Surf Air Mobility Improves Annual Adjusted EBITDA Guidance by Approximately 40% While Maintaining 20% to 30% Annual Revenue Growth Guidance

LOS ANGELES--(BUSINESS WIRE)--Surf Air Mobility Inc. (NYSE: SRFM) ("Surf Air Mobility" or the "Company"), a leading air mobility platform, today announced revised 2026 guidance for Adjusted EBITDA loss of $30 to $25 million, an approximate 40% improvement from the prior Adjusted EBITDA loss of $50 to $40 million. This improvement reflects the impact of the Company's proprietary SurfOS^TM software across its operations and the reduced cost and speed of its deployment. The Company reaffirmed its 2026 revenue guidance of $128 to $138 million, a 20% to 30% year-over-year increase.

The improvements to Surf Air Mobility’s 2026 Adjusted EBITDA guidance are driven by four factors:

1. SurfOS digitalizing core airline and charter workflows, reducing costs by 6% and 15%, respectively
2. Corporate automation and procurement discipline, 32% reduction in staffing need, 17% in professional services
3. Increased profitable charter revenue through the capital-efficient Powered by Surf On Demand program
4. Reduced SurfOS development costs and accelerating deployment via AI and Palantir's platform

Deanna White, Chief Executive Officer of Surf Air Mobility, said: "SurfOS and our work with Palantir is driving measurable efficiency and cost savings. Improving our 2026 Adjusted EBITDA guidance by approximately 40% while maintaining our 2026 revenue growth guidance reflects our expectation that we can lower the cost to deploy SurfOS and accelerate the software's optimization capabilities within our business."

About Surf Air Mobility

Surf Air Mobility is a Los Angeles-based air mobility platform. With its AI-enabled SurfOS software and electrification programs, Surf Air Mobility provides technology designed to support the modernization of air operations and the adoption of next-generation aircraft. The Company currently operates one of the largest commuter airlines in the United States by scheduled departures, which provides operational scale and real-world operating data to validate and deploy its software. Together, these capabilities position Surf Air Mobility as a leader shaping a more efficient, connected, and accessible future for aviation.

Forward-Looking Statements

This Press Release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, including statements regarding Surf Air Mobility’s implementation of its transformation strategy; developments on key strategic initiatives; Surf Air Mobility’s profitability and future financial results; and Surf Air Mobility’s balance sheet and liquidity. Readers of this release should be aware of the speculative nature of forward-looking statements. These statements are based on the beliefs of Surf Air Mobility’s management as well as assumptions made by and information currently available to Surf Air Mobility and reflect Surf Air Mobility’s current views concerning future events. As such, they are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, among many others: Surf Air Mobility’s future ability to pay contractual obligations and liquidity will depend on operating performance, cash flow and ability to secure adequate financing; Surf Air Mobility’s limited operating history and that Surf Air Mobility has not yet commercialized software platforms for third-party sales or manufactured any hybrid-electric or fully-electric aircraft; Surf Air Mobility’s failure to realize the expected return on its significant investment in SurfOS due to development delays, technical challenges, or lack of market acceptance; any accidents or incidents involving hybrid-electric or fully-electric aircraft; the dependence on third-party partners and suppliers for the components and collaboration in Surf Air Mobility’s development of hybrid-electric and fully-electric powertrains and its advanced air mobility software platform, and any interruptions, disagreements or delays with those partners and suppliers; the inability to execute business objectives and growth strategies successfully or sustain Surf Air Mobility’s growth; the inability of Surf Air Mobility’s customers to pay for Surf Air Mobility’s services; the inability of Surf Air Mobility to obtain additional financing or access the capital markets to fund its ongoing operations on acceptable terms and conditions; the outcome of any legal proceedings that might be instituted against Surf Air, Southern or Surf Air Mobility, the risks associated with Surf Air Mobility’s obligations to comply with applicable laws, government regulations and rules and standards of the New York Stock Exchange; and general economic conditions. These and other risks are discussed in detail in the periodic reports that Surf Air Mobility files with the SEC, and investors are urged to review those periodic reports and Surf Air Mobility’s other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov, before making an investment decision. Surf Air Mobility assumes no obligation to update its forward-looking statements except as required by law.