BETA on NYSE
BETA Technologies, Inc.
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Last updated Oct 16, 2026.
Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
72.2%Gross margin2
-1046.3%Operating margin2
-2094.2%Net margin2
136.0%Revenue growth, 20252
-41.0%Return on equity2
0.10×Debt to equity2
-$313.2MFree cash flow2
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Service brought in 65% of the revenue BETA Technologies, Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Service | $15.2M | $13.2M | $23.2M |
| Product | $206.0K | $1.9M | $12.4M |
Regions
United States brought in 95% of the revenue BETA Technologies, Inc. broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| United States | $15.4M | $15.1M | $33.9M |
| Outside the United States | $0 | $0 | $1.8M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue4¢$9.9M
- Research and development96¢$259.9M
- Income tax0¢$756.0K
Out of $35.6M in revenue.2 The company lost money this year.
Financial statements
Every line of the income statement in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenues | $35.6M | $15.1M | $15.4M |
| Cost of revenues | $9.9M | $4.5M | $2.0M |
| Gross margin | $25.7M | $10.6M | $13.3M |
| Total operating expenses | $398.4M | $282.8M | $199.9M |
| Loss from operations | -$372.7M | -$272.2M | -$186.6M |
| Interest income | -$20.1M | -$8.5M | -$12.4M |
| Loss on issuance of convertible preferred stock | $379.6M | $0 | $0 |
| Total other expense (income) | $372.4M | $2.9M | -$12.0M |
| Loss before income taxes | -$745.1M | -$275.1M | -$174.5M |
| Income tax expense | $756.0K | $514.0K | $1.0M |
| Net loss | -$745.9M | -$275.6M | -$175.6M |
| Preferred Stock PIK dividend | $217.4M | $30.7M | $26.4M |
| Net loss attributable to common stockholders, basic | -$963.2M | -$306.3M | -$201.9M |
| Net loss attributable to common stockholders, diluted | -$963.2M | -$306.3M | -$201.9M |
| Net loss per share attributable to common stockholders, basic (in dollars per share) | -$12.85 | -$6.77 | -$4.50 |
| Net loss per share attributable to common stockholders, diluted (in dollars per share) | -$12.85 | -$6.77 | -$4.50 |
| Foreign currency translation adjustments | $197.0K | -$194.0K | $37.0K |
| Comprehensive loss | -$745.7M | -$275.8M | -$175.5M |
| Research and development | $259.9M | $206.9M | $138.3M |
| General and administrative | $138.5M | $75.9M | $61.6M |
| Interest expense | $13.0M | $11.4M | $352.0K |
Every line of the balance sheet in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2025-10-31 | 2024-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $1.7B | $301.4M | |
| Total current assets | $1.7B | $327.3M | |
| Property and equipment, net | $348.5M | $319.6M | |
| Operating lease right-of-use assets | $16.4M | $16.4M | |
| Other non-current assets | $1.8M | $3.0M | |
| Total assets | $2.1B | $666.4M | |
| Accounts payable | $24.5M | $16.2M | |
| Accrued expenses | $35.1M | $24.5M | |
| Operating lease liabilities | $1.6M | $1.7M | |
| Notes payable | $5.7M | $2.8M | |
| Other current liabilities | $5.8M | $4.8M | |
| Total current liabilities | $76.4M | $56.6M | |
| Deferred revenue, non-current | $12.6M | $6.4M | |
| Operating lease liabilities, non-current | $16.8M | $16.7M | |
| Notes payable, non-current | $179.8M | $149.2M | |
| Other liabilities | $2.8M | $1.6M | |
| Total liabilities | $288.4M | $230.4M | |
| Treasury stock | $0 | -$5.9M | |
| Additional paid-in capital | $3.7B | $0 | |
| Accumulated deficit | -$1.9B | -$969.3M | |
| Accumulated other comprehensive loss | -$10.0K | -$207.0K | |
| Total stockholders equity and convertible preferred stock | $1.8B | $435.9M | |
| Total liabilities, stockholders equity and convertible preferred stock | $2.1B | $666.4M | |
| Accounts receivable | $5.7M | $2.2M | |
| Prepaid expenses and other current assets | $23.5M | $23.8M | |
| Deferred revenue | $3.7M | $6.4M | |
| Preferred stock, par value (in dollars per share) | $0.00 | ||
| Preferred stock, shares authorized (in shares) | 50.0M shares | 141.4M shares | 109.2M shares |
| Preferred stock, shares issued (in shares) | 0 shares | 133.4M shares | 99.6M shares |
| Preferred stock, shares outstanding (in shares) | 0 shares | 133.4M shares | 99.6M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss | -$745.9M | -$275.6M | -$175.6M |
| Depreciation and amortization | $22.0M | $16.5M | $8.6M |
| Loss on disposal of property and equipment | $3.4M | $365.0K | $1.7M |
| Loss on issuance of convertible preferred stock | $379.6M | $0 | $0 |
| Stock-based compensation | $34.8M | $12.1M | $9.0M |
| Warrant expense | $6.1M | $0 | $0 |
| Non-cash interest expense | $2.2M | $2.2M | $239.0K |
| Other | $565.0K | $308.0K | $158.0K |
| Accounts receivable | -$3.6M | $34.0K | -$968.0K |
| Prepaid expenses and other current assets | -$662.0K | $6.4M | -$7.5M |
| Other assets and liabilities | -$10.0K | $10.0K | $1.0M |
| Accounts payable, accrued expenses and current liabilities | $30.2M | $6.2M | $5.7M |
| Operating lease liabilities | -$24.0K | $429.0K | -$257.0K |
| Deferred revenue | $3.5M | $8.6M | -$82.0K |
| Net cash used in operating activities | -$267.8M | -$222.7M | -$158.0M |
| Purchases of property and equipment | -$45.4M | -$73.5M | -$153.2M |
| Proceeds from sale of property and equipment | $1.4M | $4.7M | $907.0K |
| Net cash used in investing activities | -$44.1M | -$68.8M | -$152.3M |
| Proceeds from sale-leaseback transaction | $32.7M | $0 | $0 |
| Proceeds from initial public offering, net of underwriters discounts and commissions | $1.1B | $0 | $0 |
| Payment of other initial public offering issuance costs | -$10.2M | $0 | $0 |
| Proceeds from issuance of promissory note | $0 | $15.5M | $135.7M |
| Payment of debt issuance costs | $0 | -$191.0K | -$1.2M |
| Repayment of borrowings | -$3.8M | -$913.0K | -$973.0K |
| Exercise of stock options | $5.2M | $1.7M | $722.0K |
| Principal payments on finance lease obligations | -$62.0K | -$51.0K | -$4.0K |
| Repurchase of common stock | $0 | -$530.0K | $0 |
| Net cash provided by financing activities | $1.7B | $339.3M | $134.3M |
| Effect of currency translation on cash, cash equivalents and restricted cash | $28.0K | $25.0K | -$141.0K |
| Increase (decrease) in cash, cash equivalents and restricted cash | $1.4B | $47.9M | -$176.2M |
| Cash paid for interest | $10.9M | $9.2M | $112.0K |
| Cash paid for taxes | $168.0K | $30.0K | $196.0K |
| Right-of-use assets recognized for new leases | $1.5M | $817.0K | $736.0K |
| Right-of-use assets modified for amendments | $6.0K | -$930.0K | $342.0K |
| Property and equipment recorded in accounts payable | $7.5M | $8.3M | $13.0M |
| Stock issuance costs recorded in accounts payable and accrued liabilities | $591.0K | $10.7M | $0 |
| Assets received in lieu of cash | $0 | $1.0M | $0 |
| Asset transferred to held for sale | $0 | $888.0K | $425.0K |
Former names
- Beta Technologies Inc.Apr 1, 2021 to Aug 27, 20253
Recent filings
- Oct 14, 2026144
- Oct 14, 2026144/A
- Oct 14, 20264
- Oct 13, 2026144
- Oct 13, 2026144
- Oct 9, 2026144
- Oct 9, 20264
- Oct 8, 2026144
- Oct 8, 2026144/A
- Oct 7, 2026144
- Oct 6, 2026144
- Oct 6, 20264
- Oct 5, 2026144
- Oct 2, 2026144
- Oct 1, 2026144
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
The numbers on this page point here. Each one links to the record it came from.
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