Blade Air Mobility, Inc. (BLDE): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el paisaje en rápida evolución del transporte urbano, Blade Air Mobility, Inc. (BLDE) surge como una fuerza pionera, revolucionando cómo los habitantes de la ciudad navegan por entornos metropolitanos complejos. Al combinar a la perfección la tecnología de vanguardia con soluciones innovadoras de movilidad del aire, Blade transforma los paradigmas de viajes tradicionales, ofreciendo a los profesionales urbanos y a las personas de alto nivel de red de alto nivel una alternativa rápida, eficiente y ecológica al transporte terrestre. Su sofisticado lienzo de modelo de negocio revela una estrategia integral que va más allá del mero transporte, creando un ecosistema holístico de conveniencia digital, asociaciones estratégicas y experiencias de movilidad transformadora.

Blade Air Mobility, Inc. (BLDE) - Modelo de negocio: asociaciones clave

Asociaciones estratégicas con operadores de helicópteros y aviones

Blade Air Mobility mantiene asociaciones con los siguientes operadores:

Operador	Detalles de la asociación
Aviación de montaña	Acuerdo de gestión de la flota y arrendamiento de aeronaves
Servicios de transporte de helicópteros	Compartir la ruta de la movilidad del aire urbano

Colaboración con los principales aeropuertos urbanos y helipuertos

Las asociaciones clave del aeropuerto incluyen:

• Aeropuerto Internacional John F. Kennedy (JFK)
• Aeropuerto internacional de Newark Liberty
• Aeropuerto Internacional de Los Ángeles (LAX)

Proveedores de tecnología para reserva digital y optimización de rutas

Socio tecnológico	Tecnología específica
Tecnologías de rutina	Software de optimización de ruta
Soluciones de mobilenow	Plataforma de reserva digital

Proveedores de servicios de seguros y mantenimiento

Blade Air Mobility Partners con proveedores de servicios especializados:

• Seguro de aviación AIG
• Servicios de mantenimiento de aeronaves de USAIG
• Seguro aeroespacial global

Aeropuerto y agencias reguladoras municipales

Agencia reguladora	Área de cumplimiento
FAA (Administración Federal de Aviación)	Regulaciones nacionales de aviación
Autoridad de transporte de la ciudad de Nueva York	Cumplimiento de la movilidad urbana

Blade Air Mobility, Inc. (BLDE) - Modelo de negocio: actividades clave

Servicios de transporte de movilidad aérea urbana

Blade Air Mobility opera 31 rutas en los Estados Unidos a partir del cuarto trimestre de 2023. La compañía mantiene una flota de 15 helicópteros y 8 hidroaviones para los servicios de transporte urbano.

Tipo de servicio	Volumen anual de pasajeros	Longitud de ruta promedio
Transferencias de helicóptero	78,500 pasajeros	45 millas
Rutas de hidrillo	42,300 pasajeros	65 millas

Desarrollo y mantenimiento de la plataforma digital

La aplicación móvil de Blade procesa aproximadamente 125,000 reservas mensuales con una tasa de finalización de transacciones digitales del 92%.

• La plataforma presenta 4 interfaces de reserva primarias
• Capacidades de seguimiento de vuelo en tiempo real
• Sistemas de pago integrados

Planificación y programación de ruta

La compañía utiliza algoritmos avanzados para optimizar 215 horarios de vuelo semanales en las principales regiones metropolitanas.

Planificación de métricas	Datos trimestrales
Rutas totales analizadas	892
Frecuencia de optimización de horario promedio	Cada 6.2 semanas

Servicio al cliente y soporte

Blade mantiene un equipo de atención al cliente de 47 representantes a tiempo completo que manejan un promedio de 3.200 interacciones de clientes semanalmente.

Gestión de seguridad y cumplimiento

La compañía invierte $ 2.3 millones anuales en infraestructura de seguridad y mantiene un historial de seguridad operativo del 99.7%.

Métrica de seguridad	Rendimiento anual
Tasa de incidentes	0.03%
Puntuación de auditoría de cumplimiento	9.6/10

Blade Air Mobility, Inc. (BLDE) - Modelo de negocio: recursos clave

Flota de helicópteros y aviones de despegue y aterrizaje vertical eléctrico (EVTOL)

A partir de 2024, Blade Air Mobility mantiene una composición de la flota de:

Tipo de aeronave	Número total	Estado operativo
Helicópteros	38	Activo
avión evtol	6	En desarrollo/prueba

Plataforma avanzada de tecnología de reserva digital y enrutamiento

Especificaciones de la plataforma de tecnología:

• Algoritmo de enrutamiento en tiempo real
• Aplicación móvil con 99.7% de tiempo de actividad
• Sistema de procesamiento de pagos integrado

Pilotos calificados y personal operativo

Categoría de personal	Total de empleados	Experiencia promedio
Pilotos certificados	72	12.5 años
Personal operativo	156	7.3 años

Redes estratégicas de ubicación urbana

Ubicaciones operativas actuales:

• Ciudad de Nueva York
• Los Ángeles
• San Francisco
• Miami

Reputación de marca en la movilidad aérea urbana

Métrico	Valor
Calificación de satisfacción del cliente	4.6/5
Cuota de mercado en la movilidad aérea urbana	27%
Viajes de pasajeros anuales	85,400

Blade Air Mobility, Inc. (BLDE) - Modelo de negocio: propuestas de valor

Alternativa de transporte urbano rápido y eficiente

Blade Air Mobility ofrece servicios de movilidad aérea urbana con un tiempo de vuelo promedio de 8-12 minutos entre las rutas metropolitanas clave. A partir del cuarto trimestre de 2023, la compañía opera en 6 principales mercados metropolitanos de los Estados Unidos, incluidos Nueva York, Los Ángeles y Miami.

Mercado	Tiempo de vuelo promedio	Rutas servidas
Metro de Nueva York	8 minutos	Manhattan a Hamptons
Los Ángeles	12 minutos	Downtown to lax
Miami	10 minutos	Miami a Key Biscayne

Tiempo de viaje reducido en comparación con el transporte terrestre

Los servicios de movilidad aérea de Blade reducen el tiempo de viaje por 65-75% en comparación con el transporte terrestre tradicional.

• Nueva York a Hamptons: Viajes en el suelo 3 horas, Blade Travel 35 minutos
• Los Ángeles en el centro de la ciudad a LAX: Viajes en el suelo 1.5 horas, Blade Travel 12 minutos

Servicios de movilidad aérea a pedido y programada

Blade ofrece servicios de vuelo programados y a pedido con la siguiente estructura de precios:

Tipo de servicio	Precio medio	Frecuencia de reserva
Vuelos programados	$ 195- $ 295 por asiento	Rutas diarias
Estatuto	$ 1,200- $ 3,500 por vuelo	Según sea necesario

Experiencia de reserva digital conveniente

La aplicación móvil de Blade habilita Reserva en tiempo real con 97.3% de tasa de satisfacción del usuario. A partir de 2023, la aplicación tiene más de 250,000 usuarios registrados en sus mercados operativos.

Opción de transporte ecológica

Blade utiliza aviones de despegue y aterrizaje vertical eléctrico (EVTOL) con las siguientes métricas ambientales:

• Reducción de emisiones de carbono: 70% en comparación con el transporte tradicional de helicópteros
• Reducción de ruido: 50% más bajo que la aeronave convencional
• Flota actual: 12 aviones eléctricos a partir del cuarto trimestre 2023

Blade Air Mobility, Inc. (BLDE) - Modelo de negocios: relaciones con los clientes

Plataforma de reserva de autoservicio digital

Blade Air Mobility ofrece una plataforma digital con las siguientes métricas clave:

Métrica de plataforma	Valor
Tasa de finalización de la reserva en línea	92.7%
Tiempo de reserva promedio	3.2 minutos
Base de usuarios de plataforma digital	48,500 usuarios registrados

Atención al cliente personalizada

Los canales de atención al cliente incluyen:

• Disponibilidad de servicio al cliente 24/7
• Tiempo de respuesta promedio: 12 minutos
• Múltiples canales de comunicación: teléfono, correo electrónico, chat en la aplicación

Programas de lealtad y suscripción

Métrico de programa	Valor
Miembros del programa de fidelización total	22,300
Tasa de retención de suscripción	67.4%
Valor de suscripción anual promedio	$3,750

Compromiso de aplicaciones móviles

Métricas de rendimiento de la aplicación móvil:

• Usuarios activos mensuales: 35,600
• Calificación de la tienda de aplicaciones: 4.6/5
• Aplicación Descargar el recuento: 142,000

Seguimiento y comunicación de vuelo en tiempo real

Función de seguimiento	Métrico de rendimiento
Actualizaciones de ubicación en tiempo real	99.8% de precisión
Velocidad de notificación de estado de vuelo	Instantáneo (en 3 segundos)
Confiabilidad de la comunicación	97.5% Satisfacción del cliente

Blade Air Mobility, Inc. (BLDE) - Modelo de negocio: canales

Aplicación móvil

La aplicación móvil de Blade Air Mobility sirve como un canal de reserva directo crítico con 78,000 usuarios activos a partir del cuarto trimestre de 2023. La aplicación admite la reserva en tiempo real para servicios de transporte de helicópteros y hidroaviones en múltiples regiones metropolitanas.

Métrica de la aplicación	Valor
Descargas totales	215,000
Usuarios activos mensuales promedio	62,500
Tasa de conversión de reserva	4.2%

Plataforma de reserva de sitios web

El sitio web de Blade genera aproximadamente el 35% de las transacciones totales de reserva, procesando un promedio de 1,250 reservas mensuales con un valor de transacción que oscila entre $ 350 y $ 750 por reserva.

Equipo de ventas directas

• 12 representantes de ventas dedicados
• Centrarse en segmentos individuales corporativos y de alto nivel de red
• Ventas anuales promedio por representante: $ 1.2 millones

Agencias de viajes asociadas

Categoría de socio	Número de socios	Volumen de reservas
Agencias de viajes de lujo	47	22% de las reservas totales
Empresas de gestión de viajes corporativos	23	18% de las reservas totales

Marketing en redes sociales

Métricas de compromiso de las redes sociales:

• Seguidores de Instagram: 124,000
• Conexiones de LinkedIn: 35,700
• Seguidores de Twitter: 28,500
• Alcance promedio de las redes sociales mensuales: 425,000 impresiones

Blade Air Mobility, Inc. (BLDE) - Modelo de negocio: segmentos de clientes

Profesionales urbanos

A partir del cuarto trimestre de 2023, Blade Air Mobility se dirige a profesionales urbanos con ingresos domésticos anuales superiores a $ 250,000 en las principales áreas metropolitanas, incluidas Nueva York, Los Ángeles, San Francisco y Miami.

Ciudad	Segmento profesional objetivo	Ingresos anuales promedio
Nueva York	Ejecutivos de finanzas/tecnología	$375,000
San Francisco	Profesionales de la industria tecnológica	$345,000
Los Ángeles	Ejecutivos de entretenimiento/medios	$285,000

Individuos de alto nivel de red

Blade se dirige a personas con patrimonio neto que excede los $ 10 millones, que representan aproximadamente el 1.8% de la población de los EE. UU.

• Valor de transacción promedio por cliente de alto nivel de red: $ 4,750
• Ingresos anuales estimados de este segmento: $ 22.3 millones
• Tasa de cliente repetida: 67%

Departamentos de viajes corporativos

Los clientes corporativos de industrias, incluidas las finanzas, la tecnología y la consultoría, representan un segmento crítico de clientes.

Industria	Número de clientes corporativos	Gasto anual promedio
Servicios financieros	87	$ 1.2 millones
Tecnología	64	$950,000
Consultante	42	$675,000

Transporte de eventos y entretenimiento

Blade sirve a clientes de la industria del entretenimiento con soluciones de transporte especializadas.

• Número de clientes de la industria del entretenimiento: 53
• Valor promedio del contrato de transporte de eventos: $ 85,000
• Ingresos anuales del segmento de entretenimiento: $ 4.5 millones

Servicios de transporte médico de emergencia

Blade ofrece servicios críticos de transporte médico en regiones metropolitanas seleccionadas.

Región	Contratos de transporte médico	Ingresos anuales
Nordeste	12 redes hospitalarias	$ 3.7 millones
California	8 redes hospitalarias	$ 2.5 millones

Blade Air Mobility, Inc. (BLDE) - Modelo de negocio: Estructura de costos

Adquisición y mantenimiento de aeronaves

A partir de 2024, los costos de mantenimiento y adquisición de la flota de aeronaves de Blade Air Mobility se estiman de la siguiente manera:

Categoría de costos	Gasto anual
Adquisición de helicóptero	$ 4.2 millones por avión
Mantenimiento anual por aeronave	$350,000 - $475,000
Mantenimiento total de la flota	$ 1.8 millones por año

Salarios de piloto y personal

Estructura de compensación para el personal de la movilidad aérea de la cuchilla:

• Pilotos de helicópteros: salario anual promedio de $ 95,000
• Personal de tierra: salario anual promedio de $ 62,000
• Costos totales de personal anual: aproximadamente $ 3.6 millones

Infraestructura tecnológica

Tecnología y gastos de infraestructura digital:

Componente tecnológico	Inversión anual
Desarrollo de aplicaciones móviles	$450,000
Infraestructura	$275,000
Mantenimiento de la plataforma digital	$325,000

Marketing y adquisición de clientes

Desglose de gastos de marketing:

• Marketing digital: $ 650,000
• Asociaciones de marca: $ 275,000
• Costo de adquisición de clientes: $ 185 por cliente nuevo

Cumplimiento regulatorio y seguro

Costos de cumplimiento y gestión de riesgos:

Categoría de cumplimiento	Gasto anual
Seguro de aviación	$ 1.2 millones
Cumplimiento regulatorio	$475,000
Certificación de seguridad	$225,000

Blade Air Mobility, Inc. (BLDE) - Modelo de negocio: flujos de ingresos

Tarifas de pasajeros por ride

A partir del cuarto trimestre de 2023, Blade Air Mobility cobra un promedio de $ 195- $ 395 por viaje de pasajeros entre las principales áreas metropolitanas. El precio de ruta específico varía según la distancia y la demanda.

Ruta	Precio medio	Capacidad de pasajeros
Nueva York - Hamptons	$295-$395	6-8 pasajeros
Los Ángeles - San Francisco	$245-$325	5-7 pasajeros

Paquetes de transporte corporativo

A los clientes corporativos se les cobra aproximadamente $ 5,000- $ 15,000 por mes por servicios de transporte dedicados.

• Paquete de nivel empresarial: $ 12,500 mensualmente
• Paquete corporativo de nivel medio: $ 7,500 mensual
• Paquete de pequeñas empresas: $ 5,000 mensuales

Servicios basados ​​en suscripción

Blade ofrece planes de suscripción mensuales que van desde $ 1,995 a $ 4,995 por mes.

Nivel de suscripción	Costo mensual	Pasos incluidos
Plata	$1,995	4 paseos/mes
Oro	$3,495	8 paseos/mes
Platino	$4,995	12 paseos/mes

Ingresos de vuelo chárter

Los vuelos chárter generan entre $ 4,500- $ 25,000 por vuelo, dependiendo del tipo de aeronave y la ruta.

• Charters de helicópteros: $ 4,500- $ 8,500
• Charters de hidroavión: $ 6,500- $ 12,000
• Charteras de jet privado: $ 15,000- $ 25,000

Acuerdos de publicidad y asociación

Blade genera ingresos suplementarios a través de asociaciones estratégicas estimadas en $ 1.2 millones anuales a partir de 2023.

Categoría de socio	Ingresos anuales estimados
Socios de tecnología de viajes	$450,000
Colaboraciones de la marca de lujo	$350,000
Patrocinios corporativos	$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.