BETA Technologies reported record third-quarter revenue and a net loss of $119.1 million as it advanced flight testing, expanded its charging network and secured a new FAA authorization for its A250 electric vertical-takeoff-and-landing aircraft. The company said it exceeded several targets it had set for 2026 ahead of schedule, including its goals for flight miles and aircraft backlog.
The FAA authorization allows BETA to fly prospective customers aboard the A250 for market-survey demonstrations before the aircraft receives type certification. It is a step toward commercial operations, but it is not certification for regular commercial service.
Financial performance
- Revenue was $17.7 million, up 98% from $8.9 million a year earlier. BETA said the revenue was entirely organic and above its guidance range.
- The company reported a net loss of $119.1 million and adjusted EBITDA loss of $97.4 million for the quarter.
Operating and commercial progress
- The A250 became the first electric VTOL aircraft to receive an FAA Special Airworthiness Certificate for market surveys, permitting demonstration flights with customers on board ahead of type certification. BETA already has a market-survey authorization for its CX300 aircraft.
- BETA’s aircraft fleet has flown more than 250,000 nautical miles, surpassing the company’s year-end target early. The miles were accumulated across conventional takeoff-and-landing and VTOL aircraft, providing operational data for development and certification work.
- Commercial aircraft backlog rose to just over $4.0 billion, above the company’s year-end target. It represents 1,040 aircraft in firm and option orders supported by financial commitments; the total includes options as well as firm orders.
- BETA expanded its open, interoperable charging network to 168 sites across the United States.
- The company has launched six of the seven selections it received in the FAA’s eVTOL Integration Pilot Program. Example missions included transporting medical supplies in North Carolina, emergency-response equipment in Texas and time-sensitive cancer medicines in Utah.
What changes
The new FAA authorization gives BETA a way to demonstrate the A250 with prospective customers before type certification, while the existing CX300 authorization supports demonstrations with that aircraft as well. The milestone expands BETA’s ability to operate in real-world settings, but the company remains on a path toward commercial certification. Its record revenue and larger backlog show commercial activity, while the quarterly losses remain substantial.