Here are the 10-K annual reports from Surf Air Mobility Inc. (SRFM) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow SRFM and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SRFM filings page.
Surf Air Mobility Inc. filed Amendment No. 1 to its 2025 annual report to add detailed Part III information on directors, executive compensation, ownership, related-party transactions and auditor fees, and to update filer status disclosures. No financial statements were changed in this amendment.
The filing outlines the board’s classified structure, committee independence, stock ownership guidelines, incentive and severance terms for the CEO and CFO, significant equity awards, and major shareholders and financing relationships, including notes and advisory agreements with LamVen, Park Lane and other related parties.
Surf Air Mobility Inc. reports continued heavy losses and significant funding needs as it pursues a regional air mobility strategy built around commuter airlines, charter services and future electrified aircraft. The company posted a net loss of $110.6 million in 2025, wider than $74.9 million in 2024, and discloses substantial doubt about its ability to continue as a going concern.
Surf Air served over 300,000 passengers in 2025 with roughly 62,000 scheduled departures, operating a 41‑aircraft fleet, including 39 Cessna Caravans, and generated $29.6 million from on‑demand charter operations. It leverages Essential Air Service contracts and interline agreements with major airlines while developing its SurfOS AI‑enhanced software platform and pursuing fully‑electric and hybrid‑electric powertrain certifications.
As of December 31 2025, debt totaled $97.1 million and future aircraft lease commitments were about $12.8 million. The company is in default on certain taxes and other obligations and plans to rely on a $400 million share subscription facility with GEM, which could be highly dilutive. Surf Air employed 573 people and had 76,993,252 common shares outstanding as of March 6 2026.