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)
March 31,
2023
December 31,
2022
Revenue
$
Cost of revenue(1)
45,271 $
(38,107)
Non-cash timing of ROU asset amortization
Flight Profit
$
Flight Margin
7,164 $
15.8%
38,135 $
(33,160)
464
5,439 $
14.3%
September
30, 2022
45,722 $
(36,456)
148
9,414 $
20.6%
June 30,
2022
March 31,
2022
December 31,
2021
35,633 $
(30,522)
26,630 $
(23,707)
24,618 $
(20,677)
Three Months Ended
September
30, 2021
20,316
(15,855)
June 30,
2021
March 31,
2021
December 31,
2020
$
12,951 $
(9,976)
9,273
(7,797)
$
7,986 $
(6,367)
September
30, 2020
8,319 $
(6,715)
June 30,
2020
March 31,
2020
3,438 $
(2,814)
6,454
(5,872)
5,111 $
14.3%
2,923
11.0%
$
3.941 $
16.0%
4,461
22.0%
$
2,975 $
23.0%
1,476
$
1,619
$
15.9%
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
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