Blade Air Mobility (BLDE) Reports Fourth Quarter 2024 Earnings Results

Blade Air Mobility, Inc. (BLDE) today announced its financial results for the recent quarter, showcasing a robust performance. The company reported a quarterly revenue of $54.36 million, surpassing the estimated $50.45 million and marking a revenue beat of $3.90 million. Blade Air Mobility’s earnings per share met expectations with an EPS estimate of -$0.11657. This performance highlights the company’s continued growth and resilience in the evolving air mobility sector.

Key Highlights:

• Full-year net loss improved by $28.8 million to $(27.3) million in FY 2024.
• Adjusted EBITDA improved by $17.8 million to $1.2 million in FY 2024.
• Q4 revenue increased 14.5% to $54.4 million, with a 22.1% increase excluding Canada.
• Medical Segment Adjusted EBITDA improved 119.6% to $5.5 million in Q4 2024.
• Reaffirmed guidance for double-digit millions of Adjusted EBITDA in 2025.
• Blade’s CEO, Rob Wiesenthal, highlighted the company’s first full-year of Adjusted EBITDA profitability and significant revenue growth.
• CFO Will Heyburn noted the benefits of economies of scale and improved Medical Segment Adjusted EBITDA margins.
• President Melissa Tomkiel reported encouraging results from European restructuring and new partnerships.

Summary:

Blade Air Mobility reported significant financial improvements for the fourth quarter and full year of 2024. The company achieved a full-year net loss improvement of $28.8 million, bringing it down to $(27.3) million, and an Adjusted EBITDA improvement of $17.8 million, reaching $1.2 million. Revenue for the fourth quarter increased by 14.5% to $54.4 million, with a notable 22.1% increase when excluding the impact of exiting the Canadian market. The Medical Segment Adjusted EBITDA saw a remarkable 119.6% improvement, reaching $5.5 million in Q4 2024. Blade reaffirmed its guidance for achieving double-digit millions in Adjusted EBITDA for 2025, indicating strong future growth expectations.

CEO Rob Wiesenthal expressed satisfaction with the company’s first full-year of Adjusted EBITDA profitability, driven by revenue growth and margin expansion in both the Medical and Passenger segments. He emphasized the importance of services like Blade Airport in accelerating the transition from helicopters to eVTOL, which is expected to enhance cost efficiencies and revenue growth. CFO Will Heyburn highlighted the benefits of economies of scale and improved Medical Segment Adjusted EBITDA margins, while President Melissa Tomkiel reported positive outcomes from the company’s European restructuring and new partnerships, such as the alliance with Skyports Infrastructure. These strategic moves are expected to support Blade’s continued growth and profitability in the coming years.

Blade Air Mobility, Inc. (BLDE) has experienced a turbulent period in terms of stock price performance, with a notable decline of 13.19% over the past week and a more significant drop of 20.95% in the last month. Over the past three months, the stock has plummeted by 32.13%, although it has managed to eke out a modest gain of 1.80% over the past year. Despite these fluctuations, the company’s fundamentals paint a challenging picture. With a negative price-to-earnings ratio of -12.53, Blade Air Mobility is currently not profitable, as reflected in its negative net profit margin of -24.75%. The company’s return on invested capital is also in the red at -25.56%, indicating inefficiencies in generating returns from its investments. However, Blade Air Mobility’s revenue has shown impressive growth, with a two-year compound annual growth rate of 77.87%, suggesting potential for future profitability if the company can manage its costs and improve operational efficiency.

Blade Air Mobility, Inc. provides air transportation alternatives to the congested ground routes in the United States. It provides its services through charter and by-the-seat flights using helicopters, jets, turboprops, and amphibious seaplanes. The company was founded in 2014 and is headquartered in New York, New York.