Core Viewpoint - Blade Air Mobility, Inc. reported a quarterly loss of $0.03 per share, outperforming the Zacks Consensus Estimate of a loss of $0.06, marking a 50% earnings surprise [1] Financial Performance - The company posted revenues of $74.88 million for the quarter ended September 2024, exceeding the Zacks Consensus Estimate by 0.56% and showing an increase from $71.44 million year-over-year [2] - Over the last four quarters, Blade Air Mobility has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [2] Stock Performance and Outlook - Blade Air Mobility shares have increased by approximately 8.5% since the beginning of the year, while the S&P 500 has gained 25.8% [3] - The company's near-term stock movements will largely depend on management's commentary during the earnings call [3][4] Earnings Estimates - The current consensus EPS estimate for the upcoming quarter is -$0.13 on revenues of $53.8 million, and for the current fiscal year, it is -$0.36 on revenues of $247.72 million [7] - The estimate revisions trend for Blade Air Mobility is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] Industry Context - The Technology Services industry, to which Blade Air Mobility belongs, is currently ranked in the top 26% of over 250 Zacks industries, suggesting a favorable industry outlook [8]

Revenue Growth - Total revenue increased by 4.8% to $74.9 million in Q3 2024 compared to $71.4 million in Q3 2023, driven by growth in Medical and Short Distance segments [9]. - Medical revenue rose by 7.8% to $36.1 million in Q3 2024, while Short Distance revenue increased by 6.5% to $32.4 million [10]. - Revenue for Q3 2024 was $74.877 million, compared to $71.442 million in Q3 2023, representing a growth of approximately 3.8% [25]. - For the full year 2024, the company expects revenue between $240 million and $250 million [1]. - For 2025, the company projects double-digit growth in Medical revenue and passenger revenue between $85 million and $95 million [1]. - Total revenue for the three months ended September 30, 2024, was $74,877 thousand, an increase of 4% from $71,442 thousand in the same period of 2023 [27]. Financial Performance - Adjusted EBITDA improved by $3.4 million year-over-year to $4.2 million in Q3 2024, primarily due to a $2.8 million increase in Passenger Segment Adjusted EBITDA [9]. - Adjusted EBITDA for the three months ended September 30, 2024, was $4,180 thousand, significantly higher than $787 thousand in the same period of 2023 [28]. - The company reaffirmed guidance for positive Adjusted EBITDA in 2024 and double-digit millions of Adjusted EBITDA in 2025 [1]. - The company's net loss for Q3 2024 was $1.954 million, a decrease from a net income of $0.289 million in Q3 2023 [25]. - Adjusted SG&A expenses were $16,169,000 for the three months ended September 30, 2024, compared to $14,863,000 in 2023, with SG&A as a percentage of revenue at 21.6% [33]. - Total operating expenses for the three months ended September 30, 2024, were $78,414,000, slightly down from $78,890,000 in 2023 [33]. Cash Flow and Assets - Operating Cash Flow increased by $4.3 million to $6.4 million in Q3 2024, with Free Cash Flow, Before Aircraft Acquisitions, rising by $2.4 million to $3.7 million [9]. - Cash and short-term investments at the end of Q3 2024 totaled $136.3 million [10]. - Cash and cash equivalents decreased from $27.873 million as of December 31, 2023, to $20.028 million as of September 30, 2024 [23]. - Net cash provided by operating activities for the three months ended September 30, 2024, was $6,355 thousand, compared to $2,023 thousand in the same period of 2023 [26]. - Free Cash Flow for Q3 2024 was $(3,562,000), a decrease from $1,328,000 in Q3 2023, while Free Cash Flow before Aircraft Acquisitions was $3,726,000, up from $1,328,000 [37]. Market Strategy and Growth Opportunities - A strategic alliance was announced with OrganOx to enhance access to their metra perfusion device, utilizing Blade's logistics for rapid deployment [1]. - The company is focusing on legal and regulatory advocacy costs, with $165,000 incurred in the three months ended September 30, 2024, compared to $217,000 in 2023 [35]. - Blade is focused on expanding its market presence and launching new routes and services to enhance its operational capabilities [42]. - The company anticipates continued growth opportunities in the air transportation market, particularly with the development and adoption of Electric Vertical Aircraft (EVA) technology [41]. - Blade's asset-light model and exclusive passenger terminal infrastructure are designed to facilitate a seamless transition to lower-cost air mobility solutions [39]. Operational Metrics - The Passenger Segment achieved trailing twelve-month Adjusted EBITDA profitability in Q3 2024, ahead of previous guidance for full-year profitability by the end of 2025 [1]. - Medical Segment Adjusted EBITDA improved by 15.1% in Q3 2024 compared to the prior year, with margins expanding by 70 basis points [8]. - Total flight profit for the three months ended September 30, 2024, was $19,837 thousand, a 27% increase from $15,579 thousand in the same period of 2023 [28]. - Passenger flight margin improved to 31.8% for the three months ended September 30, 2024, compared to 24.8% in 2023 [28]. - Medical flight margin increased to 20.8% for the three months ended September 30, 2024, up from 18.4% in 2023 [28]. Risks and Challenges - The company faces risks related to market growth, competition, and operational challenges that could impact future performance [42]. - Blade's management emphasizes the importance of maintaining high-quality customer support and a high daily aircraft usage rate to drive revenue growth [42].

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]

Core Insights - Blade Air Mobility, Inc. achieved its first positive adjusted EBITDA quarter as a public company in Q2, with medical revenue continuing to grow and jet revenue rebounding, although overall growth remains sluggish due to a pullback from economically questionable activities [1][14] Market Conditions - The Medical segment is experiencing solid growth driven by technology and regulatory changes, with organ transplant volumes for heart, liver, and lung increasing in the high single-digit range in Q2, slightly down from a 9% YoY increase in Q1 [2] - Perfusion technology is enhancing organ transportation capabilities, benefiting Blade by increasing air transport and flight distances, although future stabilization of volume growth and distance traveled needs consideration [3][4] Competitive Landscape - Blade's Medical segment faces increasing competition, particularly from TransMedics, which is aggressively pursuing the market and reported a 32% sequential increase in transplant logistics revenue to $19.1 million [4] - TransMedics has expanded its logistics operations and aircraft fleet, which could impact Blade's market position as it currently relies on a fragmented ground transportation market with an estimated total addressable market of $200 million [4][5] Business Updates - Blade has exited unprofitable passenger routes, including restructuring its Canadian operations, which is expected to improve margins over time [5][11] - The company is expanding its short-distance infrastructure and has launched a new codeshare with Emirates, while also opening new terminals and a rooftop helipad [5] - Blade closed 7 of 8 announced jet aircraft acquisitions in Q2, with expectations that these will generate a return on invested capital exceeding 30% [5] Financial Performance - Blade reported Q2 revenue of $67.9 million, an 11.4% YoY increase, with medical revenue at $38.3 million, up 11.5% YoY, driven by increased hours flown and revenue per hour [7][8] - Short-Distance revenue grew 9% YoY to $20.9 million, while Jet and Other revenue increased 17.4% YoY to $8.7 million [9] - Q3 is off to a strong start, with expectations of $240-250 million in revenue for 2024, reflecting a 9% YoY increase at the midpoint [9] Profitability and Margins - Blade's Medical flight margin improved to 23.6% in Q2, attributed to pricing and growth in ground logistics, with expectations of a 10-20% improvement in flight margins from using its aircraft [10] - The company is progressing towards GAAP profitability, but significant growth is needed to achieve consistent profitability, with current operating losses largely due to stock-based compensation [12][14] Future Outlook - eVTOLs are seen as a potential growth driver, with Blade anticipating deployment in international markets by 2025/2026 and in the US by 2026, although initial market constraints may provide an advantage [6] - Blade's current EV/S multiple is around 0.5, indicating limited growth or profitability priced into the stock, with a need to reduce CapEx and demonstrate sustainable growth in the Medical segment [14][15]

Industry Overview - The flying car industry is rapidly evolving due to technology integration and corporate funding, with significant growth expected by 2025, particularly in electric vertical take-off and landing (eVTOL) vehicles [1] - The industry is projected to have an annual growth rate of 34% through 2035, indicating strong investment potential [2] Company Analysis: Joby Aviation (JOBY) - Joby Aviation's stock price has decreased by 24.05% over the past month, making it a candidate for investment [3] - The company is on track to have four production prototype aircraft in flight testing by Q3 2024, which is expected to enhance its market position [4] - Joby has completed over a third of Stage 4 testing, with management anticipating accelerated progress in 2024, suggesting potential strong returns for shareholders [5] Company Analysis: Lilium (LILM) - Lilium's stock has dropped 32.89% over the past year, but it has secured a significant agreement with Saudia Group for up to 100 VTOL jets, with deliveries expected in 2026 [6] - The company is developing an aftermarket service business, POWER-ON, projected to generate $5 billion in recurring revenue by 2035, indicating strong future growth potential [7] - Lilium's current market cap of $469 million suggests significant upside potential for investors [7] Company Analysis: Blade Air Mobility (BLDE) - Blade Air Mobility achieved its first positive Adjusted EBITDA as a public company, with a year-over-year improvement of $5.4 million, reaching $1 million [8] - The company has a unique position in organ transportation, with its Medical segment reporting the highest quarterly revenue since inception at $38.3 million, a 6.4% increase from Q1 2024 [9] - Despite a 69.13% decline in stock price over the past five years, Blade is showing signs of improvement, making it a company to watch [10]

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]