For the quarter ending 2026-03-31, SRFM had -$8,444K decrease in cash & cash equivalents over the period. -$15,016K in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Revenue | 25,613 | 26,448 | 80,109 | - |
| Aircraft Expenses | 19,535 | 20,481 | 56,331 | - |
| Pilot Expenses | 3,489 | 2,784 | 10,925 | - |
| Other | 2,922 | 2,415 | 9,440 | - |
| Cost of revenue, exclusive of depreciation and amortization | 25,946 | 25,680 | 76,696 | - |
| Technology and development | 2,445 | 2,287 | 8,012 | - |
| Sales and marketing | 1,966 | 2,963 | 5,214 | - |
| General and administrative | 6,059 | 19,112 | 34,173 | - |
| Depreciation and amortization | 2,552 | 2,282 | 7,012 | - |
| Total operating expenses | 38,968 | 52,324 | 131,107 | - |
| Operating loss | -13,355 | -25,876 | -50,998 | - |
| Changes in fair value of financial instruments carried at fair value, net | -3,613 | 1,198 | -9,772 | - |
| Interest expense | 1,224 | 2,289 | 10,916 | - |
| Gain (loss) on extinguishment of debt | - | -3,943 | 39 | - |
| Other expense, net | -2,109 | -6,170 | -2,209 | - |
| Total other income (expense), net | -6,946 | -11,204 | -22,858 | - |
| Loss before income taxes | -20,301 | -37,080 | -73,856 | - |
| Income tax benefit | -39 | -201 | -179 | - |
| Net loss | -20,262 | -36,879 | -27,213 | -46,464 |
| Loss (gain) on extinguishment of debt | - | -3,943 | 0 | 39 |
| Depreciation and amortization | 2,552 | 2,282 | 2,423 | 4,589 |
| Loss on sale of fixed assets | 0 | -136 | 0 | -818 |
| Non-cash operating lease expense | 1,059 | 1,120 | 1,169 | 2,765 |
| Stock-based compensation expense | 1,388 | 2,104 | 2,268 | 5,689 |
| Changes in fair value of financial instruments carried at fair value, net | -3,613 | 1,198 | -7,415 | -2,357 |
| Non-cash credit support expense | - | 265 | - | - |
| Non-cash lease termination expense | - | 5,376 | - | - |
| Non-cash transaction costs for issuance of ht shares | 1,608 | - | - | - |
| Amortization of debt discounts and debt issuance costs | 182 | 119 | 398 | 1,210 |
| Deferred income taxes | -39 | -201 | -62 | -117 |
| Accounts receivable, net | -224 | -1,106 | -273 | 1,051 |
| Prepaid expenses and other current assets | -1,053 | -1,595 | -921 | 2,325 |
| Other assets | -891 | 219 | -24 | -319 |
| Accounts payable | 2,706 | 78 | -336 | 2,745 |
| Due to related parties | -130 | -403 | - | - |
| Accrued expenses and other current liabilities | -6,943 | 1,140 | -3,234 | 5,455 |
| Deferred revenue | 666 | 1,955 | -1,884 | 460 |
| Operating lease liabilities | -820 | -691 | -1,503 | -2,849 |
| Other liabilities | 0 | 0 | 0 | -9 |
| Cash flows used in operating activities | -12,252 | -18,372 | -19,341 | -26,447 |
| Purchase of property and equipment | 2,764 | 1,718 | 1,735 | 2,483 |
| Proceeds from the sale of fixed assets | - | 0 | 0 | 2,681 |
| Internal-use software development costs | 775 | 692 | 542 | 1,222 |
| Net cash used in investing activities | -3,539 | -2,410 | -2,277 | -1,024 |
| Proceeds from borrowings on convertible notes | - | 65,000 | - | - |
| Payments of borrowings on convertible notes | 4,000 | 4,000 | - | - |
| Borrowings on long-term debt | - | - | 917 | 1,833 |
| Proceeds from borrowings on long-term debt | - | 3,056 | - | - |
| Principal payments on long-term debt | 639 | 51,034 | 603 | 1,318 |
| Principal payments on mandatory convertible security | - | 20,897 | 8,215 | 9,503 |
| Proceeds from issuance of common stock | - | 20,001 | 0 | 31,386 |
| Common shares repurchases for employee tax withholding | - | 380 | - | - |
| Proceeds from sales and advances under share purchase agreement | 12,000 | 28,225 | 8,214 | 10,744 |
| Proceeds from (payments on) collateralized borrowings, net of repayment | 52 | -729 | -147 | 340 |
| Proceeds from exercise of stock options | - | 0 | 255 | - |
| Proceeds from borrowings from related parties | - | 0 | - | - |
| Proceeds from exercise of warrants | - | 0 | 830 | - |
| Payments of debt issuance costs | - | 0 | - | - |
| Payment of finance lease obligations | 66 | 64 | 65 | 137 |
| Net cash provided by financing activities | 7,347 | 36,428 | 1,186 | 33,345 |
| Increase in cash, cash equivalents and restricted cash | -8,444 | 15,646 | -20,432 | 5,874 |
| Cash, cash equivalents and restricted cash at beginning of period | 22,763 | 7,117 | 21,675 | - |
| Cash, cash equivalents and restricted cash at end of period | 14,319 | 22,763 | 7,117 | - |
SURF AIR MOBILITY INC. (SRFM)
SURF AIR MOBILITY INC. (SRFM)