Filing Flows › Surf Air Mobility (SRFM) › Q1 2025
Surf Air Mobility (SRFM) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 13, 2025
Surf Air Mobility (SRFM) reported revenue of $23.5M for the first quarter 2025 (Q1 2025), -23% from a year earlier and -16% from the quarter before. Operating margin was -79.0%, net loss $18.5M (78.6% of revenue).
Surf Air Mobility, Q1 2025: revenue $23.5M (-23% year over year), operating margin -79.0%, net loss $18.5M, operating cash flow −$15.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $23.5M | -16% | -23% |
| Operating profit | −$18.6M | — | — |
| Net earnings | −$18.5M | — | — |
| Operating cash flow | −$15.8M | — | — |
What changed
Revenue was $23.5M in Q1 2025, down 23% year over year and down 16% from the previous quarter. Scheduled was the largest line at 76% of revenue. Scheduled lost $5.2M year over year (down 23%), 73% of the total change.
Operating costs exceeded revenue by $18.6M, an operating margin of -79.0%. Total costs fell 35% while revenue fell 23%. The quarter ended with a net loss of $18.5M, after a profit of $1.3M the previous quarter.
Operating cash flow was −$15.8M. Non-cash charges added back $2.1M of depreciation and amortization and $1.9M of share-based compensation. Working capital and other items used $1.4M. Capital expenditures of $1.3M exceeded it, leaving free cash flow of −$17.1M.
Questions
What was Surf Air Mobility's revenue in the first quarter 2025?
Surf Air Mobility (SRFM) reported revenue of $23.5M for the first quarter 2025 (Q1 2025), -23% from a year earlier and -16% from the quarter before.
Was Surf Air Mobility profitable in the first quarter 2025?
Operating loss was $18.6M (-79.0% of revenue) and net loss $18.5M.
Source: Surf Air Mobility 10-Q on SEC EDGAR.