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Surf Air Mobility (SRFM) guidance and outlook
Surf Air Mobility (SRFM) raised its guidance on Nov 5, 2026: Revenue $36.5M for Q4 2026; Revenue +25% for Q4 2026; EBITDA $2.4M–$5.4M for Q4 2026; EBITDA +32% for Q4 2026. Surf Air Mobility's 10-Q filed Nov 5, 2026 makes 17 forward-looking statements.
Guidance and outlook
Latest guidance
| Metric | Period | Range | Change |
|---|---|---|---|
| Revenue | Q4 2026 | $36.5M | new |
| Revenue | Q4 2026 | +25% | new |
| EBITDA | Q4 2026 | $2.4M–$5.4M | new |
| EBITDA | Q4 2026 | +32% | new |
| Revenue | FY2026 | $128M–$138M | raised |
| EBITDA | FY2026 | $32.0M–$35.0M | raised |
From the earnings release filed Nov 5, 2026 (8-K on EDGAR).
Forward-looking statements, 10-Q filed Nov 5, 2026
- (“Surf Air Mobility”, the “Company,” “us,” “we” or “our”), a Delaware corporation, is a regional air mobility platform that aims to transform regional flying.
- We expect the combination of our legacy networks will continue to provide the basis for our expanded, nationwide regional air mobility platform.
- Since 2020, the Company has been incurring expenses to support the development of the technology of its digital platform with the aim of enabling the regional air mobility market to operate at scale and to enhance the user’s ability to make informed decisions based on multiple first and third-party data sources as well as connected aircraft, and the Company expects these development expenses to continue to be…
- Additionally, the Company intends to continue developing fully electric and hybrid-electric powertrain technologies with commercial partners to electrify existing fleets and new aircraft.
- As a result, the Company expects to incur significant costs in the future to support the development of this technology.
- In addition, the Company has incurred greater than expected losses and negative cash flows from operating activities due to previous inefficient aircraft utilization, primarily caused by an underutilization of pilots and a shortage of
- As the Company does not currently, and does not intend in the foreseeable future to, enter into any transactions to hedge fuel costs, or otherwise fix labor costs, the Company will continue to be fully exposed to fluctuations in prices of material operating costs.
- As a result, we expect to face increased and continued competition when bidding for or renewing Essential Air Service contracts, which could impact our ability to retain existing routes or the level of subsidy associated with those routes.
- In addition to the data presented in our condensed consolidated financial statements, we use the following key operating measures commonly used throughout the air transport industry to evaluate our business, measure our performance, develop financial forecasts and make strategic decisions.
- Beginning in September 2026, under the terms of the OIC, all collection actions against the Company, in relation to these matters, will be abated and the Company will be making monthly payments of $85 thousand on historical excise tax liabilities while the IRS is considering the OIC.
- The accompanying unaudited condensed consolidated financial statements have been prepared assuming the Company will continue as a going concern.
- The Company historically has funded its operations and capital needs primarily through the net proceeds received from the issuance of various debt instruments, convertible securities, related party funding, and preferred and common stock financing arrangements and expects to continue to do so, as available.
Surf Air Mobility's latest quarter
Surf Air Mobility, Q3 2026: revenue $36.5M (+25% year over year), operating margin -43.8%, net loss $20.4M, operating cash flow −$21.2M. The chart follows the revenue to costs, profit and cash.
Questions
Did Surf Air Mobility raise or lower its guidance?
Surf Air Mobility (SRFM) raised its guidance on Nov 5, 2026: Revenue $36.5M for Q4 2026; Revenue +25% for Q4 2026; EBITDA $2.4M–$5.4M for Q4 2026; EBITDA +32% for Q4 2026.
What does Surf Air Mobility expect?
(“Surf Air Mobility”, the “Company,” “us,” “we” or “our”), a Delaware corporation, is a regional air mobility platform that aims to transform regional flying. We expect the combination of our legacy networks will continue to provide the basis for our expanded, nationwide regional air mobility platform. Since 2020, the Company has been incurring expenses to support the development of the technology of its digital platform with the aim of enabling the regional air mobility market to operate at scale and to enhance the user’s ability to make informed decisions based on multiple first and third-pa
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.