SURF AIR MOBILITY INC
For the period ended Jun 30, 2024. Filed Aug 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 14, 2024
SRFM$0.74+5.2%Stored close · as of Nov 10, 2026
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Unaudited Condensed Consolidated Balance Sheets
June 30, 2024 and December 31, 2023
(in thousands, except share and per share data)
| June 30,2024 | December 31,2023 | |
|---|---|---|
| Assets: | ||
| Current assets: | ||
| Cash | $1,460 | $1,720 |
| Accounts receivable, net | 4,487 | 4,965 |
| Prepaid expenses and other current assets | 9,928 | 11,051 |
| Total current assets | 15,875 | 17,736 |
| Restricted cash | 614 | 711 |
| Property and equipment, net | 47,041 | 45,991 |
| Intangible assets, net | 24,890 | 26,663 |
| Operating lease right-of-use assets | 10,523 | 12,818 |
| Finance lease right-of-use assets | 1,273 | 1,343 |
| Other assets | 5,331 | 5,727 |
| Total assets | $105,547 | $110,989 |
| Liabilities and Shareholders’ Deficit: | ||
| Current liabilities: | ||
| Accounts payable | $25,983 | $18,854 |
| Accrued expenses and other current liabilities | 78,897 | 59,582 |
| Deferred revenue | 17,072 | 19,011 |
| Current maturities of long-term debt | 4,922 | 5,177 |
| Operating lease liabilities, current | 4,322 | 4,104 |
| Finance lease liabilities, current | 256 | 215 |
| SAFE notes at fair value, current | 6 | 25 |
| Convertible notes at fair value, current | 8,014 | 7,715 |
| Due to related parties, current | 47,371 | 25,431 |
| Total current liabilities | 186,843 | 140,114 |
| Long-term debt, net of current maturities | 18,346 | 20,617 |
| Operating lease liabilities, long term | 3,894 | 5,507 |
| Finance lease liabilities, long term | 1,078 | 1,137 |
| Due to related parties, long term | 987 | 1,673 |
| Other long-term liabilities | 22,489 | 19,426 |
| Total liabilities | $233,637 | $188,474 |
| Commitments and contingencies (Note 12) | ||
| Shareholders’ deficit: | ||
| Common shares, $0.0001 par value; 800,000,000 shares authorized as of both June 30, 2024 and December 31, 2023; 87,029,425 shares issued and outstanding as of June 30, 2024 and 76,150,437 shares issued and outstanding as of December 31, 2023 | $8 | $8 |
| Additional paid-in capital | 538,385 | 525,042 |
| Accumulated deficit | (666,483) | (602,535) |
| Total shareholders’ deficit | $(128,090) | $(77,485) |
| Total liabilities and shareholders’ deficit | $105,547 | $110,989 |
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