Blade Air Mobility, Inc.

Welcome to Blade Urban, Air Mobilities First, Fiscal Quarter 2022 Financial Results Conference Call. At this time, all participants are in listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this event is being recorded. I'd now like to turn the conference over to your host, Mr. Tom Cook, Investor Relations. Please go ahead.

Good morning, ladies and gentlemen. This is Robbie Johnny, Vice President of Investor Relations. Thank you for standing by and welcome to the Blade Air Mobility conference call and webcast for the quarter-end of March 31st, 2022. We appreciate everyone joining us today. Before we get started, I would like to remind you of the company's forward-looking statement in state harbor language. Statements made in this conference call that are not historical facts, including statements about future time periods, may be deemed to constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties, and the actual future results may differ materially from those expressed or implied by the forward-looking statements. We refer you to our SEC filings, including our annual report on Form 10-K filed with the SEC, for a more detailed discussion of the risk factors that could cause these differences. Any forward-looking statements provided during this conference call are made only at the date of this call. As stated in our SEC filings, Blaze disclaims any intent or obligation to update or revise these forward-looking statements except as required by law. During today's conference call, we will also discuss non-GAAP financial measures, which we believe may be useful in evaluating our financial performance. A reconciliation of the most directly comparable GAAP financial measures to those non-GAAP financial measures is provided in our earnings press release, which will also be available on our website. These non-GAAP measures should not be considered in isolation or as a substitute for financial results prepared in accordance with GAAP. Hosting today's conference call are Rob Wiesenthal, Founder and Chief Executive Officer of Blade, and Will Hayburn, Chief Financial Officer. I will now turn the call over to Rob Wiesenthal. Rob?

Thank you, Robbie. Good morning, everyone. I'd like to thank you for your interest in Blade and welcome you to our earnings call for the first quarter ended March 31st, 2022. I'll start with a short overview of our great results this quarter before handing the call over to Will to cover our financials in more detail. I'm extremely happy to report that our growth in the first quarter ended March 31st, 2022 was well ahead of our expectations, even in the face of short-term headwinds generated by Omicron in our short-distance business. Revenues in the March 2022 quarter increased 187% to $26.6 million versus $9.3 million in a 2021 comparable period. It is very rewarding to see such growth in what has seasonally been the lightest quarter for Blaze. It demonstrates our success in diversifying Blade's geographic footprint and consumer base, while staying true to our core strategy of aggregating the world's best existing use cases for urban air mobility and last mile precious cargo. Revenue growth in the March 2022 quarter was driven in large part by a metamobility organ transport business, where we have won 14 new clients year-to-date in 2022, far more than we expected, further expanding the footprint of our medical business to 20 U.S. states. It is also a testament to our blade-in-the-box operating and acquisition platform, which enabled us to quickly integrate Trinity Air Medical, which we purchased in September 2021, and immediately begin realizing revenue and cost benefits. As a result, we've now armed our metamobility sales team with what we believe is the most competitive cost structure, strongest logistics technology platform, and the absolute best client service in Oregon transport today. This service oriented approach is inherited from our long history of providing seamless, or as we say here, advanced team level mobility service to business people and discerning travelers in our short distance business. Precision and redundancy has always been a key part of our DNA here at Blade. And in our organ transport business, it leads to faster response times and shorter trips at more economical prices. When it comes to moving organs, reducing transit times, leads to better clinical outcomes for the transplant recipient, and it is very rewarding for us to provide this critical service to every major transplant center in our hometown community of New York City, as well as across the United States. In our consumer-facing businesses, as expected, we saw headwinds from Omicron during this past quarter, particularly in Blade Airport and Vancouver, where lower utilization led to a contraction in flight margin. However, we chose to maintain service availability, and in recent weeks, we have been rewarded for that decision with record volumes in our New York City airport transfer business. I'll let Will discuss recent demand signals in more detail, but it is incredible to see people getting back out and enjoying travel once again, and as well as the decision by executives to get back on the road for business. I'm also excited to welcome Ravi Jani to our team as VP of Investor Relations in ESG. Ravi joins us from Citadel and his prior experience as an equity research analyst at B of A. I look forward to introducing him to many of you in the coming weeks. I could not be more happy with our progress, and with that, I'll turn the call over to Will.