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BLDE

Blade Air Mobility NasdaqCM:BLDE Stock Report

Last Price

US$4.23

Market Cap

US$302.2m

7D

0.7%

1Y

-59.0%

Updated

28 Sep, 2022

Data

Company Financials +

Blade Air Mobility Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Blade Air Mobility
Historical stock prices
Current Share PriceUS$4.23
52 Week HighUS$11.59
52 Week LowUS$3.85
Beta0.40
1 Month Change-19.28%
3 Month Change-5.16%
1 Year Change-58.97%
3 Year Changen/a
5 Year Changen/a
Change since IPO-56.62%

Recent News & Updates

Sep 21

Blade: The Future Of Urban Air Mobility

Summary Blade is one of my favorite eVTOL stocks to buy now before the 2024 Urban Air Mobility boom. The company hit record Q2 2022 revenue and continues to grow its market share through domestic expansion and acquisitions. Blade made a movie cameo in Uncut Gems starring Adam Sandler and Kevin Garnett. Buying stocks with major movie cameos could lead to hypergrowth gains. Blade Air Mobility, Inc. (BLDE) is my favorite cheap eVTOL (electric vertical take-off and landing) stock that could soar to the moon in 2024. The urban air mobility movement is still in its infancy as eVTOL makers such as Joby Aviation (JOBY), Lilium (LILM), Vertical Aerospace (EVTL), and Archer Aviation (ACHR) work diligently on electric aircrafts. While most eVTOL companies are currently generating zero revenue, Blade is one of the bright spots with an early jumpstart on the industry. I rarely see cheap growth stocks with as much as opportunity as Blade has. This could be one of the best buys of the decade and now BLDE shares are trading at just around $4. In this article, I'll provide an overview of Blade and share why I'm so bullish on this company. Blade's Massive Revenue Growth Blade was founded in 2014 by Robert Wiesenthal, who wanted to build an air mobility platform that would help ease traffic within major cities. Commuters can book a Blade flight on the company's app in the United States, Canada, Europe, and India. Blade's Global Footprint (blade.com) The company generated $37.5 million in Q2 2022 revenue (Up 175%) and net income hit $8.4 million for the quarter. Blade Q2 2022 results (blade.com) Blade's business model is made up of 3 different categories: short distance flights, organ transports, and jet flights. Blade Business Overview (blade.com) Here's a break of Q2 2022 performance by revenue source: Short Distance Flights: Q2 2022 revenue increased 89% to $11 million MediMobility Organ Transport: Q2 2022 revenue increased 1,013% to $17.2 million Jet Flights: Q2 2022 Revenue increased 32% to $7.4 million. Short Distance flights represents the largest revenue opportunity as Blade scales its UAM (urban air mobility) network and adds more customers. The recent acquisition of Heljet will help increase revenue, plus I believe more people will use Blade's platform in the future. Blade's MediMobility Organ Transport division, which is the largest dedicated air transporter of human organs for transplant in the United States, continues to grow its client base and is now serving a total of 59 transplant centers and organ procurement organizations across America. Jet flight revenue has increased alongside growing demand as more people travel due to lower COVID-19 risk + eased travel restrictions. My Bullish Take on Blade Traffic congestion is a huge problem. Every major city in the world deals with too many cars on the road, making travel a headache for many commuters. What if you could save countless hours by skipping traffic and reach your destination in a fraction of the time? The Late NBA Legend Kobe Bryant was a huge fan of UAM and regularly flew in helicopters to beat LA"s traffic jams. He was well ahead of his time and I believe more commuters will use urban aircrafts in the future. Right now, Blade doesn't have any eVTOLs in its fleet because most eVTOL makers have yet to launch electric aircrafts. The company plans to add electric aircrafts in 2024 as the technology improves. Blade eVTOL transition (blade.com) BLDE stock trades at a price to sales ratio of 4, the lowest point I've ever seen since the company went public. With so much fear in the markets due to rising interest rates, I'm buying as many BLDE shares as I can get my hands on in anticipation of 2024's eVTOL gold rush. Blade's Cameo in Uncut Gems A Blade helicopter was featured in the 2019 movie "Uncut Gems" featuring Adam Sandler and NBA Hall of Famer Kevin Garnett. During the scene, Adam Sandler sends his girlfriend, Julia, to place a parlay bet on Kevin Garnett at a New York casino. In order to save time and avoid traffic, she takes a Blade aircraft directly to the casino and places the bet just seconds before the betting closes. Investing in small companies that have been featured in films could make you a fortune if the past repeats itself. A Tesla roadster made an appearance in the 2010 movie "Little Fockers" in 2010. Owen Wilson's character referred to Tesla as "ecofriendly." Apple (AAPL) was mentioned in the 1994 movie "Forrest Gump." Tom Hank's character Forrest Gump received a letter from business partner Lieutenant Dan about an investment as "some fruit company." These examples will resonate with me forever, and I'm still kicking myself for not paying close attention to Hollywood's foreshadowing tactics.

Aug 24

Blade Air Mobility: Do Not Fear The Blade

Summary Blade Air Mobility, Inc. has had abysmal stock returns and is well below its IPO price. Blade is poised to benefit from the commercialization of Electric Vertical Aircraft, and its business strategy focuses on capitalizing on the adoption. Blade has continued to grow and management has shown confidence in their M&A strategy. Blade is attractively valued and deserves investors' attention at this price point. Thesis Blade Air Mobility, Inc. (BLDE) ("BLADE") is a company that should be of interest to investors. We believe that the commercialization and adoption of Electric Vertical Aircraft is a huge catalyst for the company's future growth, and we have liked management's current strategic execution and recent financial performance. We think that BLADE provides a favorable risk reward proposition at current levels. Company Overview BLADE is an "Urban Air Mobility" company that provides transportation services between various cities in the United States. For example, BLADE provides 5-minute-long helicopter transportation services between Manhattan and JFK Airport for prices starting at $195. BLADE offers similar services in various other routes, such as helicopters and seaplane rides between Manhattan and Hamptons destinations, and also operates private charters. BLADE went public through a SPAC on May 10, 2021 at a valuation of $825 million, and since then, the company's stock price has fallen precipitously and now the valuation hovers at around ~$360 million. BLADE also has $258 million cash and short-term assets on hand, and has access to ample liquidity. BLDE data by YCharts Urban Air Mobility Strategy BLADE management has a clear strategic goal in mind of becoming the leading player in Urban Air Mobility. The company expects Electric Vertical Aircraft to become commercialized in 2024, and managements believes that Electric Vertical Aircraft will revolutionize transportation by offering a quick, efficient, and affordable transportation option for many consumers. BLADE believes that with its brand recognition, loyal customer base, and technology platforms, the company will become the go-to leader in the Urban Air Mobility space. In addition, BLADE has worked hard to secure partnerships with Electric Vertical Aircraft manufacturers like Airbus, so that BLADE can become the platform partner of choice for these manufacturers. We believe the partnerships will be pivotal to the company's long-term business strategy, and at the current time, we believe that BLADE's platform is poised to benefit from the commercialization of Electric Vertical Aircrafts. BLADE Earnings Presentation Strong Financial Growth BLADE has been able to continue to consistently grow its revenue and other key performance metrics. The company has been growing its revenue on a quarterly basis, and compared to the same quarter last year, the company grew its revenue by a whopping 175% YoY, partly attributable to recent acquisitions. Organic growth has also been strong as well. With a $107.2 million TTM revenue, the company is roughly trading at around ~3x its TTM revenue, which is low multiple for a business that is growing its revenue at a 175% YoY clip. BLADE Earnings Presentation In addition, when segmenting the revenue growth by business lines, we see strong growth on all of BLADE's revenue segments. Most notably, short distance flights have seen a 89% YoY growth, and the medical segment has seen an absurd 1,013% YoY growth as a result of the Trinity Air acquisition. Management has cited that the medical segment has grown as a result of "new hospital clients and growth with existing accounts." We believe that there are many interesting potential applications of the type of transportation that BLADE offers, and we believe the foray into medical transportation (i.e., transportation of organs, etc.) is an example of such application.

Shareholder Returns

BLDEUS AirlinesUS Market
7D0.7%-5.9%-2.0%
1Y-59.0%-38.0%-20.3%

Return vs Industry: BLDE underperformed the US Airlines industry which returned -40.3% over the past year.

Return vs Market: BLDE underperformed the US Market which returned -22.1% over the past year.

Price Volatility

Is BLDE's price volatile compared to industry and market?
BLDE volatility
BLDE Average Weekly Movement7.5%
Airlines Industry Average Movement6.7%
Market Average Movement6.9%
10% most volatile stocks in US Market15.8%
10% least volatile stocks in US Market2.8%

Stable Share Price: BLDE is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: BLDE's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2014103Rob Wiesenthalhttps://www.blade.com

Blade Air Mobility, Inc. provides air transportation alternatives to the congested ground routes in the United States. It provides its services through charter and by-the-seat flights using helicopters, jets, turboprops, and amphibious seaplanes. The company was founded in 2014 and is headquartered in New York, New York.

Blade Air Mobility Fundamentals Summary

How do Blade Air Mobility's earnings and revenue compare to its market cap?
BLDE fundamental statistics
Market CapUS$302.16m
Earnings (TTM)US$28.93m
Revenue (TTM)US$138.51m

10.4x

P/E Ratio

2.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
BLDE income statement (TTM)
RevenueUS$138.51m
Cost of RevenueUS$119.01m
Gross ProfitUS$19.50m
Other Expenses-US$9.42m
EarningsUS$28.93m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.40
Gross Margin14.08%
Net Profit Margin20.88%
Debt/Equity Ratio0%

How did BLDE perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is BLDE undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BLDE?

Other financial metrics that can be useful for relative valuation.

BLDE key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.4x
Enterprise Value/EBITDA-1.1x
PEG Ratio0.4x

Price to Earnings Ratio vs Peers

How does BLDE's PE Ratio compare to its peers?

BLDE PE Ratio vs Peers
The above table shows the PE ratio for BLDE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average36.8x
HRBR Harbor Diversified
1.6xn/aUS$115.5m
SNCY Sun Country Airlines Holdings
104.6x102.1%US$861.1m
SKYW SkyWest
10x11.4%US$853.9m
ALGT Allegiant Travel
31x88.6%US$1.4b
BLDE Blade Air Mobility
10.4x26.0%US$302.2m

Price-To-Earnings vs Peers: BLDE is good value based on its Price-To-Earnings Ratio (10.4x) compared to the peer average (36.8x).


Price to Earnings Ratio vs Industry

How does BLDE's PE Ratio compare vs other companies in the Global Airlines Industry?

Price-To-Earnings vs Industry: BLDE is expensive based on its Price-To-Earnings Ratio (10.4x) compared to the Global Airlines industry average (10x)


Price to Earnings Ratio vs Fair Ratio

What is BLDE's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BLDE PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio10.4x
Fair PE Ratio12.8x

Price-To-Earnings vs Fair Ratio: BLDE is good value based on its Price-To-Earnings Ratio (10.4x) compared to the estimated Fair Price-To-Earnings Ratio (12.8x).


Share Price vs Fair Value

What is the Fair Price of BLDE when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate BLDE's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate BLDE's fair value for valuation analysis.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.


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Future Growth

How is Blade Air Mobility forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

Future Growth Score

5/6

Future Growth Score 5/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


26.0%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BLDE's forecast earnings growth (26% per year) is above the savings rate (1.9%).

Earnings vs Market: BLDE's earnings (26% per year) are forecast to grow faster than the US market (14.8% per year).

High Growth Earnings: BLDE's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: BLDE's revenue (23.7% per year) is forecast to grow faster than the US market (7.6% per year).

High Growth Revenue: BLDE's revenue (23.7% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BLDE is forecast to be unprofitable in 3 years.


Discover growth companies

Past Performance

How has Blade Air Mobility performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


259.5%

Last years revenue growth

Earnings and Revenue History

Quality Earnings: BLDE has high quality earnings.

Growing Profit Margin: BLDE became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: BLDE has become profitable over the past 5 years.

Accelerating Growth: BLDE has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: BLDE has become profitable in the last year, making it difficult to compare its past year earnings growth to the Airlines industry (0.7%).


Return on Equity

High ROE: BLDE's Return on Equity (9.9%) is considered low.


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Financial Health

How is Blade Air Mobility's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: BLDE's short term assets ($278.2M) exceed its short term liabilities ($18.5M).

Long Term Liabilities: BLDE's short term assets ($278.2M) exceed its long term liabilities ($13.4M).


Debt to Equity History and Analysis

Debt Level: BLDE is debt free.

Reducing Debt: BLDE had no debt 5 years ago.

Debt Coverage: BLDE has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: BLDE has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


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Dividend

What is Blade Air Mobility current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Blade Air Mobility Dividend Yield vs Market
How does Blade Air Mobility dividend yield compare to the market?
SegmentDividend Yield
Company (Blade Air Mobility)n/a
Market Bottom 25% (US)1.6%
Market Top 25% (US)4.6%
Industry Average (Airlines)3.5%
Analyst forecast in 3 Years (Blade Air Mobility)0%

Notable Dividend: Unable to evaluate BLDE's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate BLDE's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if BLDE's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if BLDE's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as BLDE has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

2.8yrs

Average management tenure


CEO

Rob Wiesenthal (55 yo)

1.33yrs

Tenure

US$2,926,548

Compensation

Mr. Robert S. Wiesenthal, also known as Rob, has been an Independent Director of TripAdvisor Inc. since December 7, 2011. He has been Founder and Chief Executive Officer of BLADE Air Mobility, Inc. since J...


CEO Compensation Analysis

Rob Wiesenthal's Compensation vs Blade Air Mobility Earnings
How has Rob Wiesenthal's remuneration changed compared to Blade Air Mobility's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

US$29m

Mar 31 2022n/an/a

-US$4m

Dec 31 2021US$3mUS$129k

US$3m

Sep 30 2021n/an/a

-US$40m

Jun 30 2021n/an/a

-US$32m

Mar 31 2021n/an/a

-US$9m

Dec 31 2020n/an/a

-US$8m

Sep 30 2020US$555kUS$350k

-US$10m

Sep 30 2019US$1mUS$350k

-US$11m

Compensation vs Market: Rob's total compensation ($USD2.93M) is about average for companies of similar size in the US market ($USD2.92M).

Compensation vs Earnings: Rob's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: BLDE's management team is considered experienced (2.8 years average tenure).


Board Members

Experienced Board: BLDE's board of directors are not considered experienced ( 1.3 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: BLDE insiders have only sold shares in the past 3 months.


Recent Insider Transactions

NasdaqCM:BLDE Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
14 Sep 22SellUS$239,440Brandon KeeneIndividual50,000US$5.00
16 Aug 22SellUS$25,160Amir CohenIndividual4,000US$6.29
16 Aug 22SellUS$403,066Lerer Hippeau Ventures Management, LLCCompany63,856US$6.34
12 Aug 22SellUS$1,707,608Lerer Hippeau Ventures Management, LLCCompany264,000US$6.51
06 Jun 22SellUS$471,520Lerer Hippeau Ventures Management, LLCCompany66,869US$7.08
02 Jun 22SellUS$2,050,379Lerer Hippeau Ventures Management, LLCCompany281,303US$7.34
26 May 22SellUS$1,143,234Kenneth LererIndividual162,460US$7.11
26 May 22SellUS$2,168,682Lerer Hippeau Ventures Management, LLCCompany308,233US$7.11

Ownership Breakdown

What is the ownership structure of BLDE?
Owner TypeNumber of SharesOwnership Percentage
Hedge Funds7,876,45311.0%
VC/PE Firms7,923,00011.1%
Individual Insiders9,679,66313.6%
General Public14,378,01020.1%
Institutions31,574,97744.2%

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.9%.


Top Shareholders

Top 25 shareholders own 77.27% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
11.09%
KSL Advisors, LLC
7,923,000$33.5m0%100%
11.03%
HG Vora Capital Management, LLC
7,876,453$33.3m0%1.34%
11%
ARK Investment Management LLC
7,854,472$33.2m-6.23%0.22%
7.22%
DigitalBridge Operating Co. LLC
5,153,835$21.8m0%6.57%
6.9%
Nikko Asset Management Co., Ltd.
4,927,535$20.8m1.04%0.01%
6.86%
Robert Wiesenthal
4,900,685$20.7m0.15%no data
5.19%
BlackRock, Inc.
3,709,408$15.7m327.32%no data
4.32%
David Zaslav
3,085,478$13.1m0%no data
3.86%
The Vanguard Group, Inc.
2,758,361$11.7m1.02%no data
2.56%
State Street Global Advisors, Inc.
1,829,378$7.7m-36.64%no data
1.33%
Geode Capital Management, LLC
950,792$4.0m113.12%no data
1.03%
ETF Managers Group LLC
737,325$3.1m-10.67%0.08%
0.65%
Thomas Barrack
463,844$2.0m0%no data
0.65%
Northern Trust Global Investments
463,311$2.0m476.64%no data
0.6%
Eric Affeldt
430,964$1.8m-31.39%no data
0.52%
AJ Wealth Strategies, LLC
372,662$1.6m0%0.08%
0.38%
William Heyburn
268,835$1.1m1.12%no data
0.34%
Brandon Keene
241,880$1.0m-16.74%no data
0.33%
Susquehanna International Group, LLP, Asset Management Arm
234,727$992.9k-35.63%no data
0.3%
Teachers Insurance and Annuity Association-College Retirement Equities Fund
212,387$898.4k0%no data
0.27%
Quinn Opportunity Partners LLC
193,061$816.6k-39.02%0.08%
0.23%
Intellectus Partners, LLC
162,215$686.2k0%0.23%
0.21%
BNY Mellon Asset Management
153,533$649.4k782.68%no data
0.21%
Melissa Tomkiel
152,810$646.4k2.76%no data
0.2%
Citadel Advisors LLC
142,106$601.1k95.67%no data

Company Information

Blade Air Mobility, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Blade Air Mobility, Inc.
  • Ticker: BLDE
  • Exchange: NasdaqCM
  • Founded: 2014
  • Industry: Airlines
  • Sector: Transportation
  • Implied Market Cap: US$302.158m
  • Shares outstanding: 71.43m
  • Website: https://www.blade.com

Number of Employees


Location

  • Blade Air Mobility, Inc.
  • 499 East 34th Street
  • New York
  • New York
  • 10016
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BLDENasdaqCM (Nasdaq Capital Market)YesClass A Common StockUSUSDNov 2019

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/28 00:00
End of Day Share Price2022/09/28 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.