Blade Air Mobility Reports Strong YOY Growth

Company says revenues grew to $20 million in fourth quarter, up 144 percent over 2020.

Monday, December 20, 2021 at 05:37 PM ET

Verified

Blade Air Mobility says its annualized run rate of passengers sits at 20,000 people, which it says matches pre-covid levels. [Courtesy: Blade Air Mobility]

Key Takeaways:

Blade Air Mobility reported substantial revenue growth, with Q4 2021 revenues up 144% year-over-year and fiscal year revenues up 116%, supported by a strong $305 million cash position for future growth and acquisitions.
Despite potential COVID-19 challenges, Blade claims no negative impact from the Omicron variant due to its mandatory vaccination policy, with its short-distance business nearing pre-COVID revenue levels.
The company operates an asset-light platform model, coordinating air services and preparing for Electric Vertical Aircraft (EVA), while strategically expanding its North American presence through key partnerships like the $12 million Helijet deal and recent acquisitions.

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Blade Air Mobility (NASDAQ: BLDE), an urban air mobility platform that operates in the U.S., Canada, and India, reported strong growth around its business, indicating that its year-over-year fourth-quarter revenues climbed 144 percent from 2020, and 28 percent compared to 2019 numbers.

On its earnings call Monday, Blade CEO Rob Wiesenthal said that despite the comparable negative earnings of $4.7 million for the fiscal year, their bullish growth strategy and $305 million in cash and short-term investment puts them in a good position.