Quarterly ResultAug 10, 2026, 04:24 PM
Surf Air Mobility Q2 Revenue $29.5M, Adj. EBITDA Loss $10.5M
AI Summary
Surf Air Mobility Inc. reported strong second quarter 2026 financial results, meeting its revenue and Adjusted EBITDA guidance. Total revenue reached $29.5 million, driven by a 101% year-over-year increase in Surf On Demand private charter revenue, while Adjusted EBITDA loss was $10.5 million. The company also secured its first SurfOS enterprise software contract with Wheels Up, expanded its partnership with Palantir Technologies, and significantly strengthened its balance sheet by reducing convertible note principal by 64%. Surf Air Mobility reaffirmed its full-year 2026 revenue guidance and improved its Adjusted EBITDA loss outlook, signaling a positive trajectory.
Key Highlights
- Q2 2026 total revenue was $29.5 million, an 8% year-over-year increase, at the high end of guidance.
- Q2 2026 Adjusted EBITDA loss was $10.5 million, within the guidance range.
- Surf On Demand private charter revenue increased 101% year-over-year to $12.1 million.
- Signed first SurfOS Enterprise Software Contract with Wheels Up, worth up to $12 million over three years.
- Reduced existing convertible note principal by 64% and lowered monthly cash amortization payments by up to 50%.
- Reaffirmed full year 2026 revenue guidance of $128 million to $138 million.
- Improved full year 2026 Adjusted EBITDA loss guidance to $30 million to $25 million.
- Issued Q3 2026 revenue guidance of $35.5 million to $37.5 million and Adjusted EBITDA loss of $7 million to $4 million.
Price Impact
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