Blade Air Mobility, self-described as “a technology-powered air mobility platform,” announced its first quarter 2023 financial results today (May 11). The company cited year-over-year revenue increases of 70 percent over Q1 of 2022; short-distance revenue up 148 percent for the quarter; organ-transplant revenue up 111 percent year-over-year (and up 24 percent “sequentially” over Q4 of 2022); and an increase in overall “flight profit” of 145 percent this quarter (over Q1 2022). Blade attributes the latter numbers to growth in medical services, the acquisition of what is now Blade Europe and “improved profitability” with Blade Canada.
Will Heyburn, Blade’s chief financial officer, said, “We expect this trend to continue in the coming quarters, resulting in year-over-year Adjusted EBITDA [earnings before interest, taxes, depreciation, and amortization] improvement through the balance of the year.”
Rob Wiesenthal, Blade’s chief executive officer, said, “[In our passenger-carrying business units], our number one focus remains driving the business to profitability, providing our investors with an asset-light, manufacturer-agnostic play on urban air mobility that is without peer and well-positioned to generate free cash flow, while standing ready to benefit from broader adoption with the commercialization of Electric Vertical Aircraft (EVA).”
“revenue increases of 70 percent over Q1 of 2022”
Wow! How many aircraft has they delivered?
0
…they’re not an aircraft manufacturer, they’re an operator. They’ve never planned to deliver an aircraft. What you’re saying is “Wow! How many aircraft has United delivered?” well…none.
Maybe it’s worth actually having the slightest idea of what a company does before disparaging them in a comment. But in your case, you’re just going to reflexively crap on anything that is in any way remotely adjacent to eVTOL, just like a bunch of other commenters on this site.
….all with conventional helicopters and conventional aircraft. My mistake, I was joking about the chosen picture not matching reality.
Wow! Pretty harsh response there. This is a happy place.
Aviation is a place where reality wins; It’s happy when you follow it.
“… our number one focus remains driving the business to profitability, providing our investors with an asset-light, manufacturer-agnostic play on urban air mobility that is without peer and well-positioned to generate free cash flow, while standing ready to benefit from broader adoption with the commercialization of Electric Vertical Aircraft.”
– When you KNOW you’ll be quoted because you’ve constructed a sales pitch too dense to be parsed.
Rephrase:
How many aircraft are they operating in regular service? And United?
Hard to agree with the first line of the article after reading an earlier Avweb article about Trevor Jacob, who’s full intent was to become an accident statistic.
Oops, somehow posted to the wrong article.
When they go on about revenue it’s because they don’t want to talk about profit.