Beta Technologies just delivered its first earnings report as a public company, and the numbers tell a compelling story about the electric aviation market's momentum. The Amazon-backed eVTOL maker posted revenue of $8.9 million for Q3 - a 187% jump from last year's $3.1 million - while securing a potential $1 billion supply deal that signals serious commercial traction in the emerging air mobility sector.
Beta Technologies is making its case as the eVTOL sector's most commercially ready player. The Vermont-based electric aircraft maker posted its first quarterly results Thursday since debuting on the New York Stock Exchange last month, delivering revenue growth that outpaced most analysts' expectations.
The company's $8.9 million in Q3 revenue represents a 187% surge from the prior year's $3.1 million, driven largely by its expanding military and cargo operations. But it's the forward-looking deals that have investors buzzing - particularly a supply agreement with Eve Air Mobility announced earlier this week that could generate up to $1 billion over the next decade.
"We have flown more than twice as many miles than anybody else in this industry," CEO Kyle Clark told CNBC during the earnings call. "That real-world flying gives us the ability to go into these eIPP opportunities with a mature type of certification product with a ton of reliability."
The numbers reveal both the promise and growing pains of the electric aviation market. While revenue more than doubled, Beta's net loss ballooned to $452 million - though $370 million of that stemmed from convertible preferred stock issuance related to the IPO process. Strip out those accounting charges, and the underlying business metrics paint a different picture.
Beta's competitive advantage lies in its integrated approach. Unlike rivals Joby Aviation and Archer Aviation, which focus primarily on passenger air taxis, Beta is building the entire ecosystem - from aircraft to charging infrastructure to maintenance systems. That strategy paid off this quarter when GE Aerospace agreed to invest $300 million and co-develop hybrid electric turbogenerators for both defense and civilian applications.
The Trump administration's eVTOL Integration Pilot Program, launched in September, represents Beta's next major catalyst. Clark called the program a "massive testament" to accelerating the nascent industry, and Beta is applying with state partners including North Carolina, Michigan, and Ohio to host commercial operations as soon as next June.
