Company: SRFM
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001193125-25-277860
Chunk: 0

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-11-12
Form: 10-Q
Item: Item 1
Chunk 0
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Surf Air Mobility Inc.

Unaudited Condensed Consolidated Balance Sheets

September 30, 2025 and December 31, 2024

(in thousands, except share and per share data)

(Unaudited)

     September 30,2025

     December 31,2024

     Assets:

     Current assets:

     Cash
      
     $
     7,062

     $
     21,107

     Accounts receivable, net

     5,035

     4,257

     Prepaid expenses and other current assets

     9,915

     8,511

     Total current assets

     22,012

     33,875

     Restricted cash

     55

     568

     Property and equipment, net

     43,530

     42,213

     Intangible assets, net

     20,805

     23,118

     Operating lease right-of-use assets

     13,721

     17,046

     Finance lease right-of-use assets

     883

     1,115

     Other assets

     5,780

     6,123

     Total assets
      
     $
     106,786

     $
     124,058

     Liabilities and Shareholders’ Deficit:

     Current liabilities:

     Accounts payable
      
     $
     16,403

     $
     17,976

     Accrued expenses and other current liabilities

     47,544

     45,496

     Deferred revenue

     15,969

     17,393

     Current maturities of long-term debt

     2,660

     2,543

     Operating lease liabilities, current

     3,704

     4,120

     Finance lease liabilities, current

     269

     265

     SAFE notes at fair value, current

     10

     13

     Due to related parties, current

     1,566

     1,804

     Total current liabilities

     88,125

     89,610

     Long-term debt, net of current maturities

     61,140

     59,883

     Convertible notes at fair value, non-current

     6,642

     7,347

     Operating lease liabilities, long term