BETA Technologies (BETA) investor relations material

Executive summary

• Q3’26 revenue reached a record $17.672M, up 98% YoY; FY’26 revenue guidance rose to $52M–$57M while Adjusted EBITDA loss guidance was maintained at $400M–$445M

• Milestones included FAA market-survey authorization for the A250, more than 250,000 nautical miles flown, 168 charging sites, and commercial aircraft backlog above $4.0B

Financial highlights

• Q3’26 revenue was $17.672M vs. $8.918M in Q3’25; product revenue was $5.184M and service revenue was $12.488M

• Q3’26 gross margin was $12.739M vs. $6.177M; operating expenses were $140.543M, including $90.536M of R&D and $50M of G&A

• Q3’26 operating loss was $127.804M vs. $80.574M; net loss was $119.119M vs. $437.214M, reflecting a prior-year preferred-stock issuance loss

• Q3’26 Adjusted EBITDA loss was $97.449M vs. $67.575M; 9M’26 revenue was $42.463M and Adjusted EBITDA loss was $304.505M

• Q3’26 capital expenditures were $28.781M vs. $12.957M; quarter-end cash and cash equivalents were $1,343.1M

Outlook and guidance

• FY’26 revenue guidance increased from $42M–$50M to $52M–$57M, implying Q4 revenue of $9M–$14M

• FY’26 Adjusted EBITDA loss guidance remained $400M–$445M; capital expenditure guidance remained $150M–$200M

• 2027 guidance is planned for the Q4 call; R&D is expected to increase YoY, including investment in MV250 and eIPP-related work

• Year-end targets included 250,000 nautical miles flown and a 4.5-aircraft-per-month production rate; current figures shown were 255,000 miles and 0.5 aircraft per month

• Remaining performance obligations were $28.889M at September 30, with $16.483M expected to be recognized as revenue over the next 12 months