Q4 2023 Investor Update
To Our Shareholders,
2023 was another record year for Blade. Our full-year Revenue increased by 54.1% to $225.2 million versus the prior year, while Flight Profit increased by 84.0% as our intense focus on margin enhancement initiatives generated results. This led to a $10.8 million improvement in Adjusted EBITDA
versus the prior year period, to ($16.6) million for the full year 2023.
Blade Airport, our helicopter service between Manhattan and
New York Area airports, starting at $195 per seat, delivered
positive Flight Profit not just for Q3 and Q4, but also for the full year 2023.
When we launched Blade Airport in 2021, we set up the unit economics to be profitable at just above two out of six seats sold per flight. Though we knew that our growth and customer acquisition metrics were pointing in the right direction, the two-
year ramp-up process required hard work from our operations team and patience from our investors. We would like to acknowledge our flier experience, flier relations, operations and on-the-ground logistics teams, and our ground transport partners at Mercedes-Benz USA for working so diligently to make this product a success. We look forward to continued growth this year and beyond, as we begin to transition to Electric Vertical Aircraft (EVA) in the coming years.
On the operational front, we are excited to announce the acquisition of eight jet aircraft to support our continued rapid growth in Medical, enabling lower cost service and improved availability for the hospitals we serve and improved unit economics for Blade.
Our Medical business has more than tripled since our acquisition of Trinity in 2021, presenting us with an opportunity to further leverage our scale through the purchase of a limited number of aircraft. By purchasing aircraft that we already utilize exclusively, and by maintaining the existing operator and crews, we are well-positionedto capture incremental fixed- cost leverage without the risk of building a new medical aircraft operation from the ground up.
We believe this change will further improve our competitive positioning without compromising the benefits of our asset-light model, as the vast majority of our Medical flights and nearly 100% of our Passenger flights will continue to be serviced by our very select group of third-partyowned and operated aircraft in the U.S., Europe and Canada.
Q4 2023 Investor Update | 2
Blade Europe - Saint Tropez, France
Financial Results and Outlook
We manage our business primarily based on Flight Profit rather than Revenue, which can be influenced by a number of factors like fuel costs and landing fees, which we largely pass through, jet charter market pricing, aircraft repositioning and mix shifts between air and ground in our Medical business.
Recently, we have made significant progress transitioning more of our Medical flights to dedicated aircraft that provide us with fixed cost leverage as we grow and are strategically based near our hospital customers. This has enabled us to improve our Flight Profit dollars per trip while reducing costs for our hospital customers and, more importantly, increasing availability with shorter call-outtimes, which can lead to better patient outcomes. When paired with our growing fleet of medical vehicles and new organ placement offering, we have built the most cost-effectiveand reliable end-to-endorgan logistics platform in the United States. Even though we saw a slight sequential decrease in Medical Revenues from Q3 to Q4, Medical Flight Profit increased sequentially over the same period, a testament to our strategy.
At the same time, we improved our Passenger Flight Profit margins by 5 percentage-pointsin Q4 2023 versus the prior year, demonstrating our path to full-yearprofitability in the Passenger segment, which we expect in 2025.
As such, Flight Profit increased 65.7% to $9.0 million in Q4 2023 versus $5.4 million in the prior year period, well ahead of our expectations, driven by strong growth in our Medical business and improved profitability across our U.S. Short Distance business. We are pleased to see Flight Profit growing significantly ahead of Revenue, which increased 24.5% to $47.5 million in Q4 2023.
Now, a few highlights from our business segments in the fourth quarter. Medical Segment Revenue increased 48% to $32.0 million in the fourth quarter of 2023 versus $21.6 million in the comparable 2022 period. Approximately 45% of this quarter's growth was driven by the addition of new customers, with the remainder driven by growth with existing clients, as well as strong overall market growth. Industry-wide, we continue to see longer-distance trips versus the prior year period as transplant centers fly farther to enable more transplants resulting in more flight hours and increasing the Revenue opportunity for Blade.
Q4 2023 Investor Update | 3
Blade Medical - Hawker 800 Jet
Medical Revenue was at the low end of our expectations this quarter. Compared to Q3 2023, we saw a slightly higher percentage of organ transport travelling ground-only while our increased use of dedicated aircraft helped reduce repositioning for our hospital customers. Generally, use of dedicated aircraft will slightly decrease flight hours and Revenue per air trip, while Flight Profit per air trip will increase.
Flight Profit performance, on the other hand, exceeded our expectations. Our previous guidance towards Medical Flight Margins was in the 18 to 19 percent range for Q4 2023 with continued steady improvement towards 20%+ in the future. We achieved a 20.1% medical Flight Profit Margin, a 4-percentage-point improvement year-over-year and a 2-percentage- point sequential improvement versus Q3 2023. Our faster-than-planned adoption of dedicated aircraft and owned ground vehicles allowed us to achieve this important milestone more swiftly than initially anticipated.
Medical Segment Flight Profit was $6.4 million in the current quarter, an increase of $2.9 million or 81% versus $3.6 million in the comparable 2022 period. Medical Segment Adjusted EBITDA was up 58% to $2.5 million in the fourth quarter of 2023, versus $1.6 million in the comparable 2022 period. Q4 2023 Medical SG&A was a little heavier than we expected, given startup costs associated with TOPS and some end-of-yearcommission catch-up,driven by great performance. We are expecting slightly lower Medical SG&A in Q1, followed by low single-digitssequential growth, as we ramp up TOPS and add logistics staff.
We are also excited to announce the acquisition of eight Hawker 800 aircraft to bolster our Medical operations. In our experience, the Hawker platform is longer range and lower cost, with more cargo capacity than other aircraft used by our competitors. This new arrangement results in both lower costs for our customers and higher margins for Blade. Based on our average utilization of these aircraft in 2023, we should see a 5 to 10 percentage-pointFlight Profit margin uplift for flights utilizing these owned aircraft, which will help us to achieve our goal of 25%+ Flight Profit margins in Medical over the coming quarters. We recently signed the purchase agreement and expect to start seeing improved margins during the month of March.
These specific aircraft are among our most highly utilized, are under capacity purchase agreements today, and are strategically positioned in areas with significant demand from overlapping customers. Going forward, we will continue to assess aircraft acquisitions only in areas where we are already servicing significant customer demand. We remain
committed to our asset-light model and expect the significant majority of our flying to remain with third-party owned
and operated aircraft. For example, we expect the specific owned aircraft discussed today to represent only about 10% of
Blade's overall flying activity in 2024. The opportunity for further margin expansion is apparent.
Q4 2023 Investor Update | 4
The $21.0 million acquisition cost will be funded through $11.7 million in cash and $9.3 million in existing deposits with the operator.
Turning to our Passenger business, Q4 for our Short Distance segment is always a seasonally light quarter, but we are pleased that Revenue was up 14% to $10.7 million in the fourth quarter of 2023, versus $9.4 million in the comparable 2022 period driven by an increase in seat volume and stronger pricing in our by-the-seat Blade Airport product, and increased Revenue in Europe and Canada.
Blade Airport continued to be a positive contributor to Flight Profit this quarter and was Flight Profit positive for full-year2023, meaning it covered all costs related to air and intra-terminal ground transportation for our fliers.
In Jet and Other, Revenues decreased 32.4% to $4.8 million in the current quarter versus $7.1 million in the prior year period driven primarily by our decision to discontinue BladeOne, our seasonal by-the-seat jet service between New York and South Florida, a $1.7mm impact, and softness in jet charter.
Passenger Segment Flight Profit increased by $0.7 million or 37% to $2.6 million in the fourth quarter of 2023, from $1.9 million in the same period of 2022. The increase was attributable primarily to improved pricing and utilization in our by- the-seatBlade Airport product. All this led to a $1.1 million improvement in Passenger Segment Adjusted EBITDA to ($2.6) million in the fourth quarter of 2023 versus ($3.8) million in the prior year period.
On the corporate cost side, yet again we were able to reduce our Adjusted Unallocated Corporate Expenses, decreasing 11.3% in Q4 2023 vs. the prior year period which, when coupled with our Flight Profit growth across Medical and Passenger, led to a $2.7 million improvement in Adjusted EBITDA versus the prior year period to ($5.2) million in Q4 2023.
Conclusion
With respect to our balance sheet, given our improving financial performance, we expect that the majority of our $166 million in cash and short-termsecurities, as of the end of the fourth quarter of 2023, will be utilized for tactical acquisitions in our medical segment or further accretive investments in our aircraft supply base.
The best is yet to come and we are excited about the years ahead.
Sincerely,
Rob Wiesenthal
Founder and Chief Executive Officer
Q4 2023 Investor Update | 5
Use of Non-GAAP Financial Information
Blade believes that the non-GAAP measures discussed below, viewed in addition to and not in lieu of our reported U.S. Generally Accepted Accounting Principles ("GAAP") results, provide useful information to investors by providing a more focused measure of operating results, enhance the overall understanding of past financial performance and future prospects, and allow for greater transparency with respect to key metrics used by management in its financial and operational decision making. The non-GAAP measures presented herein may not be comparable to similarly titled measures presented by other companies. Adjusted EBITDA, Segment Adjusted EBITDA, Adjusted Unallocated Corporate Expenses, Corporate Expenses, Adjusted Corporate Expenses, Flight Profit, Flight Margin, Free Cash Flow and Pro forma revenue have been reconciled to the nearest GAAP measure in the tables within this press release.
Adjusted EBITDA and Segment Adjusted EBITDA - Blade reports Adjusted EBITDA, which is a non-GAAP financial measure. This measure excludes non-cash items or certain transactions that are not indicative of ongoing Company operating performance and
- or items that management does not believe are reflective of our ongoing core operations (as shown in the table below). Blade defines Segment Adjusted EBITDA as segment net income (loss) excluding non-cash items or certain transactions that management does not believe are reflective of our ongoing core operations.
Adjusted Unallocated Corporate Expenses - Blade defines Adjusted Unallocated Corporate Expenses as expenses attributable to our Corporate expenses and software development operating segment less non-cash items or certain transactions that are not indicative of ongoing Company operating performance and / or items that management does not believe are reflective of our ongoing core operations that cannot be allocated to either of our reporting segments (Passenger and Medical). Adjusted Unallocated Corporate Expenses has the same meaning as Segment Adjusted EBITDA for our Corporate expenses and software development operating segment and is reconciled in the tables below under the caption "Reconciliation of Segment Net Income (loss) to Segment Adjusted EBITDA."
Constant currency - The consolidated financial statements included here are presented in U.S. dollars. However, Blade's international operations give rise to fluctuations in foreign exchange rates. To compare results between periods as if exchange rates had remained constant period-over-period and allow change in revenue to be evaluated without the impact of foreign currency exchange rate fluctuations, Blade has included results in constant currency. These are calculated by applying the current period exchange rates to local currency reported results for both the current and prior year.
Corporate Expenses and Adjusted Corporate Expenses - Blade defines Corporate Expenses as total operating expenses excluding cost of revenue. Blade defines Adjusted Corporate Expenses as Corporate Expenses excluding non-cash items or certain transactions that are not indicative of ongoing Company operating performance and / or items that management does not believe are reflective of our ongoing core operations.
Flight Profit and Flight Margin - Blade defines Flight Profit as revenue less cost of revenue, and in 2022 excluding non-cash right- of-use ("ROU") asset amortization. Cost of revenue consists of flight costs paid to operators of aircraft and cars, landing fees, ROU asset amortization and internal costs incurred in generating ground transportation revenue using the Company's owned cars. Blade defines Flight Margin for a period as Flight Profit for the period divided by revenue for the same period. Blade believes that Flight Profit and Flight Margin provide a more accurate measure of the profitability of the Company's flight and ground operations, as they focus solely on the direct costs associated with those operations. Blade believes the exclusion of ROU asset amortization from Flight Profit and Flight Margin is helpful as it better represents the Company's actual payable charges in exchange for flights served by the operators. We also believe that excluding this non-cash ROU asset amortization expense will aid in comparing to prior and future periods as we do not expect it to re-occur after the fourth quarter of 2022, which it did not, as shown in the table below.
Free Cash Flow - Blade defines Free Cash Flow as net cash provided by / (used in) operating activities less capital expenditures.
Pro forma revenue - Pro forma revenue gives effect to revenue from acquisitions that occurred after the commensurate period of the prior year as if they had been acquired on the first day of the commensurate period of the prior year. Pro forma change in revenue is calculated as the difference between the current reported GAAP revenue and the comparative period pro forma revenue. Management believes that discussing pro forma revenue contributes to the understanding of Blade's performance and trends, because it allows for comparisons of the current year period to that of prior years, normalized for the impact of acquisitions. Management believes that pro forma change in revenue assists in measuring the underlying revenue growth of our business as it stands as of the end of the current year period, which we believe provides insight into our then-current operations. Pro forma change in revenue does not represent organic revenue generated by our business as it stood at the beginning of the prior year period.
Q4 2023 Investor Update | 6
Financial Results
BLADE AIR MOBILITY, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except share data, unaudited)
December 31, | December 31, | ||||
2023 | 2022 | ||||
Assets | |||||
Current assets: | |||||
Cash and cash equivalents (1) | $ | 27,873 | $ | 41,338 | |
Restricted cash (1) | 1,148 | 3,085 | |||
Accounts receivable, net of allowance of $98 and $0 at December 31, 2023 and December 31, | 21,005 | 10,877 | |||
2022 | |||||
Short-term investments | 138,264 | 150,740 | |||
Prepaid expenses and other current assets | 17,971 | 12,086 | |||
Total current assets | 206,261 | 218,126 | |||
Non-current assets: | |||||
Property and equipment, net | 2,899 | 2,037 | |||
Intangible assets, net | 20,519 | 46,365 | |||
Goodwill | 40,373 | 39,445 | |||
Operating right-of-use asset | 23,484 | 17,692 | |||
Other non-current assets (1) | 1,402 | 1,360 | |||
Total assets | $ | 294,938 | $ | 325,025 | |
Liabilities and Stockholders' Equity | |||||
Current liabilities: | |||||
Accounts payable and accrued expenses | $ | 23,859 | $ | 16,536 | |
Deferred revenue | 6,845 | 6,709 | |||
Operating lease liability, current | 4,787 | 3,362 | |||
Total current liabilities | 35,491 | 26,607 | |||
Non-current liabilities: | |||||
Warrant liability | 4,958 | 7,083 | |||
Operating lease liability, long-term | 19,738 | 14,970 | |||
Deferred tax liability | 451 | 1,876 | |||
Total liabilities | 60,638 | 50,536 |
Stockholders' Equity
Preferred stock, $0.0001 par value, 2,000,000 shares authorized at December 31, 2023 and December 31, 2022. No shares issued and outstanding at December 31, 2023 and December 31, 2022.
Common stock, $0.0001 par value; 400,000,000 authorized; 75,131,425 and 71,660,617 shares issued at December 31, 2023 and December 31, 2022, respectively.
Additional paid in capital
Accumulated other comprehensive income
Accumulated deficit
Total stockholders' equity
-
7
390,083
3,964
(159,754)
234,300
-
7
375,873
2,287
(103,678)
274,489
Total Liabilities and Stockholders' Equity | $ | 294,938 | $ | 325,025 | |
(1) Prior year amounts have been updated to conform to current period presentation.
Q4 2023 Investor Update | 7
BLADE AIR MOBILITY, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except share and per share data, unaudited)
Three Months Ended | Year Ended December 31, | ||||||||||
December 31, | |||||||||||
2023 | 2022 | 2023 | 2022 | ||||||||
Revenue | $ | 47,478 | $ | 38,135 | $ | 225,180 | $ | 146,120 | |||
Operating expenses | |||||||||||
Cost of revenue | 38,468 | 33,160 | 183,058 | 123,845 | |||||||
Software development | 988 | 1,622 | 4,627 | 5,545 | |||||||
General and administrative | 41,242 | 20,576 | 95,174 | 62,510 | |||||||
Selling and marketing | 2,413 | 2,455 | 10,438 | 7,749 | |||||||
Total operating expenses | 83,111 | 57,813 | 293,297 | 199,649 | |||||||
Loss from operations | (35,633) | (19,678) | (68,117) | (53,529) | |||||||
Other non-operating income (expense) | |||||||||||
Interest income, net | 2,264 | 1,542 | 8,442 | 3,434 | |||||||
Change in fair value of warrant liabilities | (1,698) | 1,984 | 2,125 | 24,225 | |||||||
Realized gain (loss) from sales of short-term investments | 103 | (91) | 8 | (2,162) | |||||||
Total other non-operating income | 669 | 3,435 | 10,575 | 25,497 | |||||||
Loss before income taxes | (34,964) | (16,243) | (57,542) | (28,032) | |||||||
Income tax benefit | (1,023) | (828) | (1,466) | (772) | |||||||
Net loss | $ | (33,941) | $ | (15,415) | $ | (56,076) | $ | (27,260) | |||
Net loss per share: | |||||||||||
Basic | $ | (0.45) | $ | (0.22) | $ | (0.76) | $ | (0.38) | |||
Diluted | $ | (0.45) | $ | (0.22) | $ | (0.76) | $ | (0.38) | |||
Weighted-average number of shares outstanding: | |||||||||||
Basic | 74,759,544 | 71,648,610 | 73,524,476 | 71,238,103 | |||||||
Diluted | 74,759,544 | 71,648,610 | 73,524,476 | 71,238,103 | |||||||
Q4 2023 Investor Update | 8
BLADE AIR MOBILITY, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands, unaudited)
Three Months Ended | Year Ended December 31, | |||||||||||||
December 31, | ||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||
Cash Flows From Operating Activities: | ||||||||||||||
Net loss | $ | (33,941) | $ | (15,415) | $ | (56,076) | $ | (27,260) | ||||||
Adjustments to reconcile net income (loss) to net cash and restricted cash used | ||||||||||||||
in operating activities: | ||||||||||||||
Depreciation and amortization | 1,806 | 1,984 | 7,111 | 5,725 | ||||||||||
Stock-based compensation | 3,153 | 2,650 | 12,501 | 8,277 | ||||||||||
Change in fair value of warrant liabilities | 1,698 | (1,984) | (2,125) | (24,225) | ||||||||||
Impairment of intangible assets | 20,753 | - | 20,753 | - | ||||||||||
Realized (gain) loss from sales of short-term investments | (103) | 91 | (8) | 2,162 | ||||||||||
Realized foreign exchange loss | - | (1) | 6 | 6 | ||||||||||
Accretion of interest income on held-to-maturity securities | (1,803) | (783) | (6,519) | (1,094) | ||||||||||
Deferred tax benefit | (1,023) | (772) | (1,466) | (772) | ||||||||||
Loss on disposal of property and equipment | 48 | (129) | 48 | 68 | ||||||||||
Bad debt expense | (8) | - | 163 | - | ||||||||||
Changes in operating assets and liabilities: | ||||||||||||||
Prepaid expenses and other current assets | (4,928) | (1,474) | (6,032) | (5,255) | ||||||||||
Accounts receivable | 125 | (886) | (10,254) | (5,347) | ||||||||||
Other non-current assets | 12 | 396 | 4 | (663) | ||||||||||
Operating right-of-use assets/lease liabilities | (42) | 415 | 379 | 611 | ||||||||||
Accounts payable and accrued expenses | 4,963 | 5,645 | 9,049 | 9,900 | ||||||||||
Deferred revenue | (30) | 1,154 | 117 | 737 | ||||||||||
Other | - | 5 | - | - | ||||||||||
Net cash used in operating activities | (9,320) | (9,104) | (32,349) | (37,130) | ||||||||||
Cash Flows From Investing Activities: | ||||||||||||||
Acquisitions, net of cash acquired | - | - | - | (48,101) | ||||||||||
Investment in joint venture | (39) | - | (39) | (190) | ||||||||||
Purchase of property and equipment | (24) | (11) | (2,109) | (730) | ||||||||||
Proceeds from disposal of property and equipment | 138 | - | 138 | - | ||||||||||
Purchase of short-term investments | - | (151) | (135) | (729) | ||||||||||
Proceeds from sales of short-term investments | - | 10,000 | 20,532 | 258,377 | ||||||||||
Purchase of held-to-maturity investments | - | (87,376) | (265,835) | (227,287) | ||||||||||
Proceeds from maturities of held-to-maturity investments | - | 78,000 | 264,537 | 98,000 | ||||||||||
Net cash provided by investing activities | 75 | 462 | 17,089 | 79,340 | ||||||||||
Cash Flows From Financing Activities: | ||||||||||||||
Proceeds from the exercise of common stock options | 7 | 6 | 70 | 87 | ||||||||||
Taxes paid related to net share settlement of equity awards | (30) | (6) | (146) | (1,171) | ||||||||||
Net cash used in financing activities | (23) | - | (76) | (1,084) | ||||||||||
Effect of foreign exchange rate changes on cash balances | 15 | 81 | (66) | 72 | ||||||||||
Net (decrease) increase in cash and cash equivalents and restricted cash | (9,253) | (8,561) | (15,402) | 41,198 | ||||||||||
Cash and cash equivalents and restricted cash - beginning | 38,274 | 52,984 | 44,423 | 3,225 | ||||||||||
Cash and cash equivalents and restricted cash - ending | $ | 29,021 | $ | 44,423 | $ | 29,021 | $ | 44,423 | ||||||
Reconciliation to consolidated balance sheets | ||||||||||||||
Cash and cash equivalents | $ | 27,873 | $ | 41,338 | $ | 27,873 | $ | 41,338 | ||||||
Restricted cash | 1,148 | 3,085 | 1,148 | 3,085 | ||||||||||
Total | $ | 29,021 | $ | 44,423 | $ | 29,021 | $ | 44,423 | ||||||
Q4 2023 Investor Update | 9
Key Metrics and Non-GAAP Financial Information
BLADE AIR MOBILITY, INC.
DISAGGREGATED REVENUE BY PRODUCT LINE
(in thousands, unaudited)
Three Months Ended | Year Ended December 31, | |||||||||
December 31, | ||||||||||
2023 | 2022 | 2023 | 2022 | |||||||
Passenger segment | ||||||||||
Short Distance | $ | 10,703 | $ | 9,418 | $ | 70,700 | $ | 44,986 | ||
Jet and Other | 4,784 | 7,081 | 27,876 | 29,355 | ||||||
Total | $ | 15,487 | $ | 16,499 | $ | 98,576 | $ | 74,341 | ||
Medical segment | ||||||||||
MediMobility Organ Transport | $ | 31,991 | $ | 21,636 | 126,604 | 71,779 | ||||
Total | $ | 31,991 | $ | 21,636 | $ | 126,604 | $ | 71,779 | ||
Total Revenue | $ | 47,478 | $ | 38,135 | $ | 225,180 | $ | 146,120 | ||
BLADE AIR MOBILITY, INC.
SEGMENT INFORMATION: REVENUE, FLIGHT PROFIT, FLIGHT MARGIN, ADJUSTED EBITDA WITH RECONCILIATION TO TOTAL ADJUSTED
EBITDA | |||||||||||||
(in thousands except percentages, unaudited) | |||||||||||||
Three Months Ended | Year Ended December 31, | ||||||||||||
December 31, | |||||||||||||
2023 | 2022 | 2023 | 2022 | ||||||||||
Passenger | $ | 15,487 | $ | 16,499 | $ | 98,576 | $ | 74,341 | |||||
Medical | 31,991 | 21,636 | 126,604 | 71,779 | |||||||||
Total Revenue | $ | 47,478 | $ | 38,135 | $ | 225,180 | $ | 146,120 | |||||
Passenger | $ | 2,580 | $ | 1,886 | $ | 19,444 | $ | 11,295 | |||||
Medical | 6,430 | 3,553 | 22,678 | 11,592 | |||||||||
Total Flight Profit | $ | 9,010 | $ | 5,439 | $ | 42,122 | $ | 22,887 | |||||
Passenger | 16.7 % | 11.4 % | 19.7 % | 15.2 % | |||||||||
Medical | 20.1 % | 16.4 % | 17.9 % | 16.1 % | |||||||||
Total Flight Margin | 19.0 % | 14.3 % | 18.7 % | 15.7 % | |||||||||
Passenger | $ | (2,635) | $ | (3,769) | $ | (4,988) | $ | (6,367) | |||||
Medical | 2,505 | 1,587 | 10,754 | 5,116 | |||||||||
Total Segment Adjusted EBITDA | (130) | (2,182) | 5,766 | (1,251) | |||||||||
Adjusted unallocated corporate expenses and software development | (5,118) | (5,773) | (22,399) | (26,200) | |||||||||
Total Adjusted EBITDA | $ | (5,248) | $ | (7,955) | $ | (16,633) | $ | (27,451) | |||||
Q4 2023 Investor Update | 10
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Blade Air Mobility Inc. published this content on 12 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 March 2024 14:06:54 UTC.