BETA · BETA Technologies, Inc.

BETA Technologies' Q1 2026 results reflect continued investment in electrification of aviation, with revenue growing modestly to $10.1 million from $9.6 million year-over-year, primarily from services ($9.2 million) offsetting a decline in product revenues ($0.9 million). Gross margin contracted to $5.8 million due to higher cost of revenues, while operating expenses surged 62% to $138.8 million, led by R&D at $91.7 million—including $5.6 million non-cash warrant expense tied to the GE Aerospace collaboration—and G&A at $47.1 million. This drove operating loss to $133.0 million and net loss to $122.3 million, wider than prior year amid certification and scaling efforts. CEO Kyle Clark highlighted leadership in eVTOL with seven of eight FAA eIPP selections across 26 states, expansion of charging network to 123 sites, and backlog addition exceeding $375 million to reach $3.9 billion for 991 aircraft, including Surf Air Mobility partnership. Technical milestones included completing preliminary design review for hybrid turbogenerator with GE Aerospace and over 85,000 hours of H500A engine testing. Cash reserves ballooned to $1.6 billion from IPO and financings, supporting $24.2 million capex. Guidance reaffirms FY2026 revenue at $39-43 million but widens Adjusted EBITDA loss to ($355)-($445) million, signaling heavy spending on type certifications and production ramp to meet demand.