Investor Presentaiton
Use Of Non-GAAP Information (Continued)
Flight Profit and Flight Margin Blade defines Flight Profit as revenue less cost of revenue. Cost of revenue consists of flight costs paid to operators of aircraft and cars, landing
fees, right-of-use ("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 AIR MOBILITY, INC.
RECONCILIATION OF REVENUE LESS COST OF REVENUE TO FLIGHT PROFIT
($ in thousands, unaudited)
September 30,
2023
June 30,
2023
March 31,
2023
December 31, September 30,
2022
2022
June 30,
2022
March 31,
2022
Three Months Ended
December 31,
2021
September 30,
2021
June 30,
2021
March 31,
2021
December 31,
2020
September 30,
2020
June 30,
2020
March 31,
2020
Revenue
$
Cost of revenue (1)
71,442 $
55,863
60,989 $
(50,620)
45,271 $
(38,107)
38,135 $
(33,160)
Non-cash timing of ROU asset amortization
Flight Profit
464
45,722 $
(36,456)
148
35,633
(30,522)
$
26,630 $
(23,707)
24,618 $
(20,677)
20,316 $
(15,855)
12,951
(9,976)
$
9,273 $
(7,797)
7,986
(6,367)
$
8,319
(6,715)
$
3,438 $
(2,814)
6,454
(5,872)
S
Flight Margin
15,579
21.8%
$
10,369
17.0%
$
7,164 $
15.8%
5,439
14.3%
$
9,414 $
20.6%
5,111 $
14.3%
2,923
11.0%
$
3,941
16.0%
$
4,461 $
22.0%
2,975
23.0%
$
1,476
$
15.9%
1,619 $
20.3%
1,604 $
19.3%
624
18.2%
$
582
9.0%
(1) Cost of revenue consists of flight costs paid to operators of aircraft and cars, landing fees and internal costs incurred in generating ground transportation revenue using the Company's owned cars. Prior period amounts have been updated to conform to
current period presentation.
"
BLADE
43View entire presentation