In recent transactions, William A. Heyburn, the Chief Financial Officer of Blade Air Mobility Inc. (NASDAQ:BLDE), sold a significant portion of the company’s Class A common stock. On January 6 and 7, Heyburn sold a total of 104,570 shares, amounting to approximately $525,019. The sales were executed at prices ranging from $5.0033 to $5.0209 per share, near the stock’s 52-week high of $5.17. According to InvestingPro data, BLDE has shown strong momentum with a 10.59% return in the past week.
The transactions were conducted under a Rule 10b5-1 trading plan, which Heyburn adopted on December 14, 2023. Following these sales, Heyburn retains ownership of 1,222,220 shares of Blade Air Mobility. InvestingPro analysis shows the company maintains strong liquidity with a current ratio of 6.32, indicating robust financial flexibility. Get access to 7 more exclusive ProTips and comprehensive analysis in the Pro Research Report.
Additionally, on January 8, Heyburn exercised stock options to acquire 175,000 shares at a price of $0.18 each, totaling $31,500. These option exercises did not involve any immediate sale of the acquired shares. Based on InvestingPro’s Fair Value analysis, BLDE currently appears to be fairly valued in the market.
In other recent news, Blade Air Mobility showcased robust Q3 2024 financials, achieving a 27.3% year-over-year increase in flight profit and a significant rise in its adjusted EBITDA to $4.2 million. The company’s strategic decisions, such as exiting unprofitable markets and partnering with OrganOx, have paved the way for anticipated growth. Despite a sequential decline in medical revenue, Blade remains hopeful for a Q4 rebound and projects double-digit growth for 2025.
Blade’s financial performance in Q3 2024 also included a doubling of the passenger segment’s adjusted EBITDA margin to 14.4%. The company closed the quarter debt-free with $136 million in cash reserves.
Looking ahead, Blade forecasts 2024 revenue between $240 million and $250 million, with a positive adjusted EBITDA. The company also anticipates low single-digit sequential growth in medical revenue in Q4. For 2025, Blade expects double-digit growth in medical revenue and adjusted EBITDA margins of approximately 15%. These recent developments underscore Blade’s ability to leverage opportunities for growth while maintaining financial stability.
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