Blade Air Mobility First Quarter EarningsBlade Air Mobility, Inc., a provider of air transportation alternatives to congested ground routes, announced its first quarter results on May 10, 2022.

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Key points of the Blade Air Mobility First Quarter Earnings Report:

  • Revenue for the first quarter was $26.6 million, an increase of 187% year-over-year.
  • Gross margin was 11% compared to 16% in Q1 2021.
  • Net loss increased to $11 million versus a net loss of $4.2 million in the prior year period.
  • Cash and investments at the end of March was a little over $269 million.

During the quarter, the Airport segment saw its best week ever in March with a 25,000 flyer per year run rate. Additionally, the MediMobility Organ Transport segment has now added 14 new clients year-to-date. Blade also announced the formation of Blade Europe, which will be headquartered in Paris, France, to accelerate international growth of Blade’s urban air mobility network.

“In short, now that COVID…