Surf Air Mobility Inc. (SRFM) Revenue History
Annual and quarterly revenue from 2020 to present
SRFM Revenue Over Time (2020–2025)
SRFM Revenue Growth History
4 of 5 years with positive growth- FY2020 revenue growth
- N/A
- FY2021 revenue growth
- +57.3%
- FY2022 revenue growth
- +71.8%
- FY2023 revenue growth
- +198.4%
- FY2024 revenue growth
- +97.4%
- FY2025 revenue growth
- -10.8%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $25.6M | +9.0% |
| Q4 2025 | $26.4M | -5.7% |
| Q3 2025 | $29.2M | +2.8% |
| Q2 2025 | $27.4M | -15.2% |
| Q1 2025 | $23.5M | -23.2% |
| Q4 2024 | $28.0M | +4.5% |
| Q3 2024 | $28.4M | +29.2% |
| Q2 2024 | $32.4M | +422.5% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
SRFM's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
SRFM Revenue Analysis (2020–2025)
Current Revenue & Growth
As of June 23, 2026, Surf Air Mobility Inc. (SRFM) generated trailing twelve-month (TTM) revenue of $108.7 million, reflecting solid growth of +9.0% year-over-year. The most recent quarter (Q1 2026) recorded $25.6 million in revenue, down 3.2% sequentially.
Historical Growth Trajectory
SRFM's 5-year compound annual growth rate (CAGR) stands at +70.0%, indicating outstanding long-term growth trajectory. The 3-year CAGR of +73.9% exceeds the 5-year average, indicating an acceleration in the most recent period. Surf Air Mobility Inc.'s highest annual revenue of $119.4 million was recorded in 2024.
Revenue by Segment
SRFM's revenue is primarily driven by Passenger (100%). With over half of revenue concentrated in Passenger, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Industrials sector peers — including ACHR, JOBY (+69873.9% YoY), and MESA (-19.9% YoY) — SRFM has underperformed the peer group in revenue growth. Compare SRFM vs ACHR →
SRFM Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| SRFMCurrent | $109M | +9.0% | +70.0% | -72.1% | |
 ACHR | $300,000 | - | - | -243100.0% | |
 JOBY | $53M | +69873.9% | - | -1346.9% | |
 MESA | $381M | -19.9% | -6.9% | -46.5% | |
 SKYW | $4.1B | +12.3% | +13.8% | 15.2% |
SRFM Historical Revenue Data (2020–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $106.6M | -10.8% | $4.2M | 3.9% | $-76,874,000 | -72.1% |
| 2024 | $119.4M | +97.4% | $9.5M | 7.9% | $-60,256,000 | -50.5% |
| 2023 | $60.5M | +198.4% | $-5,175,000 | -8.6% | $-196,767,000 | -325.2% |
| 2022 | $20.3M | +71.8% | $-5,577,000 | -27.5% | $-50,904,000 | -251.1% |
| 2021 | $11.8M | +57.3% | $-3,749,000 | -31.8% | $-33,350,000 | -282.7% |
| 2020 | $7.5M | - | $-3,527,000 | -47.0% | $-20,758,000 | -276.8% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
6+ years return with dividends reinvested.
DCA Calculator
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Peer Comparison
Compare growth, multiples, and margins vs sector.
SRFM — Frequently Asked Questions
Quick answers to the most common questions about buying SRFM stock.
Is SRFM's revenue growth accelerating or slowing?
SRFM revenue growth is holding steady at +9.0% year-over-year. TTM revenue is $109M. The current growth rate closely tracks the 5-year CAGR of +70.0%, signalling consistent execution.
What is SRFM's revenue history from 2020 to 2026?
Surf Air Mobility Inc. (SRFM) revenue history spans 2020 to 2026. TTM revenue as of 2026 is $109M, growing at +9.0% YoY. The 5-year CAGR is +70.0%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is SRFM's long-term revenue growth rate (CAGR)?
Surf Air Mobility Inc.'s 5-year revenue CAGR of +70.0% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +9.0% is in line with this long-term average. CAGR is the most reliable measure of sustained revenue momentum for SRFM.
Why does SRFM's quarterly revenue fluctuate?
SRFM quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Surf Air Mobility Inc.'s revenue data from 2020 to 2026 shows full historical quarterly detail on this page.
How is SRFM's revenue distributed by segment?
SRFM reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does SRFM's revenue compare to industry peers?
Surf Air Mobility Inc. (SRFM) with TTM revenue of $109M and +9.0% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.