AI Earnings Predictions for Surf Air Mobility Inc. (SRFM)

EX-99.1

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EX-99.1

EX-99.1

Exhibit 99.1

Surf Air Mobility Reports Third Quarter 2026 Financial Results, Meeting Revenue and Adjusted EBITDA Guidance

Third Quarter Revenue of $36.5 Million, Within Guidance, and an Increase of 25% Compared to the Third Quarter 2025, and the Highest in Company’s History

Third Quarter Adjusted EBITDA Loss of $6.7 Million, Within Guidance, and a 32% Improvement Compared to the Third Quarter 2025, and the Best Adjusted EBITDA in Company’s History

Surf On Demand Business Revenue Grew to a Record $19 Million, an increase of 121% Compared to the Third Quarter 2025

Commercially Launched OperatorOS, With Five Contracts Signed to Date

Company Issues Fourth Quarter 2026 Guidance

LOS ANGELES, CA - November 5, 2026 - Surf Air Mobility Inc. (NYSE: SRFM) ("Surf Air Mobility" or the "Company"), a leading air mobility platform, today reported financial results for the third quarter ended September 30, 2026, and provided a progress update for the Company’s SurfOS software, Surf On Demand, and airline operations businesses.

Deanna White, Chief Executive Officer of Surf Air Mobility, said: "The third quarter was the highest revenue and best Adjusted EBITDA quarter in Surf Air Mobility's history, with revenue and Adjusted EBITDA within guidance. We are now in the Expansion Phase of our Transformation Plan, and we made progress on each of its priorities: commercializing SurfOS, scaling Surf On Demand, and expanding airline profitability. These results reflect our shift from an airline-centric company to a technology-powered air mobility platform."

Q3 2026 Financial Results

Revenue

● Total revenue of $36.5 million, within guidance of $35.5 million to $37.5 million, a 25% year-over-year increase and a 24% increase compared to the second quarter of 2026. This was the highest quarterly revenue in Company history.

● Surf On Demand revenue of $19 million, a 121% year-over-year increase and a 57% increase compared to the second quarter of 2026 reflecting increased demand and increased revenue per departure.

● Airline operations scheduled service revenue of $17.5 million, a 15% year-over-year decrease, primarily reflecting the exit of certain Essential Air Service routes, partially offset by productivity improvements.

Net Loss

Net loss was $20.4 million for the third quarter of 2026, compared to $27.2 million in the prior year period, a 25% improvement. Net loss included investment in R&D for technology initiatives, stock-based compensation, transaction costs and other non-recurring items.

Adjusted EBITDA

● Adjusted EBITDA loss of $6.7 million, within guidance of $7 million to $4 million, a 32% year-over-year improvement and a 36% improvement compared to the second quarter of 2026.

● Results reflect growth in profitable revenue in the Surf On Demand business and expanding positive Adjusted EBITDA margins in the airline operations business.

Q3 2026 Business Highlights

SurfOS Software

● Commercially launched OperatorOS, the Company's software for Part 91 and 135 operators, and signed five OperatorOS contracts to date, including three within the third quarter of 2026 and two after quarter end. OperatorOS will earn a percentage of revenue on each trip managed through the software.

● Received authorization from the FAA for OperatorOS as a system of record for our airline, enabling electronic signatures, records, and manuals.

● Continued growth of the Powered by Surf On Demand program, which uses BrokerOS.

● Deployed initial phase of Enterprise BrokerOS at Wheels Up with a contract worth up to $12 million over a three year term.

● Advanced discussions with an active enterprise pipeline of large operators, brokerages, and aircraft manufacturers that the Company believes is worth tens of millions of dollars in annual revenue.

Surf On Demand

● Achieved highest revenue and highest year-over-year revenue growth in a quarter since inception.

● Accelerated revenue growth every quarter this year, more than doubling during the first nine months of 2026, compared to the same period in 2025.

● Increased departures to a record 1,417, up 86% year-over-year.

● Increased average revenue per departure 17% year-over-year and 29% compared to the second quarter of 2026, reflecting a shift toward larger aircraft and longer trips.

● Improved gross margin more than 4 percentage points year-over-year and more than 10 percentage points compared to the second quarter of 2026.

● Expanded to seven preferred operator partners in total, providing preferential rates and terms and exclusive access to select aircraft.

Airline Operations

● Generated positive Adjusted EBITDA of $1.2 million for the airline, improving in each quarter of 2026.

● Achieved SurfOS-enabled operational efficiencies with:

○ Direct operating cost per block hour decreasing 6%

○ Fuel burn decreasing 9%

○ Pilot cost per block hour decreasing 9%

○ Labor productivity increasing 15%, year-over-year

● Increased Mokulele

EX-99.1

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EX-99.1

EX-99.1

Exhibit 99.1

Surf Air Mobility Reports Second Quarter 2026 Financial Results, Meeting Revenue and Adjusted EBITDA Guidance

Second Quarter Revenue of $29.5 Million, Driven By Over 100% Year-Over-Year Increase In Surf On Demand Private Charter Revenue, At the High End of the Guidance Range of $27 Million to $30 Million

Second Quarter Adjusted EBITDA Loss of $10.5 Million, Within the Guidance Range of $10.5 Million to $8.5 Million

Signed First SurfOS Enterprise Software Contract with Wheels Up and Expanded Partnership with Palantir Technologies

Reduced Existing Convertible Note Principal by 64% and Lowered Monthly Cash Amortization Payments by Up to 50%

Company Reaffirms Full Year 2026 Guidance and Issues Third Quarter 2026 Guidance

LOS ANGELES, CA - August 10, 2026 - Surf Air Mobility Inc. (NYSE: SRFM) ("Surf Air Mobility" or the "Company"), a leading air mobility platform, today reported financial results for the second quarter ended June 30, 2026, and provided a progress update for the Company's airline operations, Surf On Demand private charter, and SurfOS software businesses.

Deanna White, Chief Executive Officer of Surf Air Mobility, said: "The second quarter was strong. We delivered revenue at the high end of our guidance range and Adjusted EBITDA within our range, and we did so during one of the most volatile fuel cost environments the industry has experienced. Over the last year and a half, our Transformation Plan has focused on foundational work: building SurfOS, lowering our cost structure, rationalizing our route network, modernizing our fleet, and restructuring our balance sheet. As we shift our focus to the Expansion Phase of the plan, we believe the Company is now positioned to pursue revenue growth and improved profitability simultaneously."

Exhibit 99.1

Q2 2026 Financial Results

Revenue

● Total revenue of $29.5 million was at the high end of the Company's guidance range of $27 million to $30 million, an 8% year-over-year increase and a 15% increase compared to the first quarter of 2026

● Scheduled service revenue of $17.4 million, a 19% year-over-year decrease reflecting the continued rationalization of the Company's route network

● Surf On Demand private charter revenue of $12.1 million, a 101% increase compared to the same period of the prior year, with departures increasing approximately 67% compared to the second quarter of 2025

Net Loss

Net loss was $28.1 million for the second quarter of 2026 compared to net loss of $28 million in the prior year period. Net loss for both periods included investment in R&D for technology initiatives, stock-based compensation, transaction costs and other non-recurring items.

Adjusted EBITDA

● Adjusted EBITDA loss of $10.5 million, within the Company's guidance range of a $10.5 million to $8.5 million

● Results reflect elevated fuel costs and weather-related cancellations in Hawaii, offset by cost controls across airline operations and the more cost-efficient development of SurfOS

Q2 2026 Business Highlights

SurfOS Software

● Announced Wheels Up as the launch customer for Enterprise BrokerOS, Surf Air Mobility’s first SurfOS enterprise software contract, worth up to $12 million over the initial three-year contract term.

● Expanded the Company's partnership with Palantir Technologies Inc., increasing engineering resources and adding business development and commercial go-to-market resources with experience in aviation, transportation, and logistics. These resources participate directly in the SurfOS enterprise sales process.

Exhibit 99.1

● Deployed new SurfOS features during the quarter, including crew reserve optimization, fuel tracking, AI-enabled charter price recommendations, and AI-enabled charter supply sourcing.

● Showcased BrokerOS at Palantir's AIPCon 10 in June, highlighting the intelligence features and AIP-powered tools embedded within the software.

● Finalized plans to commercially launch OperatorOS and OwnerOS in the fourth quarter of 2026.

Airline Operations

● Ended the quarter at a controllable completion factor of 98%, on-time arrivals of 88%, and on-time departures of 83%.

● Mokulele Airlines revenue increased approximately 7% year-over-year and approximately 15% compared to the first quarter of 2026, with more than 10,000 departures in the quarter, a 3% year-over-year increase.

● Took delivery of two new Cessna Caravan aircraft, positioning the Company's newest aircraft on high value routes.

● Productivity gains from OperatorOS offset much of the revenue impact of route rationalization and the cost impact of increased fuel prices. The fuel optimization module now reconciles fuel records against vendor invoicing and tracks actual burn against plan, while the crew reserve module calculates demand-adjusted reserve requirements by base, and the Company expects these improvements to persist into the future.

● Completed implementation of the Company's Safety Management

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