Surf Air Mobility (SRFM) Operating Expenses (2022 - 2026)
Surf Air Mobility (SRFM) reported Operating Expenses of $39.0 million for Q1 2026, down 7.38% on a YoY basis from $42.1 million in Q1 2025, and down 25.53% sequentially from $52.3 million in Q4 2025.
Surf Air Mobility (SRFM) Operating Expenses (2022 - 2026) Analysis & Trends
Surf Air Mobility (SRFM) has 5 years of Operating Expenses data on file, last reported at $39.0 million in Q1 2026.
- For the quarter ending Q1 2026, Operating Expenses fell 7.38% year-over-year to $39.0 million; the trailing twelve-month figure through Mar 2026 stood at $180.3 million (up 15.11% YoY), and the FY2025 full-year result was $183.4 million, up 2.09% from the prior year.
- Operating Expenses fell to $39.0 million in Q1 2026, from $52.3 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $135.4 million in Q4 2023 to a low of $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.
- Across the five-year window, Operating Expenses soared 532.37% in 2023 and tumbled 85.27% in 2024, its largest moves.
- Tracing SRFM's Operating Expenses over 5 years: stood at $21.4 million in 2022, then soared by 532.37% to $135.4 million in 2023, then plunged by 85.27% to $19.9 million in 2024, then jumped by 162.41% to $52.3 million in 2025, then dropped by 25.53% to $39.0 million in 2026.
- Business Quant data shows SRFM's Operating Expenses at $39.0 million in Q1 2026, $52.3 million in Q4 2025, and $45.7 million in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Latam Airlines | 30,779.25 Bn | 30,776.58 Bn | 1.28 Mn | -3.34 Bn |
| 2 | Ryanair Holdings | 60.66 Bn | 57.47 Bn | - | 4.33 Bn |
| 3 | Delta Air Lines | 56.23 Bn | 51.57 Bn | 19.07 Bn | 17.89 Bn |
| 4 | Southwest Airlines | 22.05 Bn | 18.26 Bn | 7.33 Bn | 8.15 Bn |
| 5 | Controladora Vuela Compania de Aviacion, S.A.B. de C.V | 8.95 Bn | 8.12 Bn | - | 958.00 Mn |
| 6 | Copa Holdings | 5.69 Bn | 4.35 Bn | 713.71 Mn | 753.30 Mn |
| 7 | Alaska Air | 5.33 Bn | 3.56 Bn | 3.20 Bn | 3.58 Bn |
| 8 | Skywest | 4.29 Bn | 3.68 Bn | 1.01 Bn | 946.92 Mn |
| 9 | Jetblue Airways | 1.99 Bn | 1.57 Bn | 1.87 Bn | 2.46 Bn |
| 10 | Surf Air Mobility | 60.41 Mn | 56.24 Mn | -333,000.00 | 38.97 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| 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 |