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Vertical Aerospace (EVTL) investor relations material
Vertical Aerospace Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary4 Nov, 2025
Executive summary
Piloted transition flight for the VX4 eVTOL aircraft marks a major milestone, with certification progressing under UK CAA and EASA oversight, positioning the platform ahead of most competitors.
Aircraft Three production and hybrid powertrain development are on track, with the third prototype to be completed in December 2025 and hybrid flight tests set for mid-2026.
VX4 features the largest, most flexible cabin in the industry, scalable from four to six passengers, offering sector-leading comfort and operator economics.
Over 1,500 pre-orders and a $6 billion+ orderbook from major airlines and customers across four continents, with expansion efforts underway.
Strategic partnership and investment initiatives are a top priority to support ramp-up from certification to commercialization.
Financial highlights
Q3 2025 spend was in line with expectations, with full-year guidance of $110 million–$125 million and cash position at $117 million as of early November 2025.
ATM facility contributed $7.2 million in Q3 and $16.4 million year-to-date.
Next 12 months spend estimated at $235 million, primarily for prototype testing and certification.
Total estimated investment to certification by 2028 is $1.1 billion, with $700 million additional funding required.
Capital efficiency and disciplined cost controls have resulted in spend and overhead 50–75% below main competitors.
Outlook and guidance
Confident in achieving certification in the second half of 2028, with a clear, front-loaded regulatory process and no plans to accelerate the timeline.
On track to meet 2025 net operating cash outflow guidance of $110–$125 million, with positive net operating cash flow exceeding $100 million targeted by 2030.
Targeting at least 175 aircraft produced by 2030, with an annual run-rate of over 225 aircraft by Q4 2030 and gross margin ramping to ~40% at scale.
Will provide a detailed quarterly certification roadmap from Q1 2026 to completion in the next year-end update.
Plans to reopen the order book selectively, focusing on high-value geographies and securing the first hybrid aircraft sale.
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Next Vertical Aerospace earnings date
Q4 202511 Mar, 2026
Next Vertical Aerospace earnings date
Q4 202511 Mar, 2026
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Frequently asked questions
Vertical Aerospace Ltd. is a British aerospace and technology company that focuses on the design, manufacturing, and sale of electric vertical take-off and landing (eVTOL) aircraft. The company is engaged in advancing sustainable urban air mobility through its flagship eVTOL aircraft, the VX4, which is intended to operate with zero emissions. This aircraft aims to offer a new mode of urban transport by reducing travel time and environmental impact, positioning itself as a part of the future of aviation. Vertical Aerospace Ltd. is headquartered in Bristol, United Kingdom, and its shares are listed on the NYSE.
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