Company: SRFM
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0000950170-25-107462
Chunk: 0

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-08-12
Form: 10-Q
Item: Item 1
Chunk 0
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Surf Air Mobility Inc.

Unaudited Condensed Consolidated Balance Sheets

June 30, 2025 and December 31, 2024

(in thousands, except share and per share data)

(Unaudited)

     June 30,2025

     December 31,2024

     Assets:

     Current assets:

     Cash
      
     $
     22,571

     $
     21,107

     Accounts receivable, net

     5,308

     4,257

     Prepaid expenses and other current assets

     10,836

     8,511

     Total current assets

     38,715

     33,875

     Restricted cash

     4,978

     568

     Property and equipment, net

     42,003

     42,213

     Intangible assets, net

     21,543

     23,118

     Operating lease right-of-use assets

     14,983

     17,046

     Finance lease right-of-use assets

     957

     1,115

     Other assets

     5,804

     6,123

     Total assets
      
     $
     128,983

     $
     124,058

     Liabilities and Shareholders’ Deficit:

     Current liabilities:

     Accounts payable
      
     $
     19,466

     $
     17,976

     Accrued expenses and other current liabilities

     49,590

     45,496

     Deferred revenue

     17,853

     17,393

     Current maturities of long-term debt

     2,610

     2,543

     Operating lease liabilities, current

     3,809

     4,120

     Finance lease liabilities, current

     263

     265

     SAFE notes at fair value, current

     9

     13

     Due to related parties, current

     3,476

     1,804

     Total current liabilities

     97,076

     89,610

     Long-term debt, net of current maturities

     60,695

     59,883

     Convertible notes at fair value, non-current

     5,879

     7,347

     Operating lease liabilities, long