BETA reports $17.7 million of third-quarter revenue and a $119.1 million loss

BETA Technologies said on November 3, 2026 that revenue for the quarter ended September 30, 2026 was $17.7 million, which it calls a record and 98 percent higher than a year earlier. The same release's table lists revenue of $17,672 thousand, against $8,918 thousand in the quarter ended September 30, 2025. It says product revenue was $5.2 million and service revenue was $12.5 million. The table lists those lines as $5,184 thousand and $12,488 thousand. BETA says the revenue is entirely organic and that it exceeded the company's guidance range. It does not print the prior quarterly range. The SEC copy of the release matches these figures. Aviation International News reports the same $17.7 million record and says BETA's filing attributes the rise largely to ground equipment deliveries and engineering services.

BETA says the quarter's net loss was $119.1 million. The table lists $119,119 thousand. It also reports adjusted EBITDA of negative $97.4 million, listed as negative $97,449 thousand. BETA says adjusted EBITDA is a non-GAAP measure and is not a substitute for GAAP results. Cash and cash equivalents were $1,343,055 thousand, which the release rounds to $1,343.1 million, at September 30, 2026, compared with $687.6 million at September 30, 2025. BETA says that comparison reflects private financings and IPO proceeds. It does not state the IPO amount. AIN rounds the cash figure to $1.34 billion.

BETA says it is raising full-year 2026 revenue guidance to a range of $52 million to $57 million, and that it is maintaining full-year 2026 adjusted EBITDA guidance in a range of negative $400 million to negative $445 million. Those ranges are guidance. The earnings presentation dated November 3, 2026 shows the previous revenue guidance as $42 million to $50 million, and it says capital-expenditure guidance of $150 million to $200 million is unchanged. The presentation says that, unless otherwise specified, its figures are as of September 30, 2026.

Backlog is firm and option orders

BETA says the commercial aircraft backlog increased to just over $4.0 billion, which it says surpassed the company's year-end target, and that the backlog "represents 1,040 aircraft in firm and option orders supported by financial commitments." That is firm and option orders together. The release does not say how many of the 1,040 are firm. AIN reports 1,040 aircraft in firm orders and options worth more than $4 billion, and says passing $4 billion put BETA two months ahead of its 2026 year-end target. AIN reports that chief financial officer Herman Cueto said the orders have been split about 50-50 between the CX300 and the A250. "About 50-50" is AIN's account of that remark. It is not a published count of each model, and it is not a statement that every aircraft is a firm order.

The presentation's backlog box is headed "Aircraft backlog, firm & option orders." The figure labeled Current is $4B. The figure labeled End of Year 2026 is >$4B. The same day's release says the backlog is just over $4.0 billion and that this surpassed the year-end target. This page does not treat the slide's column labels and that sentence as one statement.

AIN reports that Kyle Clark said one of the orders that pushed the backlog past $4 billion came from a company moving cargo he did not name, and that BETA will announce the deal soon. The customer is not named. That is not a firm order this page can record.

AIN reports that Clark told investors on November 3 that recent CX300 sales have focused on aeromedical and cargo customers. It reports that he pegged the CX300's operating cost at about $450 an hour, against $800 to $850 for a turbine Cessna Caravan. Those cost figures are his. They are not an independent measurement.

Miles, chargers and eIPP launches

BETA says the fleet has flown more than 250,000 nautical miles, ahead of a year-end target. The presentation shows 255,000 as the current figure and 250,000 under End of Year 2026. AIN says BETA passed its goal of 250,000 nautical miles.

BETA says the charging network reached 168 sites. The presentation shows 168 as current and 150 under End of Year 2026, and it says 3 sites were activated in the third quarter, with 8,426 sessions completed in the quarter, 49 percent more than the third quarter of 2025. The slide does not define a session. AIN says 168 sites exceeded a goal of 150.

BETA says it has launched 6 of the 7 selections in the FAA's eVTOL Integration Pilot Program. It names missions moving medical supplies in North Carolina, emergency response equipment in Texas and time-sensitive cancer medicines in Utah. The seventh selection is not described as launched. AIN says BETA has begun flying in six of its seven eIPP projects. The release's word is "launched." AIN's word is "begun flying."

Scorecards are not a type certificate

No type certificate is reported as issued for the A250 or the CX300. The A250 market survey certificate announced on October 21, 2026 is a special airworthiness certificate. It is not a type certificate. The November 3 release describes that document as a special airworthiness certificate for market surveys, ahead of type certification. "Ahead of" is not an issued type certificate.

BETA's presentation shows four certification phases for three programs. AIN describes phase 3, compliance planning, as the phase in which the FAA accepts test plans, and phase 4, implementation, as the phase in which BETA runs those tests and the FAA accepts the results. The percentages below are the ones printed on the slides. They are BETA's presentation, which AIN also reports. They are not a certificate.

For the H500A, the slide titled "H500A Engine Certification" shows phase 1, conceptual design, at 100 percent; phase 2, requirements definition, at 100 percent; phase 3, compliance planning, at 98 percent; and phase 4, implementation, at 45 percent. AIN reports 98 percent and 45 percent for that motor. Certification of the H500A is not shown as complete. AIN says FAA certification of the H500A is still in progress.

For the CX300, the slide shows phase 1 at 100 percent; phase 2 with certification basis at 100 percent and means of compliance at 100 percent; phase 3 at 89 percent; and phase 4 at 5 percent. A 3 percent figure is also printed beside a 2Q26 label on the implementation row. This page treats 5 percent as the current implementation figure on that slide, and it does not treat 3 percent as the current rate. AIN reports 89 percent and 5 percent for the CX300.

For the A250, the slide shows phase 1 at 100 percent; phase 2 with certification basis at 100 percent and means of compliance at 32 percent; phase 3 at 6 percent; and phase 4 at 0 percent. AIN's pair for the A250 is 6 percent and 0 percent, which matches phase 3 and phase 4. The 32 percent means-of-compliance figure is on the same slide and is not part of that pair. Phase 4 at 0 percent is not a certificate.

AIN reports that last month BETA applied for an amended type certificate for the H500B variant that will power the A250. AIN does not give the day. An application is not an issued type certificate. It is not a type certificate for the aircraft. This page did not open the filing.

AIN reports that Clark predicted the A250 will be the first eVTOL to receive an FAA type certificate, and that he gave no date. It quotes him: "I do firmly believe we will be the first to certify in the VTOL industry." It also reports that he said he cannot say with certainty that BETA will be first, and that he declined to forecast a date for the FAA. That is a prediction. It is not a target date, and it is not an issued certificate. AIN reports a separate remark he made at NBAA-BACE, that "the VTOL is always about a year behind each of the steps of the CTOL." That remark is not a certification date.

The 4.5-a-month figure is not an achieved aircraft rate

The presentation's rate box is headed "Max demonstrated rate" and "Aircraft built per month." The figure labeled Current is 0.5 per month. The figure labeled End of Year 2026 is 4.5 per month. AIN says a demonstrated production rate of 4.5 aircraft a month is still a 2026 goal, in progress, and that the presentation cited a maximum demonstrated production rate of 0.5 aircraft a month against that year-end target. This page does not call 4.5 a rate BETA has achieved for finished aircraft.

This page did not open an earnings-call transcript. AIN reports that on the call Clark said component lines for flight control computers, battery packs, wire harnesses and inverters have demonstrated capacity for 4.5 aircraft a month, and that BETA is extending those demonstrations to major airframe structures. AIN reports that he expects the manufacturing infrastructure to be in place by year-end, with further rate demonstrations continuing into early 2027, that BETA is not yet staffing for sustained production at that rate, and that building conforming flight-test aircraft for certification remains the top manufacturing priority. An expectation for year-end is not a rate already demonstrated for complete aircraft. A conforming flight-test aircraft is not a type certificate.

The photograph

The photograph is a CX300, registration N401NZ, at Auckland Airport in December 2025. It is not the A250. It is not a picture from the November 3 presentation. The presentation's own aircraft images are not used here.

What is not established

No type certificate has been issued for the A250, the CX300, the H500A or the H500B. The H500B item is an application AIN says was made the previous month, with no day and no filing opened here. The A250 market survey certificate remains a special airworthiness certificate. The 1,040 aircraft are firm and option orders counted together. The about-50-50 mix is AIN's account of the CFO, not a model-by-model count. The backlog slide labels Current as $4B and End of Year 2026 as >$4B, while the release says just over $4.0 billion has surpassed the year-end target. The unnamed cargo order is not identified. The 4.5-aircraft-a-month figure is an end-of-2026 column on the slide and, per AIN, a goal still in progress. The current figure on that slide is 0.5 aircraft a month. Clark's component-line remark is AIN's account of the call. Full-year revenue and adjusted EBITDA ranges are guidance. Clark's statement that the A250 will be first to an FAA type certificate is a prediction, and he gave no date.

Sources

Facts as reported by the linked sources as of Nov 11, 2026. Company targets are plans, not guarantees. Corrections: see About.