BETA Technologies, Inc., an electric aerospace company leading in the development and commercialization of electric aircraft, charging infrastructure, and aerospace-grade electric propulsion, today announced its financial and operating results for the fourth quarter and full year ended December 31, 2025.

Kyle Clark, President and Chief Executive Officer, commented, “2025 was a defining year for BETA. We entered the public markets backed by world class investors and strong support from our strategic partners. We demonstrated our capabilities in the air to customers, partners and regulators, reaching a total of over 100,000 nautical miles flown. We sustained that momentum through certification milestones across our family of aircraft, continued expansion of our charging network domestically and internationally, and added to our commercial aircraft and component backlog. With a healthy balance sheet and clear milestones ahead in 2026, we are set to maintain our commanding lead in electric aviation.”

Business Highlights

- Record-Setting Flights and Global Demonstrations: Conducted demonstration flights with our customers in Norway and New Zealand, performed in the Paris Air Show and Oshkosh, completed the first all-electric passenger flight to New York’s JFK Airport, and set multiple world records in the Pulitzer Air Race.

- Progressed H500A Electric Engine Certification Testing: Completed build and FAA conformity inspections on all H500A test units to support FAA certification testing of the H500A electric engine. Program on track for FAA type certification in the first half of 2026.

- Expanded Charging Network: Continued expansion of charging network domestically and internationally, growing current total sites to 107, of which 57 are active.

- Built Upon High-Quality Backlog for both Aircraft and Components: As of December 31, 2025, BETA had an existing commercial aircraft backlog with world-class operators of 891 aircraft worth approximately $3.5 billion, of which 289 are firm orders, 602 are options. Additionally, BETA was selected to supply its motors to Eve Air Mobility, a 10-year opportunity worth up to $1 billion.

- Deepened Strategic Partnerships: Continued to build upon existing relationships with leaders in aerospace and defense, including GE Aerospace, General Dynamics Applied Physical Services and Eve Air Mobility, moving towards new phases of each partnership.

- Advanced Autonomous Flight Capabilities: Completed first ALIA CTOL aircraft built to advance capabilities for autonomous flight. BETA has received more than $4 million of project funding provided through a contract with U.S. Army Combat Capabilities Development Command.

- Positioned to Start U.S. Aircraft Deliveries: In partnership with multiple states BETA expects to deploy its aircraft to advance operations in communities nationwide while expanding the use of BETA's charging network through the eVTOL Integration Pilot Program (eIPP).

Financial Highlights

- FY25 Revenues of $35.6 million

- FY25 Net loss of ($745.9) million

- FY25 Adjusted EBITDA of ($304.1) million

Revenues for the quarter ended December 31, 2025 were $11.1 million, compared to $4.4 million for the quarter ended December 31, 2024. Product revenues and Service revenues for the quarter ended December 31, 2025 were $4.4 million and $6.7 million, respectively. Revenues for the year ended December 31, 2025 were $35.6 million, compared to $15.1 million for the year ended December 31, 2024. Product revenues and Service revenues for the year ended December 31, 2025 were $12.4 million and $23.2 million, respectively. The increase in Product revenues was due to deliveries of BETA motors and other enabling technologies in both the quarter and the year ended December 31, 2025. The increase in Service revenues was driven by engineering services contracts with commercial and government customers and charging network access fees in both the quarter and the year ended December 31, 2025.

Operating expenses for the quarter and year ended December 31, 2025 were $141.7 million and $398.4 million, respectively. Operating expenses included research and development expenses of $89.4 million and $259.9 million for the quarter and full year, respectively. Non-cash warrant expense related to the collaborative arrangement with GE Aerospace of $5.8 million and $6.1 million, respectively, was embedded in research and development expenses in both the quarter and year ended December 31, 2025. Investments in research and development enable our certification programs and the further advancement of our enabling technologies.

For the quarter and year ended December 31, 2025, Net loss was ($150.0) million and ($745.9) million, respectively.

For the quarter and the year ended December 31, 2025, Adjusted EBITDA was ($103.5) million and ($304.1) million, respectively.

Capital expenditures for the quarter ended December 31, 2025 were $19.8 million, compared to $21.8 million for the quarter ended December 31, 2024. Capital expenditures for the year ended December 31, 2025 were $45.4 million, down from $73.5 million for the year ended December 31, 2024.

Cash and cash equivalents totaled $1.7 billion as of December 31, 2025, compared to $301.4 million as of December 31, 2024, as a result of successful private financings and the proceeds from our IPO.

Financial Outlook

BETA currently expects full year 2026 revenues to be in the range of $39 million to $43 million and full year 2026 Adjusted EBITDA to be in the range of ($305) million to ($395) million.

BETA has not reconciled our forward-looking Adjusted EBITDA guidance because certain items that impact this non-GAAP metric are uncertain or out of BETA's control and cannot be reasonably predicted. In particular, stock-based compensation expense is impacted by the future fair market value of BETA's Class A common stock, BETA's future hiring needs, and other factors, all of which are difficult to predict, subject to frequent change, or not within BETA's control. The actual amount of these expenses during 2026 could materially affect BETA's future GAAP financial results. Accordingly, a reconciliation of this forward-looking non-GAAP metric is not available without unreasonable effort.