Beta Technologies just made history as the first major electric aircraft company to go public, debuting on the NYSE at $34 per share and raising over $1 billion. The Amazon-backed startup's IPO represents a crucial test for the emerging eVTOL industry that's been fighting for FAA approval while promising to revolutionize urban air transport.
Beta Technologies just pulled off what no other electric aircraft company has managed - a billion-dollar public debut that's sending shockwaves through the aviation industry. The Vermont-based startup priced its IPO at $34 per share on Monday, well above the expected $27-33 range, before opening on the NYSE Tuesday morning.
The timing couldn't be more dramatic. While the stock opened 5% lower at around $32, Beta's successful raise immediately pressured competitors Joby Aviation and Archer Aviation, which dropped 9% and 6% respectively as investors suddenly had a new player to evaluate.
CEO Kyle Clark, who doubles as the company's test pilot, rang the opening bell knowing his company just became the bellwether for an entire industry. "We needed to demonstrate success in production and operations and a pipeline of back orders to offer fundamental business reasons to walk into the public markets," Clark told CNBC during Tuesday's trading debut.
The numbers tell a story of ambitious growth hitting financial reality. Beta's revenue more than doubled to $15.6 million in the first half of 2025, but losses also widened to $183.2 million from $137.1 million a year earlier. For a company founded in 2017, that burn rate reflects the massive capital requirements of certifying aircraft for commercial use.
Amazon and General Electric emerged as Beta's heavyweight backers, holding 10.2% and 6.3% stakes respectively before the IPO. Amazon's involvement traces back to 2021 when its Climate Pledge Fund invested as part of the company's push to reach net-zero carbon by 2040. GE Aerospace doubled down in September with a $300 million investment, signaling serious industrial commitment to electric aviation.
But Beta's path to profitability runs through the notoriously cautious FAA. Clark expects full commercial certification within 30 months, a timeline that will determine whether the company's current $1+ billion valuation proves justified. The aircraft are already conducting military missions, providing crucial operational data for the certification process.
