Following these transactions, Tomkiel retains 1,061,626 shares of Blade Air Mobility. These sales were conducted under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined plan to sell company stock, helping to avoid concerns of insider trading. The company maintains a strong financial position with a current ratio of 6.32 and more cash than debt on its balance sheet. For deeper insights into BLDE's financial health and additional analysis, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks. The company maintains a strong financial position with a current ratio of 6.32 and more cash than debt on its balance sheet. For deeper insights into BLDE's financial health and additional analysis, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks.
Following these transactions, Tomkiel retains 1,061,626 shares of Blade Air Mobility. These sales were conducted under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined plan to sell company stock, helping to avoid concerns of insider trading.
In other recent news, Blade Air Mobility has reported strong financial results for Q3 2024. The urban air mobility platform saw a 27.3% year-over-year increase in flight profit and an adjusted EBITDA of $4.2 million, a significant increase from $0.8 million in the previous year. Despite a sequential dip in medical revenue, Blade remains hopeful for a rebound in Q4 and projects double-digit growth for 2025.
The company's strategic decisions, such as exiting unprofitable markets and forming a partnership with OrganOx, have set it up well for future expansion. For 2024, Blade anticipates revenue between $240 million and $250 million. The company also expects positive adjusted EBITDA, with medical revenue projected to grow in low single digits sequentially in Q4.
Furthermore, double-digit growth in medical revenue and adjusted EBITDA margins of approximately 15% are anticipated for 2025. The company ended Q3 with no debt and $136 million in cash, demonstrating its solid financial standing. These are recent developments that reflect Blade Air Mobility's ability to navigate market challenges and capitalize on growth opportunities.
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