Company: SRFM
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0000950170-25-043326
Chunk: 143

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1B
Chunk 143
---
     
    $
    124,058

    $
    110,989

The accompanying notes are an integral part of these consolidated financial statements.

72

Surf Air Mobility Inc.

Consolidated Statements of Operations

Years Ended December 31, 2024 and 2023

(in thousands, except share and per share data)

    Year EndedDecember 31,

    2024

    2023

    Revenue
     
    $
    119,425

    $
    60,505

    Operating expenses:

    Cost of revenue, exclusive of depreciation and amortization

    109,934

    61,918

    Technology and development

    24,041

    20,850

    Sales and marketing

    7,514

    10,028

    General and administrative

    29,851

    100,669

    Depreciation and amortization

    8,341

    3,762

    Impairment of goodwill

    —

    60,045

    Total operating expenses

    179,681

    257,272

    Operating loss
     
    $
    (60,256
    )
     
    $
    (196,767
    )

    Other income (expense):

    Changes in fair value of financial instruments carried at fair value, net
     
    $
    (11,732
    )
     
    $
    (50,230
    )

    Interest expense

    (8,617
    )

    (2,969
    )

    Gain (loss) on extinguishment of debt

    5,398

    (326
    )

    Other income (expense)

    12

    (3,708
    )

    Total other income (expense), net
     
    $
    (14,939
    )
     
    $
    (57,233
    )

    Loss before income taxes

    (75,195
    )

    (254,000
    )

    Income tax benefit

    287

    3,304

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

    Net loss per share applicable to common shareholders, basic and diluted
     
    $
    (5.80
    )
     
    $
    (44.46
    )

    Weighted