BETA Technologies, Inc. Class A (BETA)
NYSE:BETA
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BETA Technologies, Inc. Class A
(NYSE:BETA)
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Rating:43Neutral
Price Target:
$16.50
▼(-8.59% Downside)
Action:ReiteratedDate:04/01/26
The score is held down primarily by severe losses and persistent cash burn (large net loss and deeply negative operating/free cash flow), alongside bearish technicals (below key moving averages with negative MACD). Earnings call positives (cash runway, backlog/partnership momentum) partially offset the risk, but guidance still indicates significant ongoing losses and elevated near-term cash use.
Positive Factors
Large commercial backlog
An 891-aircraft backlog and >$1B of new commercial orders provide multi-year demand visibility that supports a production ramp. Firm orders backed by financial commitment reduce market-risk, enable upfront supplier planning and justify sustained CapEx to scale manufacturing capacity.
Negative Factors
Sustained negative cash flow
Consistently large negative operating and free cash flows indicate the business relies on external funding to sustain operations and growth. Persistent cash burn increases dilution risk, constrains optionality for strategic investments, and makes execution sensitive to capital markets and financing terms.
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Positive Factors
Negative Factors
Large commercial backlog
An 891-aircraft backlog and >$1B of new commercial orders provide multi-year demand visibility that supports a production ramp. Firm orders backed by financial commitment reduce market-risk, enable upfront supplier planning and justify sustained CapEx to scale manufacturing capacity.
Read all positive factors
BETA Technologies, Inc. Class A (BETA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.90B
Dividend YieldN/A
Average Volume (3M)1.84M
Price to Earnings (P/E)―
Beta (1Y)2.89
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees828
SectorIndustrials
Sector Strength72
IndustryAerospace & Defense
Share Statistics
EPS (TTM)-2.02
Shares Outstanding221,249,270
10 Day Avg. Volume1,355,839
30 Day Avg. Volume1,836,524
Financial Highlights & Ratios
PEG Ratio-0.04
Price to Book (P/B)3.56
Price to Sales (P/S)181.56
P/FCF Ratio-20.64
Enterprise Value/Market Cap0.55
Enterprise Value/Revenue107.38
Enterprise Value/Gross Profit210.60
Enterprise Value/Ebitda-3.87
Forecast
1Y Price Target
$33.00Price Target Upside82.83% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)-2.2
Revenue Forecast (FY)$41.22M
BETA Technologies, Inc. Class A Business Overview & Revenue Model
Company Description
BETA Technologies, Inc. designs, develops, and manufactures electric aircraft platform and propulsion systems for the aviation industry in the United States. The company's products include electric aircraft, advanced electric propulsion systems, c...
How the Company Makes Money
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BETA Technologies, Inc. Class A Earnings Call Summary
Earnings Call Date:Mar 09, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 12, 2026
Earnings Call Sentiment Positive
The call highlighted substantial operational progress: accelerated certification milestones (propulsion and airframe work), strong commercial engagement and backlog growth, important partnerships (GE, General Dynamics, Embraer Eve), a leading charge-network position and a robust cash balance ($1.7B). These positives are tempered by continued heavy losses, significant R&D and operating expense run-rate, accelerated CapEx in 2026 and meaningful near-term cash burn (estimated ~$500M ex-eIPP). On balance, the company demonstrated meaningful de‑risking of technology and go‑to‑market elements while still being in an investment-intensive phase where profitability is distant, but the balance sheet and backlog provide runway to execute.Positive Updates
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.
Negative Updates
Large Operating Losses and Negative Adjusted EBITDA
Adjusted EBITDA for 2025 was negative $304 million (worse than 2024's negative $243 million by ~$61 million, a ~25% increase in negative EBITDA magnitude). 2026 adjusted EBITDA guidance is a wide negative range of $305 million to $395 million, reflecting continued heavy losses as certification and commercialization progress.
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Q4-2025 Updates
Positive
Negative
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.
Read all positive updates
Company Guidance
BETA’s 2026 guidance calls for revenues of $39–$43 million and adjusted EBITDA of negative $305–$395 million, with total CapEx of $175–$225 million (a pull‑forward of prior plans); they expect Q1 revenue of $7–$10 million and Q1 adjusted EBITDA of negative $95–$110 million. Operational targets for 2026 include reaching 150 charge sites, accumulating 0.25 million nautical miles flown, building conforming articles in H1 and ramping production to 4.5 aircraft per month by year‑end, and growing the commercial aircraft backlog (currently 891 aircraft) to over $4 billion by year‑end. Ending 2025 cash was about $1.7 billion; full‑year 2025 revenue was $35.6 million (vs. $15.1M in 2024), operating expenses were $398M (R&D $260M, G&A $138M), adjusted EBITDA was negative $304M, and CapEx was $45.4M. The company cautioned that current guidance excludes any eIPP awards (which, if received, could require an additional ~$75–$125 million of investment and would prompt a guidance update) and that projected cash use for 2026 (excluding eIPP) is roughly $500 million.BETA Technologies, Inc. Class A Financial Statement Overview
Summary
Income Statement
14
Very Negative
Balance Sheet
58
Neutral
Cash Flow
18
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 |
|---|---|---|---|
Income Statement | |||
| Total Revenue | 35.62M | 15.09M | 15.36M |
| Gross Profit | 3.69M | -5.89M | 4.71M |
| EBITDA | -350.64M | -247.24M | -165.56M |
| Net Income | -745.87M | -275.64M | -175.56M |
Balance Sheet | |||
| Total Assets | 2.13B | 666.37M | 579.25M |
| Cash, Cash Equivalents and Short-Term Investments | 1.71B | 301.55M | 253.69M |
| Total Debt | 203.90M | 170.55M | 155.28M |
| Total Liabilities | 309.85M | 230.43M | 193.81M |
| Stockholders Equity | 1.82B | 435.94M | 385.44M |
Cash Flow | |||
| Free Cash Flow | -313.25M | -296.17M | -311.25M |
| Operating Cash Flow | -267.80M | -222.66M | -158.01M |
| Investing Cash Flow | -44.08M | -68.81M | -152.33M |
| Financing Cash Flow | 1.73B | 339.33M | 134.33M |
BETA Technologies, Inc. Class A Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
50 Neutral | $9.85B | -21.68 | -6.41% | ― | 79.89% | -171.81% | |
47 Neutral | $292.66M | 1.54 | -174.08% | ― | ― | ― | |
47 Neutral | $1.03B | -5.44 | -225.72% | ― | ― | -33.69% | |
47 Neutral | $4.55B | -7.59 | -37.76% | ― | ― | 11.14% | |
43 Neutral | $3.90B | -8.67 | -73.52% | ― | ― | ― | |
43 Neutral | $805.34M | -15.01 | -22.42% | ― | 23.58% | 20.74% |
* Industrials Sector Average
BETA
BETA Technologies, Inc. Class A
16.60
-19.40
-53.89%
AVAV
AeroVironment
210.07
59.89
39.88%
EH
Ehang Holdings
10.78
-4.73
-30.50%
EVTL
Vertical Aerospace
2.66
-0.67
-20.12%
EVEX
Eve Holding
2.94
-0.73
-19.89%
ACHR
Archer Aviation
5.94
-1.40
-19.07%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.