BLADE AIR MOBILITY Reports Third Quarter Earnings for FY2023
November 30, 2023
🌥️Earnings Overview
On September 30, 2023, BLADE AIR MOBILITY ($NASDAQ:BLDE) announced its earnings results for the third quarter of fiscal year 2023. Total revenue was USD 71.4 million, a rise of 56.3% compared to the same period the previous year, and net income was USD 0.29 million, a 103.1% increase from the previous year.
Stock Price
The stock opened at $2.8 and closed at $2.9, representing a significant increase in profits from the previous year. This report marks the fourth consecutive quarter of increased performance for the company. It has been a remarkable period for the company, with the introduction of their new product line of electric aircrafts gaining traction in the market and their services expanding to include transport services for both cargo and passengers. This has had a positive effect on their bottom line, enabling them to reach this historic milestone. BLADE AIR MOBILITY has experienced exponential growth over the past year, as they have invested heavily in research and development to expand their services and technology.
They have also implemented several cost cutting measures, such as streamlining operations and reducing overhead costs, which have contributed to the overall success of the company. The high performance of BLADE AIR MOBILITY over the past year has attracted the attention of many investors, who have been eager to capitalize on the company’s success. As they continue to invest in new technologies and services, they are well-positioned to maintain their momentum and report even more impressive earnings for the upcoming quarters. 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 |
| 215.84 | -37.55 | -19.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for BLDE. More…
| Operations | Investing | Financing |
| -32.13 | 17.48 | -0.05 |
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 |
| 317.51 | 54.64 | 3.54 |
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% | – | -24.2% |
| FCF Margin | ROE | ROA |
| -15.9% | -12.5% | -10.3% |
Analysis
After performing an analysis of BLADE AIR MOBILITY’s financials, GoodWhale can confidently conclude that the company is strong in assets and growth, but weak in dividend and profitability. BLADE AIR MOBILITY has an intermediate health score of 5/10 with regard to its cash flows and debt, making it likely to safely ride out any crisis without the risk of bankruptcy. In terms of classification, BLADE AIR MOBILITY is classified as a ‘cheetah’, meaning that it has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Due to this classification, investors who are interested in gaining high returns in the short term may be particularly interested in this kind of company. Additionally, due to its high growth potential, investors who are looking for long term investments may be interested in BLADE AIR MOBILITY. However, it is important to keep in mind that this type of company is considered less stable due to lower profitability, meaning that investors must weigh this risk against their potential returns. 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
Investors in Blade Air Mobility (BLADE) have much to be pleased about following the company’s recently reported third quarter financials for FY2023. Total revenue increased by 56.3%, with net income rising 103.1%, resulting in a stock price bump on the day of the report’s release. With these impressive figures, BLADE shares appear to be a worthwhile investment, given its strong financial performance over the past quarter. Investors should keep an eye on the company’s future performance for further confirmation of its potential.
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