Surf Air Mobility Inc.

Good evening. My name is Dara, and I'll be your conference operator today for the Surf Air Mobility Second Corner 2026 earnings call. At this time, I'd like to welcome everyone to the earnings call, and all lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press star 1 again. I will now pass the call over to Hudson Andrews for opening remarks. Go ahead.

Thank you, Operator, and good afternoon, everyone. Welcome to Surfer Mobility's second quarter 2026 earnings call. I am joined today by Deanna White, our chief executive officer, Sean Pelsinger, our newly appointed chairman of the board, Liam Fayed, our co-founder, Louis Saint-Cyr, our president of airline operations, Joshua Loughton, our president of Surf On Demand, and Oliver Reeves, our chief financial officer. Our earnings release can be found on the SEC Edgar website and on our investor relations page at investors.surfer.com. Before we begin, I want to remind everyone that during today's call, we will discuss our outlook and expectations for future performance. These forward-looking statements may be preceded by words such as we expect, we believe, or we anticipate. These statements are subject to risks and uncertainties, and actual results could differ materially from the views expressed today. Some of these risks are set forth in our earnings release and in our periodic reports filed with the SEC. We will also present both GAAP and non-GAAP financial measures. Additional disclosures regarding non-GAAP measures, including a reconciliation of GAAP to non-GAAP, are included in our earnings release posted on our investor relations website and in our SEC filings. I'll now turn the call over to Deanna White.

Good afternoon, everyone. The second quarter of 2026 was strong. Revenue came in at the high end of our guidance range, at $29.5 million. and our adjusted EBITDA loss was within our range at 10.5 million. In April, we announced an improvement to our full year 2026 adjusted EBITDA loss guidance of approximately 40% compared to what we had previously announced while maintaining our revenue growth target of 20 to 30% over the prior year. To achieve this, We put specific cost controls and strategies in place across our businesses, and we believe these changes have resulted in permanent improvements. What makes me most confident about our results is the environment we delivered them in. Over the last several months, the aviation industry experienced one of the most volatile periods of fuel prices. In our case, we also managed through a month of unexpected heavy thunderstorms and flash flooding uncommon in Hawaii, affecting our Mokulele operations. Achieving both our revenue and adjusted EBITDA targets under those conditions speaks to the durability of our operations and the technology we have built. Beyond the financial results, the second quarter produced a series of milestones. We won our first multi-year Surf OS enterprise contract. We doubled on-demand private charter revenue in the second quarter compared to the prior year period. We reduced our existing convertible note principle by 64% and lowered monthly cash amortization payments by up to 50%. We significantly expanded our partnership with Palantir, adding both engineering and business development resources to accelerate the commercialization of Cirq OS. We partnered with Beta Technologies on landmark demonstration flights of electric aircraft in Hawaii with support from Hawaiian Airlines. And we deployed our safety management system a year ahead of the FAA schedule. For the last year and a half, the first phases of our transformation plan focused on completing foundational work, building SurfOS, lowering our cost structure, rationalizing the route network, modernizing the fleet, and restructuring our balance sheet. Though there will always be more to do, the work is now largely behind us. We believe the company is in a place for us to pursue revenue growth and profitability at the same time. This comes with a major shift in our strategic priorities as we now move into the expansion phase of our transformation plan, which runs now through 2027. Each of our leaders will take you through their second quarter results and key achievements, and then explain in more detail their second half of 2026 priorities. Before that, I will turn it over to our newly appointed chairman of the board, Sean Peltzinger.