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BETA Technologies, Inc. (NYSE: BETA) reported first-quarter 2026 financial and operating results for the quarter ended March 31, 2026. The electric aerospace company said it made progress toward entering eVTOL Integrated Pilot Program (eIPP) operations, including selections across U.S. launch programs and continued expansion of its charging network.
“Since the beginning of the year, BETA has made critical progress in support of our stepwise approach to electrify aviation, demonstrating our leadership position in the advanced air mobility sector as we prepare to enter eIPP operations,” said Kyle Clark, President and CEO.
BETA reported Q1 revenue of $10.1 million, compared with $9.6 million in the first quarter of 2025. For the quarter ended March 31, 2026, product revenues were $0.9 million and service revenues were $9.2 million.
The company said non-cash warrant expense related to its collaborative arrangement with GE Aerospace of $5.6 million was embedded in research and development expenses for the quarter.
BETA reported capital expenditures of $24.2 million for the quarter ended March 31, 2026, compared with $6.7 million for the same period in 2025. Cash and cash equivalents totaled $1,589.4 million as of March 31, 2026, compared with $236.6 million as of March 31, 2025, which the company attributed to successful private financings and proceeds from its IPO.
BETA said it added more than $375 million to its backlog during the quarter, including a new partnership with Surf Air Mobility. The company reported total commercial aircraft backlog of $3.9 billion across 991 aircraft.
BETA reaffirms its full-year 2026 revenue outlook of $39 million to $43 million and updated its full-year 2026 Adjusted EBITDA guidance to ($355) million to ($445) million.
The company said it has not reconciled its forward-looking Adjusted EBITDA guidance because certain items affecting the non-GAAP metric are uncertain or out of its control and cannot be reasonably predicted, including stock-based compensation expense impacted by the future fair market value of its Class A common stock, future hiring needs, and other factors.
BETA said it will host a live webcast and conference call at 8:30 a.m. ET to discuss the quarter’s financial and operating results. A replay webcast will be available following the call.
BETA provided excerpts from its condensed consolidated statements of operations and balance sheets.
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