Stonegate Capital Partners Updates Coverage On Surf Air Mobility Inc. (NYSE: SRFM) 1Q26

<p class='reportable-dateline'><strong>DALLAS, TX -- MAY 13, 2026</strong></p><p class='reportable-excerpt'>DALLAS, TX -- May 13, 2026 -- Surf Air Mobility Inc. (NYSE: SRFM): Stonegate Capital Partners Updates Coverage on Surf Air Mobility Inc. (NYSE: SRFM). SRFM’s 1Q26 results showed continued execution under the transformation plan, with revenue of $25.6M at the high end of guidance and up 9% y/y, while adjusted EBITDA loss of $12.3M outperformed guidance for a loss of $15.5M to $13.5M. Results were supported by improved On Demand private charter margins, cost controls across airline operations, and faster, more cost-efficient SurfOS development and deployment.</p><p>To view the full announcement, including downloadable images, bios, and more, <a href='https://stonegateinc.reportablenews.com/pr/stonegate-capital-partners-updates-coverage-on-surf-air-mobility-inc-nyse-srfm-1q26' class='reportable-link'>click here</a>.</p><div class='reportable-key-takeaways'><h3>Key Takeaways:</h3><ul><li>Transformation plan is beginning to show operating leverage. 1Q26 revenue of $25.6M came in at the high end of guidance, while adjusted EBITDA loss of $(12.3)M beat guidance, supported by route rationalization, On Demand margin expansion, and tighter cost controls.</li><li>On Demand and SurfOS are becoming the core growth/margin drivers. Surf On Demand revenue increased 77% y/y to $10.1M, with revenue per flight up 38% and gross margin up ~340 bps, while BrokerOS and OperatorOS traction suggest SurfOS is moving toward a commercial software platform.</li><li>FY26 setup improved as guidance de-risked and valuation remains discounted. Management maintained FY26 revenue guidance of $128M–$138M and improved adjusted EBITDA loss guidance by ~40%, while SRFM trades at 1.3x FY27 EV/Revenue versus comps at 2.4x, supporting potential multiple re-rating if execution continues.</li></ul></div><a href='https://stonegateinc.reportablenews.com/pr/stonegate-capital-partners-updates-coverage-on-surf-air-mobility-inc-nyse-srfm-1q26'><img src='https://cdn.filestackcontent.com/51dKuvUTFG6OEcJujq1T' class='reportable-featured-image' /><p align='center'><i>Click image above to view full announcement.</i></p></a><hr class='company-boilerplate-rule' style='border: 0; border-top: 1px solid rgba(0,0,0,0.1);'><p class='company-boilerplate'><p><strong>About Stonegate</strong></p><p>Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking, equity research and capital raising for public and private companies.</p></p><div class='reportable-contacts'><h3>Contacts:</h3><p class='reportable-contact'>Stonegate Capital Partners<br>(214) 987-4121 <br><a href='mailto:info@stonegateinc.com'>info@stonegateinc.com</a></p></div><p>Source: <a href='https://stonegateinc.reportablenews.com/'>Stonegate, Inc.</a></p><p>Distributed by: <a href='https://reportablenews.com'>Reportable, Inc.</a></p>