Beta Technologies have announced their first quarter results which revealed a net loss of USD122.3 million which when expressed as adjusted earnings before tax , interest, depreciation and amortisation (Adj EBITDA) reduced to USD97.2 million. This compares with a loss of USD64.7m in the same period last year.
In the company’s earnings statement President & CEO Kyle Clark highlighted the wave of activity Beta has carried out in the quarter as it completed a series of demonstration flights with the CTOL variant of the Alia and gears up for the eIPP programme in the United States with the VTOL version.
“We’ve created a complete system to bring electric aviation to market including training pilots, building aircraft and designing support systems. This strategy has led the best operators in the world to choose BETA as their partner and translates into tangible progress. In Q1, we led the industry with selections in seven of the eight eIPP launch programs; we added 16 sites to our nationwide charging network, and we secured additional contracts in our undersea propulsion work with General Dynamics. In parallel, for defense applications, we completed a preliminary design review on the hybrid turbogenerator with GE Aerospace that will initially support our MV250 VTOL. With more than 139,000 nautical miles flown to date all over the world, we are entering eIPP operations with hard-earned experience and momentum. We remain keenly focused on achieving type certifications and scaling production as we prepare to meet the tremendous demand, and ultimately change the way people fly.”
Looking ahead Beta confirmed its year end 2025 expectations for this year with revenues of between USD39m to USD43m resulting in an Adj EBITDA loss of between USD355m and USD445m. At the end of Q1 the company had a cash, cash equivalents and short term investment reserve totalling USD1.589 billon.
Image: Beta Technologies
