For the year ending 2025-12-31, SRFM had $1,088K increase in cash & cash equivalents over the period. -$70,096K in free cash flow.
| Cash Flow | 2025-12-31 |
|---|---|
| Revenue | 106,557 |
| Aircraft Expenses | 76,812 |
| Pilot Expenses | 13,709 |
| Other | 11,855 |
| Cost of revenue, exclusive of depreciation and amortization | 102,376 |
| Technology and development | 10,299 |
| Sales and marketing | 8,177 |
| General and administrative | 53,285 |
| Depreciation and amortization | 9,294 |
| Total operating expenses | 183,431 |
| Operating loss | -76,874 |
| Changes in fair value of financial instruments carried at fair value, net | -8,574 |
| Interest expense | 13,205 |
| Gain (loss) on extinguishment of debt | -3,904 |
| Other income (expense), net | -8,379 |
| Total other income (expense), net | -34,062 |
| Loss before income taxes | -110,936 |
| Income tax benefit | -380 |
| Net loss | -110,556 |
| Depreciation and amortization | 9,294 |
| Loss (gain) on sale of fixed assets | -954 |
| Non-cash operating lease expense | 5,054 |
| Loss (gain) on extinguishment of debt | -3,904 |
| Stock-based compensation expense | 10,061 |
| Changes in fair value of financial instruments carried at fair value, net | -8,574 |
| Non-cash credit support expense | 265 |
| Non-cash lease termination expense | 5,376 |
| Amortization of debt discounts and debt issuance costs | 1,727 |
| Deferred income taxes | -380 |
| Accounts receivable, net | -328 |
| Prepaid expenses and other current assets | -191 |
| Other assets | -124 |
| Accounts payable | 2,487 |
| Due to a related party | -403 |
| Accrued expenses and other current liabilities | 3,361 |
| Deferred revenue | 531 |
| Operating lease liabilities | -5,043 |
| Other liabilities | -9 |
| Cash flows used in operating activities | -64,160 |
| Purchase of property and equipment | 5,936 |
| Proceeds from the sale of fixed assets | 2,681 |
| Internal-use software development costs | 2,456 |
| Net cash used in investing activities | -5,711 |
| Proceeds from borrowings on convertible notes | 65,000 |
| Payments of borrowings on convertible notes | 4,000 |
| Proceeds from borrowings on long-term debt | 3,056 |
| Principal payments on long-term debt | 52,955 |
| Principal payments on mandatory convertible security | 38,615 |
| Proceeds from issuance of common stock | 51,387 |
| Common shares repurchases for employee tax withholding | 380 |
| Proceeds from sales and advances under share purchase agreement | 47,183 |
| Proceeds from (payments on) collateralized borrowings, net of repayment | -536 |
| Proceeds from borrowings from related parties | 0 |
| Payments of debt issuance costs | 0 |
| Payment of finance lease obligations | 266 |
| Proceeds from exercise of warrants | 830 |
| Proceeds from exercise of stock options | 255 |
| Net cash provided by financing activities | 70,959 |
| Increase in cash, cash equivalents and restricted cash | 1,088 |
| Cash, cash equivalents and restricted cash at beginning of period | 21,675 |
| Cash, cash equivalents and restricted cash at end of period | 22,763 |
SURF AIR MOBILITY INC. (SRFM)
SURF AIR MOBILITY INC. (SRFM)