Strong Revenue Growth
Full year 2025 revenue of $35.6 million vs $15.1 million in 2024, more than double year-over-year (+~136%), driven by stronger-than-expected component and merchant-sales to partners such as Embraer Eve, GE and General Dynamics.
Robust Cash Position
Ended 2025 with approximately $1.7 billion in cash, providing substantial runway to support certification, commercialization and planned CapEx investments.
Major Backlog and Commercial Momentum
Added over $1 billion to commercial aircraft backlog and an additional $1 billion to enabling technologies backlog during 2025; current aircraft backlog at 891 firm and option orders backed by financial commitment and company expects commercial aircraft backlog to top $4 billion.
Certification and Technology Milestones
Multiple certification advances: Part 35 propeller certification (with Hartzell), closed G1 certification basis for A250 VTOL, began '4 credit' testing on Part 33 motor; H500A propulsion progress—11 propulsion systems built (including spares), 1,000-hour durability test completed, endurance testing underway, and requirements-based software testing ~85% complete (projected finish end-April).
Operational Experience and Records
Topped 125,000 nautical miles flown in 2025 (goal 250k for 2026); aircraft flown across Europe, Paris Air Show and Oshkosh; set multiple world records, won the Pulitzer Air race, and operated the first all-electric passenger flight in/out of JFK—demonstrating operational maturity in varied airspace and weather.
Strategic Partnerships and Defense Wins
Launched strategic partnership and JTD program with GE; completed Phase 1 contract with General Dynamics and deliverables to Army DEVCOM; delivered a full shipset plus spares of lift and pusher electric engines to Eve, evolving into an order worth up to $1 billion; engaged with three defense primes and accelerated MV250 program by six months.
Charge Network Leadership
Owns and operates the only UL-certified aircraft charging network in the industry; activated 2 new charge sites and submitted permit applications for additional sites—company target is 150 charge sites by 2026 and eIPP applications touch 41 states.
Production and Manufacturing Readiness
Focused on producing conforming articles in H1 and ramping to 4.5 aircraft/month by year-end 2026; manufacturing facility and common lines designed to build up to 300 aircraft/year; CapEx investments and vertical integration accelerated to bring key manufacturing capabilities in-house.