Company: SRFM
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0000950170-25-043326
Chunk: 290

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-03-21
Form: 10-K
Item: Item 8
Chunk 290
---
,933,692 shares issued and outstanding as of December 31, 2024 and 10,878,633 shares issued and outstanding as of December 31, 2023

    2

    1

    Additional paid-in capital

    557,444

    525,049

    Accumulated deficit

    (677,443
    )

    (602,535
    )

    Total shareholders’ deficit
     
    $
    (119,997
    )
     
    $
    (77,485
    )

    Total liabilities and shareholders’ deficit
     
    $
    124,058

    $
    110,989

The accompanying notes are an integral part of these consolidated financial statements.

72

Surf Air Mobility Inc.

Consolidated Statements of Operations

Years Ended December 31, 2024 and 2023

(in thousands, except share and per share data)

    Year EndedDecember 31,

    2024

    2023

    Revenue
     
    $
    119,425

    $
    60,505

    Operating expenses:

    Cost of revenue, exclusive of depreciation and amortization

    109,934

    61,918

    Technology and development

    24,041

    20,850

    Sales and marketing

    7,514

    10,028

    General and administrative

    29,851

    100,669

    Depreciation and amortization

    8,341

    3,762

    Impairment of goodwill

    —

    60,045

    Total operating expenses

    179,681

    257,272

    Operating loss
     
    $
    (60,256
    )
     
    $
    (196,767
    )

    Other income (expense):

    Changes in fair value of financial instruments carried at fair value, net
     
    $
    (11,732
    )
     
    $
    (50,230
    )

    Interest expense

    (8,617
    )

    (2,969
    )

    Gain (loss) on extinguishment of debt

    5,398

    (326
    )

    Other income (expense)

    12

    (3,708
    )

    Total other income (expense), net
     
    $