Beta revenue jumps 98% to $17.672 million in third quarter
Key Facts
Beta Technologies reported record revenue of $17.672 million on Nov. 3 for the third quarter ended Sept. 30, 2026, up 98% from the year-earlier period and above its quarterly guidance range. The company said revenue was entirely organic, indicating that growth came from its operating business. Net loss was $119.119 million, compared with $437.214 million a year earlier. But the adjusted loss before interest, taxes, depreciation and amortization widened to $97.449 million from $67.575 million. Chief Executive Kyle Clark called it the “strongest revenue quarter since inception,” adding that the company was exceeding the targets it set at the start of 2026.
Third-quarter revenue comprised $12.5 million from services and $5.2 million from products, the company said. Total revenue was $8.918 million in the third quarter of 2025, illustrating the scale of the year-over-year increase. On a quarterly basis, revenue was $14.7 million in the second quarter of 2026, while net loss then was $148.8 million. Net loss therefore declined from the previous quarter, despite the adjusted loss before interest, taxes, depreciation and amortization continuing to widen year over year. Zacks said adjusted loss per share was $0.51, below its consensus estimate of a $0.54 loss, and revenue exceeded its estimates by 76.72%.
Operating expenses totaled $140.5 million, including $90.5 million for research and development, according to the company’s statement. Research and development expenses included $5.8 million in non-cash warrant expenses related to the collaboration agreement with GE Aerospace. Capital expenditures rose to $28.8 million from $13.0 million in the third quarter of 2025. These items show the spending accompanying the expansion of the business, as revenue increased but the adjusted loss before interest, taxes, depreciation and amortization exceeded the loss in the year-earlier period. The company maintained its estimate for a 2026 loss on this adjusted measure of $400–445 million.
Beta raised its 2026 revenue outlook to $52–57 million from a previous range of $42–50 million, and kept its adjusted loss before interest, taxes, depreciation and amortization forecast at $400–445 million. Cash and cash equivalents totaled $1,343.1 million on Sept. 30, compared with $687.6 million on the same date a year earlier. The company attributed the increase to private financings and proceeds from its initial public offering. This balance gives the company a larger liquidity base to continue spending, while its outlook points to continued heavy operating losses during the year. The higher revenue forecast does not eliminate the spending reflected in research and development expenses and capital expenditures during the quarter.
The company said its commercial aircraft order book exceeded $4.0 billion, surpassing its year-end target, and covered 1,040 aircraft in firm orders and options backed by financial commitments. It also said its fleet had logged more than 250,000 nautical miles and its cargo network had expanded to 168 locations. Beta added that it had launched operations in 6 of 7 selections under the Federal Aviation Administration’s program to integrate electric vertical takeoff and landing aircraft. The missions it cited included transporting medical supplies in North Carolina, emergency response equipment in Texas and cancer drugs in Utah. These indicators reflect an expansion in testing and operational use, alongside growth in orders backed by financial commitments.
Beta said its A250 became the first electric vertical takeoff and landing aircraft to receive a special airworthiness certificate from the Federal Aviation Administration for market surveys, allowing demonstration flights with customers before type certification. The aircraft made its first flight under the authorization on Oct. 20, covering 34 nautical miles in 20 minutes. In an earlier announcement, the company said it had completed 14 electric flights in Florida under the pilot program, covering nearly 700 nautical miles. Clark said previous flights had reached 9 per day, with energy costs of less than $17 per flight. The company is scheduled to hold a livestream and conference call to discuss its quarterly results on Nov. 3 at 8:30 a.m. Eastern time.