SRFM Earnings Prediction
The chart below shows how SRFM performed 10 days before and after its earnings report, based on data from the past quarters. Typically, SRFM sees a -3.31% change in stock price 10 days leading up to the earnings, and a -33.71% change 10 days following the report. On the earnings day itself, the stock moves by +1.57%. This data can give you a slight idea of what to expect for the next quarter's release.
SRFM Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
28.39M
29.22%
-12.30%
Gross Margin
-4.34%
-134.55%
-155.36%
Operating Margin
-30.43%
-85.99%
-61.01%
Net Margin
-43.07%
-87.32%
-48.34%
EPS
-0.94
-90.16%
-59.31%
No Data Available
SRFM Earnings Analysis
Surf Air Mobility Inc. Corporation (SRFM.N) Earnings Conference Call
Positive
Q3 Revenue Exceeds Guidance: Revenue for the third quarter of $28.4 million exceeded the high end of the company's guidance range of $25 million to $28 million.
Service Revenue Increase: Scheduled service revenue increased by 2%, primarily driven by the addition of subsidized route revenue from Williamsport, Purdue and Lanai.
EBITDA Loss Performance: The adjusted EBITDA loss of $8.9 million for the third quarter 2024 was unchanged from the same period of the prior year, outperforming expectations of a loss of $10 million to $13 million.
Term Loan Agreement: The company announced a $50 million term loan agreement with Comvest Partners, which will strengthen the balance sheet and address near-term liquidity constraints.
Annual Revenue Achievement: Surf Air Mobility is generating over $100 million in annual revenues by flying hundreds of thousands of paying customers each year.
Negative
Quarterly Revenue Performance: Revenue for the third quarter of $28.4 million was relatively unchanged versus the prior year period on a pro forma basis, and it exceeded the high end of the company's guidance range of $25 million to $28 million.
Service Revenue Increase: Scheduled service revenue increased by 2%, primarily driven by the addition of subsidized route revenue from Williamsport, Purdue and Lanai, partially offset by lower completion factor.
On-Demand Service Revenue Decline: On-demand service revenue decreased by 13% which represents the impact of management's focus on profitability rather than near-term market penetration.
Adjusted EBITDA Performance: Adjusted EBITDA loss of $8.9 million for the third quarter 2024 was unchanged from the same period of the prior year on a pro forma basis, outperforming our expectations of an adjusted EBITDA loss of $10 million to $13 million.
Operating Margin Improvement: This performance was driven by improved operating margins from the on-demand business, realized M&A synergies, lower compensation costs and lower professional expenses during the quarter.
SRFM FAQs
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SRFM Earning Call Sentiment
Surf Air Mobility Inc. (SRFM) Q3 2024 Earnings Conference Call Transcript
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SRFM.N
-8.47%Positive
The earnings call shows mixed signals: strong financial performance with revenue exceeding guidance, but challenges remain with liquidity constraints and operational issues. The partnership with Palantir is promising, but profitability is delayed. The Q&A revealed uncertainties, especially around the electrification project timeline. The term loan strengthens the balance sheet, yet market competition impacts revenue. Overall, the positive and negative factors offset each other, suggesting a neutral stock price reaction in the short term.
