Blade Air Mobility Inc. (NASDAQ:BLDE) shares are trading higher on Thursday after the company reported better-than-expected fourth-quarter 2024 results.
The company reported fourth-quarter revenue growth of 14.5% year-over-year to $54.357 million, beating the consensus of $51.13 million.
Revenue growth was driven by growth in the Passenger and Medical segments. Excluding Canada, which exited in August 2024, revenue increased 22.1% year over year.
“While we continue to drive further cost efficiencies in our Passenger business, we remain laser focused on maximizing growth in Urban Air Mobility products such as our New York City airport transfer service, which saw high-teens year-over-year revenue expansion in Q4. Services like Blade Airport are key to accelerating and de-risking our planned shift from helicopters to eVTOL,” …