02:02 PM EDT, 03/12/2024 (MT Newswires) -- Blade Air Mobility ( BLDE ) shares were down more than 28% in recent trading on Tuesday, after it announced Q4 results earlier in the day.

The company reported Q4 net loss of $33.9 million, widening from a net loss of $15.4 million a year earlier.

Three analysts polled by Capital IQ expected a net loss of $9.2 million.

Revenue for the quarter ended Dec. 31 was $47.5 million, up from $38.1 million a year earlier. Analysts surveyed by Capital IQ expected $48.4 million.

The company expects 2024 revenue in the range of $240 million to $250 million. Analysts polled by Capital IQ expect $257.1 million.

Price: 2.86, Change: -1.14, Percent Change: -28.45