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Side-by-side financial comparison of SURF AIR MOBILITY INC. (SRFM) and TAT TECHNOLOGIES LTD (TATT), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
TAT TECHNOLOGIES LTD is the larger business by last-quarter revenue ($46.2M vs $26.4M, roughly 1.7× SURF AIR MOBILITY INC.). TAT TECHNOLOGIES LTD runs the higher net margin — -139.4% vs 10.5%, a 149.9% gap on every dollar of revenue. TAT TECHNOLOGIES LTD produced more free cash flow last quarter ($4.8M vs $-20.1M).
Surf Air Mobility Inc. is an American aviation company focused on regional flying. The company plans to develop electric and hybrid powertrains to upgrade existing aircraft. Surf Air Mobility is also developing AI-enabled SurfOS operating system for the regional air mobility industry. Surf Air Mobility is the parent company of Surf Air, Surf On Demand, and two airlines, Mokulele Airlines and Southern Airways Express.
TAT Technologies Ltd. is a publicly traded company, headquartered in the United States, providing environmental control products and services for the commercial and military aviation industries. Its shares are traded on the NASDAQ Capital Market and on the Tel Aviv Stock Exchange.
SRFM vs TATT — Head-to-Head
Income Statement — Q4 2025 vs Q3 2025
| Metric | | |
|---|---|---|
| Revenue | $26.4M | $46.2M |
| Net Profit | $-36.9M | $4.8M |
| Gross Margin | — | 25.1% |
| Operating Margin | -97.8% | 11.4% |
| Net Margin | -139.4% | 10.5% |
| Revenue YoY | -5.7% | — |
| Net Profit YoY | -3015.3% | — |
| EPS (diluted) | $-0.08 | $0.37 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q4 25 | $26.4M | — | ||
| Q3 25 | $29.2M | $46.2M | ||
| Q2 25 | $27.4M | $43.1M | ||
| Q1 25 | $23.5M | — | ||
| Q4 24 | $28.0M | — | ||
| Q3 24 | $28.4M | — | ||
| Q2 24 | $32.4M | — | ||
| Q1 24 | $30.6M | — |
| Q4 25 | $-36.9M | — | ||
| Q3 25 | $-27.2M | $4.8M | ||
| Q2 25 | $-28.0M | $3.4M | ||
| Q1 25 | $-18.5M | — | ||
| Q4 24 | $1.3M | — | ||
| Q3 24 | $-12.2M | — | ||
| Q2 24 | $-27.0M | — | ||
| Q1 24 | $-37.0M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 25.1% | ||
| Q2 25 | — | 25.1% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -97.8% | — | ||
| Q3 25 | -56.6% | 11.4% | ||
| Q2 25 | -58.1% | 10.3% | ||
| Q1 25 | -79.0% | — | ||
| Q4 24 | 28.9% | — | ||
| Q3 24 | -30.4% | — | ||
| Q2 24 | -78.0% | — | ||
| Q1 24 | -112.6% | — |
| Q4 25 | -139.4% | — | ||
| Q3 25 | -93.3% | 10.5% | ||
| Q2 25 | -102.1% | 8.0% | ||
| Q1 25 | -78.6% | — | ||
| Q4 24 | 4.5% | — | ||
| Q3 24 | -43.1% | — | ||
| Q2 24 | -83.4% | — | ||
| Q1 24 | -120.7% | — |
| Q4 25 | $-0.08 | — | ||
| Q3 25 | $-0.64 | $0.37 | ||
| Q2 25 | $-1.34 | $0.30 | ||
| Q1 25 | $-1.09 | — | ||
| Q4 24 | $0.80 | — | ||
| Q3 24 | $-0.94 | — | ||
| Q2 24 | $-2.31 | — | ||
| Q1 24 | $-3.35 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $12.7M | $47.1M |
| Total DebtLower is stronger | $17.1M | — |
| Stockholders' EquityBook value | $-54.9M | $170.7M |
| Total Assets | $131.7M | $224.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $12.7M | — | ||
| Q3 25 | $7.1M | $47.1M | ||
| Q2 25 | $22.6M | $43.1M | ||
| Q1 25 | $6.6M | — | ||
| Q4 24 | $21.1M | — | ||
| Q3 24 | $506.0K | — | ||
| Q2 24 | $1.5M | — | ||
| Q1 24 | $1.3M | — |
| Q4 25 | $17.1M | — | ||
| Q3 25 | $63.8M | — | ||
| Q2 25 | $63.3M | — | ||
| Q1 25 | $62.9M | — | ||
| Q4 24 | $62.4M | — | ||
| Q3 24 | $22.5M | — | ||
| Q2 24 | $23.3M | — | ||
| Q1 24 | $25.1M | — |
| Q4 25 | $-54.9M | — | ||
| Q3 25 | $-92.6M | $170.7M | ||
| Q2 25 | $-115.5M | $165.8M | ||
| Q1 25 | $-135.6M | — | ||
| Q4 24 | $-120.0M | — | ||
| Q3 24 | $-135.6M | — | ||
| Q2 24 | $-128.1M | — | ||
| Q1 24 | $-106.3M | — |
| Q4 25 | $131.7M | — | ||
| Q3 25 | $106.8M | $224.1M | ||
| Q2 25 | $129.0M | $213.6M | ||
| Q1 25 | $105.3M | — | ||
| Q4 24 | $124.1M | — | ||
| Q3 24 | $97.9M | — | ||
| Q2 24 | $105.5M | — | ||
| Q1 24 | $108.8M | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-18.4M | $7.5M |
| Free Cash FlowOCF − Capex | $-20.1M | $4.8M |
| FCF MarginFCF / Revenue | -76.0% | 10.3% |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | 6.5% | 5.9% |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | — | 1.55× |
| TTM Free Cash FlowTrailing 4 quarters | $-70.1M | — |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $-18.4M | — | ||
| Q3 25 | $-19.3M | $7.5M | ||
| Q2 25 | $-10.6M | $6.9M | ||
| Q1 25 | $-15.8M | — | ||
| Q4 24 | $-23.6M | — | ||
| Q3 24 | $-12.3M | — | ||
| Q2 24 | $-5.6M | — | ||
| Q1 24 | $-12.8M | — |
| Q4 25 | $-20.1M | — | ||
| Q3 25 | $-21.1M | $4.8M | ||
| Q2 25 | $-11.9M | $3.6M | ||
| Q1 25 | $-17.1M | — | ||
| Q4 24 | $-32.7M | — | ||
| Q3 24 | $-13.6M | — | ||
| Q2 24 | $-6.3M | — | ||
| Q1 24 | $-13.5M | — |
| Q4 25 | -76.0% | — | ||
| Q3 25 | -72.2% | 10.3% | ||
| Q2 25 | -43.2% | 8.5% | ||
| Q1 25 | -72.6% | — | ||
| Q4 24 | -116.5% | — | ||
| Q3 24 | -47.8% | — | ||
| Q2 24 | -19.5% | — | ||
| Q1 24 | -44.2% | — |
| Q4 25 | 6.5% | — | ||
| Q3 25 | 5.9% | 5.9% | ||
| Q2 25 | 4.4% | 7.7% | ||
| Q1 25 | 5.4% | — | ||
| Q4 24 | 32.4% | — | ||
| Q3 24 | 4.4% | — | ||
| Q2 24 | 2.2% | — | ||
| Q1 24 | 2.3% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.55× | ||
| Q2 25 | — | 2.02× | ||
| Q1 25 | — | — | ||
| Q4 24 | -18.64× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
Revenue Breakdown by Segment
SRFM
| Scheduled | $17.2M | 65% |
| On Demand | $9.2M | 35% |
TATT
Segment breakdown not available.
