SRFM · Surf Air Mobility Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $6.06M | - | $11.20M | $12.63M | $10.89M | - | $415.0K | $19.60M | $24.61M | - |
| Total Operating Expenses | $38.97M | - | $45.67M | $43.36M | $42.07M | - | $37.02M | $57.62M | $65.09M | - |
| D&A | $2.55M | - | $2.42M | $2.44M | $2.15M | - | $2.12M | $2.06M | $1.98M | - |
| Operating Income | ($13.36M) | - | ($16.50M) | ($15.93M) | ($18.57M) | - | ($8.64M) | ($25.26M) | ($34.47M) | - |
| Interest Expense | $1.22M | - | $3.25M | $1.91M | $1.67M | - | $2.09M | $1.91M | $1.67M | - |
| Income Tax | ($39.0K) | - | ($62.0K) | ($64.0K) | ($53.0K) | - | ($14.0K) | $0 | ($46.0K) | - |
| Net Income | ($20.26M) | - | ($27.21M) | ($28.00M) | ($18.47M) | - | ($12.22M) | ($26.98M) | ($36.97M) | - |
| EPS - Basic | ($0.26) | - | ($0.64) | ($1.34) | ($1.09) | - | ($0.94) | ($2.31) | ($3.36) | - |
| EPS - Diluted | ($0.26) | - | ($0.64) | ($1.34) | ($1.09) | - | ($0.94) | ($2.31) | ($3.36) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $4.16M | $12.67M | $7.06M | $22.57M | $6.63M | $21.11M | $506.0K | $1.46M | $1.28M | $1.72M |
| Accounts Receivable | $3.71M | $3.93M | $5.04M | $5.31M | $4.73M | $4.26M | $4.36M | $4.49M | $4.71M | $4.96M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $21.14M | $18.44M | $16.40M | $19.47M | $17.84M | $17.98M | $26.79M | $25.98M | $20.57M | $18.85M |
| Current Assets | $21.06M | $30.92M | $22.01M | $38.72M | $19.98M | $33.88M | $14.18M | $15.88M | $16.71M | $17.74M |
| Total Assets | $120.83M | $131.68M | $106.79M | $128.98M | $105.27M | $124.06M | $97.88M | $105.55M | $108.79M | $110.99M |
| Current Liabilities | $132.93M | $133.61M | $88.13M | $97.08M | $92.07M | $89.61M | $133.10M | $186.84M | $165.47M | $140.11M |
| Long-term Debt | $13.76M | $14.39M | $61.14M | $60.70M | $60.34M | $59.88M | $17.71M | $18.35M | $19.98M | $20.62M |
| Total Liabilities | $177.42M | $186.54M | $199.34M | $244.47M | $240.91M | $244.06M | $233.49M | $233.64M | $215.09M | $188.47M |
| Stockholders' Equity | ($63.20M) | ($54.86M) | ($92.56M) | ($115.48M) | ($135.64M) | ($120.00M) | ($135.61M) | ($128.09M) | ($106.30M) | ($77.48M) |
| Retained Earnings | ($808.26M) | ($788.00M) | ($751.12M) | ($723.91M) | ($695.91M) | ($677.44M) | ($678.71M) | ($666.48M) | ($639.50M) | ($602.53M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($12.25M) | - | - | - | ($15.80M) | - | - | - | ($12.81M) | - |
| Investing Cash Flow | ($3.54M) | - | - | - | $782.0K | - | - | - | ($743.0K) | - |
| Financing Cash Flow | $7.35M | - | - | - | $542.0K | - | - | - | $13.11M | - |
| CapEx | $2.76M | - | - | - | $1.27M | - | - | - | $715.0K | - |
| Free Cash Flow | ($15.02M) | - | - | - | ($17.07M) | - | - | - | ($13.53M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | - | - | - | - | - | - | - | - | - | - |
| EBITDA margin | - | - | - | - | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | - | - | - | - | - |
| Free cash flow margin | - | - | - | - | - | - | - | - | - | - |
| FCF / Net income | 0.74 | - | - | - | 0.92 | - | - | - | 0.37 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - | - | - | - | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -16.8% | - | -25.5% | -21.7% | -17.5% | - | -12.5% | -25.6% | -34.0% | - |
| Return on equity | 32.1% | - | 29.4% | 24.2% | 13.6% | - | 9.0% | 21.1% | 34.8% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 0.16 | 0.23 | 0.25 | 0.40 | 0.22 | 0.38 | 0.11 | 0.08 | 0.10 | 0.13 |
| Quick ratio | 0.16 | 0.23 | 0.25 | 0.40 | 0.22 | 0.38 | 0.11 | 0.08 | 0.10 | 0.13 |
| Cash ratio | 0.03 | 0.09 | 0.08 | 0.23 | 0.07 | 0.24 | 0.00 | 0.01 | 0.01 | 0.01 |
| Leverage | ||||||||||
| Debt / Equity | -0.22 | -0.26 | -0.66 | -0.53 | -0.44 | -0.50 | -0.13 | -0.14 | -0.19 | -0.27 |
| Debt / Assets | 0.11 | 0.11 | 0.57 | 0.47 | 0.57 | 0.48 | 0.18 | 0.17 | 0.18 | 0.19 |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -10.9x | - | -5.1x | -8.3x | -11.1x | - | -4.1x | -13.2x | -20.6x | - |
| Equity multiplier | -1.91 | -2.40 | -1.15 | -1.12 | -0.78 | -1.03 | -0.72 | -0.82 | -1.02 | -1.43 |
| Liabilities / Assets | 1.47 | 1.42 | 1.87 | 1.90 | 2.29 | 1.97 | 2.39 | 2.21 | 1.98 | 1.70 |
| Efficiency | ||||||||||
| Asset turnover | - | - | - | - | - | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 28.1% | - | -91.0% | 36.9% | 46.1% | - | 22.2% | -92.0% | - | - |
| Net income growth (YoY) | -9.7% | - | -122.6% | -3.8% | 50.0% | - | 83.6% | 39.4% | - | - |
| EPS growth (YoY) | 76.1% | - | 31.9% | 42.0% | 67.6% | - | 30.9% | -65.0% | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 12.1% | - | - | - | -26.2% | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 53.4% | 54.3% | 31.7% | 9.8% | -27.6% | -54.9% | - | 27.6% | - | - |
Peer comparison
Same SIC group: Air Transportation, Nonscheduled
Comparing SURF AIR MOBILITY INC. against the 5 most active filers in the same SIC group.