FLYING Magazine
Beta Technologies has not certified any of the electric aircraft it is developing at its facilities in Vermont. Yet the manufacturer expects to generate up to $50 million in revenue in fiscal year 2026.
Beta on Wednesday announced its operating results for the second quarter of 2026, the highlight being a record $14.7 million in revenue. That was above the company’s quarterly guidance of $8 million-$11 million and more than double the $6 million in revenue it recorded in Q2 2025.
Competitor Archer Aviation, which like Beta is developing eVTOL (electric vertical takeoff and landing) aircraft, reported $5 million in revenue this past quarter after not recording any a year ago.
Rival Joby Aviation posted revenue of about $39 million in Q2 compared to just $15,000 the year before, with the vast majority of it coming from the Blade Air Mobility business it acquired in 2025. It raised full-year revenue guidance to $115 million-$125 million. However, Blade does not yet operate the eVTOL aircraft that Joby is building.
Herman Cueto, Beta’s chief financial officer, said on the company’s Q2 earnings call this week that Beta’s revenue overperformance stemmed not from an existing business but the sales of components that will power its own aircraft.
Beta said its proprietary chargers—designed to accommodate any electric vehicle, air or ground—are installed and on line at 138 sites. It even sells charging systems to competitors such as Archer, with which it recently established a partnership to electrify 250 sites by 2030.
“The consortium operators at this point are Archer and Beta, but we expect that to grow as Beta has the only certified [Combined Charging Standard] charger suitable for electric aviation,” said Cueto.
Beta CEO Kyle Clark said on the call that a 34-charger contract with the Florida Department of Transportation (FDOT) contributed to revenue after deliveries began in Q2.
Beta’s charging offerings are widely known. The company also sells its H500A electric pusher motor to Eve Air Mobility, the eVTOL unit of Embraer, and undersea vehicle propulsion systems to General Dynamics. More recently, it began selling flight control computers to Horizon Aircraft for the Canadian company’s X7 eVTOL. Clark said Horizon is the “third major aircraft program” to purchase Beta’s flight control computers.
“We typically look at the component business to carry somewhere between a 40 percent and 60 percent margin,” said Cueto. “But when you get into flight control computers, the margin is actually a lot higher.”
Clark added that Beta has “sold motors, propellers, inverters, high-voltage systems, flight control computers, the actual flight controls like the inceptors, the throttles, and other such things,” as well as data acquisition systems and flight test services.
“The strategy behind this is that these are extremely sticky sales,” Clark said. “When somebody designs their control laws around a hardware platform or vice versa, then those things are kind of linked.”
Joby, by contrast, only plans to sell completed aircraft. Archer in 2025 made its electric powertrain available to partner Anduril for the latter’s Omen platform, but it has not announced any additional sales.
Clark laid out Beta’s philosophy: “Certify and produce aircraft designed around simplicity, develop the core propulsion technologies, aircraft systems, and components in-house, and carry those technologies across commercial and defense applications.”
Cueto added that additional revenue in Q2 came from Beta’s partnership with GE Aerospace on NASA’s Electrified Powertrain Flight Demonstration (EPFD) project, which in July flew above 30,000 feet on hybrid-electric power. GE has invested $300 million in Beta and partnered to develop a hybrid-electric turbogenerator that will power the manufacturer’s military variant, the MV250.
Looking Ahead
Beta expects revenue to continue increasing. The company raised its full-year revenue guidance to the range of $42 million-$50 million, with Q3 revenue expected to land between $8 million and $12 million.
“The improved outlook reflects execution across our commercial, government, and technology initiatives,” said Cueto.
Beta in July conducted the first operations under the FAA’s eVTOL Integration Pilot Program (eIPP), delivering organs in Maryland and Virginia. Beta is part of seven of the eight projects chosen for the three-year, 26-state effort, during which the FAA will collect data on activities with precertified aircraft.
“You’ll start to see more of the eIPP flying over…the next four to six weeks,” Cueto said, in Texas and Louisiana, with partners including Metro Aviation, Bristow Group, and Future Flight Global.
Beta sees more revenue streams from the defense-oriented MV250 it unveiled at the Farnborough International Airshow, and which flew alongside existing military aircraft during a recent exercise. Clark confirmed that Beta accelerated the MV250’s launch timeline by six months due to “strong demand signals.”
“We showed up there, expecting to kind of generate a little bit of further interest domestically,” said Clark. “That went to the very highest levels of the U.S. military, and there is an incredibly keen interest in moving forward.”
Clark explained that the MV250 is “developed on the same core technologies already flying in our CTOL [conventional takeoff and landing] and VTOL aircraft, including batteries, motors, and flight control computers.” He was optimistic about the certification timeline for those two aircraft, which are expected to arrive before the military variant.
“We have successfully worked through key policy interpretation issues of the FAA to enable solid progress in the certification of our H500A motor,” Clark said. “On [the CTOL] CX300, we reached a significant milestone that gives us a complete and agreed-upon foundation for the next phase of the certification program.”
He added that “FAA pilots and delegates are flying our aircraft regularly.” Clark said Beta’s aircraft have flown 190,000 nm and that the company is targeting 250,000 nm by year’s end.
Beta’s Q2 ’26 operating expenses of $166 million, compared to about $84 million the year before, included $122 million in research and development costs. Cueto said these supported certification, MV250 development, eIPP operations, and production readiness. The company’s adjusted EBITDA of minus-$110 million fell at the midpoint of previous guidance.
Beta said it ended the quarter with approximately $1.5 billion in cash and cash equivalents. It ended 2025 with about $1.7 billion in cash on hand following its initial public offering last year.