Blade Air Mobility (BLDE) Conference Summary Company Overview - Blade Air Mobility has been operational for eleven years, initially focusing on helicopter passenger transport in New York and expanding to European markets such as Monaco, Nice, Cannes, and Geneva [1][2] - The company aims to transition from helicopters to electric vertical takeoff and landing (eVTOL) aircraft, leveraging an asset-light model that allows for future aircraft swaps [2][4] Industry Dynamics - The transition to eVTOL is expected to occur soon, with potential commercialization timelines for manufacturers like Adobe and Archer projected for late 2025 to early 2026 in the Middle East and late 2027 to early 2028 in the U.S. [10][11] - Blade is well-positioned to capitalize on this transition due to its established infrastructure and technology stack, which includes heliports in key markets [12][14] Key Business Segments Passenger Transport - Blade has successfully penetrated the passenger market, offering competitive pricing that has attracted a significant customer base [11] - The company has broken through pricing barriers, offering a $95 annual airport pass for frequent flyers [11] Medical Transport - Blade is the largest air transporter of human organs in the U.S., with a business generating approximately $150 million, surpassing its passenger transport revenue [5][6][37] - The medical segment is expected to grow in double digits, with a target margin expansion from 15% to high teens due to increased control over owned jets [34][35] - Blade holds about 30-35% of the organ transport market, indicating significant growth potential [37] Technological Advancements - The company is exploring the integration of AI in operations, aiming for enhanced safety and efficiency in future eVTOL aircraft [21][22] - Blade does not manufacture its own aircraft but collaborates with established manufacturers like Bell and Airbus [23] Financial Performance - Blade is ahead of its profitability projections, with adjusted EBITDA expected to exceed $10 million in 2025, up from just over $1 million last year [43][45] - The company maintains a strong financial position with $120 million in cash and zero debt, focusing on strategic acquisitions in the medical sector [40][42] Strategic Initiatives - Blade is actively seeking acquisitions that can enhance its medical transport capabilities and leverage existing hospital relationships [40][42] - The company is involved in various high-profile events to increase brand recognition and attract new customers, such as the Ryder Cup and major music festivals [28][29] Conclusion - Blade Air Mobility is strategically positioned to lead the transition to eVTOL aircraft while maintaining a strong foothold in the medical transport sector, showcasing impressive financial growth and operational efficiency [43][45]

Summary of Blade's Conference Call Company Overview - Blade operates in two primary segments: Medical (60% of revenue) and Passenger (40% of revenue) [4][5] - The Medical segment is a leading transporter of human organs for transplant in the U.S., generating approximately $150 million in revenue with a 13% EBITDA margin over the last twelve months [5][6] - The Passenger segment focuses on short-distance transportation in the U.S. and Europe, generating about $6.3 million in adjusted EBITDA [8] Key Growth Drivers Medical Segment - The industry growth rate is in the high single digits, driven by technology adoption and regulatory changes [6][13] - Blade has a 30% market share in air logistics, with ongoing customer acquisition, including two new high-volume transplant centers [14][15] - Ancillary services, such as ground logistics and organ placement services, are growing at or above the overall growth rate [15] - The company aims for a 15% EBITDA margin in the Medical segment, with expectations of improvement in the second half of the year [17][19] Passenger Segment - The transition to electric vertical takeoff and landing (eVTOL) aircraft is seen as a significant growth opportunity, with new landing zones viewed as new business opportunities [33][45] - The company has restructured its European operations and exited the Canadian market, leading to improved profitability [30][31] - Blade anticipates low single-digit growth in the passenger business for the year, excluding Canada [34] Technology and Operations - Blade employs a technology platform in the Medical segment for real-time logistics management and data analytics [21] - The Passenger segment has a consumer-facing app and operational technology for flight management [36][38] - The company operates an asset-light model in the Passenger segment, relying on third-party aircraft to mitigate economic sensitivity and seasonality [39] Market Trends and Competitive Landscape - The company has observed a seasonal pickup in demand for the Passenger segment as summer approaches, despite some softness in New York-centric products [41] - Blade's established brand, scale, and infrastructure position it well against competitors entering the eVTOL market [49][56] - The introduction of eVTOLs is expected to create new landing zones and expand market opportunities [54][62] Capital Allocation Strategy - Blade has $120 million in cash with no debt, focusing on strategic acquisitions in the Medical segment and investments in additional aircraft and vehicles [64] - The company views its medical business as a logistics platform with potential for expansion into other time-critical logistics markets [65] Investment Thesis - Blade is at an inflection point, transitioning from breakeven EBITDA to generating positive cash flow [67] - There is significant growth potential in the Medical segment, with a target of high teens EBITDA margins, and attractive optionality in the Passenger segment ahead of the eVTOL transition [68]

Financial Data and Key Metrics Changes - The company reported an 11% revenue growth excluding Canada, with a year-over-year improvement in adjusted EBITDA of $2.3 million [7][9] - Adjusted EBITDA for the passenger segment improved by $2.7 million year-over-year, reaching $6.3 million as of Q1 2025, up from $3.6 million in Q4 2024 [9][16] - Medical revenue remained roughly flat year-over-year at $35.9 million, with significant variability in monthly growth trends [17][20] Business Line Data and Key Metrics Changes - Passenger segment revenue grew by 42% year-over-year excluding Canada, marking the first adjusted EBITDA profitable quarter since going public [7][9] - Short distance revenue increased by 28.1% year-over-year, primarily driven by growth in Europe [16] - Jet and Other revenue increased by 60% year-over-year due to higher flight volume and revenue per flight [16] Market Data and Key Metrics Changes - The European market showed strong revenue growth attributed to restructuring efforts, which improved operational efficiency and customer experience [8][16] - The medical business is expected to benefit from strong underlying transplant volume growth, with industry transplant volume rising 7% year-over-year [24] Company Strategy and Development Direction - The company is focused on disciplined capital allocation, evaluating investments in aircraft and medical acquisitions to strengthen its competitive position [14][45] - The transition from helicopters to eVTOL is seen as a key strategic direction, with expectations for deployment in late 2025 to early 2026 [62] - The company aims to enhance profitability through cost rationalization initiatives and restructuring efforts, particularly in the passenger segment [10][13] Management's Comments on Operating Environment and Future Outlook - Management acknowledged economic uncertainty but expressed confidence in the resilience of their higher-end consumer base and ongoing demand in leisure markets [12][32] - The company expects continued revenue growth in the medical segment, with double-digit growth anticipated for the year [24][25] - Management noted that maintenance downtime is expected to moderate in the second half of 2025, leading to improved adjusted EBITDA margins [20][25] Other Important Information - The company ended the quarter with no debt and $120 million in cash and short-term investments, providing flexibility for strategic investments [23] - The company has implemented a withhold to cover method for taxes on employee stock-based compensation, effectively reducing outstanding shares [22] Q&A Session Summary Question: Themes for the year regarding passenger and medical segments - Management highlighted improved profitability in the passenger segment and the impact of maintenance on medical revenue, with expectations for better performance in the second half of the year [28][30] Question: Revenue contribution from Europe and sustainability of growth - Management confirmed approximately $6 million of revenue from Europe in Q1, attributing growth to restructuring and improved service [44] Question: Capital allocation priorities - The company is focused on tactical and strategic medical acquisitions, organic growth initiatives, and has a buyback authorization in place [45][46] Question: Bookings trends and impact of recent issues - Management noted that bookings for summer appear better than last year, but emphasized the on-demand nature of their service [50][53] Question: Repositioning aircraft strategy - Management explained that repositioning will always be part of the business, with a low to mid single-digit revenue headwind expected [71][72] Question: Impact of economic conditions on aircraft acquisitions - Management stated that there is no impact on their aircraft acquisition strategy, with plans to add a low single-digit number of aircraft over the next year or two [75][76]

Investor Presentation May 2025 FORWARD LOOKING STATEMENTS This investor presentation contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts and may be identified by the use of words such as "will", "anticipate", "believe", "could", "continue", "expect", "estimate", "may", "plan", "outlook", "future", "target", and "project" and other simil ...

| | | | Three Months Ended March 31, | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | 2025 | | 2024 | | % Change | | | Revenue | $ | 54,306 | $ | 51,514 | | 5.4 | % | | Cost of revenue | $ | 42,328 | $ | 41,375 | | 2.3 | % | | Software development | | 812 | | 670 | | 21.2 | % | | General and administrative | | 17,314 | | 17,209 | | 0.6 | % | | Selling and marketing | | 1,435 | | 2,128 | | (32.6 ) | % | | Total operating expenses | $ | 61,889 | $ | 61,382 | | 0.8 | % | | Loss from operations ...

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 [3] - The company offers helicopter and fixed-wing services mainly in the Northeast United States and Southern Europe, operating an asset-light model with exclusive passenger terminal infrastructure and proprietary technologies [3] Financial Results Announcement - Blade will release its financial results for the first quarter ended March 31, 2025, on May 12, 2025, before the market opens [1] - A conference call will be held on the same day at 8:00 am Eastern Time, hosted by the CEO Rob Wiesenthal and CFO Will Heyburn, including a question-and-answer session [1][2] Business Model and Technology - Blade's business model is designed to facilitate a seamless transition from traditional air transport to Electric Vertical Aircraft (EVA or eVTOL), aiming for lower-cost, quiet, and emission-free air mobility [3]