Transition report pursuant to Rule 13a-10 or 15d-10

Summary of Significant Accounting Policies (Tables)

v3.22.0.1
Summary of Significant Accounting Policies (Tables)
3 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
Rollforward of Contract Liability Balance The table below presents a roll forward of the contract liability balance:
Three Months Ended
December 31,
2021 2020
Balance, beginning of period $ 4,654  $ 3,973 
Additions 18,003  7,943 
Revenue recognized (16,681) (7,498)
Balance, end of period $ 5,976  $ 4,418 
Disaggregated Revenue by Product Line
Disaggregated revenue by product line was as follows:

Three Months Ended
December 31,
2021 2020
Product Line(1):
Short Distance
$ 6,193  $ 2,130 
MediMobility Organ Transport and Jet
18,038  5,524 
Other
387  332 
Total Revenue
$ 24,618  $ 7,986 
__________
(1) Prior period amounts have been updated to conform to current period presentation.
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.

Three Months Ended
December 31,
2021 2020
Basic income (loss) per common share:
Net income (loss) attributable to Blade Air Mobility, Inc. $ 772  $ (2,361)
Less: Undistributed earnings (loss) allocated to nonvested restricted stockholders (17) — 
Basic net earnings (loss) available to common stockholders 755  (2,361)
Add: Undistributed earnings (loss) allocated to nonvested restricted stockholders 17  — 
Less: Reallocation of undistributed earnings (loss) to nonvested restricted stockholders (15) — 
Diluted net earnings (loss) available to common stockholders $ 757  $ (2,361)
Total weighted-average basic common shares outstanding 69,759,411  25,285,053 
Effect of dilutive securities:
Stock options 7,925,482  — 
Total effect of dilutive securities 7,925,482  — 
Total weighted-average diluted common shares outstanding 77,684,893  25,285,053 
Net earnings (loss) per common share:
Basic earnings (loss) per common share $ 0.01  $ (0.09)
Diluted earnings (loss) per common share $ 0.01  $ (0.09)
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.

December 31,
2021 2020
Warrants to purchase shares of common stock
14,166,666  — 
Options to purchase shares of common stock
—  9,749,290 
Restricted shares of common stock
30,328  — 
Total potentially dilutive securities
14,196,994  9,749,290 
Schedule of Property and Equipment
Useful Life
(in years)
December 31, 2021 September 30, 2021
Furniture and fixtures
5
$ 520  $ 497 
Technology equipment
3
351  282 
Leasehold improvements Shorter of useful life or life of lease 2,512  2,380 
Vehicles
5
239  239 
Total property and equipment, gross 3,622  3,398 
Less: Accumulated depreciation and amortization (1,577) (1,440)
Total property and equipment, net $ 2,045  $ 1,958