SURF AIR MOBILITY INC.
For the period ended Sep 30, 2025. Filed Nov 12, 2025.
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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, 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.
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Unaudited Condensed Consolidated Statements of Operations
Three and Nine Months Ended September 30, 2025 and 2024
(in thousands, except share and per share data)
| Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Revenue | $29,172 | $28,386 | $80,109 | $91,376 |
| Operating expenses: | ||||
| Cost of revenue, exclusive of depreciation and amortization | 27,662 | 27,496 | 76,696 | 83,714 |
| Technology and development | 2,327 | 5,710 | 8,012 | 18,377 |
| Sales and marketing | 2,060 | 1,282 | 5,214 | 6,869 |
| General and administrative | 11,200 | 415 | 34,173 | 44,620 |
| Depreciation and amortization | 2,423 | 2,121 | 7,012 | 6,161 |
| Total operating expenses | 45,672 | 37,024 | 131,107 | 159,741 |
| Operating loss | $(16,500) | $(8,638) | $(50,998) | $(68,365) |
| Other income (expense): | ||||
| Changes in fair value of financial instruments carried at fair value, net | $(7,415) | $(1,249) | $(9,772) | $(1,918) |
| Interest expense | (3,255) | (2,087) | (10,916) | (5,669) |
| Gain on extinguishment of debt | — | — | 39 | — |
| Other expense | (105) | (265) | (2,209) | (316) |
| Total other expense, net | $(10,775) | $(3,601) | $(22,858) | $(7,903) |
| Loss before income taxes | (27,275) | (12,239) | (73,856) | (76,268) |
| Income tax benefit | 62 | 14 | 179 | 95 |
| Net loss | $(27,213) | $(12,225) | $(73,677) | $(76,173) |
| Net loss per share applicable to common stockholders, basic and diluted | $(0.64) | $(0.94) | $(2.74) | $(6.40) |
| Weighted-average number of shares of common stock used in net loss per share applicable to common stockholders, basic and diluted | 42,430,909 | 12,970,898 | 26,850,694 | 11,908,406 |
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