NEW YORK, Jan. 15, 2024 (GLOBE NEWSWIRE) -- Blade Air Mobility, Inc. (Nasdaq: BLDE, “Blade” or the “Company”), a technology-powered air mobility platform, today announced that Management will present at the 26th Annual Needham Growth Conference on Wednesday, January 17, 2024 at 4:30 am ET. A webcast of the event will be available at the link here. A replay will be available shortly after the conclusion of the presentation on the investor relations section of the company’s website at https://ir.blade.com/new ...

BLADE November 2023 FORWARD LOOKING STATEMENTS Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Blade's control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements include: our continued incurrence of significant losses; ...

Blade Air Mobility, Inc. (NASDAQ:BLDE) Q3 2023 Earnings Conference Call November 8, 2023 8:00 AM ET Company Participants Lee Gold – Investor Relations Rob Wiesenthal – Founder and Chief Executive Officer Will Heyburn – Chief Financial Officer Conference Call Participants Hillary Cacanando – Deutsche Bank Jason Helfstein – Oppenheimer Bill Peterson – JPMorgan Itay Michaeli – Citi Jon Hickman – Ladenburg Thalmann Operator Good morning, ladies and gentlemen, and welcome to the Blade Air Mobility Fiscal Third Q ...

Financial Performance - Revenue for Q3 2023 reached $71,442,000, a 56% increase from $45,722,000 in Q3 2022[71] - Year-to-date revenue for the nine months ended September 30, 2023, was $177,702,000, up 64% from $107,985,000 in the same period of 2022[71] - For the three months ended September 30, 2023, Blade Air Mobility reported revenue of $30.71 million, a decrease from $45.72 million in the same period of 2022, representing a decline of approximately 33%[107] - Total revenue for the nine months ended September 30, 2023, was $177,702,000, a 64.4% increase from $107,985,000 in the same period of 2022[161] - Passenger segment revenue for the three months ended September 30, 2023, was $37,995,000, up 48.9% from $25,503,000 in the same period of 2022[161] - Medical segment revenue for the three months ended September 30, 2023, was $33,447,000, an increase of 65.0% compared to $20,219,000 in the same period of 2022[161] Expenses and Losses - Cost of revenue for Q3 2023 was $55,863,000, compared to $36,456,000 in Q3 2022, reflecting a 53% increase[71] - Operating expenses totaled $78,890,000 in Q3 2023, up from $56,150,000 in Q3 2022, marking a 40% increase[71] - The net loss for Q3 2023 was $289,000, a significant improvement compared to a net loss of $9,245,000 in Q3 2022[71] - The company reported a net loss of $7,448 million for Q3 2023, an improvement from a loss of $10,428 million in Q3 2022[214] - Comprehensive loss for the nine months ended September 30, 2023, was $22,692,000, compared to a comprehensive loss of $13,209,000 for the same period in 2022[110] Assets and Liabilities - Cash and cash equivalents as of September 30, 2023, were $36.82 million, down from $43.30 million at the end of 2022, reflecting a decrease of approximately 15%[104] - Total assets decreased to $317.51 million as of September 30, 2023, from $325.03 million at the end of 2022, a decline of about 2.3%[104] - Total liabilities increased to $54.64 million as of September 30, 2023, compared to $50.54 million at the end of 2022, representing an increase of approximately 8.3%[104] - Blade's accumulated deficit increased to $125.81 million as of September 30, 2023, from $103.68 million at the end of 2022, indicating a rise of approximately 21.3%[104] Stock and Equity - The company had 74,633,754 shares of common stock outstanding as of November 1, 2023, an increase from 71,660,617 shares at the end of 2022[93] - Total stockholders' equity as of September 30, 2023, was $262,877,000, a decrease from $282,705,000 as of September 30, 2022[114] - The total number of common stock shares outstanding as of September 30, 2023, was 74,208,433, an increase from 71,506,665 shares as of September 30, 2022[114] Operational Insights - Blade plans to leverage expected lower operating costs of Electric Vertical Aircraft (EVA) to reduce flight prices and enhance market competitiveness[61] - The company aims to expand its passenger segment into dense urban areas, focusing on markets with existing air transportation infrastructure[60] - Blade's proprietary technology stack is designed to scale operations and improve logistics capabilities, facilitating future growth[52] - The company has experienced significant seasonality, with flight volume peaking in Q2 and Q3 due to summer travel[75] - Blade's asset-light business model allows for a seamless transition to EVA, which is expected to be quieter and emission-free[53] Other Financial Metrics - Blade's interest income for the three months ended September 30, 2023, was $2.15 million, compared to $1.17 million in the same period of 2022, marking an increase of approximately 83.5%[107] - The company reported stock-based compensation of $9,348,000 for the nine months ended September 30, 2023, compared to $5,627,000 for the same period in 2022[118] - The company experienced a foreign currency translation adjustment loss of $1,500,000 for the three months ended September 30, 2023[110] - The company recognized $5,213 of revenue from the contract liability balance for the nine months ended September 30, 2023[157] - The company operates in three key product lines: Jet and Other, MediMobility Organ Transport, and Short Distance[158]

BLADE Investor Presentation August 2023 BLADE FORWARD LOOKING STATEMENTS This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts and may be identified by the use of words such as "will", "anticipate," "believe," "could," "continue," "expect," "estimate," "may," "plan," "outlook," "future" and "project" and other similar e ...

Blade Air Mobility, Inc. (NASDAQ:BLDE) Q2 2023 Earnings Conference Call August 9, 2023 8:00 AM ET Company Participants Ravi Jani – Vice President-Investor Relations Rob Wiesenthal – Founder and Chief Executive Officer Will Heyburn – Chief Financial Officer Conference Call Participants Jason Helfstein – Oppenheimer Hillary Cacanando – Deutsche Bank Bill Peterson – JPMorgan Stephen Ju – Credit Suisse Jon Hickman – Ladenburg Operator Good morning, ladies and gentlemen, and welcome to the Blade Air Mobility Fis ...

Passenger segment Medical segment bl f C Medical Adjusted EBITDA increased by $2.8 million or 138%, for the six months ended June 30, 2023 from $2.1 million in same period of 2022 to $4.9 million in 2023. The increase is attributable to $5.2 million increase in Flight Profit due to higher revenue driven by the addition of new clients, growth within existing clients and organ transplant market growth, partially offset by a $2.4 million increase in fixed costs, primarily staff costs in order to support the hi ...

Financial Data and Key Metrics Changes - Revenue in Q1 2023 increased by 70% to $45.3 million compared to $26.6 million in Q1 2022, while flight profit rose by 145% to $7.2 million from $2.9 million in the same period [24][39] - Adjusted EBITDA was a loss of $7.7 million, roughly flat year-over-year, but improved as a percentage of revenues to negative 17% from negative 29% [62][65] - Operating cash flow was a use of $16.9 million, primarily due to a $9.5 million investment in working capital [63] Business Line Data and Key Metrics Changes - Short Distance revenues increased by 148% to $10.4 million in Q1 2023, driven by the acquisition of Blade Europe and growth in Blade Airport service [15][25] - MediMobility Organ Transport revenue grew by 111% to $26.8 million, with organic growth attributed to new hospital wins and market expansion [38] - Jet and Other revenue declined by 17% to $8.1 million, driven by lower volume and average price per jet charter [19] Market Data and Key Metrics Changes - In the US, the number of Airport Passes sold increased by 118% year-to-date compared to the same period last year, indicating strong customer acquisition [8] - In Canada, revenue increased by 65% year-over-year, reflecting a recovery in demand [35] - European performance was impacted by weather and maintenance delays, but preparations are in place for peak season events [9][10] Company Strategy and Development Direction - The company is focused on optimizing marketing spend and enhancing customer acquisition through targeted campaigns [7] - Strategic bolt-on acquisitions are being evaluated to accelerate profitability while leveraging existing infrastructure and technology [12] - The transition to Electric Vertical Aircraft (EVA) is seen as a long-term growth opportunity, with ongoing efforts to improve operational efficiency [32][67] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving significant improvement in full-year adjusted EBITDA for 2023 compared to 2022 [6] - The company remains optimistic about the recovery in travel demand and the potential for increased bookings in Europe during the summer [57] - Management highlighted the importance of perfusion technology in expanding the addressable market for organ transport [36] Other Important Information - The company maintains a strong balance sheet with zero debt and approximately $179 million in cash and short-term securities [65] - New board members were appointed to enhance strategic oversight and support growth initiatives [31] Q&A Session Summary Question: What drove the increase in average pricing and revenue? - Management indicated that both volume increase and higher pricing contributed to revenue growth, with average pricing reaching $281 per seat [69][70] Question: What is driving the lower volume and pricing in the Jet business? - The decline is attributed to normalization post-Omicron demand, with many customers returning to commercial flights [53][60] Question: How does the company view the impact of perfusion technology on flight margins? - Perfusion technology is expected to increase the number of organs available for transport, positively impacting revenue and flight profit growth [88][90] Question: What are the expectations for flight margin progress in the upcoming quarters? - Flight profit margins are expected to improve to the high-teens in Q2 and further in Q3, which is typically the strongest quarter [111]

See Note 8, "Commitments and Contingencies", for additional information about our capacity purchase agreements. Balance sheet information related to the Company's leases is presented below: | --- | --- | --- | --- | --- | |--------------------------------------------|-------|--------------------|-------|---------------------| | Operating leases: | | March 31, 2023 | | December 31, 2022 | | Operating right-of-use asset | $ | 24,092 | $ | 17,692 | | Operating lease liability, current | | 4,029 | | 3,362 | | O ...

TABLE OF CONTENTS 2 bl f C Table of Contents bl f C NOTE REGARDING FORWARD–LOOKING STATEMENTS This Annual Report on Form 10-K may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified using forward-looking terminology, including the terms "believes", "estimates", "anticipates, "expects", "seeks", "projects", "intends", plans," "may", "will" or "should" or, in each case, their negative or o ...