Stonegate Capital Partners Initiates Coverage on Surf Air Mobility Inc. (SRFM)
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 Inc. (NYSE: SRFM) ha ricevuto l'inizio della copertura da parte di Stonegate Capital Partners. L'azienda ha riportato risultati finanziari solidi con un fatturato di $28,0M, EBITDA rettificato di ($6,9M) e EPS rettificato di $1,27.
Tra i risultati notevoli c'è il superamento delle previsioni sia per il fatturato che per l'EBITDA, grazie a una crescita significativa nel fatturato del servizio On Demand, che è aumentato del 39% rispetto al Q4 2023 e del 28% per l'anno fiscale 2024 rispetto all'anno fiscale 2023. L'azienda è passata dalla Fase di Trasformazione alla Fase di Ottimizzazione, concentrandosi sul miglioramento della redditività attraverso riduzioni strategiche dei costi.
Inoltre, SRFM ha ottenuto un prestito a termine di $50,0M e ha esteso la scadenza del suo debito garantito. L'azienda ha anche ricevuto MOUs da sette clienti per l'aggiornamento di circa 100 aerei.
Surf Air Mobility Inc. (NYSE: SRFM) ha recibido el inicio de cobertura por parte de Stonegate Capital Partners. La empresa reportó resultados financieros sólidos con ingresos de $28.0M, EBITDA ajustado de ($6.9M) y EPS ajustado de $1.27.
Logros notables incluyen el superamiento de las proyecciones de ingresos y EBITDA, impulsados por un crecimiento significativo en los ingresos del servicio On Demand, que aumentó un 39% en comparación con el Q4 2023 y un 28% para el FY24 en comparación con el FY23. La empresa ha pasado de su Fase de Transformación a la Fase de Optimización, centrándose en mejorar la rentabilidad a través de reducciones estratégicas de costos.
Además, SRFM aseguró un préstamo a término de $50.0M y extendió el vencimiento de su deuda garantizada. La empresa también obtuvo MOUs de siete clientes para la actualización de aproximadamente 100 aeronaves.
서프 에어 모빌리티 주식회사 (NYSE: SRFM)는 스톤게이트 캐피탈 파트너스의 커버리지 시작을 받았습니다. 이 회사는 $28.0M의 수익, ($6.9M)의 조정 EBITDA, $1.27의 조정 EPS로 강력한 재무 결과를 보고했습니다.
주요 성과로는 수익과 EBITDA 가이던스를 모두 초과 달성한 것이 있으며, 이는 온디맨드 서비스 수익이 Q4 2023에 비해 39% 증가하고 FY24가 FY23에 비해 28% 증가한 데 기인합니다. 이 회사는 변혁 단계에서 최적화 단계로 전환했으며, 전략적 비용 절감을 통해 수익성을 개선하는 데 집중하고 있습니다.
또한, SRFM은 $50.0M의 기간 대출을 확보하고 담보 부채 만기를 연장했습니다. 이 회사는 약 100대 항공기의 업그레이드를 위해 7명의 고객으로부터 MOU를 받았습니다.
Surf Air Mobility Inc. (NYSE: SRFM) a reçu le début de couverture de Stonegate Capital Partners. L'entreprise a rapporté des résultats financiers solides avec des revenus de $28,0M, un EBITDA ajusté de ($6,9M) et un EPS ajusté de $1,27.
Parmi les réalisations notables, on trouve le dépassement des prévisions de revenus et d'EBITDA, soutenu par une croissance significative des revenus du service à la demande, qui a augmenté de 39% par rapport au Q4 2023 et de 28% pour l'exercice 2024 par rapport à l'exercice 2023. L'entreprise est passée de sa phase de transformation à la phase d'optimisation, en se concentrant sur l'amélioration de la rentabilité grâce à des réductions de coûts stratégiques.
De plus, SRFM a sécurisé un prêt à terme de $50,0M et a prolongé l'échéance de sa dette garantie. L'entreprise a également obtenu des MOUs de sept clients pour la mise à niveau d'environ 100 aéronefs.
Surf Air Mobility Inc. (NYSE: SRFM) hat von Stonegate Capital Partners eine Coverage-Initiative erhalten. Das Unternehmen berichtete von starken finanziellen Ergebnissen mit einem Umsatz von $28,0M, einem bereinigten EBITDA von ($6,9M) und einem bereinigten EPS von $1,27.
Bemerkenswerte Erfolge sind das Übertreffen der Umsatz- und EBITDA-Prognosen, angetrieben durch ein signifikantes Wachstum der On-Demand-Service-Umsätze, die im Vergleich zum Q4 2023 um 39% und im FY24 im Vergleich zum FY23 um 28% gestiegen sind. Das Unternehmen hat den Übergang von der Transformationsphase zur Optimierungsphase vollzogen und konzentriert sich darauf, die Rentabilität durch strategische Kostensenkungen zu verbessern.
Darüber hinaus sicherte sich SRFM ein $50,0M Darlehen und verlängerte die Fälligkeit seiner gesicherten Schulden. Das Unternehmen erhielt auch MOUs von sieben Kunden für die Aufrüstung von etwa 100 Flugzeugen.
- Revenue and EBITDA exceeded guidance
- On Demand service revenue grew 39% YoY in Q4
- Secured $50M term loan financing
- Signed MOUs for ~100 aircraft upgrades with seven customers
- Positive adjusted EPS of $1.27
- Negative adjusted EBITDA of ($6.9M)
- Profitability improvements not expected until late FY25
Dallas, Texas--(Newsfile Corp. - March 24, 2025) - Surf Air Mobility Inc. (NYSE: SRFM): Stonegate Capital Partners initiates their coverage on Surf Air Mobility Inc. (NYSE: SRFM). SRFM reported revenue, adj EBITDA, and adj EPS of
To view the full announcement, including downloadable images, bios, and more, click here.
Key Takeaways:
- On Demand service revenue, was up
39% over 4Q23 and28% for FY24 compared to FY23. - The Company signed MOUs from seven customers to upgrade ~100aircraft.
- In4Q24 SRFM secured a
$50.0M term loan on top of the maturity extension for the Company's secured debt.
Click image above to view full announcement.
About Stonegate
Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking services for public and private companies.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245800
FAQ
What was Surf Air Mobility's (SRFM) revenue and EBITDA performance in the latest quarter?
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How many aircraft upgrade MOUs did SRFM sign with customers?
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