Successful IPO and Strong Investor Support
BETA Technologies completed a successful IPO, raising approximately $1.1 billion in net proceeds. The company received strong support from investors including GE Aerospace, Fidelity, and Amazon.
Significant Backlog and Orders
Deposit-backed commercial aircraft backlog is $3.5 billion with a component backlog of $1 billion, mostly due to a major deal with Embraer Eve Air Mobility. Total backlog is approximately 4x higher than the base aircraft sales.
Revenue Growth
Reported Q3 revenue of $8.9 million, a significant increase from the previous year, driven by early commercialization of propulsion technology and strong growth in engineering services.
Expanding Charging Network
BETA is expanding its charging network internationally, including winning a contract to electrify Abu Dhabi airports and installing the first aircraft chargers in the UAE.
Certification Progress
Successfully beginning for-credit testing with the FAA on an electric engine certification project and progressing on certification milestones for various aircraft models.