BLDE - Earnings call transcript Q4 2023 | Blade Air Mobility, Inc.

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Operator

Ladies and gentlemen, thank you for standing by. Welcome to Blade Air Mobility Fiscal Fourth Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session and instructions will follow at that time.

As a reminder, this call is being recorded. to conference now to like would turn over the Mr. I Investor Relations. Gold, Lee Please go ahead.

Lee Gold

good for and Thanks, welcome Thank today. XXXX. morning. and you joining everyone Blade quarter December us Mobility We the appreciate to standing Air Conference for Call Webcast ended XX, the and by,

factors Before including that forward-looking harbor constitute of to implied you future SEC within deemed results made language. the filed forward-looking call by to cause only statements we call. refer in be would more including the statements. filings, statements could are may forward-looking company's date of these periods with detailed this conference may this Securities uncertainties, that during on Act remind started, time of meaning our you We to this Reform the I differ forward-looking are Any and Private call materially risk Form or not XXXX. statements Statements facts, differences. are historical statement annual the about expressed of actual get the conference like provided report the risks future our of and the of for forward-looking XX-K and subject Litigation discussion to SEC from as those These a made safe statements

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

those measures, and measures presentation. non-GAAP consolidated our our call, comparable the release we our today's measures directly financial of During financial reconciliation is earnings financial may financial which A most be GAAP non-GAAP in will certain discuss investor in press should performance. also believe provided useful evaluating we historical historical

ir.blade.com. Blade; on a XX-K Form isolation non-GAAP release, Officer Rob? as Rob presentation in and or These our the Chief and now at measures Wiesenthal, the substitute financial to investor website are today's Hosting call available Rob I are for will Executive results prepared Our our XX-Q Chief not should Wisendal. considered Relations section Financial in Officer. accordance of Founder of be Investor turn press Will and over and with GAAP. filings call Heyburn,

Robert Wiesenthal

Thank record during Blade. I everyone. for pleased we another morning, XXXX, Lee. am with our year made progress you, Good very

between we I'm but When Blade XXXX. million Airport, and financial sound especially helicopter just In increased QX, by year XXXX, at increased in service as at full out year year the XX.X% and just pleased area per for launched strong, for intense on trajectory profit Our seat, the up not share margin our EBITDA $XX.X also again Blade results QX generated that X flight enhancement sold above airports and seats initiatives to the XXXX. our delivered to York flight. is adjusted we full set the for a $XX.X period year quarter. yet improvement tangible. the million, XXXX, now positive prior This versus unit Manhattan our starting to focus profit, in per versus this flight full economics to X while revenue $XXX.X year New negative Airport XXX prior XX% profitable be of led to million

electric transition investors. or coming X-year team make our so we and and begin diligently way a ground we vertical to take flyer operations flyer minute years. the direction, and partners this USA look eVTOL teams continued aircraft operations acquisition from a our to has I'd relations, metrics to transport right as this were the Vercedes-Benz from our EVA for to and year on-the-ground forward success. working We to to logistics customer ramp-up product our work growth at in in beyond So in growth thank like hard the that along knew required the patience pointing our experience, process

lower On improved front, rapid serve growth are and availability to aircraft medical, announce for us. of fixed support enabling jet the unit acquisition service economics the in we our the wing continued and hospitals excited operational cost we to X improved for

medical confident for the year our Canada. cost existing we Blade We than investors from the our an since Our of the in our already business medical of for After purchase providing aircraft crews, select XXXX, our capture compromising without fixed building change rewarding by operator we to adjusted to as number continue exclusively in XXX% flights a of positioning in more XX, of our our incremental to this XXXX. risk now we further will by profit further aircraft expansion to of owned and acquisition leverage and light the maintaining has our this revenue vast to our Air. are us without believe ending improvements, the model guidance presenting new passenger strong nearly positioned opportunity and and are a asset-light margin through jet very benefits Trinity of cost the EBITDA well tripled medical group year that aircraft serviced of scale use Europe aircraft majority of begin the structure the and will third-party limited be operated December leverage growth, XXXX improve competitive U.S., with flights by and and purchasing of operation

our adjusted forward the stake achieving And a first, provide passenger adequate to profitability. but have not take goals is enabling in XXXX, put like visibility, the in Will additional do details provided XXXX, let waited that in to millions. which EBITDA. we these double-digit adjusted exactly current reach better providing us I'll positive I'd just we For expect public and lightly, which businesses, shortly, to why we we EBITDA year ground emphasize the for on medical to scale expect

around period, short QX the XXXX. improved December U.S. few from I'll quarter ahead $X pleased million see driven our ending increased and year Starting Europe to happy distance We're of in With in highlights profit XXXX. expectations, significant provide current in but to our I'll improvements quick period, average our provide QX a in prior in to the important for prior profit business driven report win-win to XX% our maximization, fourth with use Canada. well for million up by revenue, of details our a another strong XX.X% segment. year on distance profit profit increasing across our $X.X increased revenue significantly short our I'm ground growth profitability versus per let in dedicated XX.X% flight growing helped delivered have of Will Now quarter which $XX.X the some trip, quarter that Passenger, million focus while medical owned vehicles by increased versus XX, medical, lower additional flight this ahead and Blade Airport, flight and business. growth in XXXX business cost in of hospital customers aircraft us

alone second are that Blade Airport quarter revenue XX% row. in for in especially we a positive previously, year-over-year mentioned pleased growth As to delivered addition contribution plus the flight

expansion coupled driven QX XX% in hospitals Our improved and increase versus existing in to continued Airport the year market growth in passenger, period to by Medical, profitability QX adjusted $X.X In contributed Blade in passenger million business XXXX revenue with a negative strong EBITDA XXXX. increased with hospital across wins, segment prior end growth. new $X.X million

million adjusted we Crane As organic leverage QX business. this EBITDA a the acquisition reminder, to segment $X.X XXXX XX.X% this XXXX. strong completed Medical of as increased in the is in growth XXX% operating demonstrating

key It's in improvements prior growth enabling XXXX. with new XXXX cost placement a $X.X our for to months. a more Blade, adjusted initial grow to $X.X acquisition. lot period million around for negative the improved overhead. profitability we percentage will of As in I'll with team coupled dramatically launched XX.X% revenues in available decrease XX.X% position our this These details say operating our light in coming very Will. Langone.We're to to organically in I And line, as aircraft EBITDA led our year-over-year QX focused XXXX. negative December to of made our a us, a million we'll and by from expenses, progress and short-term the days have, without segments, and adjusted best EBITDA Jet let transportation that in quarter million I'll over share business. the TOPS expected, I early drive provide $X.X is I in versus very has planned, the significant service. investments NYU but QX of exciting on staying am Will pleased seasonally This we Blade business adding and with but fleet, call QX our our negative Adjusted great organ the to QX, leverage significant a continued Blade to service cash believe that, a new unallocated in as proves to both pleased year million providing more the have on turn on despite by us plans in am with customer, corporate success X with structure dedicated expansion Blade organ being this possible improvements both With our to aircraft highlighted growth, acquisition $XXX.X improvement

William Heyburn

Rob. Thank you,

medical and We'll mix our like than market revenue, largely outcomes. landing with new we quarter like influenced quarter. to I'll a our transplant period which our XXXX. now This we transport with in revenue in fly growing That's I'd percentage with expectations medical platform hospital period. at Industry-wide, of centers prior and of in saw that or sequentially has QX flights longer XXXX same hours market where walk the passenger by charter X through, costs per is our we to of can XX% business. segments organ $XX quarter. was hospital importantly, logistics quarter's leverage demonstrating profit resulting we've period. versus we end a and in versus lead the which to ground in shifts flight times, margins XXXX we to of reliable customers, prior well offering, trip a of fuel flight we paired that slightly to which placement more number made remainder trip slightly hospital over we shows of the and States. addition sequential expect opportunity $XX.X At revenue the aircraft profit repositioning and as will customers. believe get medical reducing that fixed farther only, of transplants and we increasing our was cost-effective air as the working. why everyone built Blade. revenues business by and Before profit revenue in dive strong as full aircraft with fourth per United strategically while we percentage highlights enabled the costs trips to our fleet for availability the though the business the to aircraft of customers profit which between based year growth. points Compared we Use see to air are we for and repositioning us and for our the to million our improve ground dedicated and the as our profitability slight flight path Approximately the factors million dedicated to profit in use QX on XX% us lower enable of increased flight growth manage even our remind a cost comparable through typical existing helps our fourth per new same will driven which of with by the better this in, dollars scrambling with higher start view rather Recently, end-to-end XXXX medical This passenger aircraft significant organ slight driven in decrease more QX pricing, be from vehicles versus fees, callout the the and primarily our XXXX, year, from strategy clients few hours year pass air Medical progress our increasing improved us grow medical When reduce continue distance shorter Medical, flight in customers. increased based decrease revenue trip dedicated saw more we've time, QX, flight transitioning more organ by near more segment, while ebb most flow, patient overall provide growth generally and as can increase. while this our increased

XX% to the margin QX medical steady As the guided on towards improvement medical report percentage X toward happy expectations we're discussed focused which to flight XXXX slight XX% percentage for last XX% improvement call, a we point XX.X%, expectations. point flight quarter's performance, earlier, that and QX with XXXX. a exceeded keenly X continued range profit in margins exceeded year-over-year sequential XXXX at our versus On plus in future. improvement QX I'm

XX% Our adjusted the of versus current comparable achieve than Medical swiftly comparable to EBITDA period. million million of aircraft us in profit vehicles allowed milestone the in $X.X $X.X quarter, segment the the was adoption $X.X versus ground million or XX% quarter an million in segment faster-than-planned in more $X.X million was XXXX period. dedicated and this owned $X.X XXXX fourth up of flight originally increase important Medical XXXX to anticipated.

medical gradual above and XX% driven single-digit improvements QX start-up sequential supply SG&A sequential XX% we new growth SG&A than expect by the XXXX aircraft end-of-year revenue forward the catch-up, of QX Medical, the expected staff. associated low plus quarters of we sequentially, margins the and with great with in by coming by slightly and heavier towards costs up add a as entirety in arrangements. growth continue Looking logistics followed XXXX slight expecting was little some driven end for given lower our year, ramp performance. by medical tops we single-digit percentage commission in We're to tops

cost the recently XX% aircraft, owned start and a flight to specific to mentioned, new achieve or This March. highly most profit lower experience, margins slight and longer previously capacity points our medical should both and in aircraft we're announce is of flights with during agreements and these help among on utilized hacker aircraft improved see excited acquisition the average emphasize seeing these under over from platform cargo other more are of for operations. Hawker margins X us higher than Blade. coming We in month utilization In Rob of to XXXX, for signed positioned in our in margins X customers. aircraft significant competitors. of like by utilizing range costs to Based As our results strategically uplift overlapping areas customers arrangement bolster I'd our that will profit demand purchase our the agreement the to XXX to plus margin our with these which XX are a aircraft capacity goal our percentage medical quarters. expect for purchase today we utilized lower

acquisitions Going will our to are model only We flying in already asset-light aircraft. continue where forward, majority and we customer third-party significant areas servicing we expect operated aircraft assess remain our to demand. significant to of remain with owned the committed and

overall cost the activity $XX in aircraft of acquisition to The is with million million operator. The $X.X example, expected XX% owned XXXX. opportunity apparent. the in $XX.X discussed only for today existing funded represent specific margin million further For Blade's flying will are and deposits through be cash about expansion at

seasonally all in Blade pleased our costs increase versus $X.X fourth softness that flight to volume for period airport our our product quarter, quarter XXXX. was utilization to Canada. was and of flight for Blade XX% of million X, is seat primarily And year and meaning of primarily pricing business. was decision between in to by a quarter year in the seasonal $X.X XXXX $X.X This and service revenue to our profit the $XX.X ground driven from XXXX, period, jet in charter. light up Passenger gen driven Europe the in by Blade's comparable related $X.X which Turning and million increased discontinue distance, versus it Europe by the the Other XX% period, segment to our covered quarter Florida, the this million $X.X decreased but to of In jet XX.X% product. passenger revenue increase continued positive to $X.X New Blade stronger fourth million see buy air a was and impact positive transportation and Airport full and South in quarter same contributor always attributable XXXX million an current in in York prior million to and and profit in profit intraterminal or revenues flight flyers. be pricing in QX million to our million short $X.X XXXX increased improved the in a we're

year versus below of All segment a led prior in negative in original negative the passenger adjusted the period. fourth $X.X quarter, to this acquisition Despite Europe $X.X is of improvement million performing million expectations. XXXX EBITDA solid in quarter growth our this to million the $X.X

with charge agreement. $XX.X poised the strategic aircraft. an largest between acquisition operator with took we As by-the-seat EVA. improvement globally was secures devoted team of next Europe associated progress a electric to expect leading assets U.S., write-down revenue basis asset-light adopter on impairment flying We're customer in early market intangible as million, for mobility that be air such, our both and and exclusivity transition urban on making our we and management to that to a is enjoys noncash exclusive position the aircraft Monaco vertical Nice is this in a of our Despite installed profitability base infrastructure, the and and a XXXX. This newly great

led versus our yet which, when we in cost our able unallocated the year QX million $X.X negative reduce in were EBITDA adjusted XXXX. to to XX.X% side, corporate the million On year $X.X improvement the adjusted coupled to prior passenger QX medical again, across XXXX profit growth a expenses, corporate versus flight period in shrinking prior with period, and

Turning guidance. to our

XXXX continue XXXX. in In Blade to cost flight we and to to marketing EBITDA achieve employ margins the realized we've same based positive to have spend. low XX% fixed its and from that there, significant be reduce EBITDA passenger, XXXX. flight the first on would integration. and near builds our high the X-point recently scale expecting the improvement average expect become quarters, to -- by leverage EBITDA recent more in on U.S. aircraft positive double-digit to year overall the million improvement to end our the over This these tools year use items profit. EBITDA savings in expect savings adjusted single-digit Airport an of XXXX. with to turning year to we brand on Together, past our to a our unallocated to cost enough should by low to time, expand the adjusted year. segment mid-single-digit versus improvement sustain in revenues. positive mid- acquired adjusted expect profitable built aircraft. to of European profit in XXXX profit also for current continue flight passenger leading of to finalization awareness At from slight EBITDA We've the adjusted Adjusted millions plus adjusted we're dedicated XXXX, driven towards In impact get of led increased corporate to material result expenses in EBITDA X- in to profit of on just increased as single-digit the medical, XXXX mid-single-digit We full margin alone We dollars we'll XXXX a a low contributor basis XXXX,

additional flight profit Though and come the for XXXX. would gradually improvements come the throughout the Medical XX% full customer some end margins growth plus in that of with will SG&A. expect XXXX, New range push higher year we could into

to adjusted our respect expect us coupled majority our million goal to supply We will EBITDA $XXX the to our the moderate cash the as that, EBITDA we margin Rob. in in base. improving and medical about when growth yet of the The With in to is will be securities for our sheet, for it years that just ahead. of expansion, continued Medical XXXX expect growth short-term back quarter future. further excited balance fourth or given of passenger I'll aircraft adjusted performance, over our set for our up financial and and in and come, get we're end best accretive With utilized into that XXXX us tactical segment double-digit investments this with turn of acquisitions

Robert Wiesenthal

in momentum, Thank I'll to important this and proud accomplishments the you, and over year Will. fourth our team on questions. achieving and to outstanding beyond. results, In deliver short, this of quarter metric this turn building to XXXX forward we now of significant look in profitability adjusted we it Lee EBITDA are for growth

Lee Gold

we'll say Rob. start from operator the to Thanks, few for a follow the now the over turn analyst questions. by questions We'll questions taking the platform. and community, I'll analyst Q&A from it with

Operator

The Oppenheimer. first with comes Jason question Instructions] [Operator Helfstein from

Jason Helfstein

This is on Steve for Jason.

when could So Number in say just clarify us. secondly, give wondering you X 'XX. were just from what if you views positive XQ. on could some And we you questions you one, if adjusted just EBITDA mean

William Heyburn

Steve. Thanks you as Look, seasonally quarter well. is question, for know, quarter first the as light

QX. we EBITDA So say kind it to mean like XXXX, X. for what to EBITDA a Expect see then on own similar of in XX%-ish growth will there. When basis XXs look our you to in exceed revenue. QX. a profitable hope And And lot put would be adjusted high on than we that kind the we're we of year-over-year, which expectations you more going area in

Operator

JPMorgan. question from for comes The with next next stand the Bill Peterson Please question. by

Bill Peterson

the 'XX Thanks ''XX providing and for targets.

implies the with On fairly a growth the a tight outlook single-digit kind of the targets, revenue at high midpoint range. 'XX

an So and acceleration. end the end I high between what's for guess And the implies it low contemplated 'XX, on actually then that?

driving if passenger guidance on that helpful. provide So kind that, that, out can medamobility of that maybe and and break what's would be you between some

William Heyburn

Sure, Bill.

between product York noise So between bit the little and South of you New comp know, year-over-year because Florida. XXXX BladeOne seasonal XXXX in discontinued a as we the and there's jet

was dollars million single-digit mid-to-high of that of revenue. kind So

remind slightly of second factor less overall half year-over-year, your fighting probably question? softer biggest in is there. a you're headline the jet And we're little the seeing charter coupled just that rate. of you terms growth then bit, which with a So on me the why generally, see That's

Bill Peterson

think seems already the high then and like the like But of you second implies the loan part end fairly acceleration. tight it Well, in a an 'XX I about asked range, range. the

just, I But... that's think I guess, growth. normalized

William Heyburn

are drivers acquisition new The on customer the range Yes. side. Medical the biggest in

I profit more think number as seeing this the putting strongly, grow result of on quarter, especially of same seeing the flights, the business really are the people what where particularly in product. and Blade you're a Passenger and we in you're numbers, flight in Airport that's

So we great as seat aware. that's as incremental a you're already we get sell margins on a well flight going

story that on And is passenger so profit. side, flight the really about the improving

On the medical side, logistics we've got a big side new customer pipeline, on and both on the the TOPS side.

really And we when think so will do the we'll how and many range them customers those we win represents of new get.

Robert Wiesenthal

It's Rob Wiesenthal.

we've to think route, terms I'd terms the in strong in on we the competitive I before for add world been line, also for pleased the been with between countries, growth very -- Blade restarted growth those seeing the our Nice And has ground. of passenger a side, with business bitsy started is in of European largest vertical which the call X as customers are the Monaco transport growth. that we what route we line

Bill Peterson

the question, guess the a the around aircraft. questions X of XXX acquisition I Hocker few And second

seems like medical. already So it and were these for used used

I medical So that Blade anyway. benefit for it guess these versus I is does How were they like what seems aircraft? buying guess used just

figure aircraft like try could alluded What medical March the timing? of current I And do So March? then how guess, need like we to all why to It the kind these to out in be the do address them? much is guess acquired sounds to. are then going margin you uplift buy business, you I

William Heyburn

Yes.

there, couple a at So Bill. things of play

actually we've First, grown just operators. of balance quickly our medical. in outgrown of sheets kind We've so of the some

the were our we so some operators deposits. with supporting at And growth

aircraft deposits almost that of have already with these is the the we of by notice operator. down half acquisition funded You'll

we a we the aircraft. to is aircraft benefit because of to then And if down that as from we point well where the reason want this got own So own the might helps putting size, pass-through us kind more economics. deposits it we're of

operating scale leverage we fly economies getting back So that as it of more. goes those to and

now you year agreements flight to do you're the Our of above leverage but more bit not pay full we that. that a as right meet allow once less cost getting little us guarantee continued hours, fly

aircraft, of focused centers, we multiple like more where got these aircraft pay the fixed the year, only agreement for just overlapping we And lots and with will of then Now in you pay demand the contracts the capacity handle afterwards. that this versus own with doing and could cost leverage x we've when possibly those than we're cases on the minus you more own. lot where areas first for things capture purchase x we jets a a hours XX%

Robert Wiesenthal

we way it quick one at just Bill, look here.

chewing On the to time, news gathering helicopter when between that tours light, as people man do other it's side, you you okay? middle And or of so hours, we that up long the the the medical on as you're kind you're we asset that XXX% sweating speak, margin, in do think using side. whether getting asset, right? need And so have don't when of

also these that you third And kind medical On hospitals, greater you We the you profit for flexibility it's dollars the position the XX/X aircraft means for deposits us the by you're if and customers Will can customer. accessibility own faster these which said. as and have deal, it, right margin and more sweating margin a for point, flight assets. leading side, business, capture a frankly, win-win a we're it's our better of

Bill Peterson

how on guess, timing and with Medical this? address can I business Just much of the you the

William Heyburn

aircraft on where to to we economic with operated. see of XX% of if should vast going these flying tactically, going our aircraft. and be of small animals, situations owned aircraft we'll our But It's light. We XXXX a that. majority to really part our flying to going in roughly We're think do own The are extremely be business. basis cash that third-party be is on still of flow and accretive we're a remain asset it's

Operator

The Bank. question Instructions] Yu Edison Deutsche [Operator comes with next from

Xin Yu

in Grads the quarter.

adding You more that you of acquisition. And on seems have aircraft both? type could decent it bit companies or deployed quite a a or some be like mean of in cash, amount you of as terms Did mentioned.

Robert Wiesenthal

both It's Edison.

said, aircraft and be better strategically good terms again, I place and as with us enjoy opportunistic. -- have, in have assets But deals think Will something we to solid that, explore. going to ability our of really frankly, hospitals economics, the to continue when we're to to going them we're

We ancillary medical started are that our do M&A in of in a our that transportation the a top of the a we and Obviously, have relationships but that area, in with of and amount and chain organically both leverage are that tactical lot basically to good the along example we've with core that, relationships can focused terms see on -- opportunities hospitals. we from the deploy business we so leverage our what extremely businesses in the are hospitals what things program with fair capital. working do there overall of competencies, is

Xin Yu

you you that separately, of about below we and are bit I then are And Understood. feeling know going at took I that sort a Europe What a in mentioned you are going quite of bit charge. 'XX, see improvement. looking to guess was how performing we forward? 'XX,

Robert Wiesenthal

Yes.

CEO, brand-new Chief Officer. it what Operating look, integration. with was have saw a Europe, now and a place, delayed I you here team in really think, both the management we We knew the

seeing growth -- in that next for a the and we're by-the-seat really And year that right in And business Nice profitability. late said, as year I bit So in Monaco. performance this of improve for we little between was now, strong going. and and business expect terms

had again, feel that So Obviously, business. the earlier. But I #X in before good here. we started Blade, share it about the wish the we dominant market was this market We world. this remains, think

to all of these in continue dominant We share routes. market have almost

in a pretty just longer feel like a Europe, it good little bit than think we place comes to So we we're and took when it I expected.

Operator

no I this the Q&A. further additional I the show for like this time, questions. to At Lee concludes analyst questions. now turn back over to call would

Lee Gold

Thank you.

our we'll mentioned, taking state Q&A be As questions platform. from

regarding specify on and taking from we Also, landing The New the how first many agreements? current agreements question what these from York zones competition lease is stopping years is landing these Blade? can City more in zone

Robert Wiesenthal

Rob Again, Wiesenthal. Thanks, Lee. take I'll that question.

going clearly the the with in market leaving who of Airport the question the is New XX when U.S. York and by live, where important products side, about year. Blade operator and market our have over been transportation, West our opportunity. to is car right big departures an for on a east with side, XX,XXX both lease without deal a expectations Street. And where Manhattan and which every and a a airports people basis. flagship, years million has it's for dozens York day. Yards, especially you so lounge, and arrival that Hudson that is in The the vertical on City no New City next that the for the This most almost our are we recreate between think we're is operator we coterminous years situation before there is a coterminus who's been Xth exclusive on That work same there XX has booked by-the-seat with people there of large operating is

business, to be you those to a also is it Blade in with And general or It EVA move at to get may this day, the want Atlantic. quickly and absolutely because terrific to of facility X passengers, basically aviation. footprint gives call if aircraft us a end moat process order that It's in building. of any helicopters build no left relationship do and the eVTOL, you be very very, with specific literally minute turns. location, have to them a set is there kind we you in X competitive have in So or whether have the place

You on it can't do sidewalk. the

infrastructure is do captive to So believe strategy. our critical we that

Lee Gold

following claimed XX and we transplant how have? customers many has lost hospitals. contracts these another exclusive with company Are is maybe contracts The question Great.

William Heyburn

one. is take Will. that This I'll

increased is any far that customer with a the what say We customers same will Not have available of the doing sure both a relating specific contracts. And the to, question number haven't they're We lost bunch great that us. organs out there but as are as concerned, device for same transplant. as thing that's companies of hospitals. work I there's the we're

we anybody haven't contracts right do perform, than is hospitals handle think it's lost at with we and contracts. price, it of do logistics, but the better on and we job have our we're to the So great, and air that focused any ground which those all long-term to

Lee Gold

do meta is you like the TransMedics? medical how question see additional in An about competition mobility space

Robert Wiesenthal

It's Rob speaking.

one. this take me Let

in to a think longer organ big growth is we can devices. and can ability excited, that business. frankly, devices And be organ our the TransMedics of recently terms going for terrific and [indisccernible] both lengthen outside Alaska why has an a There part to that out our to longest much you're of liver heart, in did are device of travel so our device, body, we're from so a using lot in organ time I lung. distance business a there see -- transport the the the Boston and Paragonix ever trip core

largest the We the States. now air transporter organ in United are

We to expect continue that.

We is the are. that And all make that happen. don't frankly, more do. to We of excited devices the we out we to devices. continue there, more expect And this the are

cost our get on So customer safely these supercharging about logistics and and is to think quickly to on we're I doctors really we excited thing And where and device in that focus and be. they servicing our great, our but focused we business. are effectively one making ability need companies to organ sure

Lee Gold

operating traditional EVA the question costs to of what is Do Blades in how last Our compare are expect this complete and the future? a helicopters? does EVA of by you replacement see helicopters with

Robert Wiesenthal

question. great A common question, a

a take me tack at it. Let

the transportation We're X the Blade competitive all X ground. with competitive by-the-seat that of cost since day, ground. market. way the Right New do we vertical for purchase started end to it's we in at believe costs look, airport doesn't really in in pass, or York, is years, with now, airport in early the So an When a competition where is are have about XXX of electric we competitive. operating an seat, the the frankly, of of it comes And operating cost $XX same, the go take time fact will much every the the pair overall, before more be operating investors for quiet down. will opportunity and be that costs a so plant, less, our landing brand-new the that really they're zones is in focused the will cost because some it that business fact unlock aircraft place the But pretty of much maybe is places great emission-free, cost more will vertical land. big on not slightly those to about go down. the they're -- the for there Blade. is But and

many the these is capture aircraft the these when zones where have take both because of a landing can business open are some and right So ours of can have more X strategy can, a lot air pounds now, a It's we new that EVA our There'll cohabitation while, like different be or these to as customers, becomes, the take up to conditioning. our vertical bigger going aircraft X,XXX available, aircraft people landing roots and preexisting zones phase have of phase including don't expect can a portfolio an our like even air transportation cohabitation helicopters. can't take conventional we options, but the

Lee Gold

our I'll question-and-answer Rob. At turn to back This session. concludes call this the time,

Robert Wiesenthal

a position public profitability company of this we year investors our for been basis have long of proud our I as of to I we've adjusted profitability you, confidence to a be that road -- has Lee. can't now in public in of of first XXXX. am -- the guidance -- can't dollars on terms millions how double-digit this EBITDA overemphasize year and since gone for Thank give to be the I dollars

said forward as cannot call take look good this about support. news before, appreciate lightly, we and feel go this forward to everyone we on and further So We as we it. I encouraging

Operator

and gentlemen, you participating. today's This thank for Ladies concludes program.

disconnect. now may You

Blade Air Mobility (BLDE) 12 Mar 242023 Q4 Earnings call transcript