Pull Up Surf Air Mobility (NYSE: SRFM) Today — Citadel Disclosed Sizable Stake in a Recent SEC Filing

Any content you receive is for information purposes only. Always conduct your own research. *Sponsored Spotlight: (SRFM) Signed Wheels Up Software Deal, Expanded Its Palantir Deal, and Supported Electric Aircraft in the Air, All in One Week. Don’t Miss Our Next Update—Get Real-Time Alerts Sent Directly To Your Phone. Up To 10X Faster Than Email. Consider Starting Your Own Research On (SRFM) [ Company Website ] | [ Corporate News Portal ] Here’s Why (SRFM) Tops Friday Morning’s Watchlist August 21, 2026 Dear Reader, The market is open, and (NYSE: SRFM) deserves a spot on the screen right now. The company enters today’s session with fresh momentum across aviation software, electric aircraft, commercial partnerships, and its broader operating business. In March, the Secretary of Transportation unveiled a new federal program designed to move electric aircraft into real commercial service, saying it could “RADICALLY CHANGE the way people and products move.” That kind of language matters. This is no longer just about prototypes, test flights, or futuristic concepts. Federal policy is now pushing electric aviation toward real-world deployment — and the companies already positioned inside that transition could have a major head start. Major institutional players have taken notice. Cathie Wood’s company and Ken Griffin’s Citadel have committed substantial capital to some of the sector’s best-known names this year. But those famous names share one uncomfortable problem. They have never flown a single paying airline passenger. So ask the obvious question. When a new industry arrives, who actually wins? History says it is rarely the companies with the flashiest prototypes. It is the ones already flying. Now consider what Palantir did. The $300B+ AI powerhouse behind Pentagon systems took equity as payment from one small aviation company, and featured it at its own AI conference. That company is Surf Air Mobility (NYSE: SRFM). While air-taxi hopefuls continue pouring cash into prototypes, SRFM already operates one of the largest commuter airlines in America, serving roughly 300,000 passengers annually and generating about $109M in revenue over the last 12 months from its existing airline network. Now here’s the number that should stop you cold: the entire company carries a market cap of roughly $82M — less than a single year of its own revenue — while pre-revenue names command valuations many times higher. Then came the last week of June, when everything accelerated at once. In seven days: a refinancing that cut convertible debt principal by 64%, an expanded partnership announced by Palantir itself, electric demonstration flights with BETA launching over Hawaii, and a landmark enterprise software deal with Wheels Up. Four major announcements. Seven days. One tiny company. And on August 10, the momentum continued. Second-quarter revenue reached $29.5M, hitting the high end of guidance and rising 8% year over year. Surf On Demand private charter revenue more than doubled, climbing 101% from a year earlier. Adjusted EBITDA loss came in at $10.5M, within the company’s guidance range, while management reaffirmed full-year 2026 revenue guidance of $128M to $138M. And the electric story runs deeper. BETA Technologies, Surf Air’s aircraft partner, was chosen in seven of the eight winning federal programs, more than any other electric aircraft maker in the country. That is why Surf Air Mobility (NYSE: SRFM) will be topping my watchlist - Friday August 21, 2026. Keep reading to learn more about Surf Air Mobility (NYSE: SRFM). Surf Air Mobility Inc. (SRFM) Surf Air Mobility is a Los Angeles-based air mobility platform and one of the largest commuter airlines in the U.S. by scheduled departures. Over the last 12 months, the company carried 298,000 passengers across 59,000 scheduled departures, generating $109M in revenue. For full-year 2025, (SRFM) achieved its stated goal of profitable airline operations, defined as positive Adjusted EBITDA in its airline operations. And in the second quarter of 2026, the company delivered revenue at the high end of guidance and an Adjusted EBITDA loss within its guidance range, while reaffirming full-year targets. Beyond flight operations, (SRFM) is building the digital backbone of air mobility. Its AI-enabled SurfOS operating system, powered by Palantir Technologies’ (NASDAQ: PLTR) Foundry and AIP platforms, is designed to run everything from scheduling to compliance to booking, for the entire industry. SurfOS, powered by Palantir’s Foundry and AIP. BrokerOS is commercially live. OperatorOS launches in the second half of 2026. Latest Development: The Six Weeks That Changed the Story August 10: Q2 came through. Revenue reached $29.5M, topping the high end of guidance, while private charter revenue more than doubled year over year. Adjusted EBITDA loss came in at $10.5M, within guidance. The company also reaffirmed its full-year 2026 outlook and issued Q3 revenue guidance of $35.5M to $37.5M. July 1: The balance sheet strengthened. (SRFM) refinanced its senior secured convertible note, reducing principal by 64% and cutting monthly payments by as much as half, while securing a new $21.6M aircraft-backed facility. June 29: Palantir doubled down, publicly. Palantir issued its own press release committing additional engineering and go-to-market resources to accelerate OperatorOS, OwnerOS, and the enterprise products. June 26: Electric flight went live in Hawaii. BETA’s all-electric ALIA began a weeks-long demonstration campaign across the islands, with Hawaiian Airlines hosting the launch and supporting the program. June 25: Wheels Up became the first Enterprise BrokerOS customer. Wheels Up Experience (NYSE: UP), a major name in private aviation, signed on as the platform’s launch customer under an agreement expected to generate up to $12M in subscription fees. Management tied it together plainly. CEO Deanna White said the first quarter’s efficiency gains are "a clear indication of the value that SurfOS and our partnership with Palantir delivers." On the Q2 call, White called the quarter "strong," adding that the company delivered results "during one of the most volatile fuel cost environments the industry has experienced" and that it is now positioned to pursue "revenue growth and improved profitability simultaneously." You can even watch Palantir feature (SRFM) at its own AI conference. See the AIPCon session here. Today’s fleet and tomorrow’s: a Surf Air Mobility Cessna Caravan flying alongside the all-electric BETA ALIA. SRFM has placed a firm order for 25 aircraft with options for up to 75 more. Consider Starting Your Own Research On (SRFM) [ Company Website ] | [ Corporate News Portal ] 8 Reasons Why Surf Air Mobility Inc. (NYSE: SRFM) Just Landed at the Top of My Watchlist for Friday morning, August 21, 2026 1. A Marquee Customer Just Validated the Software: Wheels Up became the first company to deploy Enterprise BrokerOS under an initial two-year agreement, with an option for a third year, worth up to $12M in subscription fees. At Jefferies’ aerospace summit in early June, management said it was targeting its first major multi-year enterprise contract for 2026. Just 17 days later, Wheels Up signed on. 2. The Palantir Moat Keeps Getting Deeper: (SRFM) holds an exclusive agreement with Palantir for the configuration and sale of software to the Part 135 regional air mobility market. Palantir holds equity, featured the company at AIPCon, expanded the partnership on June 29, and former Palantir dealmaker Shawn Pelsinger becomes Chairman of the Board this month. 3. Guidance Is Moving the Right Way: After outperforming Q1 Adjusted EBITDA guidance, management improved its full-year 2026 Adjusted EBITDA loss outlook by roughly 40% to 30M, while maintaining revenue guidance of 138M, representing 20%–30% growth over 2025. 4. Q2 Showed Continued Progress: Second-quarter revenue reached $29.5M, hitting the high end of guidance and rising 8% year over year. Surf On Demand private charter revenue surged 101%, while revenue per flight increased 25%, driven by a greater mix of larger aircraft and longer flights. Adjusted EBITDA loss came in at $10.5M, within guidance despite higher fuel costs and weather-related cancellations in Hawaii. 5. SurfOS Is Live and Producing Real Numbers: BrokerOS has been commercially live since December 2025. Internal results comparing Q1 2026 to Q1 2025: 32% more bookings for top brokers, 57% faster quote-to-close, and 40% more payments processed on-platform, with 29 independent brokers enrolled and a target of 100 by year-end with its charter broker business. OperatorOS and OwnerOS are both on track for commercial launch in Q4 2026. 6. Electric Aviation Is Happening on Its Runways First: (SRFM) has a firm order for 25 all-electric BETA ALIA aircraft with options for up to 75 more, demonstration flights are already underway in Hawaii operated by BETA, and BETA was selected in seven of eight federal eIPP launch programs. Management notes the electric aircraft needs scheduled maintenance about twice a year versus 24 times for its current fleet, on top of estimated roughly 30% lower operating costs. 7. The Balance Sheet Has Improved Significantly: The July 1 refinancing reduced convertible note principal by 64% and cut monthly payments by as much as half, while moving debt away from more dilutive instruments. Subsidiaries also secured a $21.6M aircraft-backed loan, with an additional $14M funding tranche expected in August 2026. Over the past year, the company has reduced total debt by approximately 50%. 8. A Powerful Market Tailwind Is Taking Shape: Regional air mobility could grow into a 115B global market by 2035, according to McKinsey. Meanwhile, the global eVTOL aircraft market is projected to climb from roughly $5B in 2026 to about $216B by 2035 — an increase of more than 4,000%. And management estimates the full addressable market for SurfOS at approximately $156B. The Mokulele interisland network in Hawaii: nine airports, ten routes, and an average flight of just 56 miles. Consider Starting Your Own Research On (SRFM) [ Company Website ] | [ Corporate News Portal ] Before you call it a night, I think it is worth taking one more look at why (SRFM) has stayed front and center. The last six weeks bring the story into sharper focus: Wheels Up signed on as a marquee enterprise customer in an agreement worth up to $12M. Palantir expanded the partnership. Electric aircraft completed real-world demonstration missions over Hawaii with support from Hawaiian Airlines. The company refinanced its convertible debt, cutting principal by 64%. And Q2 followed with revenue and Adjusted EBITDA both landing within guidance, full-year guidance reaffirmed, and a Q3 outlook already in place. Add in guidance improved by roughly 40%, BrokerOS producing real internal results, a former Palantir executive now serving as board chairman, and analyst coverage that includes HC Wainwright at Buy with a $12 target, Northland at Outperform with a $5 target, and Alliance Global Partners at Buy with a $2.75 target, and it becomes clear why this company remains in focus. For context, SRFM recently trended below $1, and all three targets were published before both late-June announcements and the Q2 earnings report. Small caps carry real risk, and this one still posts consolidated losses as it invests in growth. One more signal worth noting: ARK recently reduced a pre-revenue position, while Citadel has disclosed a sizable stake in SRFM. According to an SEC filing, Citadel Advisors LLC, Citadel Advisors Holdings LP, and Citadel GP LLC collectively reported ownership of 6,909,862 shares, representing 7.1% of Surf Air Mobility’s outstanding common shares. Citadel also holds positions in eVTOL names Joby Aviation and Archer Aviation, giving it exposure across several corners of the emerging air mobility sector. Zooming out, the Advanced Air Mobility landscape continues to expand. Regional air mobility is projected to reach 115B by 2035, while Washington’s new eIPP program is set to begin putting electric aircraft into service this year. We have all eyes on (SRFM) this morning. Also, keep a lookout for my next update. And as always, please remember to do your own research. Sincerely, Jeff Ackerman Managing Editor Stock News Trends StockNewsTrends.com (“StockNewsTrends” or “SNT” ) is owned by TD Media LLC, a single member limited liability company. Data is provided from third-party sources and SNT is not responsible for its accuracy. Make sure to always do your own research and due diligence on any day and swing profile SNT brings to your attention. Any emojis used do not have a specific defined meaning, and may be used inconsistently. We do not provide personalized in-vest-ment advice, are not in-vest-ment advisors, and any profiles we mention are not suitable for all in-vest-ors. Pursuant to an agreement between TD Media LLC and LFG Equities Corp., TD Media LLC has been hired for a period beginning on 08/20/2026 and ending on 08/21/2026 to publicly disseminate information about (SRFM:US) via digital communications. Under this agreement, LFG Equities Corp. has paid TD Media LLC twenty five thousand USD (“Funds”). To date, including under the previously described agreement, TD Media LLC has been paid seven hundred sixty nine thousand USD (“Funds”). These Funds were part of the twenty five thousand USD funds that TD Media LLC received from a third party named LFG Equities Corp. who did not receive the Funds directly or indirectly from the Issuer and does not own stock in the Issuer but the reader should assume that the clients of the third party own shares in the Issuer, which they will liquidate at or near the time you receive this communication and has the potential to hurt share prices. Neither TD Media LLC and their member own shares of (SRFM:US). Please see important disclosure information here: https://lifewatermedia.com/disclosure/srfm-fMTHS/#details

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The $50 billion exit nobody warned you about

Silver Lake went back for seconds. What PE firms do when they run out of public targets  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Read online Dear Private Playbook Reader, Silver Lake just put in a bid for Workday. Fifty billion dollars, plus. That is not a typo. Three weeks before that, they closed the largest software buyout in history: a $55 billion take-private of Electronic Arts, financed with $20 billion in debt. Partners: Saudi Arabia's sovereign wealth fund and Affinity Partners. Two mega-deals. Three weeks. The mega-LBO is back. And the implications for B/I quadrant investors are significant.   INSIDE TODAY'S ISSUE • THE DEAL FLOOR: Silver Lake's $50B Workday bid signals the take-private wave is accelerating. What it tells us about public market valuations and where the real capital is moving. • THE IPO PIPELINE: SpaceX opened at $135 in June and is trading near $140 today. Pre-IPO secondary buyers on Forge saw something the public market missed. • THE PRIVATE CREDIT DESK: Fitch just reported a 6% private credit default rate, a 5-year record. BDC PIK loans nearly doubled in four years. The number every allocation decision should start with. • Oxford Club: He Called NVIDIA at $1.10. Now He Says Sell. THE DEAL FLOOR On August 4, 2026, Saudi Arabia's Public Investment Fund, Silver Lake, and Affinity Partners completed the $55 billion take-private of Electronic Arts. One of the largest leveraged buyouts in history. $20 billion of that was debt. Ten days later, Reuters reported Silver Lake is now exploring a similar deal for Workday. The HR and finance software company. Before the story broke, Workday traded at $43 billion. Shares jumped 18% on the news, closing at $206.45 and pushing the market cap above $51 billion. Two mega take-privates in three weeks. This is not coincidence. This is a playbook. Here is Silver Lake's thesis on Workday, as explained by Axios: "Large systems of record are less vulnerable to AI disruption, given they're ingrained in enterprises, hard to replicate, and can leverage data for AI initiatives." Translation: these are toll roads. The companies do not need to win the AI race. They just need to keep charging the toll. My rich dad told me: the rich do not wait for the IPO. They sell at the IPO. When PE firms take companies private at $50 billion, they are making a specific bet: the public market is mispricing the asset. The management team performs better without quarterly earnings pressure. And the exit, three to seven years from now, will be at a higher number. The problem for retail investors: when Workday goes private, you cannot buy it. That seat at the table belongs to investors who accessed private market structures before the deal closed.   But before I show you exactly how non-institutional investors have been accessing pre-take-private opportunities, there is a number in the private credit market that every allocation decision should start with. SPONSORED: OXFORD CLUB The Last Time This Happened, 125 Companies Went BANKRUPT... While One Stock Soared 14,000%... in just 4 years Something strange is happening in the market. The last time it happened, an entire industry got slaughtered, with 125 companies going bankrupt in a single year. But investors who understood WHY the crash was happening had a chance to make 14,000% or more. Today, this man, who called NVIDIA at $1.10 split adjusted, says the same pattern is playing out RIGHT NOW in the most dominant sector of the market. To watch his free presentation, click here. That number is 6%. THE PRIVATE CREDIT DESK Fitch Ratings reported the private credit default rate climbed to 6% through Q2 2026. That is a 5-year record. The Wall Street Journal found that loan defaults at funds managed by Ares Management, Blackstone, Blue Owl Capital, and Golub Capital all touched their highest levels since at least 2021. The Federal Reserve Bank of Boston published a paper in August 2026 examining 168 BDCs. Their finding: the share of BDC loans carrying payment-in-kind (PIK) terms rose from 5.4% in Q1 2022 to 9.8% in Q1 2026. PIK loans mean the borrower is not paying interest in cash. They are adding unpaid interest to the loan principal. The debt balance keeps growing. The cash never arrives. At the same time, private credit fundraising hit $190 billion in the first half of 2026. A 53% increase over H1 2025. More money chasing worse credits. Spreads on new direct-lending deals compressed from 300 basis points above leveraged loans in 2017-2018 to below 100 basis points today. This is not a reason to avoid private credit. It is a reason to be selective. The difference between a performing BDC and a non-performing BDC is not the asset class. It is the manager.   THE IPO PIPELINE SpaceX priced its IPO at $135 per share on June 12, 2026. Nasdaq: SPCX. The company raised $75 billion. The order book was four times oversubscribed, with more than $250 billion in orders. This week, SPCX is trading near $139.65. Pre-IPO secondary buyers who accessed SpaceX shares through Forge Global's marketplace before June 12 paid implied valuations below the $135 offer price. The IPO was the exit. Not the entry. The SEC is moving fast on the pipeline. On May 19, 2026, under the "Make IPOs Great Again" agenda, the Commission proposed broader Form S-3 shelf access and modernized S-1 requirements. Goldman Sachs projects 100 IPOs and $160 billion raised in 2026. SPAC issuance hit 118 deals and $20.9 billion raised in H1 2026, nearly double last year's pace.   THE CROWDFUNDING PULSE The SEC reform push extends downstream. The May 2026 proposals expand access for emerging growth companies and lower disclosure thresholds under Reg CF and Reg A+. Republic, Wefunder, and StartEngine are processing more deals. For investors who cannot meet accredited investor thresholds, Reg CF platforms now offer a structured entry point into early-stage deals that previously required venture capital relationships. The minimum bar is dropping. The pipeline is widening.   THE CASHFLOW QUADRANT APPLIED The EA deal is a clean case study in who wins and who doesn't when a company goes private. In the E and S quadrant: analysts expect significant layoffs at Electronic Arts. A leveraged buyout adds $18 billion in new debt to a company's balance sheet. The first action PE owners take is headcount reduction to service interest payments. The employees create the product. They have no stake in the outcome. In the B and I quadrant: the Saudi PIF, Silver Lake, and Affinity Partners own the company. Their equity benefits from every dollar of debt paid down. They set the exit timeline. They control the decisions. This is what my rich dad meant: "Employees make the most per hour. Owners keep the most per decade." The EA deal closed August 4, 2026. The take-private playbook is running again. Two mega-deals in three weeks is not noise. It is a signal.   To your unfair advantage, The Private Playbook Team P.S. You asked. It's back. Earlier this year, my team shared a private gold deal with our readers. A company that extracts 136 times more gold than a traditional miner. Our readers had two weeks. Then the financing was filled at thirty million dollars, and the doors closed. The emails started arriving the same day. Readers who watched the presentation, did their homework, and ran out of time. So I did something I have never done before. I went back to the company and asked them to reopen it. They had to file with federal regulators to extend the offering. Lawyers. Paperwork. Federal review. It took two months. It just cleared. Ten million dollars of additional allocation is open right now, at the same terms as the window that filled. WATCH THE PRESENTATION AND CLAIM YOUR SHARE OF THE 136X GOLD MINER One third the size of the first window. First-come, first-served. When it fills, it closes.   © 2026 The Private Playbook, an imprint of Freedom Financial Research, LLC 435 Merchant Walk Square, Ste 300-64 Charlottesville, VA 22902, United States Unsubscribe

This Air Mobility Platform (NYSE: SRFM) Just Climbed Our Watchlist For 8 Critical Reasons

American aviation is experiencing something significant, and it is happening rapidly.

Any content you receive is for information purposes only. Always conduct your own research. *Sponsored This Air Mobility Platform (NYSE: SRFM) Just Climbed Our Watchlist For 8 Critical Reasons Consider Starting Your Own Research On (SRFM)... [ Company Website ] | [ Corporate Communications ] *Get Our Updates Faster—Tap Here To Receive SMS Alerts* August 21st Greetings, Friend! American aviation is experiencing something significant, and it is happening rapidly. In March, the Secretary of Transportation announced a new federal program to put electric aircraft into real commercial service. He said it will "RADICALLY CHANGE the way people and products move." Washington does not talk like that about science projects. The government has decided electric aviation is happening now, not someday. The smart money got the message. Cathie Wood’s ARK In-vest and Ken Griffin’s Citadel have poured Mn’s into the sector’s famous names this year. But those famous names share one uncomfortable problem. They have never flown a single paying airline passenger. So ask the obvious question. When a new industry arrives, who actually stands to benefit? History says it is rarely the companies with the flashiest prototypes. It is the ones already flying. Now consider what Palantir did. The $300+Bn AI powerhouse behind Pentagon systems took equity as payment from one small aviation company, and featured it at its own AI conference. That company is Surf Air Mobility (NYSE: SRFM). While the air-taxi hopefuls burn cash on prototypes, (SRFM) already operates one of the largest commuter airlines in America. Roughly ~300,000 passengers a year and $109Mn in revenue over the last twelve months on its existing airline network. Now the number that should stop you cold. The entire company carries a market cap of roughly $87Mn (7/24/26), less than one single year of its own revenue, while the pre-revenue names command valuations in the Bn’s. Then came the last week of June, when everything accelerated at once. In seven days: a refinancing that cut convertible debt principal by 64%, an expanded partnership announced by Palantir itself, electric demonstration flights with BETA launching over Hawaii, and a landmark enterprise software deal with Wheels Up. Four major announcements. Seven days. One tiny company. And on August 10th, the follow-through arrived. Second quarter revenue came in at $29.5Mn, the high end of guidance and up 8% year-over-year, powered by Surf On Demand private charter revenue that more than doubled (+101%) compared to a year ago. Adjusted EBITDA loss landed at $10.5Mn, inside the company's guidance range, even through one of the most volatile fuel-cost stretches the industry has faced. Management reaffirmed full-year 2026 revenue guidance of $128Mn to $138Mn. And the electric story runs deeper. BETA Technologies, Surf Air’s aircraft partner, was chosen in seven of the eight wi-nn-ing federal programs, more than any other electric aircraft maker in the country. That is why Surf Air Mobility (NYSE: SRFM) will be topping my watchlist - Friday, August 21st, 2026. Surf Air Mobility (NYSE: SRFM) is a Los Angeles-based air mobility platform and one of the largest commuter airlines in the United States by scheduled departures. Over the last twelve months, the company flew 298,000 passengers on 59,000 scheduled departures, generating $109Mn in revenue. For full-year 2025, (SRFM) achieved its stated goal of pro-fit-able airline operations, defined as positive Adjusted EBITDA in its airline operations. And in the second quarter of 2026, the company delivered revenue at the high end of guidance and an Adjusted EBITDA loss within its guidance range, while reaffirming full-year targets.  Beyond flight operations, (SRFM) is building the digital backbone of air mobility. Its AI-enabled SurfOS operating system, powered by Palantir Technologies’ (NASDAQ: PLTR) Foundry and AIP platforms, is designed to run everything from scheduling to compliance to booking, for the entire industry. SurfOS, powered by Palantir’s Foundry and AIP. BrokerOS is commercially live. OperatorOS launches in the second half of 2026. Latest Development: The Seven Weeks That Changed the Story August 10th: Q2 delivered on the promise. Revenue of $29.5Mn beat the high end of guidance, private charter revenue more than doubled year-over-year, and Adjusted EBITDA loss of $10.5Mn landed inside guidance. The company reaffirmed full-year 2026 guidance and issued third-quarter guidance calling for $35.5Mn to $37.5Mn in revenue. July 1st: The balance sheet got cleaner. (SRFM) refinanced its senior secured convertible note, cutting the principal by 64% and monthly payments by up to half, while adding a $21.6Mn aircraft-backed facility. June 29th: Palantir doubled down, publicly. Palantir issued its own press release committing additional engineering and go-to-market resources to accelerate OperatorOS, OwnerOS, and the enterprise products. June 26th: Electric flight went live in Hawaii. BETA’s all-electric ALIA began a weeks-long demonstration campaign across the islands, with Hawaiian Airlines hosting the launch and supporting the program. June 25th: Wheels Up became customer number one. Wheels Up Experience (NYSE: UP), one of the biggest names in private aviation, signed on as the launch customer for Enterprise BrokerOS under an agreement expected to deliver up to $12Mn in subscription fees. Management tied it together plainly. CEO Deanna White said the first quarter’s efficiency gains are "a clear indication of the value that SurfOS and our partnership with Palantir delivers." On the Q2 call, White called the quarter "strong," adding that the company delivered results "during one of the most volatile fuel cost environments the industry has experienced" and that it is now positioned to pursue "revenue growth and improved pro-fit-ability simultaneously." You can even watch Palantir feature (SRFM) at its own AI conference. See the AIPCon session here. Today’s fleet and tomorrow’s: a Surf Air Mobility Cessna Caravan flying alongside the all-electric BETA ALIA. SRFM has placed a firm order for 25 aircraft with options for up to 75 more. Consider Starting Your Own Research On (SRFM)... [ Company Website ] | [ Corporate Communications ] 8 Reasons Why Surf Air Mobility Inc. (NYSE: SRFM) Just Landed at the Top of My Watchlist for Friday, August 21st, 2026 1. A Marquee Customer Just Validated The Software: Wheels Up is the first company to deploy Enterprise BrokerOS, in a deal with an initial two-year term plus an option for a third, worth up to $12Mn in subscription fees. At Jefferies’ aerospace summit in early June, management targeted its first multi-year, multi-Mn dollar enterprise contract for 2026. Seventeen days later, Wheels Up signed. 2. The Palantir Moat Keeps Getting Deeper: (SRFM) holds an exclusive agreement with Palantir for the configuration and sale of software to the Part 135 regional air mobility market. Palantir holds equity, featured the company at AIPCon, expanded the partnership on June 29th, and former Palantir dealmaker Shawn Pelsinger became Chairman of the Board. 3. Guidance Is Moving The Right Way: After beating Q1 Adjusted EBITDA guidance, management improved 2026 Adjusted EBITDA loss guidance by approximately 40%, to $30-$25Mn, while maintaining revenue guidance of $128-$138Mn, reflecting 20-30% growth over 2025. 4. Q2 Proved the Model Out: Second quarter revenue of $29.5Mn came in at the high end of guidance, an 8% year-over-year increase, with Surf On Demand private charter revenue up 101% year-over-year and revenue per flight up 25% on continued mix shift to larger aircraft and longer flights. Adjusted EBITDA loss of $10.5Mn landed within guidance despite elevated fuel costs and weather-related cancellations in Hawaii. 5. SurfOS Is Live And Producing Real Numbers: BrokerOS has been commercially live since December 2025. Internal results comparing Q1 2026 to Q1 2025: 32% more bookings for top brokers, 57% faster quote-to-close, and 40% more payments processed on-platform, with 29 independent brokers enrolled and a target of 100 by year-end with its charter broker business. 6. Electric Aviation Is Happening on Its Runways First: (SRFM) has a firm order for 25 all-electric BETA ALIA aircraft with options for up to 75 more, demonstration flights are already underway in Hawaii operated by BETA, and BETA was selected in seven of eight federal eIPP launch programs. Management notes the electric aircraft needs scheduled maintenance about twice a year versus 24 times for its current fleet of aircrafts, on top of estimated roughly 30% lower operating costs. 7. The Balance Sheet Just Got Dramatically Cleaner: The July 1st refinancing cut convertible note principal by 64% and monthly payments by up to half, shifting debt away from dilutive instruments. Subsidiaries also secured a $21.6Mn aircraft-backed loan to boost liquidity with a second $14Mn funding tranche expected in August 2026. The company has reduced total debt by approximately 50% over the last year. 8. A Massive Market Tailwind Is Forming: The regional air mobility market is anticipated to expand to $75-$115Bn globally by 2035. The global eVTOL aircraft market is forecast to grow from around $5Bn in 2026 to roughly $216Bn by 2035, an increase of more than 4,000%. Management sizes the full SurfOS opp. at an estimated $156Bn. The Mokulele interisland network in Hawaii: nine airports, ten routes, and an average flight of just 56 miles. Consider Starting Your Own Research On (SRFM)... [ Company Website ] | [ Corporate Communications ] Final Thoughts Before you call it, I think it is worth taking one more look at why (SRFM) has stayed front and center. The last several weeks tie the whole story together. A marquee enterprise customer in Wheels Up worth up to $12Mn. Palantir expanded the partnership in its own words. Electric aircraft flying real demonstration missions over Hawaii with Hawaiian Airlines supporting. And a refinancing that cut convertible debt by 64%. And now, a second quarter that hit guidance on both revenue and Adjusted EBITDA, with full-year guidance reaffirmed and a third-quarter outlook already on the board. Add in guidance improved by roughly 40%, BrokerOS producing real internal results, a former Palantir executive becomes board chairman, and analyst coverage that includes HC Wainwright with a $12 target, Northland at Outperform with a $5 target, and Alliance Global Partners with a $2.75 target, and it becomes clear why this company remains in focus. For context, this profile recently trended just below $1 earlier this month, and all three targets were published before the late-June announcements and the Q2 results. Small caps carry real risk, and this one still posts consolidated losses as it in-vests in growth. Zooming out, the Advanced Air Mobility backdrop keeps expanding. Forecasts project regional air mobility at $75-$115Bn by 2035, and Washington’s new eIPP program is putting electric aircraft into service starting this year. Our full focus will be on (SRFM) Friday. Also, keep a lookout for updates. And as always, please remember to do your own research. All the best, Dane James Editor Market Pulse Today (Remember: St-ock Prices Could Be Significantly Lower Now From The Original Dates I Provided.) *MarketPulseToday.com (“MarketPulseToday” or “MPT” ) is owned by Thousand Sun Media LLC, MPT is not responsible for its accuracy. Make sure to always do your own research and due diligence on any day and swing profile MPT brings to your attention. Any emojis used do not have a specific defined meaning, and may be used inconsistently. We do not provide personalized in-vest-ment advice, are not in-vest-ment advisors, and any profiles we mention are not suitable for all in-vest-ors. Pursuant to an agreement between Thousand Sun Media LLC and TD Media LLC, Thousand Sun Media LLC has been hired for a period beginning on 08/20/2026 and ending on 08/21/2026 to publicly disseminate information about (SRFM:US) via digital communications. Under this agreement, TD Media LLC has paid Thousand Sun Media LLC seven thousand five hundred USD ("Funds"). To date, including under the previously described agreement, Thousand Sun Media LLC has been paid seventy one thousand five hundred USD ("Funds"). These Funds were part of the twenty five thousand USD funds that TD Media LLC received from a third party named LFG Equities Corp. who did not receive the Funds directly or indirectly from the Issuer and does not own st-ock in the Issuer but the reader should assume that the clients of the third party own shares in the Issuer, which they will liquidate at or near the time you receive this communication and has the potential to hurt share prices. 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