Watching SURF AIR MOBILITY INC.? See every signal: funding, hires, M&A, contracts, sentiment.
Book a demoChoose your planSURF AIR MOBILITY INC.
www.surfair.comAI Executive Summary
AI-powered analysis of 10-Q filing content
Surf Air Mobility continues to post significant losses ($48.4M net loss for H1 2026) with a persistent shareholders' deficit of $(42.5)M, though slightly improved from $(54.9)M at year-end 2025. The company disclosed multiple material weaknesses in internal controls over financial reporting, and its liability structure shows increasing near-term debt burden with current maturities of long-term debt rising sharply from $2.7M to $12.6M. Revenue growth was modest while cost of revenue grew faster than revenue, further compressing already negative margins.
Red Flags Detected (10)
Disclosure controls and procedures deemed NOT effective as of June 30, 2026 due to material weaknesses
Multiple material weaknesses in internal control over financial reporting, including insufficient segregation of duties and inadequate accounting resources
Ineffective controls over non-routine transactions including stock-based compensation, revenue recognition, and debt/equity financing
7 more red flags detected
Key Takeaways
Company remains unprofitable with widening operating losses ($32.2M H1 2026 vs $34.5M H1 2025 operating loss, though slightly improved)
Net loss per share improved due to substantial share dilution (119.1M vs 73.1M shares outstanding)
3 more takeaways
Filing Overview
What This Means
High Risk Filing: This company is showing signs of financial stress or significant operational challenges.
Deteriorating Trend: Conditions are worsening compared to previous filings. This may create opportunities for service providers.
Quarterly Report: Interim filing with unaudited financial data for the quarter.