Q3 2023 Financial Highlights
How Blade Creates Value via M&A: Trinity Air Medical Case Study
Since acquiring Trinity, Blade has significantly accelerated growth in the business, enhancing returns for shareholders
•
Blade acquired Trinity in September 2021 for $23mm
Quarterly Revenue ($ in millions)
•
Trinity's trailing twelve-month revenue prior to
acquisition were approximately $17.8mm(1), and had
grown at an approximate 29% compound annual
growth rate since 2019
$40
$35
Post-acquisition, Trinity was able to leverage Blade's
brand, aircraft operator network, and technology-
enabled logistics and customer service, to accelerate
organic growth and materially increase the size of its
customer base
In the trailing twelve-months ended June 30, 2023,
the combined Blade / Trinity Medical segment
generated $103.0mm in revenue, approximately 6x
Trinity's trailing twelve-month revenue prior to
acquisition
$30
$25
$20
$15
$10
$5
Actual combined
Blade + Trinity
MediMobility Organ
Transport revenues
Illustrative Blade + Trinity
revenues assuming
historical Trinity revenue
growth rate (2)
Trinity standalone pre-acquisition revenues
$0
Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23.
Note: Definition of all non-GAAP numbers and reconciliation to GAAP numbers are provided in the Appendix of this presentation
Trinity's trailing twelve months ended June 30, 2021 revenues were $17.8 million; a non-GAAP reconciliation is provided in the Appendix of this presentation
Estimated based on Trinity's historical pre-acquisition compound annual revenue growth rate of -29% from 2019-2021
1.
2.
BLADE
30
50View entire presentation