Investor Presentaiton
Use Of Non-GAAP Information
Adjusted EBITDA - To supplement its consolidated financial statements, which are prepared and presented in accordance with U.S. generally accepted accounting principles
("GAAP"), 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).
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 believes that these non-GAAP measures, viewed in addition to and not in lieu of our reported 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 and Flight Profit have been reconciled to the nearest GAAP measure in the tables within this presentation.
"
BLADE
BLADE AIR MOBILITY, INC.
RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA
(in thousands except percentages, unaudited)
Three Months Ended September 30,
2023
2022
Net income (loss)
Depreciation and amortization
Stock-based compensation
$
289 $
(9,245)
1,843
1,441
3.330
1.685
Change in fair value of warrant liabilities.
(5,719)
(425)
Realized loss from sales of short-term investments
359
Interest income, net
(2,147)
(1,173)
Income tax expense (benefit)
129
56
Legal and regulatory advocacy fees (1)
217
143
Executive severance costs
SOX readiness costs
145
Contingent consideration compensation (earn-out) (2)
2,700
Short term incentive plan costs recorded in Q3 but related to prior
quarters
1.250
M&A transaction costs
Adjusted EBITDA
1.361
$
787
S
(4,548)
Adjusted EBITDA as a percentage of Revenue
1.1 %
(9.9)%
42
42View entire presentation