medical revenue rose 13.7% year-over-year to $36.4 million, with adjusted EBITDA margin improving by over 700 basis points to 15.1% in Q4 2024 [24][26] - The passenger segment achieved $3.6 million of adjusted EBITDA for the full year 2024, an increase of $8.6 million versus the prior year [11] Market Data and Key Metrics Changes - The company noted a 2% sequential decline in heart, liver, and lung transplant volumes in Q4 2024 compared to Q3 2024, which was less than anticipated [25] - Early results from European restructuring showed strong year-over-year revenue growth and profitability improvement during the winter ski season [14] Company Strategy and Development Direction - Blade is focused on maximizing growth in Urban Air Mobility, particularly through its New York City airport transfer service, which saw high teens year-over-year revenue expansion in Q4 [10] - The company is transitioning to electric vertical aircraft (eVTOL) and is optimistic about the future growth opportunities in the organ transplant logistics market [10][41] - A strategic partnership with Skyports Infrastructure aims to enhance ground infrastructure for advanced air mobility, supporting the transition to eVTOL [14][16] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the medical segment's growth, anticipating double-digit revenue growth in 2025 despite some uncertainty due to recent transplant volume trends [32][41] - The company expects to generate positive free cash flow before aircraft acquisitions, although cash flow will be impacted by elevated maintenance spending on owned aircraft [40] Other Important Information - Blade introduced a new mobile app to enhance user experience, offering features like easy flight booking and trip management [16] - The company is preparing for the launch of two new transplant centers in April, which will contribute to revenue growth [18] Q&A Session Summary Question: What catalysts will drive growth in the two businesses? - Management highlighted continued savings in SG&A and the onboarding of new customers in the medical segment as key growth drivers [50][52] Question: When can eVTOLs be expected? - Management anticipates eVTOLs may be operational in the Middle East by early 2026 and in the US by late 2027 or early 2028 [56][57] Question: How is the European market performing? - Management reported significant cost reductions and positive revenue growth in Europe, particularly during the ski season [73][75] Question: What is the strategy regarding passenger margins? - The company is optimizing its schedule and pricing strategy to enhance profitability rather than simply increasing seat count [82][86] Question: How will maintenance impact the Medical segment? - Management indicated that elevated maintenance in the first half of 2025 is due to time-based requirements and will affect operating leverage [100][102]

Financial Performance - Blade Air Mobility, Inc. reported a quarterly loss of $0.13 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.12, but an improvement from a loss of $0.23 per share a year ago, indicating an earnings surprise of -8.33% [1] - The company posted revenues of $54.36 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 6.91%, compared to year-ago revenues of $47.48 million [2] - Over the last four quarters, Blade Air Mobility has surpassed consensus EPS estimates two times and topped consensus revenue estimates four times [2] Stock Performance - Blade Air Mobility shares have declined approximately 33.4% since the beginning of the year, contrasting with the S&P 500's decline of -4.8% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.13 on revenues of $52.87 million, and for the current fiscal year, it is -$0.27 on revenues of $257.88 million [7] Industry Outlook - The Technology Services industry, to which Blade Air Mobility belongs, is currently ranked in the top 30% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8] - The performance of Blade Air Mobility's stock may be influenced by the overall industry outlook, as empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions [5][8]

Business Operations - Blade acquired ten fixed wing aircraft dedicated to the Medical segment, expected to account for approximately 17% of total flight costs and nearly one-third of Medical segment flying [26][28]. - Approximately 47% of Blade's flight costs in 2024 were pursuant to capacity purchase agreements (CPAs) that included flight volume guarantees [28]. - The asset-light business model allows Blade to utilize third-party aircraft, creating a predictable and flexible cost structure while minimizing economic risk [24][25]. - Blade's competitive strategy focuses on technology-enabled services and a diverse fleet to lower costs and improve customer satisfaction in both passenger and medical segments [36][39]. - The company discontinued certain flight services, including by-the-seat jet flights between New York and South Florida, to streamline operations [26]. Technology and Innovation - Blade's proprietary technology stack enables real-time tracking of organ transports and passenger flights, enhancing operational efficiency and scalability [29]. - The company aims to leverage Electric Vertical Aircraft (EVA) technology to reduce operating costs and transition to quieter, emission-free air mobility [30]. - Blade's MediMobility Organ Transport service includes logistics coordination and support for evaluating potential donor organs, enhancing efficiency in organ transportation [23][27]. Workforce and Employment - The company has a total of 322 employees, with 199 in the Medical segment and 91 in the Passenger segment, indicating a strong operational workforce [40]. Regulatory Compliance - Blade's operations are subject to various regulatory environments, including compliance with the U.S. Department of Transportation and Federal Aviation Administration regulations [41]. - The company is subject to various federal, state, and local environmental laws, including regulations on the discharge of materials and aircraft noise [57]. - The company must comply with HIPAA regulations regarding the handling of Protected Health Information (PHI), which includes implementing safeguards to ensure confidentiality and integrity [51]. - The company may face penalties under HIPAA for failing to comply with privacy and security regulations, including potential fines and lawsuits [51]. - The company is required to notify affected individuals and authorities in the event of a breach of unsecured PHI, particularly if it affects 500 or more individuals [51]. - The company is subject to fraud and abuse laws, including the federal Anti-Kickback Statute, which prohibits certain financial relationships that could influence referrals for healthcare services [53]. - Violations of fraud and abuse laws could result in significant civil and criminal penalties, including exclusion from federal healthcare programs [56]. - The company must provide specific notices to users regarding data collection and processing under regulations like GDPR and CCPA [49]. - The company is required to appoint a data protection officer to ensure compliance with GDPR regulations [48]. Company History - The company was previously known as Experience Investment Corp. and changed its name to Blade Air Mobility, Inc. after acquiring Blade Urban Air Mobility, Inc. in 2021 [58]. Financial Information - The company’s financial reports and other important information are available on its Investor Relations website and are filed with the SEC [59].

Blade Air Mobility, Inc. (NASDAQ:BLDE) Q4 2024 Earnings Conference Call March 13, 2025 8:00 AM 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 Ben Klieve - Lake Street Capital Markets Operator Good morning, ladies and gentlemen, and welcome to the Blade Air Mobil ...

Financial Performance - Q4 2024 revenue increased by 14.5% to $54.4 million compared to $47.5 million in Q4 2023, with a 22.1% increase excluding Canada[11] - Full-year net loss improved by $28.8 million to $(27.3) million in FY 2024, while Adjusted EBITDA improved by $17.8 million to $1.2 million[5] - Total revenue for the year ended December 31, 2024, reached $248,693,000, up from $225,180,000 in 2023, reflecting an increase of 10.4%[26] - Revenue for Q4 2024 was $54,357,000, an increase of 14.5% compared to $47,478,000 in Q4 2023[26] - Adjusted EBITDA for the year ended December 31, 2024, was $1,205,000, compared to a loss of $16,633,000 in 2023, showing a positive turnaround[53] - Adjusted EBITDA for Q4 2024 was $(387) million, an improvement from $(5,248) million in Q4 2023[44] Segment Performance - Medical Segment Adjusted EBITDA increased by 119.6% to $5.5 million in Q4 2024, driven by 13.7% revenue growth[5] - Passenger Segment Adjusted EBITDA for FY 2024 was $3.6 million, an increase of $8.6 million year-over-year[5] - MediMobility Organ Transport revenue for Q4 2024 was $36,388,000, contributing significantly to the total revenue[57] - Medical segment revenue grew to $36,388 million in Q4 2024, compared to $31,991 million in Q4 2023, marking an increase of 13.0%[37] Cash Flow and Assets - Operating Cash Flow improved by $7.6 million to $(1.8) million in Q4 2024, with Free Cash Flow Before Aircraft Acquisitions increasing by $5.8 million to $(3.6) million[11] - The company ended FY 2024 with $127.1 million in cash and short-term investments[11] - Free Cash Flow for the year ended December 31, 2024, was $(27,307,000), compared to $(56,076,000) in 2023, indicating an improvement[30] - Cash and cash equivalents at the end of Q4 2024 were $18,378,000, down from $27,873,000 at the end of Q4 2023, a decrease of 34%[24] - Total current assets decreased to $160,742,000 as of December 31, 2024, down from $206,261,000 in 2023, a decline of 22%[24] Loss and Expenses - Net loss for Q4 2024 was $(9,793,000), an improvement from $(33,941,000) in Q4 2023[26] - Operating expenses for Q4 2024 totaled $62,729,000, a decrease of 24.5% compared to $83,111,000 in Q4 2023[26] - Total operating expenses for Q4 2024 were $62,729 million, down from $83,111 million in Q4 2023[50] - Adjusted SG&A for Q4 2024 was $13,618 million, a slight decrease from $14,338 million in Q4 2023, with SG&A as a percentage of revenue improving to 25.1%[50] Future Outlook - The company expects revenue for FY 2025 to be between $245 million and $265 million, with double-digit millions of Adjusted EBITDA[15] - The company is focused on expanding its fleet and entering new markets, with plans for future product lines and partnerships[60] - New mobile app launched in March 2025 to enhance user experience and flight booking[15] Operational Changes - The company discontinued operations in Canada on August 31, 2024, which may impact future revenue comparisons[22] - Total liabilities decreased to $34,737,000 as of December 31, 2024, down from $60,638,000 in 2023, a reduction of 42.7%[24] Flight Performance - Flight Profit rose by 39.7% to $12.6 million in Q4 2024, with Flight Margin improving to 23.2% from 19.0% in the prior year[11] - Total flight profit for Q4 2024 was $12,589 million, a significant rise from $9,010 million in Q4 2023, reflecting a 39.5% increase[44] - The flight margin improved to 23.2% in Q4 2024, compared to 19.0% in Q4 2023[44] Revenue Breakdown - Passenger revenue increased to $17,969 million in Q4 2024, up from $15,487 million in Q4 2023, representing a growth of 16.0%[37] - Short Distance revenue decreased by 14.7% to $9.1 million in Q4 2024, but increased by 17.7% excluding Canada[11] - Revenue excluding Canada for Q4 2024 was $54,357 million, a 22.1% increase from $44,536 million in Q4 2023[35] - Short distance revenue decreased to $9,133 million in Q4 2024, down 14.7% from $10,703 million in Q4 2023[35]

Full-year net loss improved by $28.8 million versus the prior year to $(27.3) million in FY 2024; Adjusted EBITDA improved by $17.8 million versus the prior year to $1.2 million in FY 2024(1)Full-year Passenger Segment Adjusted EBITDA of $3.6 million in 2024 represents an $8.6 million increase versus the prior year Q4 revenue increased 14.5% versus the prior year to $54.4 million in 2024. Excluding Canada, which we exited in August 2024, revenue increased 22.1% versus the prior year period(1)Net loss improv ...

Pilot program to inform Skyports and Blade about commuter demand, ground operation best practices and consumer experience ahead of eVTOL deploymentNEW YORK, March 10, 2025 (GLOBE NEWSWIRE) -- Blade Air Mobility, Inc. (Nasdaq: BLDE, “Blade”), a technology-powered global air mobility platform, and Skyports Infrastructure (“Skyports”), a leading provider of ground infrastructure for advanced air mobility, announced an alliance today to launch a pilot program that will expand Blade’s existing by-the-seat helico ...

Core Points - Blade Air Mobility, Inc. announced the opening of a shareholder Q&A platform for its upcoming conference call to discuss financial results for Q4 and fiscal year ended December 31, 2024 [1][2] - The conference call is scheduled for March 13, 2025, at 8:00 am ET [1] - Shareholders can submit and upvote questions until March 12, 2025, at 9:30 am ET [2] Company Overview - Blade Air Mobility provides air transportation and logistics services, primarily for hospitals in the U.S., and is a major transporter of human organs for transplant [4] - The company operates helicopter and fixed-wing services mainly in the Northeast U.S. and Southern Europe [4] - Blade's asset-light model and exclusive passenger terminal infrastructure aim to facilitate a seamless transition to Electric Vertical Aircraft (EVA or eVTOL), promoting lower-cost, quiet, and emission-free air mobility [4]