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)

3 Months Ended

Mar. 31, 2024

Schedule of Certain Financial Data by Reportable Segment

The following table reflects certain financial data of the Company’s reportable segments:


	Three Months Ended March 31,
		2024		2023


Segment revenue
Passenger		$	15,488	$	18,504
Medical		36,026		26,767
Total revenue		$	51,514	$	45,271









Segment Adjusted EBITDA
Passenger		$	(2,651)	$	(3,055)
Medical		4,409		1,880
Adjusted unallocated corporate expenses and software development (1)		(5,304)		(6,549)
Total Adjusted EBITDA		(3,546)		(7,724)
Reconciling items:
Depreciation and amortization		(1,594)		(1,652)
Stock-based compensation		(4,543)		(3,221)
Change in fair value of warrant liabilities		3,478		566
Realized (gain) loss from sales of short-term investments		—		(81)
Interest income, net		2,072		1,954
Legal and regulatory advocacy fees (2)(3)		(123)		(423)
Executive severance costs		—		(146)

Contingent consideration compensation (earn-out) (4)		—		339
M&A transaction costs		(62)		—


Loss before income taxes		$	(4,318)	$	(10,388)

(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 months ended March 31, 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 three months ended March 31, 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) Represents the credit recorded in connection with the settlement of the equity-based portion of Trinity’s contingent consideration that was paid in the first quarter of 2023 in respect of 2022 results. 2023 was the last year subject to an earn-out payment.







	March 31, 2024		December 31, 2023
Goodwill
Passenger	$	26,449	$	27,045
Medical	13,328		13,328
Total goodwill	$	39,777	$	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 March 31,
		2024		2023


Revenue
United States		$	45,301	$	37,999


Other		6,213		7,272
Total revenue		$	51,514	$	45,271

		March 31, 2024		December 31, 2023
Long-lived assets
United States		$	14,150	$	13,727
Other		13,894		12,656
Total long-lived assets		$	28,044	$	26,383