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 significant revenue growth, with Q4 2021 revenues climbing 144% year-over-year and fiscal year 2021 revenues increasing 116% over 2020.
The company is well-capitalized with $305 million in cash and a debt-free balance sheet, enabling an aggressive growth strategy through organic expansion and acquisitions despite comparable negative earnings.
Blade has demonstrated resilience to the Omicron variant, partly due to its mandatory vaccination policy, and is actively expanding its North American footprint through strategic partnerships like the $12 million deal with Helijet International.

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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.