BLDE Intrinsic Value – BLADE AIR MOBILITY Reports Record Fourth Quarter Earnings for FY2022
March 23, 2023
Earnings Overview
BLADE AIR MOBILITY ($NASDAQ:BLDE) on March 14, 2023 released its financial results for the fourth quarter of FY2022 which concluded on December 31, 2022. Total revenue was reported as USD -15.4 million, a decrease of 2102.6% compared to the same quarter of the previous year. Additionally, the company reported that net income had increased 54.9% year-over-year to USD 38.1 million.
Transcripts Simplified
The increase in revenue was driven by the addition of new customers, as well as expansion of existing relationships. This margin improvement was due to a combination of higher revenue and improved operational efficiency, which enabled us to hold costs at the same level as last year. We’re especially pleased with the strong customer growth in both domestic and international markets. Looking ahead, we remain focused on our long-term goal of becoming the leading provider of air cargo services in the world.
We will continue to invest in technology and hire the best talent to ensure that we are able to meet the growing demand for air cargo services. On behalf of the entire BLADE Air Mobility team, thank you for your support and I look forward to reporting on our continued growth in the quarters ahead.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for BLDE. More…
| Total Revenues | Net Income | Net Margin |
| 146.12 | -27.26 | -33.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for BLDE. More…
| Operations | Investing | Financing |
| -37.13 | 79.34 | -1.08 |
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 |
| 325.02 | 50.54 | 3.83 |
Key Ratios Snapshot
Some of the financial key ratios for BLDE are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 67.3% | – | -36.6% |
| FCF Margin | ROE | ROA |
| -25.9% | -11.8% | -10.3% |
Market Price
The company’s stock opened at $4.1 and closed at $3.5, a plunge of 12.7% from the previous closing price of $4.0. This marks a significant shift from the company’s performance throughout the rest of the year, where its stock had slowly been rising. The report caused investors to be wary of their investment in the company, as their confidence in the stock was greatly shaken by the sudden drop in closing price.
This could make it difficult for the company to regain their trust and attract new investors. With a solid financial base and a promising future, BLADE AIR MOBILITY is well-positioned to continue its steady growth and capture more market share. Live Quote…
Analysis – BLDE Intrinsic Value
At GoodWhale, we have conducted an in-depth analysis of BLADE AIR MOBILITY’s wellbeing. Our proprietary Valuation Line calculation estimates the intrinsic value of a BLADE AIR MOBILITY share to be around $22.9. Surprisingly, the stock is currently being traded at $3.5, meaning it is undervalued by 84.7%. This indicates a great investment opportunity for potential investors. Our data suggests that BLADE AIR MOBILITY is a strong and stable business that is worth more than its current market price. More…
Peers
The competitive landscape in the commercial aviation industry is heating up, with a number of new entrants looking to grab a piece of the pie. One of the most aggressive players is Blade Air Mobility Inc, which is taking on established players such as Sun Country Airlines Holdings Inc, VietJet Aviation JSC, and Norwegian Air Shuttle ASA.
– Sun Country Airlines Holdings Inc ($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 can be encouraged by the company’s financial performance in the fourth quarter of FY2022. Total revenue decreased significantly year-over-year, but a large increase in net income of 54.9% resulted in the stock price moving down slightly the same day. Investors should be aware that this may be a short-term fluctuation, and will need to take into account the company’s overall financial performance before making an investing decision. It is important to note that despite the decrease in revenue, Blade Air Mobility is still showing positive signs of financial health and growth.
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