SURF AIR MOBILITY INC
For the period ended Sep 30, 2024. Filed Nov 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.
Sep 30, 2024 · Filed Nov 14, 2024
SRFM$0.74+5.2%Stored close · as of Nov 10, 2026
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Unaudited Condensed Consolidated Balance Sheets
September 30, 2024 and December 31, 2023
(in thousands, except share and per share data)
| September 30,2024 | December 31,2023 | |
|---|---|---|
| Assets: | ||
| Current assets: | ||
| Cash | $506 | $1,720 |
| Accounts receivable, net | 4,360 | 4,965 |
| Prepaid expenses and other current assets | 9,310 | 11,051 |
| Total current assets | 14,176 | 17,736 |
| Restricted cash | 616 | 711 |
| Property and equipment, net | 44,005 | 45,991 |
| Intangible assets, net | 24,004 | 26,663 |
| Operating lease right-of-use assets | 8,767 | 12,818 |
| Finance lease right-of-use assets | 1,194 | 1,343 |
| Other assets | 5,117 | 5,727 |
| Total assets | $97,879 | $110,989 |
| Liabilities and Shareholders’ Deficit: | ||
| Current liabilities: | ||
| Accounts payable | $26,791 | $18,854 |
| Accrued expenses and other current liabilities | 72,863 | 59,582 |
| Deferred revenue | 14,685 | 19,011 |
| Current maturities of long-term debt | 4,822 | 5,177 |
| Operating lease liabilities, current | 3,707 | 4,104 |
| Finance lease liabilities, current | 259 | 215 |
| SAFE notes at fair value, current | 22 | 25 |
| Convertible notes at fair value, current | — | 7,715 |
| Due to related parties, current | 9,953 | 25,431 |
| Total current liabilities | 133,102 | 140,114 |
| Long-term debt, net of current maturities | 17,707 | 20,617 |
| Convertible notes at fair value, non-current | 8,036 | — |
| Operating lease liabilities, long term | 3,215 | 5,507 |
| Finance lease liabilities, long term | 1,013 | 1,137 |
| Due to related parties, long term | 48,997 | 1,673 |
| Other long-term liabilities | 21,419 | 19,426 |
| Total liabilities | $233,489 | $188,474 |
| Commitments and contingencies (Note 12) | ||
| Shareholders’ deficit: | ||
| Common stock, $0.0001 par value; 800,000,000 shares authorized as of both September 30, 2024 and December 31, 2023; 13,489,712 shares issued and outstanding as of September 30, 2024 and 10,878,633 shares issued and outstanding as of December 31, 2023 | $1 | $1 |
| Additional paid-in capital | 543,097 | 525,049 |
| Accumulated deficit | (678,708) | (602,535) |
| Total shareholders’ deficit | $(135,610) | $(77,485) |
| Total liabilities and shareholders’ deficit | $97,879 | $110,989 |
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