Quarterly ResultMay 11, 2026, 04:20 PM
Surf Air Mobility Q1 Adjusted EBITDA Outperforms, Annual Guidance Up 40%
AI Summary
Surf Air Mobility Inc. reported strong first-quarter 2026 financial results, with total revenue of $25.6 million, meeting the high end of its guidance. The company significantly outperformed its Adjusted EBITDA guidance, reporting a loss of $12.3 million. This performance led to an approximately 40% improvement in its annual 2026 Adjusted EBITDA guidance, while maintaining its full-year revenue outlook. Operational highlights included record revenue for the Surf On Demand private charter business and accelerated SurfOS development.
Key Highlights
- Q1 2026 total revenue was $25.6 million, at the high end of guidance ($24M-$26M), a 9% YoY increase.
- Q1 2026 Adjusted EBITDA loss was $12.3 million, outperforming guidance ($15.5M-$13.5M loss).
- Annual 2026 Adjusted EBITDA guidance improved by approximately 40% to a loss of $30M-$25M.
- Surf On Demand private charter revenue increased 77% year-over-year to $10.1 million.
- Net loss for Q1 2026 was $20.3 million, compared to $18.5 million in the prior year.
- Raised $30 million in new capital in April 2026 ($15M credit facility, $15M equity offering).
- Q2 2026 revenue guidance is $27 million to $30 million, with Adjusted EBITDA loss of $10.5 million to $8.5 million.