What is Surf Air Mobility's operating income?

Surf Air Mobility's total operating income in 2025 was -$76.87 million, based on the following breakdown: Total Gross Profit: $106.56 million Total Operating Expenses: $183.43 million

Surf Air Mobility (SRFM) Financials

$0.94 -0.01 (-1.36%)

Closing price 07/10/2026 03:59 PM Eastern

Extended Trading

$0.93 0.00 (-0.43%)

As of 07/10/2026 07:57 PM Eastern

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Annual Income Statements for Surf Air Mobility

This table shows Surf Air Mobility's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024	2025
Period end date	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-74	-251	-75	-111
Consolidated Net Income / (Loss)	-74	-251	-75	-111
Net Income / (Loss) Continuing Operations	-74	-251	-75	-111
Total Pre-Tax Income	-74	-254	-75	-111
Total Operating Income	-51	-197	-60	-77
Total Gross Profit	-4.55	61	119	107
Total Revenue	20	61	119	107
Operating Revenue	20	61	119	107
Total Cost of Revenue	25	0.00	0.00	0.00
Total Operating Expenses	46	257	180	183
Selling, General & Admin Expense	37	101	30	53
Marketing Expense	5.21	10	7.51	8.18
Research & Development Expense	3.29	21	24	10
Depreciation Expense	1.03	3.76	8.34	9.29
Amortization Expense	-	62	110	102
Total Other Income / (Expense), net	-23	-57	-15	-34
Interest Expense	-5.36	3.30	3.22	17
Other Income / (Expense), net	-29	-54	-12	-17
Income Tax Expense	0.00	-3.30	-0.29	-0.38
Basic Earnings per Share	($5.51)	($44.46)	($5.80)	($3.15)
Weighted Average Basic Shares Outstanding	13.49M	5.64M	12.91M	35.10M
Diluted Earnings per Share	($5.51)	($44.46)	($5.80)	($3.15)
Weighted Average Diluted Shares Outstanding	13.49M	5.64M	12.91M	35.10M
Weighted Average Basic & Diluted Shares Outstanding	-	80.77M	16.95M	76.99M

This table shows Surf Air Mobility's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-75	-111	-37	-27	-12	1.27	-18	-28	-27	-37	-20
Consolidated Net Income / (Loss)	-75	-111	-37	-27	-12	1.27	-18	-28	-27	-37	-20
Net Income / (Loss) Continuing Operations	-75	-111	-37	-27	-12	1.27	-18	-28	-27	-37	-20
Total Pre-Tax Income	-78	-111	-37	-27	-12	1.07	-19	-28	-27	-37	-20
Total Operating Income	-63	-109	-34	-25	-8.64	8.11	-19	-16	-17	-26	-13
Total Gross Profit	1.36	54	2.14	4.64	28	84	24	27	1.51	79	26
Total Revenue	22	27	31	32	28	28	24	27	29	26	26
Operating Revenue	22	27	31	32	28	28	24	27	29	26	26
Total Cost of Revenue	21	-28	28	28	0.00	-56	0.00	0.00	28	-52	0.00
Total Operating Expenses	64	163	37	30	37	76	42	43	18	105	39
Selling, General & Admin Expense	56	27	25	20	0.42	-15	11	13	11	19	6.06
Marketing Expense	4.53	2.18	3.01	2.58	1.28	0.65	1.65	1.50	2.06	2.96	1.97
Research & Development Expense	2.88	16	7.01	5.66	5.71	5.66	2.68	2.73	2.33	2.56	2.45
Depreciation Expense	1.36	1.89	1.98	2.06	2.12	2.18	2.15	2.44	2.42	2.28	2.55
Amortization Expense	-	-	-	-	27	-	25	24	-	-	26
Total Other Income / (Expense), net	-15	-2.19	-2.54	-1.76	-3.60	-7.04	0.05	-12	-11	-11	-6.95
Interest Expense	0.87	1.34	1.67	1.91	2.09	-2.45	3.86	3.77	3.26	6.23	1.22
Other Income / (Expense), net	-14	-0.85	-0.87	0.15	-1.51	-9.49	3.90	-8.37	-7.52	-4.97	-5.72
Income Tax Expense	-3.57	0.27	-0.05	-0.04	-0.01	-0.19	-0.05	-0.06	-0.06	-0.20	-0.04
Basic Earnings per Share	($9.55)	($19.69)	($3.35)	($2.31)	($0.94)	$0.10	($1.09)	($1.34)	($0.64)	($1.05)	($0.26)
Weighted Average Basic Shares Outstanding	7.81M	5.64M	11.04M	11.70M	12.97M	12.91M	16.91M	20.90M	42.43M	35.10M	76.87M
Diluted Earnings per Share	($9.55)	($19.69)	($3.35)	($2.31)	($0.94)	$0.10	($1.09)	($1.34)	($0.64)	($1.05)	($0.26)
Weighted Average Diluted Shares Outstanding	7.81M	5.64M	11.04M	11.70M	12.97M	12.91M	16.91M	20.90M	42.43M	35.10M	76.87M
Weighted Average Basic & Diluted Shares Outstanding	73.63M	80.77M	83.04M	89.79M	15.51M	16.95M	19.28M	42.83M	52.27M	76.99M	100.40M

This table details how cash moves in and out of Surf Air Mobility's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024	2025
Period end date	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-0.66	1.52	19	1.09
Net Cash From Operating Activities	-28	-64	-54	-64
Net Cash From Continuing Operating Activities	-28	-64	-54	-64
Net Income / (Loss) Continuing Operations	-74	-251	-75	-111
Consolidated Net Income / (Loss)	-74	-251	-75	-111
Depreciation Expense	1.03	3.76	8.34	9.29
Amortization Expense	0.05	0.10	0.25	1.73
Non-Cash Adjustments To Reconcile Net Income	34	163	-3.60	29
Changes in Operating Assets and Liabilities, net	11	20	16	6.63
Net Cash From Investing Activities	-0.30	-7.10	-3.61	-5.71
Net Cash From Continuing Investing Activities	-0.30	-7.10	-3.61	-5.71
Purchase of Property, Plant & Equipment	-0.30	-7.78	-14	-8.39
Sale of Property, Plant & Equipment	-	0.00	10	2.68
Net Cash From Financing Activities	28	73	77	71
Net Cash From Continuing Financing Activities	28	73	77	71
Repayment of Debt	-0.01	-1.54	-5.26	-57
Issuance of Debt	26	34	79	68
Issuance of Common Equity	0.07	35	3.89	99
Other Financing Activities, net	0.01	2.11	-0.21	-38

This table details how cash moves in and out of Surf Air Mobility's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	3.65	-4.39	-0.44	0.08	-0.95	21	-14	20	-20	16	-8.44
Net Cash From Operating Activities	-24	-19	-13	-5.62	-12	-24	-16	-11	-19	-18	-12
Net Cash From Continuing Operating Activities	-24	-19	-13	-5.62	-12	-24	-16	-11	-19	-18	-12
Net Income / (Loss) Continuing Operations	-75	-111	-37	-27	-12	1.27	-18	-28	-27	-37	-20
Consolidated Net Income / (Loss)	-75	-111	-37	-27	-12	1.27	-18	-28	-27	-37	-20
Depreciation Expense	1.36	1.89	1.98	2.06	2.12	2.18	2.15	2.44	2.42	2.28	2.55
Amortization Expense	0.05	0.05	0.05	0.05	0.05	0.12	0.61	0.61	0.40	0.12	0.18
Non-Cash Adjustments To Reconcile Net Income	43	78	14	8.82	-4.10	-23	-2.94	12	9.35	11	6.72
Changes in Operating Assets and Liabilities, net	5.64	12	7.83	10	1.85	-4.52	2.85	2.63	-4.30	5.45	-1.44
Net Cash From Investing Activities	-11	4.02	-0.74	-1.88	-1.84	0.86	0.78	-1.81	-2.28	-2.41	-3.54
Net Cash From Continuing Investing Activities	-11	4.02	-0.74	-1.88	-1.84	0.86	0.78	-1.81	-2.28	-2.41	-3.54
Purchase of Property, Plant & Equipment	-12	4.02	-0.74	-1.88	-1.84	-9.64	-1.90	-1.81	-2.28	-2.41	-3.54
Sale of Property, Plant & Equipment	-	-	0.00	-	-	10	2.68	-	-	-	0.00
Net Cash From Financing Activities	39	11	13	7.58	13	43	0.54	33	1.19	36	7.35
Net Cash From Continuing Financing Activities	39	11	13	7.58	13	43	0.54	33	1.19	36	7.35
Repayment of Debt	-0.74	-0.76	-0.64	-1.87	3.03	-5.78	-0.31	-0.67	-0.75	-56	-4.59
Issuance of Debt	8.00	6.03	10.00	9.51	10	49	0.92	0.92	0.92	65	0.00
Issuance of Common Equity	30	5.70	3.81	-	0.08	-	0.00	42	8.21	48	12
Other Financing Activities, net	2.16	-0.08	-0.06	-0.06	-0.06	-0.04	-0.06	-9.58	-7.20	-21	-0.07

This table presents Surf Air Mobility's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024	2025
Period end date	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	14	111	124	132
Total Current Assets	7.92	18	34	31
Cash & Equivalents	0.01	1.72	21	13
Accounts Receivable	0.16	4.97	4.26	3.93
Prepaid Expenses	7.76	11	8.51	14
Plant, Property, & Equipment, net	0.62	46	42	46
Total Noncurrent Assets	5.15	47	48	55
Noncurrent Note & Lease Receivables	0.00	1.34	1.12	0.81
Intangible Assets	1.29	27	23	20
Other Noncurrent Operating Assets	3.87	19	24	34
Total Liabilities & Shareholders' Equity	14	111	124	132
Total Liabilities	105	188	244	187
Total Current Liabilities	57	140	90	134
Short-Term Debt	0.00	5.18	2.54	2.71
Accounts Payable	13	19	18	18
Accrued Expenses	15	60	45	48
Current Deferred Revenue	7.82	19	17	18
Other Current Liabilities	22	37	6.20	47
Total Noncurrent Liabilities	48	48	154	53
Long-Term Debt	0.00	21	67	40
Capital Lease Obligations	0.00	1.14	0.95	0.67
Other Noncurrent Operating Liabilities	48	27	86	13
Commitments & Contingencies	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	131	-	-	0.00
Total Equity & Noncontrolling Interests	-222	-77	-120	-55
Total Preferred & Common Equity	-222	-77	-120	-55
Preferred Stock	3.41	0.00	0.00	0.00
Total Common Equity	-226	-77	-120	-55
Common Stock	126	525	557	733
Retained Earnings	-352	-603	-677	-788

This table presents Surf Air Mobility's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	185	109	106	98	105	129	107	121
Total Current Assets	28	17	16	14	20	39	22	21
Cash & Equivalents	5.92	1.28	1.46	0.51	6.63	23	7.06	4.16
Accounts Receivable	3.92	4.71	4.49	4.36	4.73	5.31	5.04	3.71
Prepaid Expenses	18	11	9.93	9.31	8.63	11	9.92	13
Plant, Property, & Equipment, net	49	47	47	44	40	42	44	47
Total Noncurrent Assets	108	45	43	40	46	48	41	52
Noncurrent Note & Lease Receivables	1.42	1.35	1.27	1.19	1.04	0.96	0.88	0.74
Intangible Assets	35	26	25	24	22	22	21	19
Other Noncurrent Operating Assets	14	18	16	15	22	26	20	32
Total Liabilities & Shareholders' Equity	185	109	106	98	105	129	107	121
Total Liabilities	157	215	234	233	241	244	199	177
Total Current Liabilities	104	165	187	133	92	97	88	133
Short-Term Debt	2.94	5.08	4.92	4.82	2.59	2.61	2.66	2.74
Accounts Payable	20	21	26	27	18	19	16	21
Accrued Expenses	46	72	79	73	48	50	48	41
Current Deferred Revenue	16	18	17	15	17	18	16	19
Other Current Liabilities	19	49	60	14	6.71	7.56	5.55	49
Total Noncurrent Liabilities	53	50	47	100	149	147	111	44
Long-Term Debt	24	20	18	18	60	61	61	28
Capital Lease Obligations	1.21	1.14	4.97	1.01	12	0.81	0.74	0.60
Other Noncurrent Operating Liabilities	28	28	23	82	77	86	49	16
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	0.00	-	-	-	-	-	-	6.60
Total Equity & Noncontrolling Interests	28	-106	-128	-136	-136	-115	-93	-63
Total Preferred & Common Equity	28	-106	-128	-136	-136	-115	-93	-63
Preferred Stock	0.00	-	-	-	-	-	-	0.00
Total Common Equity	28	-106	-128	-136	-136	-115	-93	-63
Common Stock	520	533	538	543	560	608	659	745
Retained Earnings	-492	-640	-666	-679	-696	-724	-751	-808

This table displays calculated financial ratios and metrics derived from Surf Air Mobility's official financial filings.

Metric	2022	2023	2024	2025
Period end date	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	0.00	73,626,963.00	15,508,391.00	52,266,051.00
DEI Adjusted Shares Outstanding	0.00	10,518,138.00	15,508,391.00	52,266,051.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	-23.83	-4.83	-2.12
Growth Metrics	-	-	-	-
Revenue Growth	0.00%	198.44%	97.38%	-10.78%
EBITDA Growth	0.00%	-213.88%	74.32%	-30.64%
EBIT Growth	0.00%	-214.49%	71.29%	-30.36%
NOPAT Growth	0.00%	-286.55%	69.38%	-27.58%
Net Income Growth	0.00%	-237.13%	70.12%	-47.59%
EPS Growth	0.00%	-237.13%	86.95%	45.69%
Operating Cash Flow Growth	0.00%	-129.59%	15.61%	-18.11%
Free Cash Flow Firm Growth	0.00%	0.00%	86.39%	-313.87%
Invested Capital Growth	0.00%	42.83%	-34.64%	65.08%
Revenue Q/Q Growth	0.00%	0.00%	1.03%	-1.48%
EBITDA Q/Q Growth	0.00%	0.00%	63.10%	-54.95%
EBIT Q/Q Growth	0.00%	0.00%	60.01%	-45.79%
NOPAT Q/Q Growth	0.00%	0.00%	65.94%	-79.24%
Net Income Q/Q Growth	0.00%	0.00%	59.98%	-52.68%
EPS Q/Q Growth	0.00%	0.00%	59.81%	-84.21%
Operating Cash Flow Q/Q Growth	0.00%	-26.85%	-8.56%	7.51%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	7.35%
Invested Capital Q/Q Growth	0.00%	0.00%	37.48%	29.94%
Profitability Metrics	-	-	-	-
Gross Margin	-22.44%	100.00%	100.00%	100.00%
EBITDA Margin	-387.91%	-407.98%	-53.07%	-77.71%
Operating Margin	-251.08%	-325.21%	-50.46%	-72.14%
EBIT Margin	-393.20%	-414.35%	-60.27%	-88.05%
Profit (Net Income) Margin	-366.79%	-414.34%	-62.72%	-103.75%
Tax Burden Percent	100.00%	98.70%	99.62%	99.66%
Interest Burden Percent	93.28%	101.31%	104.47%	118.23%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	81.34%	296.85%	75.86%	126.46%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	-582.00%	-402.14%	-61.24%	-73.38%
Return on Assets (ROA)	-542.91%	-402.12%	-63.74%	-86.46%
Return on Common Equity (ROCE)	200.63%	532.49%	75.86%	126.46%
Return on Equity Simple (ROE_SIMPLE)	33.48%	323.54%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-36	-138	-42	-54
NOPAT Margin	-175.76%	-227.65%	-35.32%	-50.50%
Net Nonoperating Expense Percent (NNEP)	-645,486.67%	896.32%	87.48%	142.05%
Return On Investment Capital (ROIC_SIMPLE)	-	272.46%	85.60%	452.09%
Cost of Revenue to Revenue	122.44%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	181.63%	166.38%	25.00%	50.01%
R&D to Revenue	16.22%	34.46%	20.13%	9.67%
Operating Expenses to Revenue	228.64%	425.21%	150.46%	172.14%
Earnings before Interest and Taxes (EBIT)	-80	-251	-72	-94
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-79	-247	-63	-83
Valuation Ratios	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	20.15	1.89	0.70	0.95
Price to Earnings (P/E)	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	26.76	2.30	1.12	1.24
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-
Debt to Equity	0.00	-0.35	-0.59	-0.78
Long-Term Debt to Equity	0.00	-0.28	-0.57	-0.73
Financial Leverage	0.00	-0.15	-0.38	-0.46
Leverage Ratio	-0.15	-0.74	-1.19	-1.46
Compound Leverage Factor	-0.14	-0.75	-1.24	-1.73
Debt to Total Capital	0.00%	-53.27%	-143.52%	-360.87%
Short-Term Debt to Total Capital	0.00%	-10.24%	-5.16%	-22.78%
Long-Term Debt to Total Capital	0.00%	-43.03%	-138.36%	-338.08%
Preferred Equity to Total Capital	-3.73%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	-142.93%	0.00%	0.00%	0.00%
Common Equity to Total Capital	246.66%	153.27%	243.52%	460.87%
Debt to EBITDA	0.00	-0.11	-1.12	-0.52
Net Debt to EBITDA	0.00	-0.10	-0.78	-0.37
Long-Term Debt to EBITDA	0.00	-0.09	-1.08	-0.49
Debt to NOPAT	0.00	-0.20	-1.68	-0.80
Net Debt to NOPAT	0.00	-0.18	-1.18	-0.56
Long-Term Debt to NOPAT	0.00	-0.16	-1.62	-0.75
Altman Z-Score	-55.69	-15.47	-8.93	-10.53
Noncontrolling Interest Sharing Ratio	-146.66%	-79.38%	0.00%	0.00%
Liquidity Ratios	-	-	-	-
Current Ratio	0.14	0.13	0.38	0.23
Quick Ratio	0.00	0.05	0.28	0.12
Cash Flow Metrics	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-177	-24	-100
Operating Cash Flow to CapEx	-9,408.39%	-827.60%	-1,505.18%	-1,123.45%
Free Cash Flow to Firm to Interest Expense	0.00	-53.68	-7.48	-5.82
Operating Cash Flow to Interest Expense	0.00	-19.54	-16.88	-3.75
Operating Cash Flow Less CapEx to Interest Expense	0.00	-21.90	-18.00	-4.08
Efficiency Ratios	-	-	-	-
Asset Turnover	1.48	0.97	1.02	0.83
Accounts Receivable Turnover	125.93	23.61	25.90	26.03
Inventory Turnover	0.00	0.00	0.00	0.00
Fixed Asset Turnover	32.49	2.60	2.71	2.43
Accounts Payable Turnover	1.93	0.00	0.00	0.00
Days Sales Outstanding (DSO)	2.90	15.46	14.09	14.02
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	189.54	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	-186.64	15.46	14.09	14.02
Capital & Investment Metrics	-	-	-	-
Invested Capital	-91	-52	-70	-25
Invested Capital Turnover	-0.22	-0.84	-1.95	-2.24
Increase / (Decrease) in Invested Capital	0.00	39	-18	46
Enterprise Value (EV)	543	139	133	132
Market Capitalization	408	114	84	101
Book Value per Share	($16.71)	($1.05)	($7.74)	($1.05)
Tangible Book Value per Share	($16.81)	($1.41)	($9.23)	($1.43)
Total Capital	-91	-51	-49	-12
Total Debt	0.00	27	71	43
Total Long-Term Debt	0.00	22	68	40
Net Debt	-0.01	25	50	30
Capital Expenditures (CapEx)	0.30	7.78	3.61	5.71
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-49	-119	-74	-113
Debt-free Net Working Capital (DFNWC)	-49	-117	-53	-100
Net Working Capital (NWC)	-49	-122	-56	-103
Net Nonoperating Expense (NNE)	39	113	33	57
Net Nonoperating Obligations (NNO)	-0.01	25	50	30
Total Depreciation and Amortization (D&A)	1.07	3.86	8.59	11
Debt-free, Cash-free Net Working Capital to Revenue	-244.07%	-196.55%	-62.21%	-105.72%
Debt-free Net Working Capital to Revenue	-244.04%	-193.70%	-44.54%	-93.82%
Net Working Capital to Revenue	-244.04%	-202.26%	-46.67%	-96.37%
Earnings Adjustments	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($44.45)	($5.80)	($3.15)
Adjusted Weighted Average Basic Shares Outstanding	0.00	5.64M	12.91M	35.10M
Adjusted Diluted Earnings per Share	$0.00	($44.45)	($5.80)	($3.15)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	5.64M	12.91M	35.10M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	11.54M	16.95M	76.99M
Normalized Net Operating Profit after Tax (NOPAT)	-36	-96	-42	-54
Normalized NOPAT Margin	-175.76%	-158.18%	-35.32%	-50.50%
Pre Tax Income Margin	-366.79%	-419.80%	-62.96%	-104.11%
Debt Service Ratios	-	-	-	-
EBIT to Interest Expense	0.00	-76.09	-22.36	-5.48
NOPAT to Interest Expense	0.00	-41.80	-13.10	-3.15
EBIT Less CapEx to Interest Expense	0.00	-78.45	-23.48	-5.82
NOPAT Less CapEx to Interest Expense	0.00	-44.16	-14.22	-3.48
Payout Ratios	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Surf Air Mobility's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	0.00	73,626,963.00	80,772,431.00	83,035,258.00	89,785,706.00	15,508,391.00	16,946,981.00	19,283,800.00	42,826,070.00	52,266,051.00	76,993,252.00
DEI Adjusted Shares Outstanding	0.00	10,518,138.00	11,538,919.00	11,862,180.00	12,826,529.00	15,508,391.00	16,946,981.00	19,283,800.00	42,826,070.00	52,266,051.00	76,993,252.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	-10.55	-3.20	-2.27	-0.95	0.08	-1.09	-1.45	-0.64	-0.71	-0.26
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	332.25%	0.00%	456.09%	422.45%	29.22%	4.52%	-23.24%	-15.25%	2.77%	-5.71%	8.96%
EBITDA Growth	-417.62%	0.00%	-65.38%	46.94%	89.48%	100.85%	64.25%	7.61%	-165.45%	-3,198.80%	-37.22%
EBIT Growth	-265.76%	0.00%	-73.22%	42.42%	86.87%	98.74%	58.51%	3.23%	-136.60%	-2,140.23%	-30.10%
NOPAT Growth	-467.42%	0.00%	-186.11%	-92.01%	86.29%	112.58%	46.14%	36.92%	-91.02%	-289.47%	28.07%
Net Income Growth	-252.93%	0.00%	-79.68%	39.39%	83.61%	101.14%	50.04%	-3.76%	-122.60%	-3,015.34%	-9.73%
EPS Growth	-252.93%	0.00%	-79.68%	39.39%	90.16%	100.51%	67.46%	41.99%	31.91%	-1,150.00%	76.15%
Operating Cash Flow Growth	0.00%	-240.26%	-42.00%	51.54%	49.66%	-22.20%	-23.37%	-89.31%	-57.12%	22.09%	22.48%
Free Cash Flow Firm Growth	0.00%	0.00%	0.00%	0.00%	266.24%	0.00%	-146.71%	-146.07%	-156.85%	-331.02%	-77.09%
Invested Capital Growth	0.00%	0.00%	0.00%	0.00%	-324.71%	-34.64%	16.89%	27.02%	68.84%	65.08%	56.19%
Revenue Q/Q Growth	254.59%	22.17%	14.12%	5.69%	-12.30%	-1.19%	-16.20%	16.70%	6.35%	-9.34%	-3.16%
EBITDA Q/Q Growth	-75.12%	-41.56%	69.00%	30.96%	65.28%	111.50%	-1,397.39%	-78.42%	0.24%	-34.19%	42.55%
EBIT Q/Q Growth	-77.29%	-41.50%	67.69%	28.96%	59.57%	86.44%	-964.85%	-65.70%	1.14%	-28.43%	38.16%
NOPAT Q/Q Growth	-379.12%	-72.23%	68.24%	26.73%	65.80%	258.11%	-235.95%	14.20%	-3.57%	-56.82%	48.39%
Net Income Q/Q Growth	-67.59%	-48.77%	66.70%	27.00%	54.69%	110.35%	-1,559.76%	-51.62%	2.80%	-35.52%	45.06%
EPS Q/Q Growth	-67.59%	-48.77%	66.70%	27.00%	59.31%	110.64%	-1,190.00%	-22.94%	52.24%	-64.06%	75.24%
Operating Cash Flow Q/Q Growth	-110.78%	21.09%	33.61%	56.11%	-118.96%	-91.55%	32.98%	32.66%	-81.73%	5.01%	33.31%
Free Cash Flow Firm Q/Q Growth	0.00%	100.00%	0.00%	46.10%	87.28%	-82.33%	-196.63%	-44.09%	-131.14%	28.22%	25.93%
Invested Capital Q/Q Growth	0.00%	-204.35%	-55.66%	-24.50%	-11.12%	37.48%	3.91%	-9.32%	52.56%	29.94%	-20.57%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	6.18%	203.07%	6.97%	14.33%	100.00%	300.43%	100.00%	100.00%	5.18%	298.00%	100.00%
EBITDA Margin	-345.54%	-400.41%	-108.79%	-71.06%	-28.13%	3.27%	-50.67%	-77.47%	-72.67%	-107.56%	-63.81%
Operating Margin	-286.90%	-404.46%	-112.56%	-78.04%	-30.43%	28.91%	-78.99%	-58.08%	-56.56%	-97.84%	-52.14%
EBIT Margin	-351.93%	-407.62%	-115.40%	-77.57%	-35.76%	-4.91%	-62.38%	-88.57%	-82.34%	-116.64%	-74.48%
Profit (Net Income) Margin	-339.64%	-413.60%	-120.71%	-83.37%	-43.07%	4.51%	-78.56%	-102.07%	-93.28%	-139.44%	-79.11%
Tax Burden Percent	95.43%	100.24%	99.88%	99.87%	99.89%	117.89%	99.71%	99.77%	99.77%	99.46%	99.81%
Interest Burden Percent	101.13%	101.22%	104.73%	107.61%	120.56%	-77.92%	126.30%	115.50%	113.55%	120.20%	106.42%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	-17.89%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	0.00%	296.85%	251.26%	389.65%	348.83%	75.86%	46.63%	47.15%	63.47%	126.46%	116.89%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	0.00%	-395.60%	-90.83%	-164.33%	-29.84%	-4.99%	-65.46%	-81.10%	-87.03%	-97.20%	-71.59%
Return on Assets (ROA)	0.00%	-401.41%	-95.00%	-176.60%	-35.93%	4.58%	-82.43%	-93.46%	-98.60%	-116.20%	-76.04%
Return on Common Equity (ROCE)	0.00%	532.49%	251.26%	389.65%	348.83%	75.86%	46.63%	47.15%	63.47%	126.46%	120.91%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	251.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-44	-76	-24	-18	-6.05	9.56	-13	-11	-12	-18	-9.35
NOPAT Margin	-200.83%	-283.12%	-78.79%	-54.62%	-21.30%	34.08%	-55.29%	-40.65%	-39.59%	-68.49%	-36.50%
Net Nonoperating Expense Percent (NNEP)	279.76%	138.89%	102.98%	69.48%	27.56%	22.17%	11.77%	49.31%	38.91%	46.98%	22.98%
Return On Investment Capital (ROIC_SIMPLE)	-	150.29%	30.13%	17.71%	5.40%	-19.40%	21.30%	21.71%	41.23%	152.17%	29.15%
Cost of Revenue to Revenue	93.82%	-103.07%	93.03%	85.67%	0.00%	-200.43%	0.00%	0.00%	94.82%	-198.00%	0.00%
SG&A Expenses to Revenue	253.19%	101.78%	80.36%	60.55%	1.46%	-52.65%	46.31%	46.04%	38.39%	70.22%	23.66%
R&D to Revenue	13.10%	60.91%	22.89%	17.48%	20.12%	20.19%	11.40%	9.97%	7.98%	9.67%	9.55%
Operating Expenses to Revenue	293.08%	607.53%	119.53%	92.36%	130.43%	271.52%	178.99%	158.08%	61.74%	395.84%	152.14%
Earnings before Interest and Taxes (EBIT)	-77	-109	-35	-25	-10	-1.38	-15	-24	-24	-31	-19
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-76	-107	-33	-23	-7.99	0.92	-12	-21	-21	-28	-16
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.00	1.89	0.80	0.29	0.15	0.70	0.40	0.66	1.70	0.95	0.81
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	2.30	1.09	0.53	0.34	1.12	1.01	1.05	2.23	1.24	1.12
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.98	-0.35	-0.25	-0.22	-0.17	-0.59	-0.55	-0.56	-0.70	-0.78	-0.55
Long-Term Debt to Equity	0.88	-0.28	-0.20	-0.18	-0.14	-0.57	-0.53	-0.53	-0.67	-0.73	-0.50
Financial Leverage	0.77	-0.33	-0.23	-0.21	-0.42	-0.38	-0.38	-0.28	-0.35	-0.46	-0.49
Leverage Ratio	6.55	-0.74	-1.02	-0.82	-2.64	-1.19	-0.88	-0.96	-0.90	-1.46	-1.18
Compound Leverage Factor	6.63	-0.75	-1.07	-0.89	-3.18	0.93	-1.12	-1.11	-1.02	-1.76	-1.25
Debt to Total Capital	49.48%	-53.27%	-32.72%	-28.28%	-21.01%	-143.52%	-122.34%	-124.83%	-230.38%	-360.87%	-122.24%
Short-Term Debt to Total Capital	5.25%	-10.24%	-6.34%	-4.93%	-4.30%	-5.16%	-4.24%	-5.08%	-9.49%	-22.78%	-10.76%
Long-Term Debt to Total Capital	44.23%	-43.03%	-26.38%	-23.35%	-16.70%	-138.36%	-118.10%	-119.75%	-220.89%	-338.08%	-111.47%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-25.92%
Common Equity to Total Capital	50.52%	153.27%	132.72%	128.28%	121.01%	243.52%	222.34%	224.83%	330.38%	460.87%	248.15%
Debt to EBITDA	0.00	-0.11	-0.10	-0.12	-0.14	-1.12	-1.78	-1.59	-1.21	-0.52	-0.36
Net Debt to EBITDA	0.00	-0.10	-0.10	-0.11	-0.13	-0.78	-1.62	-1.03	-1.08	-0.37	-0.31
Long-Term Debt to EBITDA	0.00	-0.09	-0.08	-0.10	-0.11	-1.08	-1.72	-1.53	-1.16	-0.49	-0.33
Debt to NOPAT	0.00	-0.20	-0.17	-0.17	-0.19	-1.68	-2.40	-2.62	-2.15	-0.80	-0.62
Net Debt to NOPAT	0.00	-0.18	-0.16	-0.17	-0.19	-1.18	-2.19	-1.69	-1.91	-0.56	-0.54
Long-Term Debt to NOPAT	0.00	-0.16	-0.14	-0.14	-0.15	-1.62	-2.32	-2.51	-2.06	-0.75	-0.57
Altman Z-Score	0.00	-11.27	-9.97	-10.43	-10.26	-7.05	-9.36	-8.01	-9.77	-8.95	-9.80
Noncontrolling Interest Sharing Ratio	0.00%	-79.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-3.43%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.27	0.13	0.10	0.09	0.11	0.38	0.22	0.40	0.25	0.23	0.16
Quick Ratio	0.09	0.05	0.04	0.03	0.04	0.28	0.12	0.29	0.14	0.12	0.06
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-94	0.00	57	84	157	28	-27	-39	-89	-64	-47
Operating Cash Flow to CapEx	-212.62%	0.00%	-1,724.09%	-299.36%	-667.57%	0.00%	0.00%	-589.31%	-849.41%	-762.32%	-346.20%
Free Cash Flow to Firm to Interest Expense	-108.04	0.00	34.26	43.76	75.05	0.00	-6.93	-10.23	-27.36	-10.26	-38.68
Operating Cash Flow to Interest Expense	-28.04	-14.42	-7.67	-2.94	-5.90	0.00	-4.10	-2.83	-5.94	-2.95	-10.01
Operating Cash Flow Less CapEx to Interest Expense	-41.23	-11.41	-8.11	-3.92	-6.78	0.00	-3.90	-3.31	-6.64	-3.33	-12.90
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.97	0.79	2.12	0.83	1.02	1.05	0.92	1.06	0.83	0.96
Accounts Receivable Turnover	0.00	23.61	18.18	0.00	28.57	25.90	23.80	21.92	23.02	26.03	25.77
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	2.60	1.83	0.00	2.54	2.71	2.60	2.41	2.47	2.43	2.50
Accounts Payable Turnover	0.00	0.00	1.38	0.00	1.22	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	15.46	20.08	0.00	12.78	14.09	15.34	16.65	15.85	14.02	14.16
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	263.61	0.00	298.99	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	15.46	-243.53	0.00	-286.22	14.09	15.34	16.65	15.85	14.02	14.16
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	50	-52	-81	-101	-113	-70	-68	-74	-35	-25	-30
Invested Capital Turnover	0.00	-1.16	-2.10	-2.21	-3.78	-1.95	-1.51	-1.23	-1.47	-2.24	-2.23
Increase / (Decrease) in Invested Capital	50	0.00	-81	-101	-163	-18	14	27	77	46	38
Enterprise Value (EV)	0.00	139	93	59	40	133	113	113	241	132	122
Market Capitalization	0.00	114	68	32	17	84	45	71	184	101	89
Book Value per Share	$3.62	($1.05)	($1.32)	($1.54)	($1.51)	($7.74)	($8.00)	($5.99)	($2.16)	($1.05)	($0.82)
Tangible Book Value per Share	($8.25)	($1.41)	($1.64)	($1.84)	($1.78)	($9.23)	($9.32)	($7.11)	($2.65)	($1.43)	($1.07)
Total Capital	56	-51	-80	-100	-112	-49	-61	-51	-28	-12	-25
Total Debt	28	27	26	28	24	71	75	64	65	43	31
Total Long-Term Debt	25	22	21	23	19	68	72	62	62	40	28
Net Debt	22	25	25	27	23	50	68	42	57	30	27
Capital Expenditures (CapEx)	12	-4.02	0.74	1.88	1.84	-0.86	-0.78	1.81	2.28	2.41	3.54
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-79	-119	-145	-168	-115	-74	-76	-78	-71	-113	-113
Debt-free Net Working Capital (DFNWC)	-74	-117	-144	-166	-114	-53	-70	-56	-63	-100	-109
Net Working Capital (NWC)	-76	-122	-149	-171	-119	-56	-72	-58	-66	-103	-112
Net Nonoperating Expense (NNE)	30	35	13	9.30	6.18	8.30	5.47	17	16	19	11
Net Nonoperating Obligations (NNO)	22	25	25	27	23	50	68	42	57	30	27
Total Depreciation and Amortization (D&A)	1.40	1.94	2.03	2.11	2.17	2.30	2.75	3.05	2.82	2.40	2.73
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-196.55%	-169.30%	-149.84%	-96.95%	-62.21%	-67.79%	-72.94%	-65.20%	-105.72%	-104.26%
Debt-free Net Working Capital to Revenue	0.00%	-193.70%	-167.80%	-148.53%	-96.52%	-44.54%	-61.89%	-51.92%	-58.67%	-93.82%	-100.43%
Net Working Capital to Revenue	0.00%	-202.26%	-173.74%	-152.93%	-100.60%	-46.67%	-64.19%	-54.35%	-61.13%	-96.37%	-102.95%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($9.52)	($137.83)	($3.36)	($2.31)	($0.94)	$0.10	($1.09)	($1.34)	($0.64)	($1.05)	($0.26)
Adjusted Weighted Average Basic Shares Outstanding	7.81M	805.45K	11.04M	11.70M	12.97M	12.91M	16.91M	20.90M	42.43M	35.10M	76.87M
Adjusted Diluted Earnings per Share	($9.52)	($137.83)	($3.36)	($2.31)	($0.94)	$0.10	($1.09)	($1.34)	($0.64)	($1.05)	($0.26)
Adjusted Weighted Average Diluted Shares Outstanding	7.81M	805.45K	11.04M	11.70M	12.97M	12.91M	16.91M	20.90M	42.43M	35.10M	76.87M
Adjusted Basic & Diluted Earnings per Share	$0.00	($137.83)	$0.00	$0.00	$0.00	$0.10	$0.00	$0.00	$0.00	($1.05)	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	10.52M	11.54M	11.86M	12.83M	15.51M	16.95M	19.28M	42.83M	52.27M	76.99M	100.40M
Normalized Net Operating Profit after Tax (NOPAT)	-44	-76	-24	-18	-6.05	5.68	-13	-11	-12	-18	-9.35
Normalized NOPAT Margin	-200.83%	-283.12%	-78.79%	-54.62%	-21.30%	20.24%	-55.29%	-40.65%	-39.59%	-68.49%	-36.50%
Pre Tax Income Margin	-355.90%	-412.61%	-120.86%	-83.48%	-43.12%	3.83%	-78.78%	-102.30%	-93.50%	-140.20%	-79.26%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-88.66	-81.76	-21.15	-13.14	-4.86	0.00	-3.80	-6.45	-7.38	-4.95	-15.59
NOPAT to Interest Expense	-50.59	-56.79	-14.44	-9.25	-2.90	0.00	-3.37	-2.96	-3.55	-2.91	-7.64
EBIT Less CapEx to Interest Expense	-101.85	-78.75	-21.59	-14.12	-5.75	0.00	-3.60	-6.93	-8.08	-5.34	-18.48
NOPAT Less CapEx to Interest Expense	-63.78	-53.78	-14.88	-10.23	-3.78	0.00	-3.17	-3.44	-4.25	-3.29	-10.53
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Surf Air Mobility Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Surf Air Mobility's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Surf Air Mobility's net income appears to be on a downward trend, with a most recent value of -$110.56 million in 2025, rising from -$74.36 million in 2022. The previous period was -$74.91 million in 2024. Check out Surf Air Mobility's forecast to explore projected trends and price targets.

Surf Air Mobility's total operating income in 2025 was -$76.87 million, based on the following breakdown:

Total Gross Profit: $106.56 million
Total Operating Expenses: $183.43 million

Over the last 3 years, Surf Air Mobility's total revenue changed from $20.27 million in 2022 to $106.56 million in 2025, a change of 425.6%.

Surf Air Mobility's total liabilities were at $186.54 million at the end of 2025, a 23.6% decrease from 2024, and a 77.5% increase since 2022.

In the past 3 years, Surf Air Mobility's cash and equivalents has ranged from $6 thousand in 2022 to $21.11 million in 2024, and is currently $12.67 million as of their latest financial filing in 2025.

Over the last 3 years, Surf Air Mobility's book value per share changed from -16.71 in 2022 to -1.05 in 2025, a change of -93.7%.

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Financial statements for NYSE:SRFM last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Surf Air Mobility (SRFM) Financials

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Surf Air Mobility Financials - Frequently Asked Questions

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Surf Air Mobility (SRFM) Financials

Annual Income Statements for Surf Air Mobility

Quarterly Income Statements for Surf Air Mobility

Annual Cash Flow Statements for Surf Air Mobility

Quarterly Cash Flow Statements for Surf Air Mobility

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Quarterly Balance Sheets for Surf Air Mobility

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Quarterly Metrics And Ratios for Surf Air Mobility

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Surf Air Mobility Financials - Frequently Asked Questions

When does Surf Air Mobility's financial year end?

How has Surf Air Mobility's net income changed over the last 3 years?

What is Surf Air Mobility's operating income?

How has Surf Air Mobility's revenue changed over the last 3 years?

How much debt does Surf Air Mobility have?

How much cash does Surf Air Mobility have?

How has Surf Air Mobility's book value per share changed over the last 3 years?

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