Blade Air Mobility Shares Gain As Q2 Results Exceed Expectations - Blade Air Mobility (NASDAQ:BLDE)

Blade Air Mobility Inc BLDE reported second-quarter revenue growth of 175% year-over-year to $35.63 million, above the consensus of $26.82 million.
Net income for the quarter totaled $8.41 million versus a net loss of $(24.29) million a year ago.
EPS was $0.10, beating the consensus of $(0.17).
Flight Margin was 14.3%, down versus 23% in the prior year period, driven primarily by the significant revenue mix shift towards MediMobility Organ Transport and re-launch of Blade Airport service.
Short Distance revenue increased 89% Y/Y to $11 million, and Jet and Other revenue increased 32% Y/Y to $7.4 million.
MediMobility Organ Transport revenue increased 1,013% Y/Y to $17.2 million, driven by Blade's acquisition of Trinity in September 2021.
Loss from operations widened to $(9.73) million, compared to $(7.77) million in 2Q21. Adjusted EBITDA loss was $(6.12) million versus $(2.57) million in 2Q21.
Blade Air Mobility's net cash used in operating activities year-to-date was $(21.66) million, compared to $(9.82) million in 2Q21.
"Given unwavering demand from our fliers coupled with continued strong sequential growth in our MediMobility Organ Transport business, Blade has proven it is well positioned to thrive in this uncertain macroeconomic environment," said CEO Rob Wiesenthal.
Price Action: BLDE shares are trading higher by 5.14% at $6.54 during the premarket session on Tuesday.