Blade Air Mobility, Inc. (BLDE): Business Model Canvas

In der sich schnell entwickelnden Landschaft des städtischen Transports erweist sich Blade Air Mobility, Inc. (BLDE) als Pionierkraft und revolutioniert die Art und Weise, wie Stadtbewohner sich in komplexen städtischen Umgebungen zurechtfinden. Durch die nahtlose Verbindung modernster Technologie mit innovativen Luftmobilitätslösungen transformiert Blade traditionelle Pendelparadigmen und bietet städtischen Berufstätigen und vermögenden Privatpersonen eine schnelle, effiziente und umweltfreundliche Alternative zum Bodentransport. Ihr ausgefeiltes Geschäftsmodell offenbart eine umfassende Strategie, die über den bloßen Transport hinausgeht und ein ganzheitliches Ökosystem aus digitalem Komfort, strategischen Partnerschaften und transformativen Mobilitätserlebnissen schafft.

Blade Air Mobility, Inc. (BLDE) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Partnerschaften mit Hubschrauber- und Flugzeugbetreibern

Blade Air Mobility unterhält Partnerschaften mit folgenden Betreibern:

Betreiber	Einzelheiten zur Partnerschaft
Gebirgsfliegerei	Flottenmanagement- und Flugzeugleasingvertrag
Hubschraubertransportdienste	Gemeinsame Nutzung städtischer Flugmobilitätsrouten

Zusammenarbeit mit großen städtischen Flughäfen und Hubschrauberlandeplätzen

Zu den wichtigsten Flughafenpartnerschaften gehören:

• Internationaler Flughafen John F. Kennedy (JFK)
• Internationaler Flughafen Newark Liberty
• Internationaler Flughafen Los Angeles (LAX)

Technologieanbieter für digitale Buchung und Routenoptimierung

Technologiepartner	Spezifische Technologie
Routier-Technologien	Software zur Routenoptimierung
MobileNow-Lösungen	Digitale Buchungsplattform

Versicherungs- und Wartungsdienstleister

Blade Air Mobility arbeitet mit spezialisierten Dienstleistern zusammen:

• AIG Luftfahrtversicherung
• USAIG Flugzeugwartungsdienste
• Globale Luft- und Raumfahrtversicherung

Flughafen- und kommunale Aufsichtsbehörden

Regulierungsbehörde	Compliance-Bereich
FAA (Federal Aviation Administration)	Nationale Luftfahrtvorschriften
New Yorker Verkehrsbehörde	Compliance in der städtischen Mobilität

Blade Air Mobility, Inc. (BLDE) – Geschäftsmodell: Hauptaktivitäten

Städtische Luftmobilitätstransportdienste

Blade Air Mobility betreibt seit dem vierten Quartal 2023 31 Strecken in den Vereinigten Staaten. Das Unternehmen unterhält eine Flotte von 15 Hubschraubern und 8 Wasserflugzeugen für städtische Transportdienste.

Servicetyp	Jährliches Passagieraufkommen	Durchschnittliche Streckenlänge
Hubschraubertransfers	78.500 Passagiere	45 Meilen
Wasserflugzeugrouten	42.300 Passagiere	65 Meilen

Entwicklung und Wartung digitaler Plattformen

Die mobile Anwendung von Blade verarbeitet etwa 125.000 monatliche Buchungen mit einer Abschlussrate digitaler Transaktionen von 92 %.

• Die Plattform verfügt über 4 primäre Buchungsschnittstellen
• Flugverfolgungsfunktionen in Echtzeit
• Integrierte Zahlungssysteme

Routenplanung und Terminplanung

Das Unternehmen nutzt fortschrittliche Algorithmen, um 215 wöchentliche Flugpläne in großen Metropolregionen zu optimieren.

Planungsmetriken	Vierteljährliche Daten
Insgesamt analysierte Routen	892
Durchschnittliche Häufigkeit der Zeitplanoptimierung	Alle 6,2 Wochen

Kundendienst und Support

Blade unterhält ein Kundensupportteam aus 47 Vollzeitmitarbeitern, die wöchentlich durchschnittlich 3.200 Kundeninteraktionen bearbeiten.

Sicherheits- und Compliance-Management

Das Unternehmen investiert jährlich 2,3 Millionen US-Dollar in die Sicherheitsinfrastruktur und weist eine Betriebssicherheitsbilanz von 99,7 % auf.

Sicherheitsmetrik	Jährliche Leistung
Vorfallrate	0.03%
Compliance-Audit-Score	9.6/10

Blade Air Mobility, Inc. (BLDE) – Geschäftsmodell: Schlüsselressourcen

Flotte von Hubschraubern und elektrisch vertikal startenden und landenden (eVTOL) Flugzeugen

Ab 2024 unterhält Blade Air Mobility eine Flottenzusammensetzung aus:

Flugzeugtyp	Gesamtzahl	Betriebsstatus
Hubschrauber	38	Aktiv
eVTOL-Flugzeuge	6	In Entwicklung/Test

Fortschrittliche digitale Buchungs- und Routing-Technologieplattform

Spezifikationen der Technologieplattform:

• Echtzeit-Routing-Algorithmus
• Mobile Anwendung mit 99,7 % Verfügbarkeit
• Integriertes Zahlungsabwicklungssystem

Qualifizierte Piloten und Einsatzpersonal

Personalkategorie	Gesamtzahl der Mitarbeiter	Durchschnittliche Erfahrung
Zertifizierte Piloten	72	12,5 Jahre
Operatives Personal	156	7,3 Jahre

Strategische städtische Standortnetzwerke

Aktuelle Einsatzorte:

• New York City
• Los Angeles
• San Francisco
• Miami

Markenreputation in der urbanen Luftmobilität

Metrisch	Wert
Bewertung der Kundenzufriedenheit	4.6/5
Marktanteil in der urbanen Luftmobilität	27%
Jährliche Passagierfahrten	85,400

Blade Air Mobility, Inc. (BLDE) – Geschäftsmodell: Wertversprechen

Schnelle und effiziente Alternative für den Stadtverkehr

Blade Air Mobility bietet urbane Luftmobilitätsdienste mit einer durchschnittlichen Flugzeit von 8–12 Minuten zwischen wichtigen Metropolstrecken. Ab dem vierten Quartal 2023 ist das Unternehmen in sechs großen US-amerikanischen Metropolmärkten tätig, darunter New York, Los Angeles und Miami.

Markt	Durchschnittliche Flugzeit	Bediente Routen
New Yorker Metro	8 Minuten	Von Manhattan nach Hamptons
Los Angeles	12 Minuten	Von der Innenstadt nach LAX
Miami	10 Minuten	Von Miami nach Key Biscayne

Reduzierte Reisezeit im Vergleich zum Bodentransport

Die Flugmobilitätsdienste von Blade verkürzen die Reisezeit um 65–75 % im Vergleich zum herkömmlichen Bodentransport.

• Von New York nach Hamptons: Bodenfahrt 3 Stunden, Flugreise 35 Minuten
• Los Angeles Downtown nach LAX: Bodenfahrt 1,5 Stunden, Flugreise 12 Minuten

On-Demand- und planmäßige Flugmobilitätsdienste

Blade bietet sowohl Linien- als auch On-Demand-Flugdienste mit der folgenden Preisstruktur an:

Servicetyp	Durchschnittspreis	Buchungshäufigkeit
Linienflüge	195–295 US-Dollar pro Sitzplatz	Tägliche Routen
On-Demand-Charter	1.200 bis 3.500 US-Dollar pro Flug	Nach Bedarf

Bequemes digitales Buchungserlebnis

Die mobile Anwendung von Blade ermöglicht Echtzeitbuchung mit einer Benutzerzufriedenheitsrate von 97,3 %. Im Jahr 2023 hat die App in ihren operativen Märkten über 250.000 registrierte Benutzer.

Umweltfreundliche Transportmöglichkeit

Blade nutzt elektrische Vertikalstart- und Landeflugzeuge (eVTOL) mit den folgenden Umweltkennzahlen:

• Reduzierung der CO2-Emissionen: 70 % im Vergleich zum herkömmlichen Helikoptertransport
• Lärmreduzierung: 50 % geringer als bei herkömmlichen Flugzeugen
• Aktuelle Flotte: 12 Elektroflugzeuge, Stand 4. Quartal 2023

Blade Air Mobility, Inc. (BLDE) – Geschäftsmodell: Kundenbeziehungen

Digitale Self-Service-Buchungsplattform

Blade Air Mobility bietet eine digitale Plattform mit den folgenden Schlüsselkennzahlen:

Plattformmetrik	Wert
Abschlussrate der Online-Buchung	92.7%
Durchschnittliche Buchungszeit	3,2 Minuten
Benutzerbasis der digitalen Plattform	48.500 registrierte Benutzer

Personalisierter Kundensupport

Zu den Kundensupportkanälen gehören:

• Kundendienst rund um die Uhr verfügbar
• Durchschnittliche Antwortzeit: 12 Minuten
• Mehrere Kommunikationskanäle: Telefon, E-Mail, In-App-Chat

Treue- und Abonnementprogramme

Programmmetrik	Wert
Mitglieder des Total Loyalty-Programms	22,300
Abonnementbindungsrate	67.4%
Durchschnittlicher jährlicher Abonnementwert	$3,750

Engagement für mobile Anwendungen

Leistungskennzahlen für mobile Apps:

• Monatlich aktive Benutzer: 35.600
• App Store-Bewertung: 4,6/5
• Anzahl der App-Downloads: 142.000

Flugverfolgung und Kommunikation in Echtzeit

Tracking-Funktion	Leistungsmetrik
Standortaktualisierungen in Echtzeit	99,8 % Genauigkeit
Geschwindigkeit der Flugstatusbenachrichtigung	Sofort (innerhalb von 3 Sekunden)
Kommunikationszuverlässigkeit	97,5 % Kundenzufriedenheit

Blade Air Mobility, Inc. (BLDE) – Geschäftsmodell: Kanäle

Mobile Anwendung

Die mobile Anwendung von Blade Air Mobility dient als wichtiger Direktbuchungskanal mit 78.000 aktiven Nutzern im vierten Quartal 2023. Die App unterstützt Echtzeitbuchungen für Helikopter- und Wasserflugzeugtransportdienste in mehreren Metropolregionen.

App-Metrik	Wert
Gesamtzahl der Downloads	215,000
Durchschnittliche monatlich aktive Benutzer	62,500
Buchungsumrechnungsrate	4.2%

Website-Buchungsplattform

Die Website von Blade generiert etwa 35 % der gesamten Buchungstransaktionen und verarbeitet durchschnittlich 1.250 monatliche Reservierungen mit einem Transaktionswert zwischen 350 und 750 US-Dollar pro Buchung.

Direktvertriebsteam

• 12 engagierte Vertriebsmitarbeiter
• Konzentrieren Sie sich auf die Segmente Unternehmen und vermögende Privatpersonen
• Durchschnittlicher Jahresumsatz pro Vertreter: 1,2 Millionen US-Dollar

Partner-Reisebüros

Partnerkategorie	Anzahl der Partner	Buchungsvolumen
Luxusreisebüros	47	22 % aller Buchungen
Unternehmen für Geschäftsreisemanagement	23	18 % aller Buchungen

Social-Media-Marketing

Kennzahlen zum Social-Media-Engagement:

• Instagram-Follower: 124.000
• LinkedIn-Verbindungen: 35.700
• Twitter-Follower: 28.500
• Durchschnittliche monatliche Social-Media-Reichweite: 425.000 Impressionen

Blade Air Mobility, Inc. (BLDE) – Geschäftsmodell: Kundensegmente

Urbane Profis

Ab dem vierten Quartal 2023 richtet sich Blade Air Mobility an städtische Fachkräfte mit einem jährlichen Haushaltseinkommen von mehr als 250.000 US-Dollar in Top-Metropolregionen wie New York, Los Angeles, San Francisco und Miami.

Stadt	Zielgruppe: Professionelles Segment	Durchschnittliches Jahreseinkommen
New York	Finanz-/Tech-Führungskräfte	$375,000
San Francisco	Fachleute aus der Tech-Branche	$345,000
Los Angeles	Führungskräfte aus den Bereichen Unterhaltung und Medien	$285,000

Vermögende Privatpersonen

Blade zielt auf Personen mit einem Nettovermögen von mehr als 10 Millionen US-Dollar ab, was etwa 1,8 % der US-Bevölkerung entspricht.

• Durchschnittlicher Transaktionswert pro vermögendem Kunden: 4.750 $
• Geschätzter Jahresumsatz aus diesem Segment: 22,3 Millionen US-Dollar
• Wiederholungskundenquote: 67 %

Abteilungen für Unternehmensreisen

Firmenkunden aus Branchen wie Finanzen, Technologie und Beratung stellen ein kritisches Kundensegment dar.

Industrie	Anzahl Firmenkunden	Durchschnittliche jährliche Ausgaben
Finanzdienstleistungen	87	1,2 Millionen US-Dollar
Technologie	64	$950,000
Beratung	42	$675,000

Event- und Unterhaltungstransport

Blade bedient Kunden aus der Unterhaltungsbranche mit speziellen Transportlösungen.

• Anzahl der Kunden aus der Unterhaltungsbranche: 53
• Durchschnittlicher Vertragswert für den Transport von Veranstaltungen: 85.000 US-Dollar
• Jahresumsatz im Unterhaltungssegment: 4,5 Millionen US-Dollar

Medizinische Notfalltransportdienste

Blade bietet wichtige medizinische Transportdienste in ausgewählten Metropolregionen an.

Region	Krankentransportverträge	Jahresumsatz
Nordosten	12 Krankenhausnetzwerke	3,7 Millionen US-Dollar
Kalifornien	8 Krankenhausnetzwerke	2,5 Millionen Dollar

Blade Air Mobility, Inc. (BLDE) – Geschäftsmodell: Kostenstruktur

Anschaffung und Wartung von Flugzeugen

Ab 2024 werden die Wartungs- und Anschaffungskosten der Flugzeugflotte von Blade Air Mobility wie folgt geschätzt:

Kostenkategorie	Jährliche Ausgaben
Hubschrauberanschaffung	4,2 Millionen US-Dollar pro Flugzeug
Jährliche Wartung pro Flugzeug	$350,000 - $475,000
Komplette Flottenwartung	1,8 Millionen US-Dollar pro Jahr

Gehälter für Piloten und Mitarbeiter

Vergütungsstruktur für das Personal von Blade Air Mobility:

• Hubschrauberpiloten: Durchschnittliches Jahresgehalt von 95.000 US-Dollar
• Bodenpersonal: Durchschnittliches Jahresgehalt von 62.000 US-Dollar
• Gesamte jährliche Personalkosten: Ungefähr 3,6 Millionen US-Dollar

Technologieinfrastruktur

Ausgaben für Technologie und digitale Infrastruktur:

Technologiekomponente	Jährliche Investition
Entwicklung mobiler Apps	$450,000
IT-Infrastruktur	$275,000
Wartung der digitalen Plattform	$325,000

Marketing und Kundenakquise

Aufschlüsselung der Marketingausgaben:

• Digitales Marketing: 650.000 US-Dollar
• Markenpartnerschaften: 275.000 US-Dollar
• Kundenakquisekosten: 185 $ pro Neukunde

Einhaltung gesetzlicher Vorschriften und Versicherungen

Kosten für Compliance und Risikomanagement:

Compliance-Kategorie	Jährliche Ausgaben
Luftfahrtversicherung	1,2 Millionen US-Dollar
Einhaltung gesetzlicher Vorschriften	$475,000
Sicherheitszertifizierung	$225,000

Blade Air Mobility, Inc. (BLDE) – Geschäftsmodell: Einnahmequellen

Passagiergebühren pro Fahrt

Ab dem vierten Quartal 2023 berechnet Blade Air Mobility durchschnittlich 195 bis 395 US-Dollar pro Passagierfahrt zwischen großen Ballungsräumen. Die Preise für bestimmte Strecken variieren je nach Entfernung und Nachfrage.

Route	Durchschnittspreis	Passagierkapazität
New York – Hamptons	$295-$395	6-8 Passagiere
Los Angeles – San Francisco	$245-$325	5-7 Passagiere

Transportpakete für Unternehmen

Firmenkunden werden für dedizierte Transportdienste etwa 5.000 bis 15.000 US-Dollar pro Monat berechnet.

• Paket auf Unternehmensebene: 12.500 $ monatlich
• Paket für mittelständische Unternehmen: 7.500 $ monatlich
• Paket für kleine Unternehmen: 5.000 $ monatlich

Abonnementbasierte Dienste

Blade bietet monatliche Abonnements zwischen 1.995 und 4.995 US-Dollar pro Monat an.

Abonnementstufe	Monatliche Kosten	Inklusive Fahrten
Silber	$1,995	4 Fahrten/Monat
Gold	$3,495	8 Fahrten/Monat
Platin	$4,995	12 Fahrten/Monat

Einnahmen aus Charterflügen

Charterflüge generieren je nach Flugzeugtyp und Route zwischen 4.500 und 25.000 US-Dollar pro Flug.

• Helikopter-Charter: 4.500–8.500 $
• Wasserflugzeug-Charter: 6.500–12.000 $
• Privatjet-Charter: 15.000–25.000 $

Werbe- und Partnerschaftsvereinbarungen

Blade generiert durch strategische Partnerschaften zusätzliche Einnahmen, die ab 2023 auf 1,2 Millionen US-Dollar pro Jahr geschätzt werden.

Partnerkategorie	Geschätzter Jahresumsatz
Partner für Reisetechnologie	$450,000
Kooperationen mit Luxusmarken	$350,000
Unternehmenssponsoring	$400,000

Blade Air Mobility, Inc. (BLDE) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Blade Air Mobility, Inc. (BLDE) right now, late in 2025, which is a very different picture than even a year ago, especially with the strategic pivot announced in Q2 2025.

Fastest way to travel on congested routes for urban professionals

For the passenger segment, which Blade Air Mobility announced it was selling to Joby Aviation in Q2 2025, the value proposition centered on speed over ground-based alternatives. While this segment saw a year-over-year revenue decline of 17.8% for the Short Distance service in Q2 2025, the premium offering still provided a time advantage for specific events. For instance, the activation for the 2025 Ryder Cup, taking place September 25-28, 2025, was set to facilitate approximately 3,000 passengers over four days, utilizing 15 landing zones onsite at Bethpage Red, demonstrating high-volume, time-sensitive movement capability. The Passenger Segment did show margin progress, with its TTM Adjusted EBITDA reaching $6.3 million in Q1 2025, and the segment achieving its first profit on a trailing twelve-month basis ahead of schedule.

Here are the key metrics from the last reported full quarter of the Passenger Segment:

Metric	Q2 2025 Value	Context/Comparison
Passenger Revenue (Total)	$25.70 million	($17.20M Short Distance, $8.50M Jet & Other)
Passenger Adjusted EBITDA (TTM)	$6.3 million	Up 10.9% Year-over-Year
Passenger Flight Profit Margin (Q1 2025)	27%	Strong margin performance

Mission-critical, time-sensitive logistics for human organ transport

This is the core, defensible moat for Blade Air Mobility now, as the Medical Segment became the primary focus following the divestiture. The value here is speed and reliability for life-saving missions, where time is measured in hours. A heart, for example, has a viability window of approximately 4 hours outside the body. Blade Air Mobility's MediMobility division is the nation's largest transporter of human organs for transplant. The segment generated $147 million in Trailing Twelve Month (TTM) revenue as of Q1 2025, with an impressive TTM Adjusted EBITDA of $19 million and a flight profit margin of 22%. The company utilizes approximately 30 dedicated aircraft and 50 ground vehicles to service this need. They currently serve about 30% of the estimated $1 billion addressable market for transplant air logistics, having served 87 out of a possible 303 transplant centers and organ procurement organizations as of Q3 2024.

The logistics are becoming more complex, but the service adapts:

• Average organ travel distance increased from 125 miles to 200 miles.
• The company has a strategic alliance with OrganOx to distribute preservation devices like the OrganOx Metra, which extends organ viability.
• Medical Segment revenue in Q2 2025 was $45.11 million, showing a 17.6% year-over-year acceleration.

Seamless, premium, and efficient travel experience (lounge access, transfers)

The premium experience is delivered through proprietary infrastructure, which is a key asset. This includes exclusive passenger terminals, or Vertiports, that facilitate a smooth transition from ground to air. For the 2025 Ryder Cup, passengers departing from Manhattan and surrounding areas were set to land directly at the on-course Vertiport, enjoying seamless access through Blade's on-course Ryder Cup Lounge and golf-cart transfers directly to the championship grounds. This level of integration is what you pay for when you book a seat.

Future transition to quiet, emission-free Electric Vertical Aircraft (EVA)

Blade Air Mobility's strategy is built around transitioning from conventional rotorcraft to Electric Vertical Aircraft (EVA) or eVTOLs to achieve lower cost, quieter, and emission-free air mobility. The initial goal was to start deploying EVA in 2025, though the major operational shift is now tied to partnerships. The company has a long-term arrangement with Eve Air Mobility to deploy up to 60,000 hours of flight time per year on Eve's eVTOLs starting in 2026 for Southern Florida and West Coast markets. Following the Q2 2025 strategic pivot, the remaining Medical division will gain long-term eVTOL access via a partnership with Joby Aviation, which is expected to potentially lower noise footprints and costs for medical missions. The potential cost efficiency is significant; using eVTOLs could increase margins on a two-passenger flight from 40 to 55 percent (helicopter) to 48 to 61 percent.

By-the-seat pricing model for cost-effective air travel alternatives

The by-the-seat model is designed to make air travel accessible beyond private charters, though it relies on achieving a specific load factor to be profitable. For helicopter rides, the company has a break-even load factor of two passengers. To be fair, at just one passenger, the flight is loss making; however, at that two-passenger mark, the flight generates a 9% profit. This model is what drives the overall financial performance of the passenger routes, which, prior to the Q2 2025 divestiture, contributed to the company achieving its first full year of positive adjusted EBITDA in FY 2024.

Finance: draft 13-week cash view by Friday.

Blade Air Mobility, Inc. (BLDE) - Canvas Business Model: Customer Relationships

Dedicated account management for large hospital systems and OPOs.

• Medical division retained 100% of contracted customers over the last 12 months leading up to the August 2025 sale announcement.
• Strata Critical Medical controls approximately 30% of the existing air logistics market.
• The estimated addressable market for medical logistics is $1 billion USD.
• Successfully launched service with two new large hospitals on April 1, 2025.
• Medical revenue increased 17.6% year-over-year in Q2 2025.
• Medical Segment Adjusted EBITDA margin was 13.4% in Q2 2025.

High-touch, premium service via Blade Lounges and ground crew.

Service Component	Metric/Value	Context/Date
Passenger Division Terminals	12 terminals	Prior to August 2025 divestiture
Passenger Segment Adjusted EBITDA	$0.1 million	Q1 2025
Passenger Segment Revenue (Ex-Canada)	Increased 42.0% Y/Y	Q1 2025
Passenger TTM Volume	50,000+ passengers	Prior to August 2025 divestiture

Digital self-service via the consumer-facing mobile application.

• Proprietary technologies were used to manage pricing dynamically, utilizing tools such as AI to maximize utilization of flights.

Loyalty programs and commuter passes for frequent fliers.

• A pilot commuter flight program between Manhattan and Westchester County Airport was announced to begin December 1, 2025.
• Seats for the commuter service cost between $125 per passenger (with a Blade Commuter Pass) to $225.
• The company noted that customers like membership or passes, which leads to enhanced use.

Blade Air Mobility, Inc. (BLDE) - Canvas Business Model: Channels

You're looking at the channels for Blade Air Mobility, Inc. right as the company completed a major pivot in late 2025. Honestly, the channels look very different now compared to early in the year because the Passenger business, which used the app and lounges heavily, was sold off to Joby Aviation for up to $125 million in August 2025.

Blade Mobile Application: Primary booking and customer interface.

The mobile application was the core interface for the Passenger segment, allowing users to compare routes and secure seats in real time. Before the August 2025 sale, this platform was central to optimizing travel time for short-distance flights. The company had projected its revenue to more than double once electric vertical take-off and landing (eVTOL) aircraft were introduced, which was planned for 2025, due to expected cost reductions allowing service to a greater market percentage. The Q2 2025 results showed the Passenger segment generated $25.7 million in revenue before the divestiture closed.

Dedicated Sales Team: Direct contracts with hospitals and OPOs.

For the remaining core Medical and Logistics business, the direct sales channel is paramount. This team manages the relationships with transplant centers and Organ Procurement Organizations (OPOs). The company maintains a 100% contract renewal rate over the last year, showing strong channel retention in this critical area. The Medical segment was the primary driver of profitability, delivering $6.0 million in Adjusted EBITDA for Q2 2025, which was 85% of the total Segment Adjusted EBITDA of $8.4 million in that quarter.

Here's a look at the operational scale supporting these direct contracts:

• Blade operates the largest network of aircraft in the U.S. for organ transportation.
• Aircraft are available on two hours' notice for time-critical organ recovery.
• The company uses a hybrid asset ownership model where one-third of flights use owned aircraft.
• Investments include 50 lights and sirens SUVs for ground transportation support.

Exclusive Blade Lounges and Vertiports: Physical points of service.

Physical points of service, like lounges and vertiports, were key for the former Passenger segment's urban air mobility routes. Given the August 2025 sale of the Passenger division to Joby Aviation, the reliance on these physical hubs for consumer flights is now significantly reduced or eliminated as the focus shifts entirely to medical logistics. The Q1 2025 results showed the Passenger Segment achieved its first Adjusted EBITDA profitable quarter since going public, at $0.1 million.

Strategic Partnerships: Integration with partners like Uber (future) and JetBlue.

The most significant recent channel event is the strategic partnership/sale involving the Passenger business. Blade divested this entire division to Joby Aviation for up to $125 million, structured as $90 million at close and $35 million subject to holdbacks or earn-out. The Medical segment relies on integrated service partnerships, including the Trinity Medical Solutions and Keystone Perfusion brands, which offer surgical organ recovery and perfusion staffing. As of Q2 2025, the Medical segment revenue was $45.1 million, a 17.6% year-over-year increase.

The following table summarizes key financial metrics related to the business segments that define these channels as of the latest available data before the full transition:

Metric (Q2 2025)	Value	Segment Focus
Total Revenue	$70.8 million	Combined
Medical Revenue	$45.1 million	Dedicated Sales Team / Logistics
Passenger Revenue	$25.7 million	Mobile App / Lounges (Divested)
Medical Segment Adjusted EBITDA	$6.0 million	Dedicated Sales Team / Logistics
Passenger Segment Adjusted EBITDA (Q1 2025)	$0.1 million	Mobile App / Lounges (Divested)
Total Contract Renewal Rate	100%	Dedicated Sales Team

The reaffirmed full-year 2025 revenue guidance, before accounting for the divestiture, was $245-265 million.

Blade Air Mobility, Inc. (BLDE) - Canvas Business Model: Customer Segments

Hospitals and Organ Procurement Organizations (OPOs): Dominant revenue driver.

The Medical Segment remains a core focus, providing air transportation and logistics for organ transport. This segment is insulated from some economic sensitivity.

• Medical Segment revenue for the three months ended March 31, 2025, was $35.9 million.
• Medical Segment revenue for the three months ended June 30, 2025, was $45.1 million.
• The company serves approximately 30% of the $1 billion addressable market for transplant air logistics.
• The Medical Segment utilizes approximately 30 dedicated aircraft and 50 ground vehicles.
• An all-time monthly record for Medical trip volumes was achieved in April 2025.
• Medical Segment Adjusted EBITDA for Q1 2025 was $4.1 million.
• The Medical Segment flight profit margin was 22% on a trailing twelve-month basis as of Q1 2025 investor slides.

The operational scale for this segment is significant, with specific asset deployment dedicated to time-critical logistics.

Metric	Q1 2025 Value	Q2 2025 Value
Medical Segment Revenue	$35.9 million	$45.1 million
Medical Segment Adjusted EBITDA Margin	N/A	13.4%

High-Net-Worth Individuals: Leisure and commuter travel in US/Europe.

This group drives the Passenger Segment, which saw its first Adjusted EBITDA profit since going public in Q1 2025. The focus has shifted to profitable routes, notably in Europe, following the exit from Canada in August 2024.

• Passenger Segment revenue increased 42.0% year-over-year in Q1 2025, excluding Canada operations.
• Jet and Other revenue, a component of Passenger, increased 59.9% to $9.1 million in Q1 2025.
• Short Distance revenue increased 28.1% in Q1 2025 compared to the prior year period, excluding Canada.
• Passenger Segment posted an Adjusted EBITDA profit of $0.1 million in Q1 2025.
• Passenger Segment flight margin rose to 30.5% in Q2 2025.
• Europe contributed approximately $6 million to Passenger segment revenue in Q1 2025.

Urban Professionals: Commuting between Manhattan and major airports (e.g., JFK).

Blade Air Mobility, Inc. is actively expanding its commuter focus, launching new routes to service professionals dealing with renewed traffic congestion. This service is being positioned for the transition to Electric Vertical Aircraft (EVA).

• A pilot program connecting Downtown Manhattan Heliport and JFK Airport launched in April 2025.
• Flights on the JFK route operate weekdays from 3:00 PM to 7:00 PM.
• By-the-seat fares for the JFK route start at $195, or from $95 with a Commuter Pass.
• A new weekday commuter service between Manhattan and Westchester County Airport was set to begin December 1, 2025.
• The Manhattan-Westchester route aims to reduce travel time from over an hour and a half to twelve minutes.
• Seats on the Westchester commuter service are priced from $125 to $225 per passenger.

Corporate Clients: Charter services and brand partnerships.

Charter services fall under the Jet and Other category within the Passenger segment. The overall company reaffirmed its full-year guidance for 2025.

Financial Metric	2025 Full Year Guidance	Q2 2025 Result
Total Revenue	$245-265 million	$70.8 million
Adjusted EBITDA	Double-digit millions	Loss of $(1.2) million (Q1 2025)

The company announced the sale of its passenger business to Joby Aviation for up to $125 million during Q2 2025.

Blade Air Mobility, Inc. (BLDE) - Canvas Business Model: Cost Structure

You're looking at the cost side of the Blade Air Mobility, Inc. (BLDE) business as of the second quarter of 2025, right before the planned transition to a pure-play medical entity, Strata Critical Medical. Honestly, the cost structure reflects a business in transition, with significant cost rationalization efforts showing up in the numbers.

Cost of Revenue: Payments to third-party aircraft operators (variable costs)

This is your primary variable cost, directly tied to flight volume, representing payments made to third-party aircraft operators. For the three months ended June 30, 2025, the Cost of Revenue was reported at $\mathbf{\$53,064}$ thousand. This compares to $\$51,591$ thousand in the same period last year, showing a $\mathbf{2.9\%}$ increase year-over-year, which aligns with the overall revenue growth in the quarter.

General and Administrative (G&A)

General and Administrative expenses saw a strong reduction as part of the cost discipline initiatives. In Q2 2025, G&A expenses were $\mathbf{\$20,142}$ thousand. That's a $\mathbf{19.9\%}$ reduction compared to the $\$25,136$ thousand reported in Q2 2024. This focus on efficiency is defintely a key theme as the company prepares to spin off its medical operations.

Aircraft Maintenance and Capital Expenditures

Aircraft maintenance costs, which fall under capital expenditures, were a notable factor, especially impacting the Medical segment margins earlier in the year. Total capital expenditures for Q2 2025 were $\mathbf{\$2.7}$ million. This CapEx was driven primarily by aircraft maintenance, with capitalized aircraft maintenance specifically accounting for approximately $\mathbf{\$1.8}$ million of that total. Management noted that this heavy maintenance schedule, including G inspections and engine overhauls, caused a 100 basis point year-over-year decline in the Medical segment's adjusted EBITDA margin, but they expect this to normalize.

Software Development

Costs related to platform technology, categorized under Software Development, were $\mathbf{\$915}$ thousand for the second quarter of 2025. This figure actually decreased by $\mathbf{5.8\%}$ compared to the $\$971$ thousand in Q2 2024. It's worth noting that of the total CapEx, capitalized software development was $\mathbf{\$0.4}$ million.

Selling and Marketing

Selling and Marketing expenses were significantly curtailed, reflecting the cost rationalization efforts mentioned, particularly in the Passenger division ahead of its sale. This line item was reduced to $\mathbf{\$1,634}$ thousand in Q2 2025. That represents a $\mathbf{31.8\%}$ drop from the $\$2,396$ thousand recorded in the year-ago quarter. This aligns with the reported $\mathbf{17\%}$ year-over-year fall in Passenger segment adjusted SG&A.

Here's a quick look at the key operating expenses for the three months ended June 30, 2025, compared to the prior year:

Cost Category	Q2 2025 Amount (in thousands)	Q2 2024 Amount (in thousands)	Year-over-Year Change
Cost of Revenue	$53,064	$51,591	2.9% increase
General and Administrative	$20,142	$25,136	(19.9%) decrease
Software Development	$915	$971	(5.8%) decrease
Selling and Marketing	$1,634	$2,396	(31.8%) decrease

Overall operating expenses showed improvement due to these focused cuts. The total operating expenses for Q2 2025 were $\mathbf{\$75,755}$ thousand, which was a $\mathbf{5.4\%}$ reduction from the $\$80,094$ thousand in Q2 2024. This cost discipline helped narrow the operating loss significantly.

The major components driving the non-revenue related operating costs include:

• G&A Costs: $\mathbf{\$20,142}$ thousand in Q2 2025, showing strong expense control.
• Software Development: $\mathbf{\$915}$ thousand expense, plus $\mathbf{\$400}$ thousand capitalized.
• Selling & Marketing: $\mathbf{\$1,634}$ thousand, reflecting reduced promotional spend.
• Aircraft Maintenance CapEx: $\mathbf{\$1.8}$ million, focused on the Medical segment fleet.

Finance: draft 13-week cash view by Friday.

Blade Air Mobility, Inc. (BLDE) - Canvas Business Model: Revenue Streams

You're looking at the revenue engine of Blade Air Mobility, Inc. (BLDE) right before the planned strategic pivot, which is important for understanding the baseline performance of the core businesses.

The company reaffirmed its full-year 2025 revenue guidance, looking at a range between $245 million and $265 million, this figure excludes the impact of the pending divestiture of the Passenger division. For the second quarter of 2025, total GAAP revenue landed at $70.8 million, which beat analyst estimates. On the profitability side for that quarter, the company posted an Adjusted EBITDA of $3.2 million.

Here's a quick look at how the Q2 2025 revenue broke down across the main operational segments:

Revenue Stream Segment	Q2 2025 Revenue (in thousands)	Year-over-Year Change	Q2 2025 Segment Adjusted EBITDA (in thousands)
MediMobility Organ Transport	$45,100	Up 17.6%	$6,000
Short Distance Passenger Flights	$25,700	Down 13.2%	$2,400
Jet and Other Services	$8,500	Down 2.3%	N/A

The MediMobility Organ Transport segment is clearly the largest driver, bringing in $45.1 million in Q2 2025, marking a 17.6% increase year-over-year. This growth was fueled by adding new transplant center customers and stronger revenue per block hour. This segment also delivered $6.0 million in Adjusted EBITDA for the quarter.

For the passenger side, which is slated for divestiture, the revenue picture was more complex. You see the revenue streams here:

• MediMobility Organ Transport: The largest segment, with revenue up 17.6% in Q2 2025.
• Short Distance Passenger Flights: Revenue was $25.7 million, down 13.2% year-over-year.
• Jet and Other Services: Revenue was $8.5 million, a decrease of 2.3%.

The Passenger segment, which includes short-distance flights and jet charters, generated a combined segment Adjusted EBITDA of $2.4 million in Q2 2025. To be defintely clear, the company is actively moving away from the passenger business, which is why the guidance is being reaffirmed on a pre-divestiture basis.

Finance: draft 13-week cash view by Friday.