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BETA Technologies (BETA) Q2 FY26 earnings call: guidance and Q&A

Earnings call· Jun 2026 (Q2 FY26)· Industrials· Aug 12, 2026

Source: earnings call transcript

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

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

BETA operating KPIs by quarter

BETA operating KPIs stated on its earnings calls, by fiscal quarter
KPI Dec 2025 Q4 FY25 Mar 2026 Q1 FY26This call Jun 2026 Q2 FY26Change vs prior quarter
Aircraft backlog
891 Our current aircraft backlog sits at 891 aircraft in firm and option orders backed by a financial commitment. Source: earnings call transcript
991 Since then, we've announced a significant order from Surf Air Mobility, which helped grow our total commercial aircraft backlog to $3.9 billion and 991 aircraft. Source: earnings call transcript
1,001 Our backlog now stands at 1,001 aircraft and $3.9 billion. Source: earnings call transcript
+1%
Charging sites —
123 We've added 16 charging sites since our last call, bringing our total to 123. Source: earnings call transcript
138 We now have 138 charging sites. Source: earnings call transcript
+12.2%

Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.

Orderbook & backlog

Total aircraft backlog $3.9 billion Q2 FY26

Represents 1,001 aircraft.

Product announcements

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

Deals & partnerships

Loganair Order 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 Aerospace Expanded 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 Capital America'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 Aircraft Sale 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 Therapeutics First 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 Dynamics Collaboration 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 MATRIX Integration 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

EXIM Bank financing for capital assets announced Up 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

Backlog growth

Year-end FY26
Current 1,001 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.

Find out whether BETA delivers this. Inve re-checks your case every morning.

Q&A highlights

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 read 5 chapters

Detailed narrative

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.

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.

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.

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.

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.

Summary of the company's earnings call; see how call summaries are prepared. Not investment advice.