Company: SRFM
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0000950170-25-070437
Chunk: 0

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 1
Chunk 0
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Surf Air Mobility Inc.

Unaudited Condensed Consolidated Balance Sheets

March 31, 2025 and December 31, 2024

(in thousands, except share and per share data)

(Unaudited)

     March 31,2025

     December 31,2024

     Assets:

     Current assets:

     Cash
      
     $
     6,625

     $
     21,107

     Accounts receivable, net

     4,729

     4,257

     Prepaid expenses and other current assets

     8,625

     8,511

     Total current assets

     19,979

     33,875

     Restricted cash

     570

     568

     Property and equipment, net

     39,669

     42,213

     Intangible assets, net

     22,281

     23,118

     Operating lease right-of-use assets

     15,631

     17,046

     Finance lease right-of-use assets

     1,036

     1,115

     Other assets

     6,107

     6,123

     Total assets
      
     $
     105,273

     $
     124,058

     Liabilities and Shareholders’ Deficit:

     Current liabilities:

     Accounts payable
      
     $
     17,845

     $
     17,976

     Accrued expenses and other current liabilities

     48,324

     45,496

     Deferred revenue

     16,603

     17,393

     Current maturities of long-term debt

     2,585

     2,543

     Operating lease liabilities, current

     3,896

     4,120

     Finance lease liabilities, current

     272

     265

     SAFE notes at fair value, current

     6

     13

     Due to related parties, current

     2,540

     1,804

     Total current liabilities

     92,071

     89,610

     Long-term debt, net of current maturities

     60,345

     59,883

     Convertible notes at fair value, non-current

     6,279

     7,347

     Operating lease liabilities, long