Melissa M. Tomkiel, President and General Counsel of Blade Air Mobility, Inc. (NASDAQ:BLDE), recently sold 22,486 shares of the company’s Class A common stock. The shares were sold at a weighted average price of $5.012 each, totaling approximately $112,699. This transaction was carried out under a Rule 10b5-1 trading plan, which was established by Tomkiel on December 14, 2023.
Additionally, 34,018 shares were withheld by Blade Air Mobility to cover tax obligations related to the vesting of restricted stock units, valued at a price of $4.72 per share. Following these transactions, Tomkiel now directly owns 1,005,122 shares of Blade Air Mobility. The company maintains a strong financial position, with more cash than debt on its balance sheet and a healthy current ratio of 6.32. Discover more insights about BLDE and access comprehensive analysis with a InvestingPro subscription, which includes detailed financial metrics and expert research reports.
In other recent news, Blade Air Mobility posted strong financial results for Q3 2024, with a notable 27.3% year-over-year increase in flight profit and a significant rise in adjusted EBITDA to $4.2 million, an increase from $0.8 million in the prior year. Strategic decisions, such as exiting unprofitable markets and partnering with OrganOx, have positioned Blade for potential future growth. Despite a sequential decline in medical revenue, the company anticipates a rebound in Q4 and forecasts double-digit growth for 2025.
In terms of financial health, Blade closed Q3 with no debt and $136 million in cash. The company also projects revenue between $240 million and $250 million for 2024, with an expected positive adjusted EBITDA. For 2025, Blade anticipates double-digit growth in medical revenue and adjusted EBITDA margins of approximately 15%.
However, the company did face challenges in Q3, including a 5.9% decline in medical revenue compared to Q2 2024, attributed to lower organ transplant volumes. Nevertheless, the company remains optimistic about its future prospects, particularly with its strategic alliance with OrganOx and a strong balance sheet. These are recent developments in Blade Air Mobility's journey.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.