TLDR
- Q4 revenue reached $11.13M, representing a 150.7% year-over-year increase and surpassing estimates by $3.27M
- GAAP EPS came in at -$2.02, falling short of projections by $1.50; annual net loss totaled $745.9M
- Aircraft backlog comprises 891 planes valued at approximately $3.5B; firm orders account for 289 units
- 2026 revenue projection of $39M–$43M exceeds consensus estimate of $33.96M
- Cash reserves expanded to $1.71B after IPO completion and private financing activities
BETA Technologies delivered Q4 2025 financial results that painted a mixed picture for investors. The company’s revenue performance exceeded Wall Street projections significantly, while per-share losses ran deeper than analysts anticipated.
Quarterly revenue totaled $11.13M, marking a 150.7% increase from the $4.44M figure posted in Q4 2024. The result surpassed analyst forecasts by $3.27M. Annual revenue climbed to $35.6M, compared to $15.1M in the previous year.
The per-share loss figure proved more challenging. GAAP EPS registered at -$2.02, falling $1.50 below analyst expectations. Annual net losses expanded to $745.9M, representing more than twice the $275.6M deficit recorded in 2024.
Full-year operating expenses totaled $398.4M. Research and development spending accounted for $259.9M as the company advances through FAA certification testing for its H500A electric engine.
CEO Kyle Clark characterized 2025 as a “defining year,” highlighting the company’s public offering, accumulation of over 120,000 nautical miles in flight operations, and advancement across aircraft certification initiatives.
Backlog and Partnerships
BETA’s commercial aircraft order book stood at 891 aircraft as of December 31, 2025, representing approximately $3.5B in total value. Firm orders comprise 289 units, while options account for 602 aircraft.
The company secured a contract to provide motors to Eve Air Mobility through a 10-year agreement valued at up to $1B. Collaborative relationships with GE Aerospace and General Dynamics Applied Physical Services continued advancing.
The charging infrastructure network expanded to 107 total locations, with 57 sites operational. The company achieved a milestone by completing the first all-electric passenger flight into New York’s JFK Airport during 2025.
BETA secured over $4M in U.S. Army funding to develop autonomous flight technologies, completing its first ALIA CTOL aircraft designed specifically for autonomous operations.
2026 Outlook
BETA closed 2025 with cash holdings of $1.71B, a substantial increase from $301.4M at year-end 2024. The capital was raised through public offering proceeds and private financing transactions executed throughout the year.
The company projects 2026 full-year revenue in the $39M–$43M range, surpassing the $33.96M consensus forecast. Adjusted EBITDA is anticipated to fall between -$305M and -$395M.
The H500A electric engine program maintains its timeline for FAA type certification during the first half of 2026.
Capital spending for 2025 totaled $45.4M, declining from $73.5M in the prior year.
