Investor Presentaiton
Use Of Non-GAAP Information (Continued)
We operate our business as two reportable segments - Passenger and Medical.
Segment Flight Profit and Flight Margin - Flight Profit is calculated as revenue less cost of revenue excluding non-cash timing of ROU asset amortization. Cost of revenue consists
of flight costs paid to operators or aircraft and cars, landing fees and internal costs incurred in generating organ ground transportation revenue using the Company's owned cars.
Flight Margin is calculated as Flight Profit divided by revenue. Flight Profit and Flight Margin are measures that management uses to assess the performance of the business. 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.
Adjusted Unallocated Corporate Expenses - Blade defines Adjusted Unallocated Corporate Expenses as segment net loss 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.
"
BLADE
BLADE AIR MOBILITY, INC.
SEGMENT INFORMATION: REVENUE, FLIGHT PROFIT, FLIGHT MARGIN, ADJUSTED EBITDA WITH RECONCILIATION TO TOTAL ADJUSTED EBITDA
($ in thousands except percentages, unaudited)
Passenger
September 30,
2023
June 30,
2023
March 31,
2023
Three Months Ended
December 31,
September 30,
2022
2022
June 30,
2022
March 31,
2022
$
37,995 $
33,447
$
71,442 $
26,590 $
34,399
60,989 $
18,504
26,767
45,271 $
$
16,499 $
21,636
38,135 $
25,503 $
20,219
45,722 $
18,384 $
17,249
35,633 $
13,955
12,675
26,630
Passenger
$
9,410 $
Medical
6,169
4,642
5,727
$
2,812 $
1,885 $
4,352
3,554
Total Flight Profit (1)
$
15,579 $
10,369
7,164 $
5,439
$
6,094 $
3,172
9,266
2,478 $
689
2,633
2,234
$
5,111 $
2,923
Medical
Total Revenue
Passenger
Medical
Total Flight Margin
Passenger
Medical
Total Segment Adjusted EBITDA
Adjusted unallocated corporate expenses and software development
Total Adjusted EBITDA (2)
24.8%
17.5%
15.2%
11.4%
23.9%
13.5%
4.9%
18.4%
16.6%
16.3%
16.4%
15.7%
15.3%
17.6%
21.8%
17.0%
15.8%
14.3%
20.3%
14.3%
11.0%
$
2,777 $
(2,075) $
(3,055) $
(3,770) $
1,472
$
(1,085) $
(2,609)
3,346
3,023
1,880
1,588
1,495
1,113
951
6,123
948
(1,175)
(2,182)
2,967
28
(1,658)
(5,336)
$
787 $
(5,396)
(4,448) $
(6,549)
(7,724) $
(5,773)
(7,515)
(6,147)
(6,069)
(7,955) $
(4,548) $
(7,727)
(6,119) $
(1) Please note that full year reported Flight Profit was $22,887 vs. $22,739 as shown in the tables above. This is due to timing adjustments relating to the non-cash timing of ROU asset amortization for a $0.148
million impact.
(2) Please note that full year reported Adjusted EBITDA for 2022 was ($27,451) vs. ($26,349) as shown in the tables above. This is due to timing adjustments relating to the the short-term incentive plan and non-cash
timing of ROU asset amortization for a $1.102 million net impact.
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