Blade air mobility announces second quarter 2025 results
Medical revenue increased 17.6% year-over-year in q2 2025 net loss improved by $7.6 million versus the prior year to $(3.7) million in q2 2025; adjusted ebitda improved by $2.2 million versus the prior year to $3.2 million in q2 2025 (1) blade passenger division to be sold to joby aviation for up to $125 million; blade's medical division will remain a standalone public company, rebrand as strata critical medical ("strata") sale is expected to be adjusted ebitda and free cash flow neutral on a go forward basis new york, aug. 05, 2025 (globe newswire) -- blade air mobility, inc. (nasdaq: blde, "blade" or the "company"), today announced financial results for the second quarter ended june 30, 2025. gaap financial results (in thousands except percentages, unaudited) three months ended june 30, six months ended june 30, 2025 2024 % change 2025 2024 % change revenue $ 70,801 $ 67,945 4.2 % $ 125,107 $ 119,459 4.7 % cost of revenue $ 53,064 $ 51,591 2.9 % $ 95,392 $ 92,966 2.6 % software development 915 971 (5.8 ) % 1,727 1,641 5.2 % general and administrative 20,142 25,136 (19.9 ) % 37,456 42,345 (11.5 ) % selling and marketing 1,634 2,396 (31.8 ) % 3,069 4,524 (32.2 ) % total operating expenses $ 75,755 $ 80,094 (5.4 ) % $ 137,644 $ 141,476 (2.7 ) % loss from operations $ (4,954 ) $ (12,149 ) (59.2 ) % $ (12,537 ) $ (22,017 ) (43.1 ) % net loss $ (3,743 ) $ (11,326 ) (67.0 ) % $ (7,236 ) $ (15,560 ) (53.5 ) % gross profit $ 12,889 $ 11,336 13.7 % $ 20,982 $ 17,188 22.1 % gross margin 18.2 % 16.7 % 150bps 16.8 % 14.4 % 240bps non-gaap (1) financial results (in thousands except percentages, unaudited) three months ended june 30, six months ended june 30, 2025 2024 % change 2025 2024 % change revenue $ 70,801 $ 67,945 4.2 % $ 125,107 $ 119,459 4.7 % cost of revenue 53,064 51,591 2.9 % 95,392 92,966 2.6 % flight profit 17,737 16,354 8.5 % 29,715 26,493 12.2 % flight margin 25.1 % 24.1 % 100bps 23.8 % 22.2 % 160bps adjusted sg&a 15,399 15,834 (2.7 )% 29,370 29,602 (0.8 )% depreciation included in cost of revenue 852 438 nm(2) 1,607 521 nm(2) adjusted ebitda $ 3,190 $ 958 233.0 % $ 1,952 $ (2,588 ) nm(2) adjusted ebitda as a percentage of revenue 4.5 % 1.4 % 310bps 1.6 % (2.2 )% nm(2) passenger adjusted ebitda $ 2,389 $ 782 205.5 % $ 2,443 $ (1,869 ) nm(2) medical adjusted ebitda $ 6,039 $ 5,524 9.3 % $ 10,137 $ 9,933 2.1 % adjusted unallocated corporate expenses and software development $ (5,238 ) $ (5,348 ) (2.1 )% $ (10,628 ) $ (10,652 ) (0.2 )% (1) see "use of non-gaap financial information" and "key metrics and non-gaap financial information" sections attached to this release for an explanation of non-gaap measures used and reconciliations to the most directly comparable gaap financial measure.
