Surf Air Mobility Reports Q4 Revenue of $26.4M, Down from $28.1M Last Year
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 12 2026
0mins
Should l Buy SRFM?
Reports Q4 revenue $26.4M vs. $28.1M last year. Deanna White, CEO of Surf Air Mobility, said: "2025 was a transformational year for Surf Air Mobility. The strategic investments we made in our operations, software, and capital structure have demonstrated measurable operational and financial improvements. Today, we are no longer resetting. We are pivoting to growth. In 2026, Surf Air Mobility intends to integrate its operational expertise, SurfOS infrastructure, and strategic partnerships into a technology-enabled platform designed to improve efficiency, reliability, and asset productivity across its own operations and the broader aviation ecosystem. Based on confidence in our operational expertise, SurfOS infrastructure and technology-enabled platform, the Company is establishing 2026 revenue guidance 20 to 30 percent above the 2025 results."
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Analyst Views on SRFM
Wall Street analysts forecast SRFM stock price to rise
2 Analyst Rating
1 Buy
1 Hold
0 Sell
Moderate Buy
Current: 1.380
Low
3.50
Averages
7.75
High
12.00
Current: 1.380
Low
3.50
Averages
7.75
High
12.00
About SRFM
Surf Air Mobility Inc. provides a regional air mobility platform. The Air Mobility business is a regional air mobility platform providing scheduled service and an on-demand charter marketplace to passengers in the United States and globally. The Company is developing powertrain technologies with its commercial partners to electrify existing fleets and new aircraft. It is engaged in expanding the category of regional air travel, connecting underutilized regional airports and private terminals to create a shared private customer experience and a high frequency commercial-like air service, using small turboprop aircraft. It provides both scheduled routes and on-demand charter flights operated by third parties. It is also a passenger operator of Cessna Grand Caravan EXs in the United States by scheduled departures. The Company serves approximately 370,000 passengers with over 72,000 scheduled departures.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Surf Air Mobility Achieves ARGUS Certification for Safety Standards
- Safety Certification Achievement: Surf On Demand has become one of only 16 ARGUS Certified Charter Brokers globally, confirming its operational practices and safety due diligence meet the highest industry standards following a comprehensive audit, thereby enhancing customer trust and market competitiveness.
- Technology-Driven Growth: The launch of the 'Powered by Surf On Demand' program equips independent third-party brokers with the company's proprietary BrokerOS software and operational infrastructure, aimed at streamlining quoting and compliance checks to enhance brokers' business scale and service quality.
- Future Revenue Expectations: Surf Air Mobility anticipates that Surf On Demand will be the largest contributor to the company's revenue growth in 2026, reflecting its strong growth potential in the private aviation market and keen understanding of customer demand.
- Industry Collaboration and Safety Initiatives: By joining the Air Charter Safety Foundation (ACSF), Surf On Demand collaborates with industry stakeholders to promote safety management systems and educational programs, further solidifying its leadership in aviation safety and operational best practices.
See More
Surf Air Mobility CEO to Attend ROTH Conference
- Executive Meeting Schedule: Surf Air Mobility's CEO Deanna White and CFO Oliver Reeves will host meetings on March 23 and 24, 2026, at The Ritz-Carlton in Laguna Niguel, California, showcasing the company's leadership in the air mobility sector.
- Meeting Participation Opportunity: Investors wishing to schedule meetings with Surf Air Mobility can contact their ROTH representative or email investors@surfair.com, enhancing engagement and communication with potential investors.
- Technological Innovation Platform: Surf Air Mobility is committed to modernizing air operations and adopting next-generation aircraft through its AI-enabled SurfOS software and electrification programs, demonstrating its forward-thinking approach in aviation technology.
- Operational Scale Advantage: As one of the largest commuter airlines in the U.S. by scheduled departures, Surf Air Mobility leverages operational scale and real-world data to validate and deploy its software, further solidifying its market leadership.
See More
Surf Air Mobility (SRFM) Earnings Call Transcript
See More
Surf Air Mobility's 2026 Outlook and Growth Strategy
- Revenue Growth Outlook: Surf Air Mobility has raised its 2026 revenue guidance by 20% to 30%, reflecting the company's confidence in electric aircraft deployment and its partnership with Beta Technologies, which is expected to drive future revenue growth and operational efficiencies.
- Operational Efficiency Gains: In 2025, Surf Air achieved positive adjusted EBITDA in its airline operations, driven by operational improvements and reduced maintenance complexity, demonstrating significant progress in enhancing profitability.
- Electric Aircraft Orders: Surf Air has placed an order for 25 electric aircraft with Beta Technologies, with an option for 75 more, which is expected to significantly improve operational economics, particularly in fuel and maintenance costs, positioning the company as a leader in the electric aviation market.
- Platform Strategy Implementation: The commercialization of Surf OS technology is expected to begin in 2026, and in conjunction with its partnership with Palantir, Surf Air will provide efficient digital solutions for the industry, promoting integration and collaboration within the aviation ecosystem.
See More
Surf Air Mobility Q4 2025 Earnings Call Insights: Transitioning to Growth Mode
- Revenue Growth Outlook: Surf Air Mobility projects a 20% to 30% revenue increase for 2026, targeting between $128 million and $138 million, reflecting accelerated growth in on-demand charter services and SurfOS commercialization, indicating strong market demand and business expansion potential.
- Profitability Improvement: The company achieved profitability in its Airline Operations for 2025, with an adjusted EBITDA loss of $41.7 million, improving by 5% year-over-year, demonstrating significant progress in operational efficiency and cost control, which enhances confidence in future profitability.
- Electric Aircraft Orders: Surf Air has secured a firm order for 25 BETA electric aircraft with options for 75 more, which is expected to enhance profitability in scheduled services and on-demand charters through improved unit economics, further solidifying its market position.
- Capital Structure Optimization: The company raised over $100 million in 2025, reducing net debt by 47% to $74 million, and this improvement in capital structure provides flexibility for future growth, supporting strategic investments in electric aviation and digital infrastructure.
See More
Surf Air Partners with BETA Technologies for Electric Aviation
- Strategic Partnership: Surf Air Mobility has entered into a strategic partnership with BETA Technologies to become the launch operator for BETA's electric passenger aircraft, marking a significant advancement in the electric aviation sector for the company.
- Order Details: Surf Air has placed a firm order for 25 all-electric ALIA CTOL aircraft from BETA, with an option for an additional 75, initially focusing on cargo services in Hawaii, leveraging existing airport infrastructure to reduce operational costs.
- Service Center Development: The agreement includes plans for Surf Air to develop factory-authorized service centers for BETA aircraft, which is expected to enhance operational support capabilities for various mission profiles, including passenger and cargo services.
- Market Performance Analysis: Surf Air's stock is currently trading at $1.96, which is 1.0% below its 20-day simple moving average and 13.2% below its 50-day moving average, indicating market pressure and uncertainty facing the company.
See More
Surf Air Mobility Achieves ARGUS Certification for Safety Standards
- Safety Certification Achievement: Surf On Demand has become one of only 16 ARGUS Certified Charter Brokers globally, confirming its operational practices and safety due diligence meet the highest industry standards following a comprehensive audit, thereby enhancing customer trust and market competitiveness.
- Technology-Driven Growth: The launch of the 'Powered by Surf On Demand' program equips independent third-party brokers with the company's proprietary BrokerOS software and operational infrastructure, aimed at streamlining quoting and compliance checks to enhance brokers' business scale and service quality.
- Future Revenue Expectations: Surf Air Mobility anticipates that Surf On Demand will be the largest contributor to the company's revenue growth in 2026, reflecting its strong growth potential in the private aviation market and keen understanding of customer demand.
- Industry Collaboration and Safety Initiatives: By joining the Air Charter Safety Foundation (ACSF), Surf On Demand collaborates with industry stakeholders to promote safety management systems and educational programs, further solidifying its leadership in aviation safety and operational best practices.
See More
Surf Air Mobility CEO to Attend ROTH Conference
- Executive Meeting Schedule: Surf Air Mobility's CEO Deanna White and CFO Oliver Reeves will host meetings on March 23 and 24, 2026, at The Ritz-Carlton in Laguna Niguel, California, showcasing the company's leadership in the air mobility sector.
- Meeting Participation Opportunity: Investors wishing to schedule meetings with Surf Air Mobility can contact their ROTH representative or email investors@surfair.com, enhancing engagement and communication with potential investors.
- Technological Innovation Platform: Surf Air Mobility is committed to modernizing air operations and adopting next-generation aircraft through its AI-enabled SurfOS software and electrification programs, demonstrating its forward-thinking approach in aviation technology.
- Operational Scale Advantage: As one of the largest commuter airlines in the U.S. by scheduled departures, Surf Air Mobility leverages operational scale and real-world data to validate and deploy its software, further solidifying its market leadership.
See More
Surf Air Mobility (SRFM) Earnings Call Transcript
See More
Surf Air Mobility's 2026 Outlook and Growth Strategy
- Revenue Growth Outlook: Surf Air Mobility has raised its 2026 revenue guidance by 20% to 30%, reflecting the company's confidence in electric aircraft deployment and its partnership with Beta Technologies, which is expected to drive future revenue growth and operational efficiencies.
- Operational Efficiency Gains: In 2025, Surf Air achieved positive adjusted EBITDA in its airline operations, driven by operational improvements and reduced maintenance complexity, demonstrating significant progress in enhancing profitability.
- Electric Aircraft Orders: Surf Air has placed an order for 25 electric aircraft with Beta Technologies, with an option for 75 more, which is expected to significantly improve operational economics, particularly in fuel and maintenance costs, positioning the company as a leader in the electric aviation market.
- Platform Strategy Implementation: The commercialization of Surf OS technology is expected to begin in 2026, and in conjunction with its partnership with Palantir, Surf Air will provide efficient digital solutions for the industry, promoting integration and collaboration within the aviation ecosystem.
See More
Surf Air Mobility Q4 2025 Earnings Call Insights: Transitioning to Growth Mode
- Revenue Growth Outlook: Surf Air Mobility projects a 20% to 30% revenue increase for 2026, targeting between $128 million and $138 million, reflecting accelerated growth in on-demand charter services and SurfOS commercialization, indicating strong market demand and business expansion potential.
- Profitability Improvement: The company achieved profitability in its Airline Operations for 2025, with an adjusted EBITDA loss of $41.7 million, improving by 5% year-over-year, demonstrating significant progress in operational efficiency and cost control, which enhances confidence in future profitability.
- Electric Aircraft Orders: Surf Air has secured a firm order for 25 BETA electric aircraft with options for 75 more, which is expected to enhance profitability in scheduled services and on-demand charters through improved unit economics, further solidifying its market position.
- Capital Structure Optimization: The company raised over $100 million in 2025, reducing net debt by 47% to $74 million, and this improvement in capital structure provides flexibility for future growth, supporting strategic investments in electric aviation and digital infrastructure.
See More
Surf Air Partners with BETA Technologies for Electric Aviation
- Strategic Partnership: Surf Air Mobility has entered into a strategic partnership with BETA Technologies to become the launch operator for BETA's electric passenger aircraft, marking a significant advancement in the electric aviation sector for the company.
- Order Details: Surf Air has placed a firm order for 25 all-electric ALIA CTOL aircraft from BETA, with an option for an additional 75, initially focusing on cargo services in Hawaii, leveraging existing airport infrastructure to reduce operational costs.
- Service Center Development: The agreement includes plans for Surf Air to develop factory-authorized service centers for BETA aircraft, which is expected to enhance operational support capabilities for various mission profiles, including passenger and cargo services.
- Market Performance Analysis: Surf Air's stock is currently trading at $1.96, which is 1.0% below its 20-day simple moving average and 13.2% below its 50-day moving average, indicating market pressure and uncertainty facing the company.
See More
