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    BETA
    Earnings call· Jun 2026(Q2 FY26)

    BETA Technologies Q2 FY26 earnings call BETA

    Aug 12, 2026 Source

    Executive summary

    BETA Technologies Q2 FY26 — Strong Backlog Growth and Certification Progress

    BETA Technologies delivered a strong quarter, marked by significant progress in aircraft and motor certification, robust backlog growth, and the successful launch of eIPP operations. The company continues to leverage its core technologies across commercial and defense applications, expanding strategic partnerships and component sales. This consistent execution and disciplined capital deployment are driving revenue and positioning BETA for accelerated growth in the electric aviation market.

    Highlights

    5

    • Revenue reached $14.7 million, exceeding guidance of $8 million to $11 million, representing 146% year-over-year growth.

    • Aircraft backlog grew to 1,001 aircraft and $3.9 billion, nearing the year-end target of $4 billion.

    • Successful launch of eIPP operations with United Therapeutics, transporting organs, pulling forward commercialization by over a year.

    • Significant certification progress on the H500A motor, with policy interpretation issues resolved and durability tests completed.

    • Achieved 100% acceptance of the Detailed Design Standards collector for the CX300 aircraft, establishing a clear path for certification.

    Guidance & targets

    7
    CategoryTargetConfidence
    Full-year revenue
    $42 million to $50 million
    high materiality
    High
    Full-year adjusted EBITDA
    negative $400 million to negative $445 million
    high materiality
    High
    Full-year capital expenditures
    approximately $150 million to $200 million
    medium materiality
    High
    Q3 revenue
    $8 million to $12 million
    medium materiality
    High
    Q3 adjusted EBITDA
    negative $115 million to negative $125 million
    medium materiality
    High
    Year-end aircraft backlog
    $4 billion
    high materiality
    High
    Year-end total nautical miles flown
    250,000 total nautical miles
    low materiality
    High

    Operational metrics

    11
    Revenue
    $14.7 million146% YoY growth
    Q2 FY26

    Above guidance range of $8 million to $11 million.

    Research & Development (R&D) expenses
    $122 million
    Q2 FY26

    Reflects continued investment in certification, MV250, eIPP operations, and production readiness.

    General & Administrative (G&A) expenses
    $44 million
    Q2 FY26
    Adjusted EBITDA
    negative $110 million
    Q2 FY26

    Midpoint of guided range of negative $100 million to negative $120 million.

    Cash and cash equivalents
    $1.5 billion
    End of Q2 FY26
    Component sales margin
    40-60%
    Ongoing

    Typical range for component business.

    Nautical miles flown
    Over 190,000
    To date

    Contributes to safety record and operational data.

    Charging sites
    138
    Current

    Network that BETA already owns and operates.

    Electricity cost for Aurora mission
    $300
    Aurora 2026 exercise

    Demonstrates low operating cost of electric aviation.

    Aircraft backlog mix
    ~50-50
    Current
    EXIM Bank net financing
    Up to $1 billion
    Future

    Expands relationship, intended to finance capital assets and extend financial runway.

    Industry KPIs

    1
    MetricValueDetails
    Total company backlog$3.9 billionUSD

    Orderbook & backlog

    1
    Total aircraft backlog$3.9 billionQ2 FY26

    Represents 1,001 aircraft.

    Product announcements

    4
    ProductTypeDetails
    MV250launch
    Electrified Powertrain Flight Demonstration Aircraft (EPFD)milestone
    H500A motormilestone
    CX300 aircraftmilestone

    Deals & partnerships

    7
    LoganairOrder for aircraft

    Order placed at Farnborough after successful demonstration flights across Scotland with Loganair and Royal Mail. Aircraft positioned for low-cost, zero-emission access to islands and highlands of Scotland.

    GE AerospaceExpanded partnership for hybrid propulsion and turbo generator development

    Jointly announced successful test flights of the Electrified Powertrain Flight Demonstration Aircraft (EPFD). Advanced joint work on the hybrid turbo generator, which is used in the MV250. Partnership began with a joint technology development agreement and now includes multiple active programs.

    Archer and Macquarie CapitalAmerica's Consortium for Electric Skyways (ACES) to build charging sites

    Macquarie brings infrastructure and finance expertise, BETA supplies hardware, and Archer identifies strategic locations. Aims to build up to 250 charging sites across California, Texas, Florida, and New York, accelerating network growth and providing necessary capital.

    Horizon AircraftSale of flight control computers and software licensing

    Sale for Horizon's X7 aircraft. This is the third major aircraft program flying on BETA's flight control computers, which were developed in-house to power lift aircraft standards.

    United TherapeuticsFirst operator to launch eIPP operations

    Launched eIPP operations on July 12, flying two BETA aircraft in Maryland and Virginia to transport organs. United Therapeutics was BETA's first customer, with the relationship growing from an R&D contract to aircraft and charging orders.

    General DynamicsCollaboration on classified programs and critical hardware solutions

    Moved into Phase 2 on internal classified programs and entered Phase 1 of a new, separate program providing critical hardware solutions. Undersea applications are a growing area for BETA.

    Sikorsky MATRIXIntegration of autonomous capability suite

    Integrated into the MV250 for multi-mission applications and used as a test bed for autonomy in the CX300 aircraft.

    Capital programs

    1
    EXIM Bank financing for capital assetsannouncedUp to $1 billion
    Funding: EXIM Bank

    Benefit: Extends financial runway, provides flexibility for long-cycle industrial investments like CapEx (facilities, equipment, tooling).

    Expands existing relationship with EXIM Bank, which previously funded the South 40 facility. Supports acceleration of production engineering and technical investments.

    What to watch in Q3 FY26

    5

    Backlog growth

    Year-end FY26
    Current1,001 aircraft, $3.9 billion
    Target$4 billion

    Why it matters

    Reaching the year-end backlog target demonstrates continued commercial traction and demand for BETA's aircraft.

    Our backlog now stands at 1,001 aircraft and $3.9 billion. We have set $4 billion as our year-end target. We are essentially there now at the halfway point of the year.

    Q&A highlights

    8

    Given parallel progress, could H500A and CX300 certifications be closer than expected, or is CX300 dependent on H500A first?

    The H500A policy interpretation issues did not negatively affect the CX300 program, and concurrent certification is possible. The CX300's Detailed Design Standards collector resolves policy issues early, allowing for rapid progress, and test plans are already approved.

    “The H500A working through those policy interpretation issues has not affected the CX300 program. In fact, I mean, we can get right through TIA and through flight testing and if need be, the H500A could be concurrently certified.”

    asked by Kristine Liwag · answered by Kyle Clark

    2 min read5 chapters

    Detailed Narrative

    01

    Certification Milestones

    BETA achieved significant certification progress, particularly on the H500A motor, where policy interpretation issues with the FAA have been resolved, and durability and lightning tests were completed uneventfully. For the CX300 aircraft, the requirements definition phase is closed, with 100% acceptance of the Detailed Design Standards collector, a first in the AAM industry. This methodical, stepwise approach, leveraging commonality between CX300 and A250, reduces ambiguity and accelerates compliance efforts, with certification test activities already running in parallel.

    02

    MV250 Unveiling and Defense Strategy

    The company unveiled the MV250, a military variant of its civilian VTOL aircraft, at Farnborough. It combines hybrid propulsion and autonomous capabilities for contested logistics, capable of carrying a 2,000-pound payload over a 250 nautical mile tactical range at speeds above 170 knots, with a repositioning range of over 1,300 nautical miles. The MV250 leverages core technologies from BETA's existing aircraft, enabling faster and lower-cost development, and can serve as both a logistics platform and a power source for troops.

    03

    Strategic Partnerships & Component Sales

    BETA expanded its partnership with GE Aerospace, successfully flying the Electrified Powertrain Flight Demonstration Aircraft (EPFD) and advancing joint work on the hybrid turbo generator. A new consortium, ACES, was formed with Archer and Macquarie Capital to build up to 250 charging sites across key US states. The component sales business continues to grow, with the sale of flight control computers and software licensing to Horizon Aircraft, alongside existing sales of motors, batteries, and other high-reliability systems to various OEMs, demonstrating the value of BETA's in-house developed technologies.

    04

    eIPP Operations Launch

    The company successfully launched eIPP (electric aircraft Integrated Pilot Program) operations on July 12, with United Therapeutics becoming the first operator to transport organs using BETA's aircraft in Maryland and Virginia. This milestone, achieved months ahead of expectations, represents a significant pull forward📎 in commercialization. BETA's readiness was built on over 190,000 nautical miles flown, a strong safety record, and an established charging network, with further eIPP expansions expected in Louisiana and Texas with partners like Metro Aviation and Bristow.

    05

    Backlog Growth & Flight Miles

    BETA's aircraft backlog reached 1,001 aircraft, valued at $3.9 billion, nearly achieving the year-end target of $4 billion by mid-year. The Loganair order, following successful cargo routes in Scotland, exemplifies how real-world demonstrations translate into orders. The fleet has now flown over 190,000 nautical miles, contributing to the safety record, operational data, and customer confidence, with a year-end goal of 250,000 nautical miles, which the company is on pace to meet.

    AI-generated summary of the company’s earnings call. Not investment advice.