Skip to main content

Blade Air Mobility Reports Financial Results for the Quarter and Calendar Year Ended December 31, 2021

  • Quarter ended December 31, 2021 revenues up 208% to $24.6 million versus the prior year 2020 period and 371% higher versus pre-COVID quarter ended December 31, 2019; Short Distance revenues up 85% versus pre-COVID 2019 period
  • Calendar year ending December 31, 2021 revenues of $67.2 million up 156% versus calendar year 2020 and up 106% versus pre-COVID calendar year 2019
  • Calendar year 2021 total fliers increased 215% versus calendar year 2020, in-line with pre-COVID calendar year 2019

Blade Air Mobility, Inc. (Nasdaq:BLDE, “Blade” or the “Company”), a technology-powered air mobility platform, today announced financial results for the quarter and calendar year ended December 31, 2021. Commencing January 1, 2022, the Company’s fiscal years will end on December 31st and the Company's fiscal quarters will match calendar quarters.

“Blade's growth in both the quarter and calendar year 2021, which had revenue up 156% to $67.2 million, significantly exceeded our expectations,” said Rob Wiesenthal, Blade’s Chief Executive Officer. "Our ability to accelerate revenue and flight profit growth in the face of a dynamic COVID landscape is a testament to the financial breadth of our business lines and the flexibility of our asset-light model. We are especially pleased that our passenger volumes for the calendar year 2021 reached 2019 pre-COVID levels with substantially improved flight profit."

“The December 2021 quarter did not experience a material impact from Omicron, though we have seen a limited impact to our Blade Airport and Vancouver businesses in the March 2022 quarter-to-date,” said Will Heyburn, Blade’s Chief Financial Officer. "We are already seeing significant improvement and do not expect a material negative impact to revenues in the current March 2022 quarter. Given positive trends including today's elimination of the New York mask mandate, increased return-to-office as well as growing commercial airline bookings, we expect any impact to be short-lived."

“Our successful acquisition strategy has brought additional scale and resiliency to our business model, strengthening the Blade value proposition with our third-party operators,” said Melissa Tomkiel, Blade's President. "The combined volumes of our growing retail and medical businesses is already leading to improved aircraft availability and pricing, paving the way for continued expansion.”

Quarter Ended December 31, 2021 Financial Highlights

  • Total revenues up 208% to $24.6 million in the quarter ended December 31, 2021 versus $8.0 million in the prior year 2020 period; up 371% versus pre-COVID 2019 period revenues of $5.2 million
  • Short Distance revenues up 191% to $6.2 million in the December 2021 quarter versus $2.1 million in the prior year 2020 period, driven primarily by hybrid remote-office work policies, which extended the typical season of our commuter business, as well as the resumption of our Blade Airport service, which was paused due to COVID in 2020 and our acquisition of Helijet's passenger routes
  • MediMobility Organ Transport and Jet revenues increased 227% to $18.0 million in the December 2021 quarter versus $5.5 million in the prior year 2020 period driven by the addition of new hospital and jet clients and our acquisition of Trinity Air Medical ("Trinity")
  • Flight margin decreased to 16% in the December 2021 quarter versus 20% in the prior year 2020 period, driven primarily by our resumption of Blade Airport service, which, as expected during the ramp phase, was operating below breakeven utilization in the period. Absent Blade Airport, flight margin would have been approximately 18% in the December 2021 quarter
  • Flight margin increased to 16% in the December 2021 quarter versus (11)% in the pre-COVID 2019 period driven by improved utilization on Blade Airport and a larger flight margin contribution from our MediMobility Organ Transport and Jet businesses, driven by revenue growth from $1.9 million in 2019 to $18.0 million in 2021
  • Net income increased to $0.8 million in the December 2021 quarter versus net loss of $2.4 million in the 2020 prior year period and net loss of $4.7 million in the 2019 period, driven primarily by increased revenues and the favorable change in fair value of warrant liabilities of $10.9 million, partially offset by non-cash stock-based compensation of $2.9 million, one-time expenses of $0.9 million, and lower flight margin attributable primarily to the recent re-launch of Blade Airport service, which, as expected during the ramp phase, was operating below breakeven utilization during the 2021 period, but was paused during the 2020 period
  • Adjusted EBITDA decreased to $(5.9) million in the December 2021 quarter from $(1.0) million in 2020 and $(4.6) million in 2019. The decrease versus 2020 was attributable primarily to additional headcount and new recurring expenses related to Blade’s status as a public company, consisting of incremental D&O insurance of $1.6 million and other fees paid to public company advisors and auditors of $0.6 million
  • Excluding the new recurring public company expenses above, Comparable Adjusted EBITDA of $(3.7) million in the December 2021 quarter decreased versus $(1.0) million in the prior year 2020 period, driven primarily by increased corporate headcount, but improved from $(4.6) million in the pre-COVID 2019 period

Business Highlights and Recent Updates

  • On February 1, 2022, the Board of Directors of Blade acted to change the Company’s fiscal year from ending on September 30th to ending on December 31st. As a result, the three-months ended December 31, 2021 was a transition period and Blade’s financial results for the period from October 1, 2021 to December 31, 2021 will be filed on a Form 10-QT transition report. Blade’s current full fiscal year began on January 1, 2022 and will end on December 31, 2022. The Company’s fiscal quarters in 2022 will match calendar quarters.
  • Successful integration of Blade MediMobility and Trinity resulted in multiple new hospital clients across the United States and expansion within existing accounts
  • There was no material impact from Omicron in the December 2021 quarter. In the March 2022 quarter-to-date, Omicron impact has been limited to Blade Airport and Vancouver. Annualized Blade Airport passenger run-rate dropped to a low of approximately 5,000 in early January, from approximately 20,000 in December and has since doubled to approximately 10,000. We expect recent positive trends, including the elimination of New York's mask mandate, increased office re-openings and growing passenger airline bookings to contribute to a continued near-term recovery

Conference Call

The Company will conduct a conference call starting at 4:30 p.m. ET on Thursday, February 10, 2022 to review the results for the three months and calendar year ended December 31, 2021.

Participants may access the call at 1-877-451-6152, international callers may use 1-201-389-0879, and request to join the Blade Urban Air Mobility earnings call. A live webcast will also be available by visiting the Investor Relations section of the Company’s website at https://ir.blade.com/news-events.

A telephonic replay will be available shortly after the conclusion of the call and until February 24, 2022. Participants may access the replay at 1-844-512-2921, international callers may use 1-412-317-6671, and enter access code 13726792. An archived replay of the call will also be available on the Investors Relations section of the Company’s website at https://ir.blade.com/.

Use of Non-GAAP Financial Information

Adjusted EBITDA - To supplement its consolidated financial statements, which are prepared and presented in accordance with U.S. generally accepted accounting principles (“GAAP”), Blade reports Adjusted EBITDA, which is a non-GAAP financial measure. This measure excludes non-cash items or certain transactions that are not indicative of ongoing Company operating performance and / or items that management does not believe are reflective of our ongoing core operations (as shown in the table below).

Comparable Adjusted EBITDA - To provide a like for like comparison of the current period (a “post going public” period) to “pre going public” periods, Blade reports Comparable Adjusted EBITDA, which is a non-GAAP financial measure. This measure excludes from the current period’s Adjusted EBITDA ongoing third-party costs driven by the Company becoming a public company, namely higher D&O insurance premiums and costs in connection with preparation of reviewed and audited periodical financial statements. Management believes Comparable Adjusted EBITDA provides meaningful supplemental information regarding our continuing operating performance by excluding from the current period the impact of these public company costs that did not affect prior periods. We expect to incur similar costs in future periods, and we do not anticipate presenting similarly adjusted measures once both the current period and the comparative prior period disclosed include these expenses.

Flight Profit and Flight Margin - Blade defines Flight Profit as revenue less cost of revenue. Blade defines Flight Margin for a period as Flight Profit for the period divided by revenue for the same period.

Blade believes that these non-GAAP measures, viewed in addition to and not in lieu of our reported GAAP results, provide useful information to investors by providing a more focused measure of operating results, enhance the overall understanding of past financial performance and future prospects, and allow for greater transparency with respect to key metrics used by management in its financial and operational decision making. The non-GAAP measures presented herein may not be comparable to similarly titled measures presented by other companies. Adjusted EBITDA and Comparable Adjusted EBITDA have been reconciled to the nearest GAAP measure in the tables within this press release.

BLADE AIR MOBILITY, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, unaudited)

 

 

For the Three Months Ended December 31,

 

For the Year Ended December 31,

 

 

2021

 

 

 

2020

 

 

 

2019

 

 

 

2021

 

 

 

2020

 

 

 

2019

 

Revenue

$

24,618

 

 

$

7,986

 

 

$

5,223

 

 

$

67,158

 

 

$

26,197

 

 

$

32,558

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue(1)

 

20,638

 

 

 

6,367

 

 

 

5,777

 

 

 

53,992

 

 

 

21,697

 

 

 

29,005

 

Software development

 

649

 

 

 

186

 

 

 

230

 

 

 

1,977

 

 

 

817

 

 

 

793

 

General and administrative(1)

 

12,330

 

 

 

3,366

 

 

 

2,988

 

 

 

38,886

 

 

 

9,670

 

 

 

11,469

 

Selling and marketing

 

1,537

 

 

 

435

 

 

 

1,032

 

 

 

4,564

 

 

 

1,936

 

 

 

5,104

 

Total operating expenses

 

35,154

 

 

 

10,354

 

 

 

10,027

 

 

 

99,419

 

 

 

34,120

 

 

 

46,371

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from operations

 

(10,536

)

 

 

(2,368

)

 

 

(4,804

)

 

 

(32,261

)

 

 

(7,923

)

 

 

(13,813

)

 

 

 

 

 

 

 

 

 

 

 

 

Other non-operating income

 

 

 

 

 

 

 

 

 

 

 

Change in fair value of warrant liabilities

 

10,909

 

 

 

 

 

 

 

 

 

(7,422

)

 

 

 

 

 

 

Recapitalization costs attributable to warrant liabilities

 

 

 

 

 

 

 

 

 

 

(1,731

)

 

 

 

 

 

 

Interest income, net

 

290

 

 

 

7

 

 

 

91

 

 

 

743

 

 

 

115

 

 

 

629

 

Total other non-operating income

 

11,199

 

 

 

7

 

 

 

91

 

 

 

(8,410

)

 

 

115

 

 

 

629

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) before income taxes

 

663

 

 

 

(2,361

)

 

 

(4,713

)

 

 

(40,671

)

 

 

(7,808

)

 

 

(13,184

)

 

 

 

 

 

 

 

 

 

 

 

 

Income tax benefit

 

(109

)

 

 

 

 

 

 

 

 

(3,752

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

$

772

 

 

$

(2,361

)

 

$

(4,713

)

 

$

(36,919

)

 

$

(7,808

)

 

$

(13,184

)

__________

(1) Prior period amounts have been updated to conform to current period presentation.

 

BLADE AIR MOBILITY, INC.

DISAGGREGATED REVENUE BY PRODUCT LINE

(in thousands, unaudited)

 

 

For the Three Months Ended December 31,

 

For the Year Ended December 31,

Product Line(1):

2021

 

2020

 

2019

 

2021

 

2020

 

2019

Short Distance

$

6,193

 

$

2,130

 

$

3,351

 

$

26,316

 

$

8,245

 

$

26,662

MediMobility Organ Transport and Jet

 

18,038

 

 

5,524

 

 

1,865

 

 

38,860

 

 

17,135

 

 

5,817

Other

 

387

 

 

332

 

 

7

 

 

1,982

 

 

817

 

 

79

Total Revenue

$

24,618

 

$

7,986

 

$

5,223

 

$

67,158

 

$

26,197

 

$

32,558

__________

(1) Prior period amounts have been updated to conform to current period presentation.

 

BLADE AIR MOBILITY, INC.

RECONCILIATION OF REVENUE LESS COST OF REVENUE TO FLIGHT PROFIT

($ in thousands, unaudited)

 

 

For the Three Months Ended December 31,

 

For the Year Ended December 31,

 

 

2021

 

 

 

2020

 

 

 

2019

 

 

 

2021

 

 

 

2020

 

 

 

2019

 

Revenue

$

24,618

 

 

$

7,986

 

 

$

5,223

 

 

$

67,158

 

 

$

26,197

 

 

$

32,558

 

Cost of revenue(1)

 

20,638

 

 

 

6,367

 

 

 

5,777

 

 

 

53,992

 

 

 

21,697

 

 

 

29,005

 

Flight Profit

$

3,980

 

 

$

1,619

 

 

$

(554

)

 

$

13,166

 

 

$

4,500

 

 

$

3,553

 

Flight Margin

 

16

%

 

 

20

%

 

 

(11

) %

 

 

20

%

 

 

17

%

 

 

11

%

__________

(1) Cost of revenue consists principally of flight costs paid to operators of aircraft and landing fees. Prior period amounts have been updated to conform to current period presentation.

 

BLADE AIR MOBILITY, INC.

RECONCILIATION OF NET INCOME (LOSS) TO ADJUSTED EBITDA

AND COMPARABLE ADJUSTED EBITDA

(in thousands, unaudited)

 

 

For the Three Months Ended December 31,

 

For the Year Ended December 31,

 

 

2021

 

 

 

2020

 

 

 

2019

 

 

 

2021

 

 

 

2020

 

 

 

2019

 

Net Income (Loss)

$

772

 

 

$

(2,361

)

 

$

(4,713

)

 

$

(36,919

)

 

$

(7,808

)

 

$

(13,184

)

 

 

 

 

 

 

 

 

 

 

 

 

Income tax benefit

 

(109

)

 

 

 

 

 

 

 

 

(3,752

)

 

 

 

 

 

 

Stock-based compensation

 

2,931

 

 

 

1,275

 

 

 

91

 

 

 

11,277

 

 

 

1,674

 

 

 

342

 

Depreciation and amortization

 

717

 

 

 

139

 

 

 

134

 

 

 

1,174

 

 

 

531

 

 

 

500

 

Interest income, net

 

(290

)

 

 

(7

)

 

 

(91

)

 

 

(743

)

 

 

(115

)

 

 

(629

)

Change in fair value of warrant liabilities

 

(10,909

)

 

 

 

 

 

 

 

 

7,422

 

 

 

 

 

 

 

Recapitalization costs attributable to warrant liabilities

 

 

 

 

 

 

 

 

 

 

1,731

 

 

 

 

 

 

 

Consulting costs related to initial public listing

 

163

 

 

 

 

 

 

 

 

 

3,618

 

 

 

 

 

 

 

Offering documents expenses

 

 

 

 

 

 

 

 

 

 

626

 

 

 

 

 

 

 

Recruiting fees related to initial public listing

 

203

 

 

 

 

 

 

 

 

 

536

 

 

 

 

 

 

 

M&A transaction costs

 

453

 

 

 

 

 

 

 

 

 

1,043

 

 

 

 

 

 

 

Settlement and related charges

 

130

 

 

 

 

 

 

 

 

 

130

 

 

 

 

 

 

 

Adjusted EBITDA

 

(5,939

)

 

 

(954

)

 

 

(4,579

)

 

 

(13,857

)

 

 

(5,718

)

 

 

(12,971

)

 

 

 

 

 

 

 

 

 

 

 

 

Post going public incremental D&O Insurance

 

1,608

 

 

 

 

 

 

 

 

 

4,330

 

 

 

 

 

 

 

Post going public professional services in connection with the preparation of periodical financial statements

 

599

 

 

 

 

 

 

 

 

 

2,045

 

 

 

 

 

 

 

Post going public registration fees

 

31

 

 

 

 

 

 

 

 

 

74

 

 

 

 

 

 

 

Comparable Adjusted EBITDA

$

(3,701

)

 

$

(954

)

 

$

(4,579

)

 

$

(7,408

)

 

$

(5,718

)

 

$

(12,971

)

 

 

 

 

 

 

 

 

 

 

 

 

BLADE AIR MOBILITY, INC.

CONSOLIDATED BALANCE SHEETS

(in thousands, except share data, unaudited)

 

 

December 31, 2021

 

September 30, 2021

Assets

 

 

 

Current assets:

 

 

 

Cash and cash equivalents

$

2,595

 

 

$

6,952

 

Restricted cash

 

630

 

 

 

630

 

Accounts receivable

 

5,548

 

 

 

3,765

 

Short-term investments (cost: December 31, 2021 - $280,263; September 30, 2021 - $297,472)

 

279,374

 

 

 

297,175

 

Prepaid expenses and other current assets

 

6,798

 

 

 

5,925

 

Total current assets

 

294,945

 

 

 

314,447

 

 

 

 

 

Non-current assets:

 

 

 

Property and equipment, net

 

2,045

 

 

 

1,958

 

Investment in joint venture

 

200

 

 

 

200

 

Intangible assets, net

 

24,421

 

 

 

12,644

 

Goodwill

 

13,328

 

 

 

13,271

 

Operating right-of-use asset

 

713

 

 

 

654

 

Other non-current assets

 

232

 

 

 

220

 

Total assets

$

335,884

 

 

$

343,394

 

 

 

 

 

Liabilities and Stockholders' Equity

 

 

 

Current liabilities:

 

 

 

Accounts payable and accrued expenses

$

6,369

 

 

$

4,446

 

Deferred revenue

 

5,976

 

 

 

4,654

 

Operating lease liability, current

 

438

 

 

 

431

 

Total current liabilities

 

12,783

 

 

 

9,531

 

 

 

 

 

Non-current liabilities:

 

 

 

Warrant liability

 

31,308

 

 

 

42,217

 

Operating lease liability, long-term

 

278

 

 

 

222

 

Deferred tax liability

 

144

 

 

 

195

 

Total liabilities

 

44,513

 

 

 

52,165

 

 

 

 

 

Stockholders' Equity

 

 

 

Preferred stock, $0.0001 par value, 2,000,000 shares authorized at December 31, 2021 and September 30, 2021. No shares issued and outstanding at December 31, 2021 and September 30, 2021.

 

 

 

 

 

Common stock, $0.0001 par value; 400,000,000 authorized; 70,667,381 and 70,096,401 shares issued at December 31, 2021 and September 30, 2021, respectively.

 

7

 

 

 

7

 

Additional paid in capital

 

368,680

 

 

 

368,709

 

Accumulated other comprehensive loss

 

(898

)

 

 

(297

)

Accumulated deficit

 

(76,418

)

 

 

(77,190

)

Total stockholders' equity

 

291,371

 

 

 

291,229

 

 

 

 

 

Total Liabilities and Stockholders' Equity

$

335,884

 

 

$

343,394

 

 

BLADE AIR MOBILITY, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands, unaudited)

 

 

Three Months Ended December 31,

 

 

2021

 

 

 

2020

 

 

 

2019

 

Cash Flows From Operating Activities:

 

 

 

 

 

Net income (loss)

$

772

 

 

$

(2,361

)

 

$

(4,713

)

Adjustments to reconcile net income (loss) to net cash and restricted cash used in operating activities:

 

 

 

 

 

Depreciation and amortization

 

717

 

 

 

139

 

 

 

134

 

Stock-based compensation

 

2,931

 

 

 

1,275

 

 

 

91

 

Change in fair value of warrant liabilities

 

(10,909

)

 

 

 

 

 

 

Deferred tax benefit

 

(108

)

 

 

 

 

 

 

Changes in operating assets and liabilities:

 

 

 

 

 

Prepaid expenses and other current assets

 

(873

)

 

 

(375

)

 

 

(237

)

Accounts receivable

 

(1,783

)

 

 

(453

)

 

 

(8

)

Other non-current assets

 

(12

)

 

 

(3

)

 

 

32

 

Operating lease assets/liabilities

 

4

 

 

 

(32

)

 

 

(26

)

Accounts payable and accrued expenses

 

1,923

 

 

 

1,363

 

 

 

(676

)

Deferred revenue

 

1,322

 

 

 

445

 

 

 

833

 

Net cash used in operating activities

 

(6,016

)

 

 

(2

)

 

 

(4,570

)

 

 

 

 

 

 

Cash Flows From Investing Activities:

 

 

 

 

 

Purchase of exclusive rights to Helijet’s scheduled passenger routes in Canada

 

(12,357

)

 

 

 

 

 

 

Purchase of domain name

 

 

 

 

(503

)

 

 

 

Purchase of property and equipment

 

(224

)

 

 

(33

)

 

 

(358

)

Proceeds from sales of short-term investments

 

17,209

 

 

 

 

 

 

 

Net cash provided by (used in) investing activities

 

4,628

 

 

 

(536

)

 

 

(358

)

 

 

 

 

 

 

Cash Flows From Financing Activities:

 

 

 

 

 

Proceeds from the exercise of stock options

 

161

 

 

 

2

 

 

 

5

 

Taxes paid related to net share settlement of equity awards

 

(3,121

)

 

 

 

 

 

 

Deferred recapitalization costs related to the merger

 

 

 

 

(1,403

)

 

 

 

Net cash provided by (used in) financing activities

 

(2,960

)

 

 

(1,401

)

 

 

5

 

Effect of foreign exchange rate changes on cash balances

 

(9

)

 

 

 

 

 

 

Net decrease in cash and cash equivalents and restricted cash

 

(4,357

)

 

 

(1,939

)

 

 

(4,923

)

Cash and cash equivalents and restricted cash - beginning

 

7,582

 

 

 

12,276

 

 

 

22,291

 

Cash and cash equivalents and restricted cash - ending

$

3,225

 

 

$

10,337

 

 

$

17,368

 

 

 

 

 

 

 

Reconciliation to the unaudited interim condensed consolidated balance sheets

 

 

 

 

 

Cash and cash equivalents

$

2,595

 

 

$

10,216

 

 

$

17,245

 

Restricted cash

 

630

 

 

 

121

 

 

 

123

 

Total

$

3,225

 

 

$

10,337

 

 

$

17,368

 

 

 

 

 

 

 

Non-cash investing and financing activities

 

 

 

 

 

Adoption of new leases under ASC 842 entered into during the period

$

208

 

 

$

 

 

$

767

 

 

BLADE AIR MOBILITY, INC.

SEATS FLOWN - ALL PASSENGER FLIGHTS

(unaudited)

 

 

For the Three Months Ended December 31,

 

For the Year Ended December 31,

 

2021

 

2020

 

2019

 

2021

 

2020

 

2019

Seats flown – all passenger flights(1)

13,676

 

2,393

 

6,909

 

35,799

 

11,369

 

35,955

__________

(1) Prior period amounts have been updated to conform to current period presentation.

 

About Blade Air Mobility

Blade is a technology-powered, global air mobility platform committed to reducing travel friction by providing cost-effective air transportation alternatives to some of the most congested ground routes in the U.S. and abroad. Today, the Company predominantly uses helicopters and amphibious aircraft for its passenger routes and is also one of the largest air medical transporters of human organs for transplant in the world. Its asset-light model, coupled with its exclusive passenger terminal infrastructure, is designed to facilitate a seamless transition to Electric Vertical Aircraft (“EVA” or “eVTOL”), enabling lower cost air mobility to the public that is both quiet and emission-free.

For more information, visit www.blade.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts and may be identified by the use of words such as “anticipate,” “believe,” “could,” “continue,” “expect,” “estimate,” “may,” “plan,” “outlook,” “future” and “project” and other similar expressions and the negatives of those terms. These statements, which involve risks and uncertainties, relate to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable and may also relate to Blade’s future prospects, developments and business strategies. In particular, such forward-looking statements include statements concerning Blade’s estimated and future results of operations, business strategies, competitive position, industry environment and potential growth opportunities. These statements are based on management’s current expectations and beliefs, as well as a number of assumptions concerning future events. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance.

Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Blade’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements include: loss of our customers; decreases in our existing market share; effects of competition; effects of pricing pressure; the inability of our customers to pay for our services; the loss of our existing relationships with operators; the loss of key members of our management team; changes in our regulatory environment, including aviation law and FAA regulations; the inability to implement information systems or expand our workforce; changes in our industry; heightened enforcement activity by government agencies; interruptions or security breaches of our information technology systems; the expansion of privacy and security laws; our ability to expand our infrastructure network; our ability to identify, complete and successfully integrate future acquisitions; our ability to remediate any material weaknesses or maintain effective internal controls over financial reporting; the ability to continue to meet applicable listing standards; costs related to our business combination; the possibility that we may be adversely affected by other political, economic, business and/or competitive factors; the impact of COVID-19 and its related effects on our results of operations, financial performance or other financial metrics; the inability or unavailability to use or take advantage of the shift, or lack thereof, to EVA technology; pending or potential litigation; and other factors beyond our control. Additional factors can be found in our Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (“SEC”). New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, and Blade undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, changes in expectations, future events or otherwise.

Contacts

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.