Results
BETA Technologies, Inc. Announces Third Quarter 2026 Results
Company delivers record quarterly revenue, achieves landmark FAA market survey authorization and surpasses key year-end goals ahead of schedule.
SOUTH BURLINGTON, Vt. – November 3, 2026 – BETA Technologies, Inc. (NYSE: BETA) (“BETA” or the “Company”), an aerospace and defense company, today announced its financial and operating results for the third quarter ended September 30, 2026.
5“This was our strongest quarter of revenue since inception, and we’re exceeding the targets we set at the beginning of 2026,” said Kyle Clark, founder and chief executive officer of BETA.
1“We’ve now flown more than 250,000 nautical miles, advanced commercial operations through our eIPP launches, and secured a historic FAA authorization to fly prospective customers aboard our A250 electric VTOL aircraft.
Each of these milestones builds on years of engineering and real-world operating experience.
Our vertically integrated, stepwise approach allows us to take what we're learning in the field and apply it directly to improving our aircraft.
We’re demonstrating that our partnerships and strategy are working, and we are carrying that momentum into scaling production as we advance toward commercial certification.”
Business Highlights
Achieved Historic FAA Authorization: BETA’s A250 became the first electric vertical takeoff and landing (VTOL) aircraft to receive a Federal Aviation Administration (“FAA”) Special Airworthiness Certificate for market surveys, enabling demonstration flights with customers onboard ahead of type certification.
The authorization builds on years of rigorous A250 flight testing and BETA’s existing CX300 market survey authorization, broadening opportunities to demonstrate both aircraft in real-world operating environments.
2Delivered Record Revenue: Generated record quarterly revenue of $17.7 million, representing 98% year-over-year growth and exceeding the Company’s guidance range.
Revenue is entirely organic.
Surpassed Year-End Flight Target: Exceeded 250,000 nautical miles flown across BETA’s aircraft fleet ahead of schedule, building operational experience across a range of missions and environments.
This milestone reflects the continued expansion of flight operations across both CTOL and VTOL aircraft, generating valuable real-world performance data to support ongoing development and certification efforts.
3Expanded Charging Network to 168 Sites: Increased the reach of BETA’s open, interoperable charging infrastructure, supporting aircraft operations across the United States and providing the infrastructure for broader electric aviation adoption.
4Increased Aircraft Backlog: Increased commercial aircraft backlog to just over $4.0 billion, surpassing the Company’s year-end target.
The backlog represents 1,040 aircraft in firm and option orders supported by financial commitments.
Broadened Electric Aviation Operations Across the United States: BETA has launched 6 of the 7 selections in the FAA’s eVTOL Integration Pilot Program (eIPP).
Select missions included transporting medical supplies in North Carolina, delivering emergency response equipment in Texas and moving time-sensitive cancer medicines in Utah.
Financial Highlights
Q3 Revenues of $17.7 million
Q3 Net loss of ($119.1) million
Q3 Adjusted EBITDA of ($97.4) million
Third Quarter 2026 Key Financial Metrics
(1) In addition to results determined in accordance with U.S. generally accepted accounting principles (“GAAP”), this press release contains financial measures that are not calculated and presented in accordance with GAAP.
See “Non-GAAP Financial Measures” for definitions of these non-GAAP financial measures.
A reconciliation of the non-GAAP measures to their related GAAP measures can be found in the supplemental tables later in this press release.
(2) Represents purchases of property and equipment.
Revenues for the quarter ended September 30, 2026 were $17.7 million, compared to $8.9 million for the quarter ended September 30, 2025.
Product revenues and service revenues were $5.2 million and $12.5 million, respectively.
Operating expenses for the quarter ended September 30, 2026 were $140.5 million, including research and development expenses of $90.5 million.
Non-cash warrant expense related to the collaborative arrangement with GE Aerospace of $5.8 million was embedded in research and development expenses in the quarter.
Investments in research and development enable BETA’s certification programs and the further advancement of its enabling technologies.
Net loss and Adjusted EBITDA for the quarter ended September 30, 2026 were ($119.1) million and ($97.4) million, respectively.
8Capital expenditures for the quarter ended September 30, 2026 were $28.8 million, compared to $13.0 million for the quarter ended September 30, 2025.
7Cash and cash equivalents totaled $1,343.1 million as of September 30, 2026, compared to $687.6 million as of September 30, 2025, reflecting successful private financings and the proceeds from our IPO.
6BETA increases full year 2026 revenue guidance to be in the range o f $52 million to $57 million and maintains full year 2026 Adjusted EBITDA guidance to be in the range of ($400) million to ($445) million.
BETA has not reconciled its 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.
Investors should note that BETA may use our website (investors.beta.team) and BETA’s company account on Instagram and LinkedIn as a means of disclosing information and for complying with BETA’s disclosure obligations under Regulation FD.
The information BETA provides through these channels may be deemed material.
BETA (NYSE: BETA) is an aerospace and defense company designing, manufacturing and selling high-performance electric aircraft, advanced electric propulsion systems, components and charging systems to top operators worldwide.
BETA’s intentional approach to developing the enabling technologies necessary to electrify aviation unlocks lucrative aftermarket revenue opportunity over the life of each aircraft.
These highly scalable enabling technologies allow BETA to serve a customer base across cargo and logistics, defense, passenger and medical end markets and unlock cost-effective and safe missions.
Visit www.beta.team for more information about BETA and its products.
Nat Bol, external communications
Devon Rothman, head of investor relations and FP&A
Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions.
In addition to traditional financial metrics, we use EBITDA and Adjusted EBITDA to help us evaluate our business.
We define EBITDA as net loss adjusted for interest income, interest expense, provision for income taxes, and depreciation and amortization.
We define Adjusted EBITDA as EBITDA adjusted for loss on issuance of convertible preferred stock, stock-based compensation, warrant expense, acquisition-related expense, asset disposal and other related costs, and IPO costs.
We believe that these non-GAAP measures provide useful information to investors because they allow for greater transparency into what measures we use in operating our business and measuring our performance and enable comparison of financial trends and results between periods where items may vary independent of business performance.
These non-GAAP measures are presented for supplemental informational purposes and should not be considered as substitutes for or superior to financial information presented in accordance with GAAP.
It may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names.
Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures.
In addition, investors are encouraged to review our consolidated financial statements included in our filings with the SEC in their entirety and not rely solely on any single financial measure.
We caution readers that our definitions of these non-GAAP financial measures may not be calculated in the same manner as similar measures used by other companies.
Reconciliations of the non-GAAP financial measures to their most comparable GAAP financial measures are included in the supplemental tables attached to this press release.
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