Stonegate Capital Partners Updates Coverage On Surf Air Mobility Inc. (NYSE: SRFM) Q425
<p class='reportable-dateline'><strong>DALLAS, TX -- April 22, 2026</strong></p><p class='reportable-excerpt'>DALLAS, TX -- April 22th, 2026 -- Surf Air Mobility Inc. (NYSE: SRFM): Stonegate Capital Partners Updates Coverage on Surf Air Mobility Inc. (NYSE: SRFM). SRFM’s FY25 results suggest the company is emerging from restructuring with a stable operating base and a clearer path to growth. Fullyear revenue of $106.6M met the company’s raised outlook, while adjusted EBITDA loss improved to $41.7M on better airline operations, a stronger charter mix, and continued execution under the transformation plan. Net debt also declined 47% y/y to $74M, supported by capital actions and convertible note conversion. In 4Q25, SRFM reported revenue of $26.4M and an adjusted EBITDA loss of just under $8M, both within guidance despite pressure from exiting unprofitable scheduled routes. Overall, the quarter reinforced continued progress in the transformation heading into 2026.</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-q425' class='reportable-link'>click here</a>.</p><div class='reportable-key-takeaways'><h3>Key Takeaways:</h3><ul><li>Restructuring is starting to show up in cleaner operating execution and a more credible path to growth: FY25 revenue met the raised outlook, adjusted EBITDA loss improved materially, and net debt fell 47% y/y, suggesting SRFM is moving out of stabilization mode and into a more investable recovery story.</li><li>Airline mix is improving, not just revenue: On Demand grew 36% as SRFM shifted away from unprofitable routes toward better charter mix and execution.</li><li>Software and electrification are the upside levers: SurfOS and the BETA partnership add credible optionality, but FY26 execution and back-half growth matter most.</li></ul></div><a href='https://stonegateinc.reportablenews.com/pr/stonegate-capital-partners-updates-coverage-on-surf-air-mobility-inc-nyse-srfm-q425'><img src='https://cdn.filestackcontent.com/cJNXRHCTmqTdhjc7nPXw' 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'><div><strong>About Stonegate</strong></div><div>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.</div></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>