Earnings call transcript Q4 2022

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good day, ladies and gentlemen, and welcome to the Blade Air Mobility Fiscal Fourth Quarter 2022 Earnings Release Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session, and instructions will follow at that time.

As a reminder, this call is being recorded.

I would now like to turn the conference call over to Mr. of President Vice Jani, Investor Relations. Ravi

begin. may You

Ravi Jani

We standing Thanks, to welcome webcast the XX, for us conference and afternoon. Thank for XXXX. December ended good by, quarter everyone the and joining today. and call you appreciate Blade Mobility Air

get conference like to to started, statements not facts, call company's that of of remind Statements language. about would within safe the Private the XXXX. Reform statements periods, forward-looking including deemed and are constitute statement harbor I may future made we you the of Before forward-looking on be Litigation time this historical meaning Securities Act

you are These our our including report those statements the future or more SEC results on and differ annual filed that with of discussion Form subject a forward-looking risk refer uncertainties, cause for expressed and factors forward-looking actual the could to to risks differences. detailed the SEC, implied filings, from materially by XX-K may We these statements.

this made provided forward-looking call this only date the conference of Any as of call. statements during are

in disclaims obligation revise any or update except intent forward-looking stated our Blade statements to required these by SEC as law. or As filings,

we call, which believe our discuss our non-GAAP release, to measures segment measures be measures provided Form certain will non-GAAP financial is we most evaluating reconciliation XX-K. and financial report in our on financial earnings consolidated useful measures, in of in A to financial GAAP also may performance. with the today's comparable During our directly annual those respect non-GAAP

or financial GAAP. in not our be with and as XX-K isolation on be measures Form will should our These Our investor in for accordance website. results substitute a presentation press release, prepared available considered non-GAAP

Officer and Founder Financial today's and Heyburn, Wiesenthal, Chief Rob Chief Hosting of are Blade; Executive Officer. Will call

I to will Wiesenthal. turn over the Rob? Rob call now

Rob Wiesenthal

earnings like quarter XXXX. I'd everyone. December ended morning, you our XX, to interest and for Good your thank to for Ravi. you, the call in Blade you welcome Thank fourth

of XXXX the quarter our the fourth XX% well million in was quarter expectations. increased $XX.X the once ahead to comparable in December period. again million in performance financial Our Revenue $XX.X versus

increased $XXX.X a record the year compared revenue $XX.X XXXX, For in full to XXX% XXXX. million to million

a versus highlight percentage was year. not building corporate by prior significantly the while These provided profit, a revenues cash only drive also of services decline platform. and to XXXX blocks record for leverage as the the us expenses are Importantly, will year generation, that to profitability our shared flight but key continued

laser revenue these Our both on enable of growth focus improvement profitable metrics. of the on pursuit should

pleased I also quarter rolling with the Blade and terms progress in in Airport, have and quarter this impressive to QX York our New from was of in of Turning yet highlights some Short Blade for our revenue. between travelers all by integrating Canada, our of just across am made five the airports and peak area season. European growth, acquisitions of passengers summer's which in driven the markets Europe forward Blade and delivered another European and out to key ahead Manhattan ramp brand acquisitions the Distance quarter. flies best Airport, we both minutes. look continued

highlighting transplant customer dedicated largest play expansion we delivered MediMobility with online Every air quarter, continued business outcomes. customers, Day", corporate titled the we role we important organizations procurement MediMobility supporting video new organ "Saving trends. February, patient organs and with Lives. awareness Organ in for for a in Transport out driven are transporter improving centers and another transplant campaign end by strong human fantastic of new television growth the in and and, existing the Today, market country, wins, rolled our

of prior XX% XX% corporate in of expenses across flight our XXXX a to prior quarter bring period, that year another will fourth in demonstrating which profit, declined versus hard this again, the strength to versus XX% percentage as revenue key of quarter metrics of period; adjusted All profitability. to year growth increased work us the while led in significant the

investor which and overlap Blade's jet to to transplant leverage he to it initiatives. we over together increased in in we growth since support our well in aviation air Partners addition institutional our strategic continued XXXX. our RedBird's with have organ across announced competencies mile Capital decades, In and both two mobility, been has X%. financial RedBird's been success, flights businesses. position and and RedBird had Gerry continued in its company progress ownership make that over an investor charter, Blade I core existing Cardinale last January, In portfolio, to to for founder, working Passenger other Medical hope

Additionally, for fans RedBird's European urban club, Milan solutions includes entertainment properties and sports mobility fits provide the and media natural attending Blade's nicely a AC air football our This to global footprint. sports which events. within large complement

supporters Lastly, towards aviation's technology. leading Aircraft, both RedBird EVA of transition are and Blade Electric or Vertical

also industry, a against At partners part effort commuter government EVA of part the we media, us its air commercial transportation ALIA-XXX at our BETA greater the able alike. propulsion investors, To offered all-electric customers for piloted sustainable safe, to reduction comparison the aircraft's City the level bring officials, powered dramatic and historic of conventional Technologies. system. witness local live ALIA, the the to this that that City aircraft, incredible Blade in partnership the with showcase and York by the quiet, decibel experience in February, in BETA to profile be in one-tenth by in and thank to our a an with all is The We crowd we livery, the take our noise conventional able helicopter area a highlighting market demonstration, to first moment an allowing community were technology were the end, sound to was as flight flight, as New EVA home with counterpart. York for demonstrated to flight, of in proud New

scale world always improving cash infrastructure continuing focused remain to best-in-class terminal our of fliers experience, providing air profitability to on using mobility around all aircraft, we Passenger for and fortify technology meantime, the business transition our flow. free towards conventional solutions EVA, and the that will In the while our

Given macro made navigate is the in we've our and have it to successfully environment technology, unprecedented a products an progress in and further our people, clear strengths that tremendous us on company. significant XXXX, enabled as investments build our

continued greatest tirelessly the an our transportation our financial availability continued fair seeing industry, both Passenger these results and Across of easy in fliers flexibility, share, we and and and our posture, level the market increased efforts best prices; Medical team strong the are worked of has organ businesses, deliver not to the however, and customers feat, our competitive performance. service in

With over turn to call that, I'll the Will.

Will Heyburn

Thank you, Rob.

growth Passenger highlights into just flight our quarter, the across quarter. during XXXX, our Before from the revenue across remarkable segments. details a flight growth I'll all from fourth grew by walk profit I a business and this profit full both business to highlight XX%, lines In that, by lines. With diving and year year the driven of few Medical wanted through

XXXX, passenger September closed December Blade service, our our routes relaunched closed XXXX In XXXX Airport were revenues comparable was in Short the and in Europe, June versus our on of driven XX% acquisition by Blade growth which Helijet's in which Distance, X, up fourth acquisition which the in of to million of Growth million $X.X period. $X.X quarter in X, XXXX. XXXX, on Vancouver,

seasonally cancellation A In enhanced quarter QX, returned the York New saw seats we comparable revenue growth XXXX slower from growth the lower saw same Airport strong few commuter continued of at than and QX products, highlights uptake we options is for encouraged our QX XXXX. quarter-to-date We've slightly passenger in Distance quarter quick fliers. XXXX are our pre-COVID to per of products. demand introduction sequential we levels. Short for York patterns. XXXX and in specific as New Airport revenues seat the business, from QX that travel see quarter In QX off-season another to last flexibility fourth of our are year, versus approximately and the fliers running double Though

improve, opportunity to to our to technology to flexibility, and the Canada, we XXXX. was new upbeat re-emergence continued improve and in QX our products expand acquisition, QX remain reaching business after and rolling country's out customer profitable on flier and performance pandemic, the in We operational look the breakeven experience. Canada deploying from during slower XXXX following forward

quarter ski demand. the seasonal by weighed an coupled additional poor in flight This, volumes XXXX-XXXX was performance season. impacted warm Europe unseasonably conditions on ski which continent, in winter lower cancellations flying versus the resulted record with in on the and Alps, the

is QX seasonality the from the quarter quarter Europe. seeing improvement perspective. reminder, seasonally for lowest As which is far in We're a in Europe QX, volume volume thus lowest second a already

Canada in quarter X% XXXX. for includes in The offset commuter and acquisitions both return softer in to organic adjust periods a Short resulting products more Airport, our in forma pre-COVID of currency. Distance ski demand year-over-year from season York revenue than fourth the in results growth Europe and in off-season for for Blade decline pro This New a and

Distance the for XXXX for with year The the business, eclipse fact record growth the should full Short a the that in versus what quarter, period. prior-year Distance year revenue performance seasonally quarter, not in is low a XX% revenue this was Short revenue

Trinity growth and growth of growth. that quarter Organ to new Revenue of September the last customers, quarter existing the million the in our acquisition given quarter of more Air fourth fourth driven organic, I Medical MediMobility XXXX quarter of million with addition than increased Turning completed the period. would clients, this of sequentially was with Revenue year, to all by now XXXX. comparable driven by X% overall of in half Transport. growth versus $X.X note XXX% addition the the XXXX was in remainder strong in increased to third of versus in market the $XX.X XXXX the of quarter's

In Jet XXXX in million $X.X fourth and of versus in $X.X the Other, prior-year XX% by the quarter to period. revenue million declined

of strong from the charter quarter increased price prior-year variant. fourth year, the decline in in XXXX charter offset demand a by Omicron average was by jet driven prior the benefited of emergence volume per the as Although the fourth the increase unprecedented the versus quarter flights, of COVID-XX

quarter and in continued first the Based we declines do and year-over-year what on pricing industry see across we jet board. data quarter-to-date, in seeing expect volume XXXX the of charter declining we're

business and core additional volumes flight for line our costs. generated though As strategy, generate fixed margin incremental not benefit charter limited the dollars sourcing medical our aircraft this by with is significant provide flight a a very to jet business reminder,

achieving in flexibility Jet we XX% pricing. the the expect margin our of volume and of irrespective flight around asset-light range, Other to model, Given continue and consistent

Europe amortization profit. cost flight was of Flight operator Flight $X.X revenue profit our revenue non-cash to million in the to which excludes to Turning to on profit versus This timing guarantee expensed to in in quarter million $X.X X, the the European X, which unique the current our XX% related prior-year increased of period. quarter. operator acquisitions, with and XXXX. acquisition impacts for the September contract only due negotiated European XXXX January non-cash closed our timing on our of partners, began item

the seasonal overall increase margin by-the-seat service fourth and margin but XXX% year-over-year XX% utilization now MediMobility Florida uncorrelated quarter and lower prior-year expected. of contracts, limited Transport company customer XX.X% demand versus period. to revenue period, represents of New average, Flight in environment. decline quarter fourth flight year-over-year prior-year growth the multi-year utilization XX% total include, our of Organ XXXX declined is marketing MediMobility in risk, business, and in Key lower costs which in percentage the Organ that in in drivers that the York from historical faster-than-expected with versus South our and revenues of no Transport as Recall XXXX tends jet between versus the saw XX% our economic benefits the have

in quarter. to we're that operate revenue by the have would Airport, margin continued XXX Absent Blade though we fourth ramp XXXX. below encouraged the continued fourth been points and we basis higher flier estimate Blade Airport approximately quarter In breakeven up, of flight growth, the

expect seasonality above better, ahead the QX. slightly flight shift mix we expect have levels. of remain our XXXX, towards first York to both QX flight flight primarily quarter revenue fourth From margin by to similar third and we margin to during the and the Europe QX businesses lowest in continue quarter New QX should of perspective, or part to margin margin, driven while a seasonal be and of the quarters year, higher QX to our Looking with slightly highest and XXXX quarter

the that and turn general now and includes basis, expense, to significantly had acquisition. expenses. administrative, our particular, several corporate an reported Let's noting development, for marketing a exceeding earnout the worth at selling and of to payable Trinity items, in EBITDA contemplated On software time management quarter the which team target it's this unique

generally adjustment, price payment purchase to a as to expense accounting earnout accepted this principles view we While us this G&A. require

the our XXXX, period. pleased or of percentage When non-cash corporate leverage, including where we're other XX% declined in that of opportunities revenues necessary. the as non-recurring XX% look to in adjusting prior-year we to a optimize in to versus revenue adjusted drive to for this the structure operating expense operating fourth expense of cost items, Like our every for earnout environment, making quarter and company tough decisions further continue

of As we be look first we XXXX. to than $X $X total fourth the corporate expect XXXX, of million the quarter higher to to quarter adjusted million expense

the corporate prior-year loss but XX% increased Adjusted period prior-year quarter $X.X improved a as The additional quarter SG&A weakest XX% growth to Blade's marketing despite in the a of prior-year attributable the development, fourth EBITDA software addition quarter. our fourth a million related this the $X cover recent to which did million and versus to period, flight XXXX seasonally loss to revenues in quarter including fourth in primarily loss of percentage the expected compared full the negative revenue not Blade to expenses of from the period. Europe's and and of is where was in of in profit, in SG&A related acquisitions, growth, to Europe, burden future felt limited

will to the XXXX. sheet, our in have million] continue fourth end as cash (ph) respect short-term [$XXX of our quarter of forthcoming be in tactical for to debt remain zero we result, and and With to approximately and and the We tangible cash of path offerings to breadth of securities that generation. a cash available our balance confident the of majority we profitability, remaining accelerate free a expand and acquisitions air mobility can Blade's expect significant trajectory flow as

in I direct presentation, to be your SEC. investor end, included which the will that filed that the our also To be will new XX-K in attention to our disclosure with wanted segment

Passenger have both the which MediMobility our December XX, from as this economics plan metrics Passenger for disclosure, light and our businesses, our that of profitability EBITDA unallocated that hope notice well continue added business. addition enhance for profitability and in on as presentation both prior fiscal segment and flight revenue, the will to Transport shine Organ to to future, ended help we the will level of strong year. and the the You in out our we adjusted historical and year business broken unit of attractive profit expenses corporate XXXX, We Medical the

significant more additional some EBITDA Medical MediMobility give adjusted to $X.X result the period. context, solutions million did is of Organ that to full a patients. To $X.X positive was in total bring the customers in team segment improvement the million The work Trinity year XXXX versus year-over-year our Transport prior-year tremendous and

in the XXXX of segment lines, that Passenger are which both calling EBITDA segment, in in Jet includes Passenger change worth million Other adjusted There $X.X prior-year period. negative your attention. was EBITDA year-over-year segment our principal our Distance business full Short million the year In drivers and the to three positive and are $X.X versus adjusted

June addition relaunch the in continue flight costs. is breakeven to we Blade which Airport, incurring additional marketing and margin a XXXX to of selling basis on First below where operate and in began

during the the As our owned calendar them insufficient the European flight the resulted during in of months was mentioned the previously, XXXX. of of timing cost a profit acquisitions business fixed that we level to closing cover of year

our expect year financials and after continue in be tailwind XXXX. this the will result the We year-over-year business in a thus accretive acquisition full to to in to first

basis on Lastly, in of first during a primarily our XXXX impact the not full to quarter. profitable our Vancouver business due year Omicron was

EBITDA expenses non-cash as exclude and metrics these as items. well segment unallocated non-recurring that adjusted corporate Note

cost and website our allocation our segment section Investor XX-K ir.blade.com. on latest available on to will presentation, information please our investor refer methodology, which more the at be For Relations of

to Before it I disruptions I sector. turn the wanted back recent address to banking in Rob, the briefly

or does First Valley or cash, Bank an Silicon Blade hold Signature account, and foremost, not Bank. at maintain securities hold

not material JPMorgan is to Bank Bank our Silicon Valley relationship depository critical have or primary and vendors identified amongst large Signature Our we or Chase, customers. exposure any

few With it Rob remarks. to back I'll a turn for closing over that,

Rob Wiesenthal

Will. Thanks,

the sets the take about including industry to into our story, those expect to going those call in the new moment a be strategy may talk and future. us apart from enter for Q&A, Blade Before will I what in industry, others who growth to on who our our

technology, First, strategy company our are has we building as shareholders air ecosystem well, aggregating world's a proprietary passenger the the cost and built a cases position, disciplined mobility our of durable with and and track from and be record. brand technology. This best that for can use businesses, infrastructure, terminal possess diverse, competitive leader aircraft safety today manufacturer-agnostic we and existing have served where portfolio profitable superior our exclusive are mobility we air advantages favorable market

and Second, we businesses. markets and resilient end our Passenger serve across both customers Medical

times we contested geographically the fliers opportunity offer to On Passenger side, travel or in the congested significantly markets. reduce highly

For example, is a York into market accessible, in to New City, flights only largest we Uber five-minute turn two that verses drives airport ground not the competitive but price our at options. hour of

are saving transplant right we We aircraft procurement it as at organizations right human air transplant improving in unparalleled country, the our patient largest is the centers and that organs MediMobility, transporter the crewed of time provide customers most to for the and In access recession-proof at with a organ we time, gets. the importantly, believe as outcomes. market price, right dedicated

center savings, and is the that will competitors, and customer confidence value versus our broader transplant which and business our and to flexibility platform continue macro the of time us environment. technology the fliers service, Our our customers regardless gives thrive unmatched positioned uniquely

profitability using to our path and organic from see lines we Third, aircraft today. business clear conventional significant for opportunity growth a existing

EVA what in Over certified. are to: of allow rapid of was business they call EVA, our and EVA adoption market in from our once margins one, of to markets. existing choose landing introduction growth operate; with mobility, zones three, cost. vertical aircraft, our customer wait need one and operations. in average improve time have by those that out to key for landing to air the our electric may key the where Unlike do of build in our earnings expect to number our for not infrastructure flyers addressable by or an new to is passenger we urban designed services; increased flight increasing us we compete who begin those cost outlook the enhance hourly we aircraft we world, However, exclusive two, lower the reducing We of available markets the infrastructure day resulting

Over the strength and who the investors past opportunity, in interest equity and view have our new that few been who by view dislocation the prospective as from months the a significant share we and for unique pleased volatility markets prospects for today of the are not the million growth and our in consideration current our even of on cash balance valuation business of future Blade, and debt-free with hand. $XXX nearly sheet, market reflected

While the our our can not discretionary growth control, pursuing lens we costs which on focused we do under supremely what managing aggressively of we stock control remain is while profitable price, ROI.

You stakeholders. year all commitment work for to continue of have in our the deliver will exceptional my ahead we to that tirelessly results

questions. that, Ravi it With over turn I'll for to

Ravi Jani

Thanks, Rob.

from analysts Reporters questions. call on a take should As reminder, will Operator, questions inquiries we're me and ready directly. this for now today. to send we investors

Operator

first Jason Oppenheimer. And Helfstein line coming of from Instructions] our from the [Operator you. Thank question

open. is line Your

Jason Helfstein

thanks. Hey,

So, two questions.

MediMobility. can airports? continue do growth talk got basically Thank just particularly schedule, trade-off Rob, margin, airport? obviously, profit MediMobility kind generated in So, you. And namely gross are then, And to I've you of -- to improvement you about guess, we you profits by in Short follow-up. philosophically, to thinking Short how a profit in Distance, use in plan fund I Distance around the basically see incremental the steady and service between

Rob Wiesenthal

can on not cash in our in even losses position still quite our generated With for But does and the reduced that's our the Medical, Sure. And overall EBITDA going happen year. tremendous by improving of sure track conservative not coming that critical cash the generated Medical is are making cash terms we're respect when only by it given obviously, pleased balance, that growth of to MediMobility, sheet just growth with contribute with the keeps have we to the forward, you're this us MediMobility plans amount but bottom-line. the that cash obviously, balance there.

think now think travel later busier the of the With we year, also that account we're in seeing, is to a to in as the terms right respect trends I I seat airport, the Jason, season price in that with positive. growth passenger average get the

that as introduction classes right low about average fact price can the is I for us. $XXX. such and of fly seat as important to think connection, the you is $XXX add-ons that as now dealing And fare other we're this with because despite multi-modality really car

on utilization think the average growth, of that's going will I our hopefully of So, that sales accelerate to movements the price, airport. which and increase profitability improve

to being want With there. of we more need that you are when we're schedule. But to schedule, respect go terms trying flight offer a to surgical a airport, that lot product be the to to said, our in we

to urban area is So, product on Short for offer from completely completely the a million competitive going what with us they'll to be customer be That but now. the a short between median a to in wanted York] the fly to profitable, clearly, in fulfilling be [and the could if largest profitability long in air a help afternoon term, airports, in Manhattan be may seven mobility the know that four not wildly and we world opportunity our that the want we can (ph) product XX base but Distance -- New can We term. product want airports in that's we the airport. all we

will Flight year. quarter a during margin this profitability, see you

confident per of profitable and average this there numbers in see price the combination a already we and the quite the are growth year will margin flight It's sales that going We seat quarter. the up.

Jason Helfstein

then, quick just a follow-up. And

Thanks. in thinking for about? cash just what using us understand area acquisitions. of kind kind about comment of did Maybe You you're help

Rob Wiesenthal

what dislocations. of Well, that the you There's tell companies to reverse fit cash tremendous needs acquisition platform. fair leverage also lot amount And now. right of a be and shared I in, seeing on everything lot of tactical a to inquiries a a don't our can We're have there's needs of lot hand. needs look, A service on to opportunity side. is that

the -- As every the a year, -- our expense goes our of over percentage during you've down. noticed, percentage -- every course quarter or sales corporate as of

So, committed this we shared we platform to of day we any to and need always accelerate companies and purchase. accretive leverage service that buying We've to one one. great company have profitability assets that are profitable day

and part I in people great of already Hudson we're agents, the And for but in making push [indiscernible], airport corporations, corporate travel looking live to XX,XXX business our consumer, be always more especially opportunity that some also only in the in into headway connectivity important, Yards, customer who with has extremely to and work to corporates be Europe. travel. and big That direct like We've is a there between products can't think JetBlue. also,

tremendous Mint a JetBlue in addition sold, seat out members with bundle addition significant where for an discount in TrueBlue to it program every have they to We -- Mosaic seats with airport going members. with with

opportunities Also, Next Out what capability. we're we looking at Flight call add to

and because organ kidneys. which the of body As the survive with strong largest business without at core Medical respect is out provide can that Out our looking growing lung. and very Flight services, the longer seriously that's time. transport use heart to liver, And our growth outside we've at very done businesses, is actually for business, incredibly, incremental, an period of transplant we're a is which you of area should while are tend Next to that kidneys Hospitals know, part

Ravi Jani

Great...

Rob Wiesenthal

Thank you.

Ravi Jani

next take can we the Operator, question.

Rob Wiesenthal

Thanks, Jason.

Operator

J.P. the next Morgan. of coming And Bill line you. question Thank Peterson from with our

Your line is open.

Bill Peterson

Can for question. the reintroduction Thanks of impacts a the taking COVID, more airport. of bit we the the particular? margins on dive in in flight discussed You Hi. Passenger Yes. little for

the for though I that's Hampton base and On raised and well the prices, you price. like believe, airport even hand, $XXX, XX% other [indiscernible] above pricing it's

little and bit as Canada in raised you I in a Europe well. think prices also maybe

level? looking sort I I should we ahead, about terms current when So, how of in of moving the back think I way Again, the full the think this of But of in talked context seasonality. about to guess, about about how Canada and thinking Europe, about the you know maybe right that get thinking year [targets] margins? what's should (ph)? guess, forward you we XX% of business

Will Heyburn

the question. points. for I'll the Thanks here. Will couple hit of a different Bill. Sure,

On our side always particularly best for reiterate, the see think things, pro of can made, the forma in that true we've just QX. Europe. even to seasonality We we'll It margin is summer, had Short our acquisitions see obviously, margins. be see going We, second better same slightly to margins. spring, business in where terms in that you're U.S. that of well. Distance best as QX still will

to and to and make And percentage margin Other, larger a revenues are to Jet are of going which perspective, then, QX. QX QX Medical to QX in And be driven going from a up flight and continue lighter. that's really by and shift mix

flight focus mix driven Medical, think massive than else. However, because that is it's growth anything overall blended right by be don't thing shift the in on given to margin the to we really going more

reporting, Medical does though slightly can range XX% a segment the of kind XX% fixed about, as we've average lower talked that flight margin there are in see fewer as And in from have that to business. direct you costs

it's our to And great EBITDA. overall adjusted so, a contributor

though, mature as route margin, slightly that So, about Europe, be lower flight our blend a flight to you'll XX% around the toward average for see we're Distance Short range. margin concerned not closer

XXXX. to boost be margin in overall a flight should that So

quarter. We flight have in drag which that we breakeven slight our course, this a product, Blade that Airport on to point about being talked from continue then, about is drag of And XXX to up margin utilization. still basis ramping

but drivers lower bit flight clear the is out the for going little even got you've make line think to we So, what MediMobility, a new the is the margin of number for a also and there. disclosure you make are below pieces, though hopefully segment we help moving figure up it that it

Bill Peterson

going where look, numbers go. already and faster, MediMobility to understand my certainly is it's your Passenger question is I you do want still margins Yes, positive. And EBITDA fine, the really that's at

that's So, okay.

And question MediMobility. to actually related the is second

-- said to third believe fourth to think I as think just more first hospital look I added into organizations, exited we maybe Where year the you I I'm at get of that quarter? was last you XX. quarter quarter, but don't a further procurement trying clarify coming think only way your the (ph) relationships, hospitals but opportunities market about more where not organizations should feel [in through business] organ as have we from for -- growth the in (ph) you and how already this [mobilities] share year? And your

Will Heyburn

Yes.

to still your just and it's hit down Europe range. think in mature that question, Bill, business we that that's right XX% airport sure routes passenger going XX% margin just really now. make a to to I already pulling for so that's be And is do

we sure right you make the So, have to there. model for your number want

In MediMobility, customers. terms count to continue we sign passenger up the on of new

to anyone onboarded haven't on We new update you now. right

that to going continue the time. you're to Although process onboarding because growth takes see some

on see is So, year. lumpy growth of the each we customers always announce but nothing But this in have that you be final expect quarter-over-quarter, do in May a to quarter. because same continue on new depending expect Medical customers. sequential the we call it be stages to size to to that during are number going substantial continue growth to of contract, of this not

Bill Peterson

Okay. Thanks for the color.

Ravi Jani

Great. Operator, can next take we question. Thanks, Bill. the

Operator

you. Thank

coming question Deutsche next Hillary of Cacanando line with Bank. Our from the

line open. is Your

Hillary Cacanando

time. Yes, hi. Thanks your for

year know about to type year will in think that seasonality there for -- and just of expect in growth And us business? could like is I that be the sequential But mentioned remind quarter. for terms MediMobility seasonality any growth but growth for seasonality, change sequential every should we how growth, for noticeable if the business? there what just You you any of

Will Heyburn

to really not quarter, consistent. QX, pretty this doctors seasonality I see and won't things maybe a There's really just think much -- sequential same it by thanks it the that quarter much consistent. we in there lower, in the question. always might a We growth Hillary, business. like driven There's saw for but vacations we not see really that that If expect we is see touch be is that. But for

Hillary Cacanando

Okay.

quarters three you and modeling, kind of distributed of evenly lower So, then QX of remaining touch in like in terms the growth, think? terms do

Will Heyburn

fair think way model Yes, a to I that's it.

Hillary Cacanando

Okay.

kidney you then, potentially then into acquisition cargo do to terms Or getting And to critical of into you what in presentation get your mentioned transport good. you also into can timeframe And medical, and make do getting delivery. more kind you and radioisotopes color business, parts these and provide businesses? another need potentially Sounds order of the mentioned be? in this organically? Could would the

Will Heyburn

Sure.

best be to liver, have a probably already. So, And Next The We serving news on kidney and we'd on is that the with for already. for transplant heart, serve is the We we're think Flight very centers this. Out. pleased they're as good able to service customers we these our through all lung this Rob love think capability that do them brought that's that in the of side on well. terms acquisition touched

So, it's at. looking we're that something

but solution moment, hands offer we significant full at I'll if shop growth, one-stop huge we opportunity have was the customers our kind Next remind Flight we would the it think XXX% Out a and Given appreciate as could quarter, we that organic of have growth this that we had very we see that capability. you our all

something it any you acutely So, have on. is we're for that on specific focused but front, don't timing

for customer already true radioisotope for on with example, We're do And really Canada same not with critical flights going. other work some do We critical for today, manufacturing. cargo. cargo in set is up relationships just that cargo, are the

the of in you points that's there's But the a center. that platform existing leverage terms some probably So, touch there. capability operation

use wouldn't you add relationships. need ton acquisition a but to build those probably to you cost, So, of

Hillary Cacanando

Thank so you much. Great. it. Got

Will Heyburn

Hillary. Thanks,

Operator

with [Operator And question from Stephen Suisse. Instructions] line next Credit you. Ju our of coming the Thank

is open. line Your

Stephen Ju

Okay. you. Thank

Rob. hi, So,

about in past we've sector MediMobility I talked the how fragmented is today. the think

thinking about So, consumer about you regional going in we're Thanks. for forward, potential baking to have and plans, organ transport? for should thinking your as region rollouts both both to segments for be in attractive a regional expansion particular Does be expansion we there? order be

Rob Wiesenthal

the that critical of have brand road world. most is possible. and Right the talk get amount we're it's any and infrastructure, are York, those that Uber businesses. on we're goal, all in one people doing now, We different and in biggest achieving very airport looking Passenger, on We're ground with flying at world who today. about from the strongest very, those airports million think the day Two the always opportunity at as XX serving to New on the the actually York is Manhattan focused the markets New that's and where market goal area amount should which to only MediMobility question. flying I between transportation. competitive And number our is of company passengers saying deep biggest largest every the presence, the that for are single price as a that's Thanks Sure.

multi-modality even On of our scale the Medical, it ambulance, of general, MediMobility jet a helicopter can acquisition and service United or because on be across we of States. basis whether in the by Trinity

So, geographic not a barriers us MediMobility place passenger and bound in that no does from we detriment are by is have not service. there operating

new contracts require geographies, new not incremental it does to respect with And cost. and

fragmented, cost as that a to a into that for contract, In operator business, win here at that found business, we our acquisition have sales portion out of infrastructure, is have on the to that fact, because and multiple it and may respect opposed given pitch go we have so the look a to this long-term that more paying when it we out is contracts opportunities, with business kidney and mom-and-pop and of for team outside lot the build effective that us few our business there.

with this So, ROI our surgically, at existing business. I tactically, growing the effective highest this to most way of continue team and for market-by-market think it kind going us is

Stephen Ju

you. Thank

Operator

from showing with Peterson [Operator have we Instructions] Morgan. I J.P. question a you. am Bill follow-up And Thank

Your line is open.

Bill Peterson

the But about follow-up Yes. a look they I like we different are over obviously, lot for now latest your airport obviously, think pandemic as past maybe the currently bookings to again, Hamptons summer the home] guys go seasonality. how What that, we been And into Thanks that given [work talked few due specific guess, years? benefitted you from the (ph), trends? about things areas one to and should product, the fall the into to And taking from you, question. they relative fly there. always to

Rob Wiesenthal

Okay.

and in very difficult it's coming I time? you're out. hear the question you maybe to more just guess, Can repeat you. think one I

Bill Peterson

how -- My to apologies. back of lot explains should flight about and people from how that only] get a a I business that the how and maybe pandemic, I that on points, talk of forth. going out should price feel benefited wanted at largely -- trying we're, the trend past to forward? airport the that your to pandemic? look sort that [We (ph) Curious from higher but those moving and -- Hamptons one tied to now fly just for guess, can to

Rob Wiesenthal

Sure.

we're With one Okay. and that and I Newark airports, respect we understand both [indiscernible], side. both the side just and in east the to are airport flying not to flying west

to customers, is year But Hamptons price wanted your question, low to Omicron, the a with past to to a going during allow courtesy ago, that city. of as out back live we $XXX offered who a very people

this became Sundays. any, price our most of -- fact, no $XXX in miles people of more for right see home and did XXX to where through to into their problems, the of city homes became didn't resort/remote a fact, as kind environment essentially terms we and they go I and of fear decline a didn't to working to a that or a number short of the was We think Fridays to lot And see previous across went $XXXX, of a secondary quickly any call wanted we come a in it in lot layered city from the Thursdays away. take and amount saw returning that in on Mondays products. time there back, summer willing ability the we of of last price close staying system, that increase

is longer kind is in a given find to to strenuous recover of would don't but out, say out -- what and massive of is that in there's weather, a it I case business. forward, hybrid, whereas different That it's are was to have find lot times in good and become to there has outgoing on for directions. cash flexible incoming a want So, this all the going least a of because mechanical, both is the back Thursdays people the it that from to Mondays, fleet Sundays more we lot truism. say has difficulty, a flying But in of because you Sunday bit used us your forth, plus People going opportunities that to of and are spread empty, typically which empty. a terms Fridays back of lot fact little still seven-day potentially, Friday on I a on a to peakishness terms which returns have and a in definitely make it's come go you and no spread on and a enough the were more that where operators say has weekends

that's to back not more is my needs at this and move needs product. home. key kind my a the "This the once we're But to there. compared Friday a that office live a I now the idea come It's I want remote ago, that year of some maybe predominantly I week, point seeing think made a the to and work depending out city my around to city It's second be to, is week of into going gone. you to on type Sunday home." is just at going What

Will Heyburn

in made in airport have. asking And Long case not the diversify effort one were Bill, to landing we about on serve different Island, it's we a just locations concerted you destinations we just fact the and

So...

Rob Wiesenthal

Yes.

we Southampton by seaplane, the high service lands addition to air and So, both now, Montauk, Harbor, seasons. view as to that helicopters. East Hampton, of we amphibious in have make Sag in throughout mobility, scheduled urban various that's it which to And right just because types clear, Manhattan, serviced

Bill Peterson

Yes. Thanks additional for questions. Great. Okay.

Rob Wiesenthal

Bill. Thanks,

Operator

of Michaeli our question. Itay for And please, from next line next Citi. moment, our from One coming the question

open. is line Your

Itay Michaeli

Great. everybody. Thank morning, you. Good

of wanted that Just on that the path the question, in us M&A. you're majority gives a how able you a around confidence path hoping significant to the bigger in the what to the cash go path you and to as could you to confidence of of just well profitability significant profitability M&A? be kind for cash picture as just the view a kind Maybe to the comment your to for as deploy of amount release back remind

Will Heyburn

we sort the the the to of hand, Thanks headwind talked for absolutely. for bridge year, only because a the just right, one adjusted high-level $XX.X that it the a of actually give on year for negative year. volume full this of from Yes, part question. was the million during owned Europe, given we of lowest Look, EBITDA just about how, timing the us

So, that it call said that somewhere headwind we've a in the digit adding should be EBITDA. mid-single of mid-$XXX,XXXs adjusted where

adjusted in kind year the impact down you (ph) to on [$XX a of the gets million-s] adjusted EBITDA EBITDA. of full negative just terms Europe low of So

And this about. then, we've XXX% Medical a is that to that the organically can talked time. as over is we've believe we biggest driver business that grow continue And said,

talked XX% flight for if negative our you made is margins, to markets period businesses in was our another incremental revenue of significant of launching at make and any we're some which in brings us. it year of improvements digits which of process brand before about, a before and to in where Europe adjusted EBITDA which add what both improvement kind Vancouver, So, of that drag the down from still in any XX% the technology to new profitability, single and we've the we've million airport somewhere that's over XXXX we those in $XX calendar time the in is

help so, that think further. moves even of EBITDA either can we And those reduce negative adjusted

particularly we And a I we'll adjusted but on get so in to that. XXXX think adjusted growth, EBITDA we're put give (ph) our [immediate] precisely given the when expect to Medical, ground in part territory, hope into to the closer of versus improve definitely year, on call to into XXXX. little able as we we more And this be as to positive precision stake the EBITDA cross don't ready significant a

Rob Wiesenthal

or to improving get EBITDA we're you if add stratospheric talking improvement don't to keep for is see even terms about. growth We of in to Will I'll year. to mitigation would that, of reducing even EBITDA growth need that consistent saw this in any you And the an still -- experiencing in type the Medical, where

Itay Michaeli

flight view high-level helpful. ramp in very very, impact a quick versus that's airport Maybe the any QX? basis kind Yes, margin points in on follow-up, on XXX the as QX of

Will Heyburn

QX you in a know, as weaker seasonally, commercial for air travel, general. is quarter

about probably expect we similar though and in QX as airports encouraged about at volumes terms same a drag the think are in I you XXXX that if for revenues. quarter-to-date double we talked on period year, QX of running look of So, call, the last both

just in given that So, still seasonally growth, sequential see encouraged a but quarter, profitability. step up the to with lower not meaningful probably going

Itay Michaeli

very Thank Got helpful. you. it. all That's

Operator

gentlemen, Thank great your you. the queue program, and Ladies am conference. time. this And a have This Everyone, at thank I today's day. no for showing does in further conclude you questions you now participating in and may disconnect.

Blade Air Mobility (BLDE) 14 Mar 232022 Q4 Earnings call transcript