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SRFM

Updated: Mar 12, 2026 11:30 AM

Surf Air Mobility Inc.

Market Cap: $164.38M P/S: 6x Ownership — Insider: 21.4% | Institutional: 11.9% | Retail: 66.8% INDUSTRIALS AIRLINES

None

Revenue

Revenue, Profit & Income — explained by Jerry the Goat Farmer
Total RevenueEvery single dollar that wanders onto Jerry's farm. Cheese sales, milk money, goat yoga memberships, and that one weird guy who pays $50 to just watch the goats. Jerry doesn't ask questions.
Gross ProfitThe money left after feeding the goats but before reality sets in. Jerry feels rich for exactly 11 minutes.
Net IncomeWhat Jerry actually gets to keep after the Jerrynment, cousin Larry, the feed store, and his ex-wife's lawyer all take their cut. This number is often... humbling.
Using alias: revenuea -> totalRevenue [annual] [income]
Using alias: profita -> grossProfit [annual] [income]
Using alias: incomea -> netIncome [annual] [income]


Data Completeness:
------------------------------------------------------------
  ✅ totalRevenue                        5/5 dates (100%)
  ✅ grossProfit                         5/5 dates (100%)
  ✅ netIncome                           5/5 dates (100%)

Plot for SRFM (in M)
  reports: annualReports
  showing last 25 entries
  Legend: totalRevenue, grossProfit, netIncome

               -250.70M                  -125.35M                    0.00M                    125.35M                   250.70M
               |                         |                         |                         |                         |

  2020-12-31 |                                                █████|█  -23.44M
  2021-12-31 |                                              ███████|█  -35.78M
  2022-12-31 |                                      ███████████████|███  -74.36M
  2023-12-31 | ████████████████████████████████████████████████████|████████████  -250.70M
  2024-12-31 |                                     ████████████████|████████████████████████  119.42M

               |                         |                         |                         |                         |
               -250.70M                  -125.35M                    0.00M                    125.35M                   250.70M

Costs

Operating Costs — explained by Jerry the Goat Farmer
Cost of Goods & Services SoldThe unglamorous stuff: hay, feed, vet bills for when Sergio the goat eats another iPhone. These goats don't feed themselves, and they definitely don't apologize.
Selling, General & AdministrativeThe "CHEESE HAPPENS" billboard on the highway, the accountant (cousin Larry, who definitely cheated in Monopoly as a kid), office supplies, and the therapy Jerry needs after dealing with cousin Larry.
Research & DevelopmentJerry's experimental ghost pepper goat cheese that made three customers cry. Also the goat treadmill. The goats refuse to use the goat treadmill.
Using alias: rnda -> researchAndDevelopment [annual] [income]
Using alias: sgaa -> sellingGeneralAndAdministrative [annual] [income]
Using alias: cogsa -> costofGoodsAndServicesSold [annual] [income]


Data Completeness:
------------------------------------------------------------
  ✅ researchAndDevelopment              5/5 dates (100%)
  ✅ sellingGeneralAndAdministrative     5/5 dates (100%)
  ✅ costofGoodsAndServicesSold          5/5 dates (100%)

Plot for SRFM (in M)
  reports: annualReports
  showing last 25 entries
  Legend: researchAndDevelopment, sellingGeneralAndAdministrative, costofGoodsAndServicesSold

               0.00M                    27.48M                    54.97M                    82.45M                    109.93M
               |                         |                         |                         |                         |

  2020-12-31 | █████████████ 13.49M
  2021-12-31 | ██████████████████████ 22.86M
  2022-12-31 | ███████████████████████████████████ 36.82M
  2023-12-31 | ███████████████████████████████████████████████████████████████████████████████████████████████ 100.67M
  2024-12-31 | ████████████████████████████████████████████████████████████████████████████████████████████████████████ 109.93M

               |                         |                         |                         |                         |
               0.00M                    27.48M                    54.97M                    82.45M                    109.93M

Cash

Cash, Debt & Cash Flow — explained by Jerry the Goat Farmer
Cash & Short-Term InvestmentsThe coffee can buried behind the barn, $47 in a savings account, and some cryptocurrency Jerry bought drunk in 2021. He's afraid to check on it.
Short/Long-Term DebtThe barn loan that'll follow Jerry to the grave (long-term) and the $200 he owes the feed store guy who's starting to give him looks (short-term).
Operating Cash FlowReal cash moving in and out. Not "my customer promised to pay me" money. Actual dollars. Jerry has trust issues now.
Using alias: casha -> cashAndShortTermInvestments [annual] [balance]
Using alias: debta -> shortLongTermDebtTotal [annual] [balance]
Using alias: paychecka -> operatingCashflow [annual] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ cashAndShortTermInvestments         5/5 dates (100%)
  ✅ shortLongTermDebtTotal              5/5 dates (100%)
  ✅ operatingCashflow                   5/5 dates (100%)

Plot for SRFM (in M)
  reports: annualReports
  showing last 25 entries
  Legend: cashAndShortTermInvestments, shortLongTermDebtTotal, operatingCashflow

               -92.49M                   -46.24M                    0.00M                    46.24M                    92.49M
               |                         |                         |                         |                         |

  2020-12-31 |                                                █████|██████████  20.39M
  2021-12-31 |                                        █████████████|████████████  -23.93M
  2022-12-31 |                                     ████████████████|████████████████  30.25M
  2023-12-31 |                 ████████████████████████████████████|██████████████████████████  -64.37M
  2024-12-31 |                      ███████████████████████████████|███████████████████████████████████████████████████ 92.49M

               |                         |                         |                         |                         |
               -92.49M                   -46.24M                    0.00M                    46.24M                    92.49M

FCF

Free Cash Flow — explained by Jerry the Goat Farmer
Operating Cash FlowReal cash moving in and out. Not "my customer promised to pay me" money. Actual dollars. Jerry has trust issues now.
Capital ExpendituresBig, expensive purchases Jerry justifies at 2am: the industrial milking machine, new fencing, and a hot tub "for the goats" that somehow only Jerry uses.
Using alias: paychecka -> operatingCashflow [annual] [cashflow]
Using alias: capexa -> capitalExpenditures [annual] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ operatingCashflow                   5/5 dates (100%)
  ✅ capitalExpenditures                 5/5 dates (100%)

Plot for SRFM (in M)
  reports: annualReports
  showing last 25 entries
  Legend: operatingCashflow, capitalExpenditures

               -64.37M                   -32.19M                    0.00M                    32.19M                    64.37M
               |                         |                         |                         |                         |

  2020-12-31 |                                              ███████|  -8.73M
  2021-12-31 |                                  ███████████████████|  -23.93M
  2022-12-31 |                              ███████████████████████|  -28.04M
  2023-12-31 | ████████████████████████████████████████████████████|█████  -64.37M
  2024-12-31 |         ████████████████████████████████████████████|██████████  -54.32M

               |                         |                         |                         |                         |
               -64.37M                   -32.19M                    0.00M                    32.19M                    64.37M

Assets

Assets, Liabilities & Equity — explained by Jerry the Goat Farmer
🐐 Assets = Liabilities + Equity

Translation: What Jerry owns = What Jerry owes + What's actually Jerry's

Or as Jerry mutters every April during tax season:
"Everything I have equals everything I owe plus whatever scraps are left for me, a humble goat man just trying to make cheese in this cruel world."
Total AssetsEverything Jerry owns: 12 acres of land, a barn that's "rustic" (rotting), 47 goats, Sergio (appraised at $800, priceless to Jerry), the cheese cave, and a 2004 Ford F-150 held together by duct tape and prayer.
Total LiabilitiesEverything Jerry owes: bank loans, the feed store tab, back taxes, and a moral debt to his neighbor for "borrowing" that tractor in 2019. They both know he's not returning it.
Total Shareholder EquityIf Jerry sold absolutely everything, paid off every debt, and finally returned that tractor... this is what he'd have left. His actual net worth. Some days it's a retirement fund. Other days it's "enough for a bus ticket and a fresh start."
Using alias: assetsa -> totalAssets [annual] [balance]
Using alias: liabila -> totalLiabilities [annual] [balance]
Using alias: equitya -> totalShareholderEquity [annual] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ totalAssets                         5/5 dates (100%)
  ✅ totalLiabilities                    5/5 dates (100%)
  ✅ totalShareholderEquity              5/5 dates (100%)

Plot for SRFM (in M)
  reports: annualReports
  showing last 25 entries
  Legend: totalAssets, totalLiabilities, totalShareholderEquity

               -244.06M                  -122.03M                    0.00M                    122.03M                   244.06M
               |                         |                         |                         |                         |

  2020-12-31 |                       ██████████████████████████████|████████████████████████████████  153.25M
  2021-12-31 |                █████████████████████████████████████|█████████████████████████████████████  180.58M
  2022-12-31 |      ███████████████████████████████████████████████|█████████████████████████████████████████████████  235.79M
  2023-12-31 |                                    █████████████████|███████████████████████████████████████  188.47M
  2024-12-31 |                           ██████████████████████████|███████████████████████████████████████████████████ 244.06M

               |                         |                         |                         |                         |
               -244.06M                  -122.03M                    0.00M                    122.03M                   244.06M

Buffet

Using alias: incomea -> netIncome [annual] [income]
Using alias: debta -> shortLongTermDebtTotal [annual] [balance]
Using alias: equitya -> totalShareholderEquity [annual] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ netIncome                           5/5 dates (100%)
  ✅ shortLongTermDebtTotal              5/5 dates (100%)
  ✅ totalShareholderEquity              5/5 dates (100%)

Plot for SRFM (in M)
  reports: annualReports
  showing last 25 entries
  Legend: netIncome, shortLongTermDebtTotal, totalShareholderEquity

               -250.70M                  -125.35M                    0.00M                    125.35M                   250.70M
               |                         |                         |                         |                         |

  2020-12-31 |                        █████████████████████████████|███  -141.54M
  2021-12-31 |                 ████████████████████████████████████|████  -173.03M
  2022-12-31 |       ██████████████████████████████████████████████|█████  -222.09M
  2023-12-31 | ████████████████████████████████████████████████████|█████████  -250.70M
  2024-12-31 |                            █████████████████████████|██████████████████  -120.00M

               |                         |                         |                         |                         |
               -250.70M                  -125.35M                    0.00M                    125.35M                   250.70M

Revenue-q

Using alias: revenue -> totalRevenue [quarterly] [income]
Using alias: profit -> grossProfit [quarterly] [income]
Using alias: income -> netIncome [quarterly] [income]


Data Completeness:
------------------------------------------------------------
  ✅ totalRevenue                        15/15 dates (100%)
  ✅ grossProfit                         15/15 dates (100%)
  ✅ netIncome                           15/15 dates (100%)

Plot for SRFM (in M)
  reports: quarterlyReports
  showing last 25 entries
  Legend: totalRevenue, grossProfit, netIncome

               -110.99M                   -55.50M                    0.00M                    55.50M                    110.99M
               |                         |                         |                         |                         |

  2022-03-31 |                                                █████|█  -10.65M
  2022-06-30 |                                            █████████|█  -18.75M
  2022-09-30 |                                           ██████████|█  -21.14M
  2022-12-31 |                     ████████████████████████████████|███████████████████████████████████████  86.24M
  2023-03-31 |                                           ██████████|██  -20.57M
  2023-06-30 |                                █████████████████████|██  -44.52M
  2023-09-30 |                  ███████████████████████████████████|█████████  -74.61M
  2023-12-31 | ████████████████████████████████████████████████████|████████████  -110.99M
  2024-03-31 |                                    █████████████████|█████████████  -36.97M
  2024-06-30 |                                        █████████████|██████████████  32.37M
  2024-09-30 |                                               ██████|████████████  28.39M
  2024-12-31 |                                                    █|████████████  28.05M
  2025-03-31 |                                            █████████|██████████  23.51M
  2025-06-30 |                                        █████████████|████████████  -28.00M
  2025-09-30 |                                        █████████████|█████████████  29.17M

               |                         |                         |                         |                         |
               -110.99M                   -55.50M                    0.00M                    55.50M                    110.99M

Costs-q

Using alias: rnd -> researchAndDevelopment [quarterly] [income]
Using alias: sga -> sellingGeneralAndAdministrative [quarterly] [income]
Using alias: cogs -> costofGoodsAndServicesSold [quarterly] [income]


Data Completeness:
------------------------------------------------------------
  ✅ researchAndDevelopment              15/15 dates (100%)
  ✅ sellingGeneralAndAdministrative     15/15 dates (100%)
  ✅ costofGoodsAndServicesSold          15/15 dates (100%)

Plot for SRFM (in M)
  reports: quarterlyReports
  showing last 25 entries
  Legend: researchAndDevelopment, sellingGeneralAndAdministrative, costofGoodsAndServicesSold

               0.00M                    19.04M                    38.08M                    57.12M                    76.17M
               |                         |                         |                         |                         |

  2022-03-31 | ████████████ 8.60M
  2022-06-30 | █████████████ 9.48M
  2022-09-30 | ██████████ 7.61M
  2022-12-31 | ████████████████████████████████████████████████████████████████████████████████████████████████████████ 76.17M
  2023-03-31 | ████████████ 8.44M
  2023-06-30 | █████████████ 9.30M
  2023-09-30 | ████████████████████████████████████████████████████████████████████████████ 55.62M
  2023-12-31 | ██████████████████████████████████████ 27.61M
  2024-03-31 | ██████████████████████████████████████████ 30.47M
  2024-06-30 | █████████████████████████████████████████ 29.79M
  2024-09-30 | ██████████████████████████████████████ 27.50M
  2024-12-31 | ███████████████████████████████████████ 28.40M
  2025-03-31 | ██████████████████████████████████ 24.71M
  2025-06-30 | █████████████████████████████████ 24.06M
  2025-09-30 | ██████████████████████████████████████ 27.66M

               |                         |                         |                         |                         |
               0.00M                    19.04M                    38.08M                    57.12M                    76.17M

Cash-q

Using alias: cash -> cashAndShortTermInvestments [quarterly] [balance]
Using alias: debt -> shortLongTermDebtTotal [quarterly] [balance]
Using alias: paycheck -> operatingCashflow [quarterly] [cashflow]


Data Completeness:
------------------------------------------------------------
  ⚠️  cashAndShortTermInvestments         14/16 dates (88%)
  ⚠️  shortLongTermDebtTotal              14/16 dates (88%)
  ✅ operatingCashflow                   15/15 dates (100%)

Plot for SRFM (in M)
  reports: quarterlyReports
  showing last 25 entries
  Legend: cashAndShortTermInvestments, shortLongTermDebtTotal, operatingCashflow

               -105.10M                   -52.55M                    0.00M                    52.55M                    105.10M
               |                         |                         |                         |                         |

  2021-12-31 |                                                     |███████████  23.47M ⊗
  2022-03-31 |                                                  ███| -5.88M ⊗⊗
  2022-06-30 |                                                █████|████████████████████████████████████████████████  98.69M
  2022-09-30 |                                                  ███| -6.91M ⊗⊗
  2022-12-31 |                                                  ███|██████████████  30.25M
  2023-03-31 |                                                 ████|██████████████████████████████████████████████  95.91M
  2023-06-30 |                                               ██████|███████████████████████████████████████████████████ 105.10M
  2023-09-30 |                                         ████████████|███████████████████████  49.01M
  2023-12-31 |                                           ██████████|██████████████████████  47.45M
  2024-03-31 |                                               ██████|██████████████████████  46.93M
  2024-06-30 |                                                  ███|████████████████████  42.84M
  2024-09-30 |                                               ██████|█████████████████████  44.57M
  2024-12-31 |                                         ████████████|█████████████████████████████████████████████  92.49M
  2025-03-31 |                                             ████████|████████████████████████████████████████████  91.13M
  2025-06-30 |                                                █████|████████████████████████████████████████████  90.66M
  2025-09-30 |                                           ██████████|███████████  23.62M

               |                         |                         |                         |                         |
               -105.10M                   -52.55M                    0.00M                    52.55M                    105.10M

FCF-q

Using alias: paycheck -> operatingCashflow [quarterly] [cashflow]
Using alias: capex -> capitalExpenditures [quarterly] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ operatingCashflow                   15/15 dates (100%)
  ✅ capitalExpenditures                 15/15 dates (100%)

Plot for SRFM (in M)
  reports: quarterlyReports
  showing last 25 entries
  Legend: operatingCashflow, capitalExpenditures

               -24.45M                   -12.23M                    0.00M                    12.23M                    24.45M
               |                         |                         |                         |                         |

  2022-03-31 |                                         ████████████|  -5.88M
  2022-06-30 |                                 ████████████████████|  -9.58M
  2022-09-30 |                                      ███████████████|  -6.91M
  2022-12-31 |                                         ████████████|  -5.67M
  2023-03-31 |                                  ███████████████████|  -9.02M
  2023-06-30 |                            █████████████████████████|  -11.60M
  2023-09-30 | ████████████████████████████████████████████████████|███████████████████████  -24.45M
  2023-12-31 |            █████████████████████████████████████████|████████  -19.30M
  2024-03-31 |                          ███████████████████████████|█  -12.81M
  2024-06-30 |                                         ████████████|███  -5.62M
  2024-09-30 |                           ██████████████████████████|███  -12.31M
  2024-12-31 |   ██████████████████████████████████████████████████|██████████████████  -23.58M
  2025-03-31 |                   ██████████████████████████████████|███  -15.80M
  2025-06-30 |                              ███████████████████████|███  -10.64M
  2025-09-30 |            █████████████████████████████████████████|███  -19.34M

               |                         |                         |                         |                         |
               -24.45M                   -12.23M                    0.00M                    12.23M                    24.45M

Assets-q

Using alias: assets -> totalAssets [quarterly] [balance]
Using alias: liabil -> totalLiabilities [quarterly] [balance]
Using alias: equity -> totalShareholderEquity [quarterly] [balance]


Data Completeness:
------------------------------------------------------------
  ⚠️  totalAssets                         14/16 dates (88%)
  ⚠️  totalLiabilities                    14/16 dates (88%)
  ⚠️  totalShareholderEquity              14/16 dates (88%)

Plot for SRFM (in M)
  reports: quarterlyReports
  showing last 25 entries
  Legend: totalAssets, totalLiabilities, totalShareholderEquity

               -339.47M                  -169.74M                    0.00M                    169.74M                   339.47M
               |                         |                         |                         |                         |

  2021-12-31 |                          ███████████████████████████|███████████████████████████  180.58M
  2022-06-30 |                                                     |██████████████████████████████████████████  280.34M
  2022-12-31 |                   ██████████████████████████████████|███████████████████████████████████  235.79M
  2023-03-31 |                                                     |███████████████████████████████████████████████████ 339.47M
  2023-06-30 |                               ██████████████████████|████████████████████████  160.45M
  2023-09-30 |                                                     |███████████████████████████  185.47M
  2023-12-31 |                                         ████████████|████████████████████████████  188.47M
  2024-03-31 |                                     ████████████████|████████████████████████████████  215.09M
  2024-06-30 |                                 ████████████████████|███████████████████████████████████  233.64M
  2024-09-30 |                                █████████████████████|███████████████████████████████████  233.49M
  2024-12-31 |                                   ██████████████████|████████████████████████████████████  244.06M
  2025-03-31 |                                █████████████████████|████████████████████████████████████  240.91M
  2025-06-30 |                                   ██████████████████|████████████████████████████████████  244.47M
  2025-09-30 |                                       ██████████████|██████████████████████████████  199.34M

               |                         |                         |                         |                         |
               -339.47M                  -169.74M                    0.00M                    169.74M                   339.47M

Buffet-q

Using alias: income -> netIncome [quarterly] [income]
Using alias: debt -> shortLongTermDebtTotal [quarterly] [balance]
Using alias: equity -> totalShareholderEquity [quarterly] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ netIncome                           15/15 dates (100%)
  ⚠️  shortLongTermDebtTotal              14/16 dates (88%)
  ⚠️  totalShareholderEquity              14/16 dates (88%)

Plot for SRFM (in M)
  reports: quarterlyReports
  showing last 25 entries
  Legend: netIncome, shortLongTermDebtTotal, totalShareholderEquity

               -222.09M                  -111.04M                    0.00M                    111.04M                   222.09M
               |                         |                         |                         |                         |

  2021-12-31 |            █████████████████████████████████████████|████  -173.03M ⊗
  2022-03-31 |                                                   ██| -10.65M ⊗⊗
  2022-06-30 |                                                 ████|███████████████████████████████████████████  189.95M
  2022-09-30 |                                                █████| -21.14M ⊗⊗
  2022-12-31 | ████████████████████████████████████████████████████|██████  -222.09M
  2023-03-31 |                                                █████|███████████████████████████████████████████████  205.50M
  2023-06-30 |                   ██████████████████████████████████|████████████████████████  -145.67M
  2023-09-30 |                                    █████████████████|██████████  -74.61M
  2023-12-31 |                           ██████████████████████████|██████████  -110.99M
  2024-03-31 |                            █████████████████████████|██████████  -106.30M
  2024-06-30 |                       ██████████████████████████████|█████████  -128.09M
  2024-09-30 |                     ████████████████████████████████|█████████  -135.61M
  2024-12-31 |                         ████████████████████████████|█████████████████████  -120.00M
  2025-03-31 |                     ████████████████████████████████|████████████████████  -135.64M
  2025-06-30 |                          ███████████████████████████|████████████████████  -115.48M
  2025-09-30 |                               ██████████████████████|█████  -92.56M

               |                         |                         |                         |                         |
               -222.09M                  -111.04M                    0.00M                    111.04M                   222.09M

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