Company: SRFM
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0000950170-25-043326
Chunk: 119

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1B
Chunk 119
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 Departures(5)

    69,000

    31,476

    37,524

    119
    %

    (1)Scheduled Flight Hours represent actual flight time from takeoff through landing that were flown in the period and excludes departures for maintenance or repositioning events. This metric only measures flight hours for flights that generated scheduled revenue and does not include flight hours for flights that generated on-demand revenue.

    (2)On-Demand Flights represent the number of flights that generate on-demand revenue taken by customers on the Company's aircraft or third-party operated aircraft during the period.

    (3)Scheduled Passengers represent the number of passengers flown during the period for scheduled service.

    (4)Headcount represents all full-time and part-time employees at the end of the period.

    (5)Scheduled Departures represent the number of takeoffs in the period, agnostic of operator and excludes departures for maintenance or repositioning events. This metric only measures takeoffs that generated scheduled revenue and does not include takeoffs that generated on-demand revenue.

Results of Operations

Results of the Company’s Operations for the Years Ended December 31, 2024 and 2023

The following table sets forth our consolidated statements of operations data for the years ended December 31, 2024 and 2023 (in thousands, except percentages): 

    Year Ended December 31,

    Change

    2024

    2023

    $

    %

    Revenue
     
    $
    119,425

    $
    60,505

    $
    58,920

    97
    %

    Operating expenses:

    Cost of revenue, exclusive of depreciation and amortization

    109,934

    61,918

    48,016

    78
    %

    Technology and development

    24,041

    20,850

    3,191

    15
    %

    Sales and marketing

    7,514

    10,028

    (2,514
    )

    (25
    )%

    General and administrative

    29,851

    100,669

    (70,818
    )

    (70
    )%

    Depreciation and amortization

    8,341

    3,762

    4,579

    122
    %

    Impairment of goodwill