Company: SRFM
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0000950170-25-043326
Chunk: 288

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-03-21
Form: 10-K
Item: Item 8
Chunk 288
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) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these consolidated financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

Los Angeles, California

March 21, 2025

We have served as the Company’s auditor since 2021.

71

Surf Air Mobility Inc.

Consolidated Balance Sheets

December 31, 2024 and December 31, 2023

(in thousands, except share and per share data)

    December 31,2024

    December 31,2023

    Assets:

    Current assets:

    Cash
     
    $
    21,107

    $
    1,720

    Accounts receivable, net

    4,257

    4,965

    Prepaid expenses and other current assets

    8,511

    11,051

    Total current assets

    33,875

    17,736

    Restricted cash

    568

    711

    Property and equipment, net

    42,213

    45,991

    Intangible assets, net

    23,118

    26,663

    Operating lease right-of-use assets

    17,046

    12,818