BLADE AIR MOBILITY Reports Impressive Q2 Earnings for FY2023
August 14, 2023
☀️Earnings Overview
On June 30th, 2023, BLADE AIR MOBILITY ($NASDAQ:BLDE) announced their Q2 FY2023 earnings results. With a total revenue of USD 61.0 million, they experienced an increase of 71.2% compared to the same quarter in the previous fiscal year. Net income for Q2 was USD -12.2 million, compared to a net income of 8.4 million during the same period in the prior year.
Share Price
On Wednesday, BLADE AIR MOBILITY reported its earnings for the second quarter of FY2023, and the results were nothing short of impressive. Despite some slight turbulence in the market, the company’s stock opened at $4.1 and closed at $3.8, down by 4.5% from the prior closing price of 4.0. This means that the company has seen year-over-year revenue growth for the second quarter in a row. This is a testament to the company’s commitment to providing innovative services to its customers.
This increase was due to increased customer demand and improved cost efficiencies across the organization. The company’s financials are healthy and show that the organization is well-positioned to capitalize on potential opportunities in the market and continue to grow in the coming years. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for BLDE. More…
| Total Revenues | Net Income | Net Margin |
| 190.12 | -47.08 | -24.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for BLDE. More…
| Operations | Investing | Financing |
| -40.51 | -108.23 | -0.2 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for BLDE. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 320.18 | 59.42 | 3.56 |
Key Ratios Snapshot
Some of the financial key ratios for BLDE are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 125.4% | – | -29.0% |
| FCF Margin | ROE | ROA |
| -22.1% | -13.0% | -10.8% |
Analysis
At GoodWhale, we have conducted an analysis of BLADE AIR MOBILITY’s fundamentals for investors interested in the company. We have identified two risk warnings in the cashflow statement and financial journal. These warnings provide helpful insight into how investors should investigate and assess the company before investing. To be able to view these warnings, users need to be registered on our platform. More…
Peers
The competitive landscape in the commercial aviation industry is heating up, with a number of new entrants looking to grab a piece of the pie. One of the most aggressive players is Blade Air Mobility Inc, which is taking on established players such as Sun Country Airlines Holdings Inc, VietJet Aviation JSC, and Norwegian Air Shuttle ASA.
– Sun Country Airlines Holdings Inc ($NASDAQ:SNCY)
Sun Country Airlines Holdings Inc is a holding company for Sun Country Airlines, Inc., a Minnesota corporation. As of 2022, Sun Country Airlines operated scheduled passenger service on approximately 40 routes to destinations in the United States, Mexico, and the Caribbean. The Company’s average aircraft age is approximately 9.5 years old. The Company’s fleet consists of Boeing 737-700, 737-800, and 757-200 aircraft.
– VietJet Aviation JSC ($HOSE:VJC)
Norwegian Air Shuttle ASA is a Norwegian low-cost airline. The company is the third largest airline in Scandinavia. It offers a high quality, low-cost product to its passengers. The company has a strong financial position with a market cap of 6.89B and a ROE of 22.92%. Norwegian Air Shuttle ASA is a well-run company that is committed to providing its passengers with a safe, reliable, and comfortable travel experience.
Summary
BLADE AIR MOBILITY reported a significant increase in total revenue for the second quarter of FY2023, with total revenue of USD 61.0 million, up by 71.2% year-over-year.
However, the company reported a net income loss of USD 12.2 million, compared to a net income of 8.4 million in the same quarter in the prior year. On the day of the announcement, the stock price moved down. For investors, the results are mixed, indicating that BLADE AIR MOBILITY may have potential but there is also some risk involved. Investors should conduct their own research and consider their own risk appetite before deciding to invest in this company.
