Summary of Significant Accounting Policies (Tables)
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3 Months Ended |
Dec. 31, 2021 |
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| Accounting Policies [Abstract] |
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| Rollforward of Contract Liability Balance |
The table below presents a roll forward of the contract liability balance:
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Three Months Ended
December 31, |
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2021 |
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2020 |
| Balance, beginning of period |
$ |
4,654 |
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$ |
3,973 |
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| Additions |
18,003 |
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7,943 |
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| Revenue recognized |
(16,681) |
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(7,498) |
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| Balance, end of period |
$ |
5,976 |
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$ |
4,418 |
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| Disaggregated Revenue by Product Line |
Disaggregated revenue by product line was as follows:
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Three Months Ended
December 31, |
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2021 |
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2020 |
| Product Line(1): |
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Short Distance |
$ |
6,193 |
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$ |
2,130 |
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MediMobility Organ Transport and Jet |
18,038 |
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5,524 |
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Other |
387 |
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332 |
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Total Revenue |
$ |
24,618 |
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$ |
7,986 |
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__________ (1) Prior period amounts have been updated to conform to current period presentation.
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| Reconciliation of Net Income and Common Stock Use in the Computation of Basic and Diluted Earnings Per Share |
A reconciliation of net income and common stock share amounts used in the computation of basic and diluted earnings per share is presented below.
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Three Months Ended
December 31, |
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2021 |
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2020 |
| Basic income (loss) per common share: |
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| Net income (loss) attributable to Blade Air Mobility, Inc. |
$ |
772 |
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$ |
(2,361) |
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| Less: Undistributed earnings (loss) allocated to nonvested restricted stockholders |
(17) |
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— |
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| Basic net earnings (loss) available to common stockholders |
755 |
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(2,361) |
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| Add: Undistributed earnings (loss) allocated to nonvested restricted stockholders |
17 |
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— |
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| Less: Reallocation of undistributed earnings (loss) to nonvested restricted stockholders |
(15) |
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— |
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| Diluted net earnings (loss) available to common stockholders |
$ |
757 |
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$ |
(2,361) |
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| Total weighted-average basic common shares outstanding |
69,759,411 |
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25,285,053 |
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| Effect of dilutive securities: |
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| Stock options |
7,925,482 |
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— |
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| Total effect of dilutive securities |
7,925,482 |
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— |
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| Total weighted-average diluted common shares outstanding |
77,684,893 |
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25,285,053 |
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| Net earnings (loss) per common share: |
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| Basic earnings (loss) per common share |
$ |
0.01 |
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$ |
(0.09) |
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| Diluted earnings (loss) per common share |
$ |
0.01 |
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$ |
(0.09) |
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| Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share |
The following table represents common stock equivalents that were excluded from the computation of diluted earnings per share for the three months ended December 31, 2021 and 2020, because the effect of their inclusion would be anti-dilutive.
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December 31, |
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2021 |
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2020 |
Warrants to purchase shares of common stock |
14,166,666 |
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— |
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Options to purchase shares of common stock |
— |
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9,749,290 |
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Restricted shares of common stock |
30,328 |
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— |
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Total potentially dilutive securities |
14,196,994 |
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9,749,290 |
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| Schedule of Property and Equipment |
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Useful Life
(in years)
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December 31, 2021 |
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September 30, 2021 |
Furniture and fixtures |
5 |
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$ |
520 |
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$ |
497 |
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Technology equipment |
3 |
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351 |
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282 |
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| Leasehold improvements |
Shorter of useful life or life of lease |
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2,512 |
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2,380 |
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| Vehicles |
5 |
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239 |
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239 |
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| Total property and equipment, gross |
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3,622 |
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3,398 |
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| Less: Accumulated depreciation and amortization |
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(1,577) |
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(1,440) |
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| Total property and equipment, net |
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$ |
2,045 |
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$ |
1,958 |
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