Surf Air Mobility Inc. - SRFM STOCK NEWS

Surf Air Mobility (NYSE: SRFM) has announced a $5 million registered direct offering of common stock, pricing 2,000,000 shares at $2.50 per share. The offering includes options for pre-funded warrants in lieu of common stock.

The transaction, expected to close around April 1, 2025, is being facilitated by H.C. Wainwright & Co. as the exclusive placement agent. The company plans to use the net proceeds to reduce certain debt obligations and for general corporate purposes.

The offering is being conducted under a previously filed shelf registration statement on Form S-3, which was declared effective by the SEC on March 26, 2025.

Surf Air Mobility Inc. (NYSE: SRFM) has received coverage initiation from Stonegate Capital Partners. The company reported strong financial results with revenue of $28.0M, adjusted EBITDA of ($6.9M), and adjusted EPS of $1.27.

Notable achievements include exceeding both revenue and EBITDA guidance, driven by significant growth in On Demand service revenue, which increased 39% over Q4 2023 and 28% for FY24 compared to FY23. The company has transitioned from its Transformation Phase to the Optimization Phase, focusing on improving profitability through strategic cost reductions.

Additionally, SRFM secured a $50.0M term loan and extended its secured debt maturity. The company also obtained MOUs from seven customers for the upgrade of approximately 100 aircraft.

Surf Air Mobility (NYSE: SRFM) reported its Q4 and full-year 2024 financial results, showing mixed performance. Q4 revenue increased 5% to $28.05 million, while full-year revenue grew 6% to $119.4 million.

The company achieved a notable turnaround in Q4, posting a net income of $1.3 million, compared to a $111.0 million loss in the previous year. The Q4 Adjusted EBITDA loss improved by 63% to $6.9 million. For the full year, net loss improved by 70% to $74.9 million.

Key developments include securing a $50 million term loan, reducing liabilities by over $42 million, and exiting unprofitable routes saving $4.6 million annually. The company launched SurfOS with six beta users and continues progress on its electrification project with plans for Cessna Caravan certification in 2027.

For 2025, Surf Air expects Q1 revenue between $21-24 million and projects full-year revenues to exceed $100 million, with airline operations targeted to achieve profitability.

Surf Air Mobility (NYSE: SRFM), a regional air mobility platform, has scheduled the release of its fourth quarter and year end 2024 financial results for March 18, 2025, after market close. The company will host a webcast at 5:00 pm ET on the same day.

Interested parties can participate through advance registration for the webcast or access it through the company's investor relations website's 'Events & Presentations' section. Additionally, participants can join via phone using the toll-free number (800) 715-9871 for North America or (646) 307-1963 for international calls, with Conference ID: 4775356.

Surf Air Mobility (NYSE: SRFM) has announced agreements with six air operator beta customers for its new SurfOS platform, an AI-enabled operating system for the Advanced Air Mobility industry powered by Palantir Technologies.

The software platform aims to enhance efficiency, reduce costs, and boost productivity across the advanced air mobility sector. Launch customers will receive access to customized tools for charter flight distribution, customer relationship management, and flight pricing optimization, along with direct-to-consumer flight distribution capabilities.

Recent SurfOS feature rollouts include AI-based charter broker tools, direct integrations with supply partners, resource planning systems, business intelligence dashboards, and multi-lingual marketplace capabilities. The company plans to establish Surf Air Technologies, a new venture focused on developing and marketing SurfOS to thousands of Part 135 regional air operators.

Surf Air Mobility (NYSE: SRFM) has announced two strategic appointments to strengthen its aviation leadership team. Bob Waltz will join as Vice President of Flight Operations (effective March 1, 2025), while Linda MacAskill will serve as Director of System Operations Center (effective December 1, 2024).

Both executives will be based at Surf Air's new air operations center (AOC) in Addison, TX, where the company is actively recruiting for various positions including Maintenance, Safety & Regulatory Compliance, Finance & Accounting, and Operations. According to CEO and COO Deanna White, these appointments align with the second phase of their Transformation Plan - Optimization, aimed at achieving profitability in air operations this year.

Surf Air Mobility (NYSE: SRFM) has announced the relocation of its Air Operations Center (AOC) to Addison, Texas, a Dallas suburb. This strategic move is part of the company's broader Transformation Plan that aims to consolidate operations departments and position Surf Air within one of America's major aviation hubs.

The company is actively recruiting aviation professionals in the Dallas metro area across multiple departments, including Maintenance, Safety & Regulatory Compliance, Finance & Accounting, and Operations. This relocation leverages Dallas's vibrant aviation ecosystem and skilled talent pool to support Surf Air's mission of transforming regional flying.

According to Deanna White, CEO and COO, the move "reflects our commitment to excellence in the aviation industry" and represents "another achievement within our Transformation Plan." The company expects this centralization to streamline business operations and help bring its air operations to profitability in 2025, defined as positive Adjusted EBITDA. Surf Air will maintain its offices in Hawthorne, CA.

Surf Air Mobility (NYSE: SRFM) has released its second video presentation detailing the company's business plan and operations, specifically focusing on its Air Mobility business strategy. The presentation, narrated by CEO and COO Deanna White, outlines the company's path to achieve profitable airline operations by 2025, as measured by Adjusted EBITDA.

White, who was appointed CEO on December 10, 2024, previously served as the company's CFO since 2022. She brings significant aviation industry experience, having served as COO at Kitty Hawk, where she led eVTOL aircraft program operations, and as CEO and CFO at Bombardier Flexjet. The presentation highlights the company's Transformation Plan, which is now entering its second phase, Optimization.

Surf Air Mobility (NYSE: SRFM), a regional air mobility platform, has released its first video presentation in a new series focusing on the company's business plan and operations. The presentation, narrated by CFO Oliver Reeves, details the company's Transformation Plan and growth opportunities across its Air Mobility and Air Technology business segments. The video is available on the company's investor website.