Filing Flows › Surf Air Mobility (SRFM) › Q1 2026
Surf Air Mobility (SRFM) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 11, 2026
Surf Air Mobility (SRFM) reported revenue of $25.6M for the first quarter 2026 (Q1 2026), +9% from a year earlier and -3% from the quarter before. Operating margin was -52.1%, net loss $20.3M (79.1% of revenue).
Surf Air Mobility, Q1 2026: revenue $25.6M (+9% year over year), operating margin -52.1%, net loss $20.3M, operating cash flow −$12.3M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $25.6M | -3% | +9% |
| Operating profit | −$13.4M | — | — |
| Net earnings | −$20.3M | — | — |
| Operating cash flow | −$12.3M | — | — |
What changed
Revenue was $25.6M in Q1 2026, up 9% year over year and down 3% from the previous quarter. Scheduled was the largest line at 60% of revenue. On Demand added $4.4M year over year (up 77%), 210% of the total change. Scheduled declined 13%.
Operating costs exceeded revenue by $13.4M, an operating margin of -52.1%. Total costs fell 7% while revenue rose 9%. The fastest-growing cost line was Sales & marketing (+19%). The quarter ended with a net loss of $20.3M, narrower than the previous quarter's $36.9M loss.
Operating cash flow was −$12.3M. Non-cash charges added back $2.6M of depreciation and amortization and $1.4M of share-based compensation. Working capital and other items added $4.1M. Capital expenditures of $2.8M exceeded it, leaving free cash flow of −$15.0M.
Questions
What was Surf Air Mobility's revenue in the first quarter 2026?
Surf Air Mobility (SRFM) reported revenue of $25.6M for the first quarter 2026 (Q1 2026), +9% from a year earlier and -3% from the quarter before.
Was Surf Air Mobility profitable in the first quarter 2026?
Operating loss was $13.4M (-52.1% of revenue) and net loss $20.3M.
Source: Surf Air Mobility 10-Q on SEC EDGAR.