SURF AIR MOBILITY INC.
For the period ended Sep 30, 2025. Filed Nov 12, 2025.
View on SEC.govAbout this filing
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, 2025 · Filed Nov 12, 2025
SRFM$0.74+5.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Unaudited Condensed Consolidated Statement of Changes in Shareholders’ Deficit
Three and Nine Months Ended September 30, 2025 and 2024
(in thousands, except share data)
| Stockholders’ Equity (Deficit) | ||||||
|---|---|---|---|---|---|---|
| Common Stock | ||||||
| Number ofShares · Amount · Additional Paid-In Capital · AccumulatedDeficit · Total Shareholders' Deficit | ||||||
| Balance at June 30, 2025 | 36,561,659 | $4 | $608,420 | $(723,907) | $(115,483) | |
| Issuance of common stock related to restricted shares | 154,730 | — | — | — | — | |
| Issuance of common stock related to performance-based restricted shares | 2,500 | — | — | — | — | |
| Issuance of common stock related to stock option exercises | 49,570 | — | 255 | 255 | ||
| Issuance of common stock related to warrant exercises | 265,725 | — | 830 | 830 | ||
| Issuance of common stock under Share Purchase Agreement | 1,942,349 | — | 8,214 | — | 8,214 | |
| Issuance of common stock in settlement of vendor payables | 199,907 | — | 700 | — | 700 | |
| Issuance of common stock under software license agreement | 603,238 | — | 2,690 | — | 2,690 | |
| Issuance of common stock related to convertible note conversions | 7,178,411 | 1 | 35,181 | 35,182 | ||
| Stock-based compensation expense | — | — | 2,268 | — | 2,268 | |
| Net loss | — | — | — | (27,213) | (27,213) | |
| Balance at September 30, 2025 | 46,958,089 | $5 | $658,558 | $(751,120) | $(92,557) | |
| Stockholders’ Equity (Deficit) | |||||
|---|---|---|---|---|---|
| Common Stock | |||||
| Number ofShares | Amount | Additional Paid-In Capital | AccumulatedDeficit | Total Shareholders' Deficit | |
| Balance at June 30, 2024 | 12,432,775 | $1 | $538,392 | $(666,483) | $(128,090) |
| Issuance of common stock related to restricted shares | 154,452 | — | — | — | — |
| Issuance of common stock under Share Purchase Agreement | 1,353,721 | — | 2,870 | — | 2,870 |
| Shares received as consideration for Mandatory Convertible Security | (900,000) | — | (1,796) | — | (1,796) |
| Conversion of Mandatory Convertible Security to common shares | 448,764 | — | 910 | — | 910 |
| Stock-based compensation expense | — | — | 2,721 | — | 2,721 |
| Net loss | — | — | — | (12,225) | (12,225) |
| Balance at September 30, 2024 | 13,489,712 | $1 | $543,097 | $(678,708) | $(135,610) |
| Stockholders’ Equity (Deficit) | |||||||
|---|---|---|---|---|---|---|---|
| Common Stock | |||||||
| Number ofShares · Amount · Additional Paid-In Capital · AccumulatedDeficit · Total Shareholders' Deficit | |||||||
| Balance at December 31, 2024 | 16,933,692 | $2 | $557,444 | $(677,443) | $(119,997) | ||
| Issuance of common stock related to restricted shares | 747,344 | — | — | — | — | ||
| Issuance of common stock related to performance-based restricted shares | 362,500 | — | — | — | — | ||
| Issuance of common stock related to stock option exercises | 49,570 | — | 255 | — | 255 | ||
| Issuance of common stock related to warrant exercises | 265,725 | 830 | 830 | ||||
| Issuance of common stock in private placements | 816,326 | 2,000 | 2,000 | ||||
| Issuance of common stock in direct offerings | 12,800,002 | 1 | 27,891 | — | 27,892 | ||
| Issuance of warrants to placement agents in direct offerings | — | — | 1,494 | — | 1,494 | ||
| Issuance of common stock under Share Purchase Agreement | 5,692,349 | 1 | 18,957 | — | 18,958 | ||
| Issuance of common stock in settlement of vendor payables | 224,364 | — | 760 | — | 760 | ||
| Issuance of common stock under software license agreement | 1,887,806 | — | 5,789 | — | 5,789 | ||
| Issuance of common stock related to convertible note conversions | 7,178,411 | 1 | 35,181 | — | 35,182 | ||
| Stock-based compensation expense | — | — | 7,957 | — | 7,957 | ||
| Net loss | — | — | — | (73,677) | (73,677) | ||
| Balance at September 30, 2025 | 46,958,089 | $5 | $658,558 | $(751,120) | $(92,557) | ||
| Stockholders’ Equity (Deficit) | |||||
|---|---|---|---|---|---|
| Common Stock | |||||
| Number ofShares | Amount | Additional Paid-In Capital | AccumulatedDeficit | Total Shareholders' Deficit | |
| Balance at December 31, 2023 | 10,878,634 | $1 | $525,049 | $(602,535) | $(77,485) |
| Issuance of common stock related to restricted shares | 215,436 | — | — | — | — |
| Issuance of common stock related to stock option exercises | 278 | — | 1 | — | 1 |
| Issuance of common stock under software license agreement | 1,272,686 | — | 6,000 | — | 6,000 |
| Issuance of common stock under marketing agreement | 26,144 | — | 187 | — | 187 |
| Issuance of common stock under Share Purchase Agreement | 1,547,770 | — | 4,326 | — | 4,326 |
| Shares received as consideration for Mandatory Convertible Security | (900,000) | — | (1,796) | — | (1,796) |
| Conversion of Mandatory Convertible Security to common shares | 448,764 | — | 910 | — | 910 |
| Stock-based compensation expense | — | — | 8,420 | — | 8,420 |
| Net loss | — | — | — | (76,173) | (76,173) |
| Balance at September 30, 2024 | 13,489,712 | $1 | $543,097 | $(678,708) | $(135,610) |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.