Surf Air Mobility (SRFM) Operating Expenses (2022 - 2026)
Surf Air Mobility (SRFM) posted Operating Expenses of $39.0 million for Q1 2026, down 25.53% sequentially from $52.3 million in Q4 2025, and down 7.38% YoY from $42.1 million in Q1 2025.
Surf Air Mobility (SRFM) Operating Expenses (2022 - 2026) Analysis & Trends
Surf Air Mobility has reported Operating Expenses for 5 years, with the latest figure at $39.0 million in Q1 2026.
- Quarterly Operating Expenses fell 7.38% year-over-year to $39.0 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $180.3 million (up 15.11% YoY) and the FY2025 annual result came in at $183.4 million, up 2.09% from the prior year.
- Operating Expenses fell to $39.0 million in Q1 2026 per SRFM's latest filing, from $52.3 million in the prior quarter.
- Over five years, Operating Expenses peaked at $135.4 million in Q4 2023 and troughed at $16.2 million in Q3 2022.
- A 5-year average of $44.7 million and a median of $40.5 million in 2025 frame the typical range for Operating Expenses.
- The sharpest annual moves came in 2023 and 2024: Operating Expenses surged 532.37% in 2023, then sank 85.27% in 2024.
- Over 5 years, Operating Expenses stood at $21.4 million in 2022, then soared by 532.37% to $135.4 million in 2023, then tumbled by 85.27% to $19.9 million in 2024, then jumped by 162.41% to $52.3 million in 2025, then retreated by 25.53% to $39.0 million in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $39.0 million, $52.3 million, and $45.7 million for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Delta Air Lines | 53.01 Bn | 48.34 Bn | 19.07 Bn | 17.89 Bn |
| 2 | Ryanair Holdings | 28.78 Bn | 25.56 Bn | - | 4.43 Bn |
| 3 | Southwest Airlines | 19.50 Bn | 15.71 Bn | 7.33 Bn | 8.15 Bn |
| 4 | Copa Holdings | 5.30 Bn | 4.04 Bn | 1.03 Bn | 967.68 Mn |
| 5 | Alaska Air | 4.46 Bn | 1.80 Bn | 3.76 Bn | 4.23 Bn |
| 6 | Skywest | 3.98 Bn | 3.38 Bn | 1.01 Bn | 946.92 Mn |
| 7 | Jetblue Airways | 1.79 Bn | -232.60 Mn | 2.32 Bn | 2.84 Bn |
| 8 | Allegiant Travel | 1.75 Bn | 695.62 Mn | 902.77 Mn | 922.38 Mn |
| 9 | Frontier Group Holdings | 1.33 Bn | 373.12 Mn | - | 1.38 Bn |
| 10 | Surf Air Mobility | 69.11 Mn | 50.68 Mn | 62,000.00 | 48.31 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 48.31 Mn |
| Mar 31, 2026 | 38.97 Mn |
| Dec 31, 2025 | 52.32 Mn |
| Sep 30, 2025 | 45.67 Mn |
| Jun 30, 2025 | 43.36 Mn |
| Mar 31, 2025 | 42.07 Mn |
| Dec 31, 2024 | 19.94 Mn |
| Sep 30, 2024 | 37.02 Mn |
| Jun 30, 2024 | 57.62 Mn |
| Mar 31, 2024 | 65.09 Mn |
| Dec 31, 2023 | 135.38 Mn |
| Sep 30, 2023 | 84.99 Mn |
| Jun 30, 2023 | 19.35 Mn |
| Mar 31, 2023 | 17.56 Mn |
| Dec 31, 2022 | 21.41 Mn |
| Sep 30, 2022 | 16.19 Mn |
| Jun 30, 2022 | 17.53 Mn |