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MARKETS / NYSE / SRFM
NYSE · AIR TRANSPORTATION, NONSCHEDULED

Surf AIR Mobility Inc. SRFM

4 fiscal years on record · USD · FY2025 reported · SEC filings only
$106.6M
▼ 10.8% YoY
$-110.6M
$-70.1M
In brief

What this company does

Surf Air Mobility Inc. operates a commuter airline in the United States and an on-demand charter marketplace for passengers in the U.S. and globally. For 2025, the Company served over 300,000 passengers with approximately 62,000 scheduled departures. As of December 31, 2025, it had 573 employees, of which 467 were full-time and 106 were part-time. Its headquarters occupies a leased 5,500 square foot facility in Hawthorne, California. Within Air Mobility, the Company generates Scheduled Air Service revenue from operating scheduled commercial air service flights sold to the public on a per-seat basis and through membership subscriptions. Its On-Demand service generates revenue from flights arranged for customers on an ad-hoc, by-request basis, with a small number operated on the Company's own fleet and the majority delivered on third-party turboprops or small jets. Surf Air Mobility Inc. was originally founded in 2011 and incorporated in Delaware in 2021.

Written from the business description in Surf Air Mobility Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 12 March 2026. Every sentence was checked against that document before publication.

Growth
USD 106.6M
Revenue, FY2025 · full 4-year series below
Revenue $M Net income $M
FY2025 · Revenue 106.6 · Net income -110.6
40M80M-100M-200M2022202320242025
Compound annual growth
+73.9%
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−104 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -72.1% · Net -103.8%
-200%-400%2022202320242025
ROE

Not applicable: equity was negative in this period, so return on equity has no meaning.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -70.1
-25.0M-50.0M2022202320242025

Total assetsUSD 131.7M
EquityUSD -54.9M
CashUSD 12.7M
Gross debtUSD 17.1M
Net debtUSD 4.4M
Current ratio0.23×

Equity was negative — liabilities exceeded assets. No ratio is shown.

The 4-year record
4 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 2025202420232022
Revenue $B0.10.10.10.0
Operating income $B−0.1−0.1−0.2−0.1
EBITDA $B····
Income tax $B−0.0−0.0−0.0·
Net income $B−0.1−0.1−0.3−0.1
Free cash flow $B−0.1−0.1−0.1−0.0
EPS, diluted $−3.15−5.80−44.46−5.51
Dividend / sh $····
Payout %····
ROE %····
Shares out B0.070.020.010.01

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 16 reconciliationsAUDITED

Reconciled in 4 of 19 fiscal years. 79 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityAir Transportation, Nonscheduled
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
SEC categoryemerging growth company
Data on record since2022

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