SURF AIR MOBILITY INC.

For the period ended Mar 31, 2026. Filed May 11, 2026.

About 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.

Mar 31, 2026 · Filed May 11, 2026

SRFM$0.74+5.2%Stored close · as of Nov 10, 2026

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Contents

Unaudited Condensed Consolidated Balance Sheets

March 31, 2026 and December 31, 2025

(in thousands, except share and per share data)

	March 31,2026	December 31,2025
Assets:
Current assets:
Cash	$4,163	$12,672
Accounts receivable, net	3,705	3,929
Prepaid expenses and other current assets	13,190	14,320
Total current assets	21,058	30,921
Restricted cash	10,156	10,091
Property and equipment, net	47,393	45,595
Intangible assets, net	19,330	20,067
Operating lease right-of-use assets	11,358	12,510
Finance lease right-of-use assets	735	809
Other assets	10,797	11,688
Total assets	$120,827	$131,681
Liabilities and Shareholders’ Deficit:
Current liabilities:
Accounts payable	$21,143	$18,437
Accrued expenses and other current liabilities	41,290	47,702
Deferred revenue	18,590	17,924
Current maturities of long-term debt	2,741	2,712
Operating lease liabilities, current	3,636	3,636
Finance lease liabilities, current	282	277
SAFE notes at fair value, current	3	5
Convertible notes at fair value, current	44,867	42,274
Due to related parties, current	374	643
Total current liabilities	132,926	133,610
Long-term liabilities:
Long-term debt, net of current maturities	13,760	14,389
Convertible notes at fair value, long term	14,029	25,183
Operating lease liabilities, long term	7,801	8,714
Finance lease liabilities, long term	599	670
Due to related parties, long term	100	100
Other long-term liabilities	8,207	3,872
Total liabilities	$177,422	$186,538
Commitments and contingencies (Note 10):
Redeemable Common Stock:
Common Stock, $0.0001 par value; 3,510,638 and 0 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively (Note 12).	6,600	-
Shareholders’ deficit:
Preferred Stock, $0.0001 par value; 50,000,000 shares authorized; 0 shares issued and outstanding at March 31, 2026 and December 31, 2025	—	—
Common stock, $0.0001 par value; 800,000,000 shares authorized as of both March 31, 2026 and December 31, 2025; 78,399,455 shares issued and outstanding as of March 31, 2026 and 73,082,025 shares issued and outstanding as of December 31, 2025	8	7
Additional paid-in capital	745,058	733,135
Accumulated deficit	(808,261)	(787,999)
Total shareholders’ deficit	$(63,195)	$(54,857)
Total liabilities, redeemable common stock, and shareholders’ deficit	$120,827	$131,681

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.