Blade Air Mobility Inc. (NASDAQ:BLDE) shares are trading higher on Monday after the company reported better-than-expected first-quarter 2025 results.
Revenue grew 5.4% year-over-year (Y/Y) to $54.3 million, beating the consensus of $49.43 million.
Revenue growth was driven by growth in the Passenger segment. Excluding Canada, which exited in August 2024, revenue increased 10.9% Y/Y.
Medical revenue declined 0.2% Y/Y to $35.9 million. Short Distance revenue fell 5.4% Y/Y to $9.3 million, but excluding Canada, it grew 28.1% Y/Y.
Jet and Other revenue surged 59.9% to $9.1 million on increased flight volumes and revenue per flight.
Flight Profit rose 18.1% Y/Y to $12.0 million, driven by growth in Passenger segments. Flight Margin improved to 22.1% from 19.7% in the quarter.
Adjusted EBITDA improved by $2.3 million Y/Y to $(1.2) million, driven by improvements in the Passenger segment.
Quarterly net loss improved by $0.7 million Y/Y to $(3.5) million, mainly due to a $2.3 million improvement in operating losses.
EPS loss of 4 cents exceeded the street view of loss of 11 cents.
Operating Cash Flow …