Revenue growth remains volatile, characterized by a 150.9% surge in 2025Q4, while operating margins remain deeply negative at -13.1% as of 2026Q1 due to heavy R&D spending.
| Sales/Revenue | 34.62M | 35.62M | 15.09M | 15.36M |
| Revenue Growth % | - | 135.99% | -1.73% | - |
| Cost of Goods Sold | 23.8M | 9.9M | 20.98M | 10.64M |
| COGS % of Revenue | - | 27.8% | 139.03% | 69.3% |
| Gross Profit | 10.83M | 25.71M | -5.89M | 4.71M |
| Gross Margin % | 31.27% | 72.2% | -39.03% | 30.7% |
| Gross Profit Growth % | - | 536.51% | -224.97% | - |
| Operating Expenses | 435.14M | 398.38M | 266.33M | 191.28M |
| OpEx % of Revenue | - | 1118.55% | 1764.7% | 1245.58% |
| Selling, General & Admin | 142.01M | 138.49M | 59.42M | 53.01M |
| SG&A % of Revenue | - | 388.84% | 393.71% | 345.19% |
| Research & Development | 298.28M | 259.89M | 206.91M | 138.27M |
| R&D % of Revenue | - | 729.71% | 1370.99% | 900.39% |
| Other Operating Expenses | -1000K | 0 | 0 | 0 |
| Operating Income | -424.31M | -372.67M | -272.22M | -186.57M |
| Operating Margin % | -1225.59% | -1046.35% | -1803.74% | -1214.89% |
| Operating Income Growth % | - | -36.9% | -45.91% | - |
| EBITDA | -401.5M | -350.64M | -255.76M | -177.95M |
| EBITDA Margin % | -1159.71% | -984.51% | -1694.65% | -1158.77% |
| EBITDA Growth % | - | -37.1% | -43.72% | - |
| D&A (Non-Cash Add-back) | 22.81M | 22.03M | 16.46M | 8.62M |
| EBIT | -785.73M | -732.14M | -263.7M | -174.18M |
| Net Interest Income | 18.92M | 7.17M | -2.91M | 12.04M |
| Interest Income | 32.68M | 20.15M | 8.52M | 12.39M |
| Interest Expense | 13.76M | 12.97M | 11.43M | 352K |
| Other Income/Expense | -360.7M | -372.44M | -2.91M | 12.04M |
| Pretax Income | -785.01M | -745.11M | -275.13M | -174.53M |
| Pretax Margin % | -2267.44% | -2092.07% | -1823.03% | -1136.5% |
| Income Tax | 913K | 756K | 514K | 1.03M |
| Effective Tax Rate % | -0.12% | -0.1% | -0.19% | -0.59% |
| Net Income | -785.92M | -745.87M | -275.64M | -175.56M |
| Net Margin % | -2270.08% | -2094.19% | -1826.43% | -1143.21% |
| Net Income Growth % | - | -170.59% | -57.01% | - |
| Net Income (Continuing) | -785.92M | -745.87M | -275.64M | -175.56M |
| Discontinued Operations | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -3.41 | -4.20 | -1.37 | -0.90 |
| EPS Growth % | - | -206.57% | -52.22% | - |
| EPS (Basic) | - | -4.20 | -1.37 | -0.90 |
| Diluted Shares Outstanding | 230.77M | 229.23M | 223.81M | 223.81M |
| Basic Shares Outstanding | 230.77M | 229.23M | 223.81M | 223.81M |
| Dividend Payout Ratio | - | - | - | - |
FAA Certification Delay Risk
According to the provided financial data, BETA achieved a 150.9% revenue increase in 2025Q4 compared to prior periods, reflecting the successful execution of government-backed R&D milestones and early-stage infrastructure deployments that suggest a transition toward more consistent, albeit lumpy, project-based revenue recognition patterns for the firm.
The rapid revenue growth appears driven by non-recurring milestone payments rather than sustained commercial demand, which warrants caution regarding future durability. Investors should monitor whether this trajectory can be maintained as the company shifts from R&D-heavy contracts toward the more capital-intensive phase of commercial aircraft production.
As reported in the quarterly income statements, BETA's gross margin fluctuated significantly from a negative 43.6% in 2024Q4 to a peak of 69.3% in 2025Q3, indicating that current profitability metrics are heavily influenced by the specific accounting treatment of intellectual property milestones rather than standardized manufacturing unit economics.
The extreme variance in gross margins suggests that the company's current profitability profile is not representative of a mature industrial manufacturer. Future margin compression appears inevitable as the firm begins to absorb the full bill-of-materials costs associated with scaling the ALIA-250 production line.
Based on the reported figures, BETA's operating income remains deeply negative, with losses reaching $133.0M in 2026Q1, demonstrating that the company's current cost structure is scaling faster than its top-line revenue, which highlights the massive fixed-cost burden inherent in its dual-path certification and infrastructure-first business model.
The lack of operating leverage suggests that the company is currently prioritizing market positioning and technical certification over immediate cost efficiency. This strategy may be necessary for long-term viability, but it leaves the firm highly sensitive to any delays in achieving its FAA certification milestones.
While management emphasizes the proprietary nature of its charging network, the income statement reveals that the heavy R&D and SG&A spending required to maintain this ecosystem may create a significant financial overhang if the industry eventually converges on a different, more universal charging standard for electric aviation.
The high-risk capital allocation toward proprietary infrastructure may not yield the expected recurring revenue if competitors successfully lobby for alternative standards. Investors should consider the possibility that these investments could become stranded assets, further complicating the company's path to achieving sustainable, positive operating cash flow.
Quick answers to the most common questions about buying BETA stock.
For fiscal year 2025, BETA Technologies, Inc. (BETA) reported total revenue of $35.6M. This represents a 131.9% increase compared to $15.4M in 2023.
BETA Technologies, Inc. (BETA) reported a net loss of $745.9M for the fiscal year ending 2025.
BETA Technologies, Inc. (BETA) reported an operating income of $-372.7M, resulting in an operating profit margin of -1046.3%. This margin reflects the operational efficiency of the business before interest and taxes.
BETA Technologies, Inc. (BETA) generated $25.7M in gross profit for the year, representing a gross profit margin of 72.2%. This demonstrates the company's core pricing power and production efficiency.