Company: SRFM
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0000950170-25-043326
Chunk: 209

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1B
Chunk 209
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        $
        10,144

        $
        1,656

        Right-of-use assets obtained in exchange for new finance lease liabilities
         
        $
        95

        $
        1,143

        Purchases of property and equipment included in accounts payable
         
        $
        326

        $
        382

        Prepaid expense and other current assets accrued in other current liabilities
         
        $
        —

        $
        1,989

Note 23. Net Loss per Share Applicable to Common Shareholders, Basic and DilutedThe Company calculates basic and diluted net loss per share attributable to common shareholders using the two-class method required for companies with participating securities. The Company considers preferred stock to be participating securities as the holders are entitled to receive dividends on a pari passu basis in the event that a dividend is paid on common shares. As outlined in “Internal Reorganization” and “Reverse Stock Split” in Note 1, Description of Business, the effects of conversions at a ratio of 22.4 Surf Air shares to 1 share of the Company’s common stock, and the subsequent seven-for-one reverse stock split for all shares of the Company’s common stock then issued and outstanding, have been applied to outstanding shares of common stock and rights to receive shares of common stock for all periods presented in calculating earnings per share and for presentation within the Statement of Changes in Redeemable Convertible Preferred Shares and Shareholders’ Equity/ (Deficit).The following table sets forth the computation of net loss per share applicable to common shareholders (in thousands, except share data): 

        Year Ended December 31,

        2024

        2023

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

        Weighted-average number of common shares used in net loss per share applicable to common shareholders, basic and diluted

        12,910,341

        5,638,128

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

116

The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share for the periods indicated because including them would have had an anti-dilutive effect: 

        Year Ended December 31,