Blade Air Mobility, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Segment and Geographic Information (Tables)

Segment and Geographic Information (Tables)

6 Months Ended

Jun. 30, 2024

Schedule of Certain Financial Data by Reportable Segment

The following tables reflect certain financial data of the Company’s reportable segments:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023


Segment revenue
Passenger	$	29,604	$	26,590	$	45,092	$	45,094
Medical	38,341		34,399		74,367		61,166
Total revenue	$	67,945	$	60,989	$	119,459	$	106,260









Segment Adjusted EBITDA
Passenger	$	782	$	(2,075)	$	(1,869)	$	(5,130)
Medical	5,524		3,023		9,933		4,903
Adjusted unallocated corporate expenses and software development (1)	(5,348)		(5,396)		(10,652)		(11,945)
Total Adjusted EBITDA	958		(4,448)		(2,588)		(12,172)
Reconciling items:
Depreciation and amortization	(1,559)		(1,810)		(3,153)		(3,462)
Stock-based compensation	(5,546)		(2,797)		(10,089)		(6,018)
Change in fair value of warrant liabilities	(913)		(2,462)		2,565		(1,896)
Realized loss from sales of short-term investments	—		(14)		—		(95)
Interest income	1,788		2,077		3,860		4,031
Legal and regulatory advocacy fees (2)(3)	(139)		—		(262)		(423)
Executive severance costs	—		(119)		—		(265)
SOX readiness costs	(82)		(35)		(82)		(35)
Contingent consideration compensation (earn-out) (4)	—		(3,000)		—		(2,661)
M&A transaction costs	(22)		—		(84)		—
Impairment of intangible assets	(5,759)		—		(5,759)		—

Loss before income taxes	$	(11,274)	$	(12,608)	$	(15,592)	$	(22,996)

(1) Includes costs that are not directly attributable to reportable segments such as finance, accounting, tax, information technology, human resources, legal costs and software development costs (primarily consists of staff and contractors costs), and excludes non-cash items and certain transactions that management does not believe are reflective of our ongoing core operations.

(2) For the three and six months ended June 30, 2024, represents legal advocacy fees related to the Drulias lawsuit (see “— Legal and Environmental” within Note 9) 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.

(3) For the six months ended June 30, 2023, represents certain legal and regulatory advocacy fees for certain proposed restrictions at East Hampton Airport and potential operational restrictions on large jet aircraft at Westchester Airport, 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.

(4) Trinity’s contingent consideration, 2023 was the last year subject to an earn-out payment.







	June 30, 2024		December 31, 2023
Goodwill
Passenger	$	26,246	$	27,045
Medical	13,328		13,328
Total goodwill	$	39,574	$	40,373

Summary of Financial Data Attributable to Various Geographic Regions

Summary financial data attributable to various geographic regions for the periods indicated is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023


Revenue
United States	$	58,000	$	51,991	$	103,301	$	89,990


Other	9,945		8,998		16,158		16,270
Total revenue	$	67,945	$	60,989	$	119,459	$	106,260

					June 30, 2024		December 31, 2023
Long-lived assets
United States					$	28,957	$	13,727
Other					14,259		12,656
Total long-lived assets					$	43,216	$	26,383