Investor Presentaiton
Use Of Non-GAAP Information (Continued)
We operate our business as two reportable segments - Passenger and Medical.
Adjusted EBITDA and Segment Adjusted EBITDA - 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). Blade defines Segment Adjusted EBITDA as segment net income (loss) excluding non-cash items or certain transactions that management does not
believe are reflective of our ongoing core operations. Adjusted Unallocated Corporate Expenses has the same meaning as Segment Adjusted EBITDA for our Corporate expenses
and software development operating segment and is reconciled in the tables below under the caption "Reconciliation of Segment Net Income (loss) to Segment Adjusted EBITDA."
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BLADE
BLADE AIR MOBILITY, INC.
RECONCILIATION OF SEGMENT NET INCOME (LOSS) TO SEGMENT ADJUSTED EBITDA
(in thousands, unaudited)
Passenger
Medical
Three Months Ended December 31, 2022
Unallocated Corporate
expenses and software
development
$
(5,772) $
(5,144) $
(4,499)
Segment net income (loss)
Reconciling items:
Depreciation and amortization
Stock-based compensation
Change in fair value of warrant liabilities
Realized loss from sales of short-term investments
Interest income, net
Income tax expense (benefit)
1.447
364
173
271
79
2,300
(1,984)
91
(1,542)
(828)
Legal and regulatory advocacy fees (1)
(180)
Executive severance costs
269
Contingent consideration compensation (earn-out) (2)
6.289
Non-cash timing of ROU asset amortization
464
M&A transaction costs
Segment Adjusted EBITDA
$
(3,770) $
1,588 $
247
(5,773)
(1) Represents certain legal and regulatory advocacy fees for matters that we do not consider representative of legal and
regulatory advocacy costs that we will incur from time to time in the ordinary course of our business.
(2) Represents contingent consideration compensation in connection with the Trinity acquisition calculated based on 2022
performance.
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