Surf Air Mobility reported 3Q26 revenue of $36.5M, up 25% y/y and 24% q/q, while adjusted EBITDA loss narrowed 32% y/y to $6.7M. Surf On Demand became the Company’s largest revenue contributor, with revenue increasing 121% y/y to $19.0M and gross margin expanding more than 400 bps as higher-value trips, preferred operator relationships, and Powered by Surf On Demand improved unit economics. Airline adjusted EBITDA reached positive $1.2M despite lower scheduled-service revenue, while OperatorOS launched commercially with five operators signed and the initial Wheels Up deployment underway. Management maintained FY26 revenue guidance of $128M–$138M but revised adjusted EBITDA loss guidance to $35M–$32M, with continued On Demand scaling, airline efficiencies, and SurfOS commercialization remaining the primary drivers of the 2027 outlook.