Company: SRFM
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0000950170-25-043326
Chunk: 265

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-03-21
Form: 10-K
Item: Item 7
Chunk 265
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 (2,969
    )

    (5,648
    )

    (190
    )%

    Gain (loss) on extinguishment of debt

    5,398

    (326
    )

    5,724

    (1,756
    )%

    Other income (expense)

    12

    (3,708
    )

    3,720

    (100
    )%

    Total other income (expense), net

    (14,939
    )

    (57,233
    )

    42,294

    (74
    )%

    Loss before income taxes

    (75,195
    )

    (254,000
    )

    178,805

    (70
    )%

    Income tax benefit

    287

    3,304

    (3,017
    )

    (91
    )%

    Net loss
     
    $
    (74,908
    )
     
    $
    (250,696
    )
     
    $
    175,788

    (70
    )%

58

Revenue

Revenue increased by $58.9 million, 97%, for the year ended December 31, 2024, compared to the year ended December 31, 2023. The increase in revenue was attributable to the following changes in on-demand and scheduled revenues (in thousands, except percentages):

    Year Ended December 31,

    Change

    2024

    2023

    $

    %

    Scheduled
     
    $
    90,735

    $
    39,397

    $
    51,338

    130
    %

    On-Demand

    28,690

    21,108

    7,582

    36
    %

    Total revenue
     
    $
    119,425

    $
    60,505

    $
    58,920

    97
    %

Scheduled revenue increased by $51.3 million, or 130%, for the year ended December 31, 2024, compared to the year ended December 31, 2023. Absent the impact of the Southern Acquisition, the total scheduled revenue decreased by $0.6 million, or -17%, which was primarily attributable to a decline in our membership subscription base.

The impact of the Southern Acquisition contributed an