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SOUTH BURLINGTON, VT. – March 9, 2026 – BETA Technologies, Inc. (NYSE: BETA) (“BETA” or the “Company”), an electric aerospace company leading in the development and commercialization of electric aircraft, charging infrastructure, and aerospace-grade electric propulsion, today announced its financial and operating results for the fourth quarter and full year ended December 31, 2025.

Kyle Clark, President and Chief Executive Officer, commented, “2025 was a defining year for BETA. We entered the public markets backed by world class investors and strong support from our strategic partners. We demonstrated our capabilities in the air to customers, partners and regulators, reaching a total of over 100,000 nautical miles flown. We sustained that momentum through certification milestones across our family of aircraft, continued expansion of our charging network domestically and internationally, and added to our commercial aircraft and component backlog. With a healthy balance sheet and clear milestones ahead in 2026, we are set to maintain our commanding lead in electric aviation.”

•Record-Setting Flights and Global Demonstrations: Conducted demonstration flights with our customers in Norway and New Zealand, performed in the Paris Air Show and Oshkosh, completed the first all-electric passenger flight to New York’s JFK Airport, and set multiple world records in the Pulitzer Air Race.

•Built Upon High-Quality Backlog for both Aircraft and Components: As of December 31, 2025, BETA had an existing commercial aircraft backlog with world-class operators of 891 aircraft worth approximately $3.5 billion, of which 289 are firm orders, 602 are options. Additionally, BETA was selected to supply its motors to Eve Air Mobility, a 10-year opportunity worth up to $1 billion.


	Three Months Ended December 31,				Year Ended December 31,
	2025		2024		2025		2024
Revenues	$	11,133	$	4,437	$	35,616	$	15,092
Cost of revenues	4,231		1,220		9,901		4,519
Gross margin	6,902		3,217		25,715		10,573
Research and development	89,408		60,758		259,892		206,910
General and administrative	52,250		18,484		138,491		75,883
Total operating expenses	141,658		79,242		398,383		282,793
Loss from operations	(134,756)		(76,025)		(372,668)		(272,220)
Net loss	(149,959)		(76,442)		(745,868)		(275,645)
Adjusted EBITDA (1)	(103,452)		(68,167)		(304,140)		(243,286)
Capital expenditures (2)	19,784		21,828		45,447		73,509
Cash and cash equivalents	1,710,227		301,396		1,710,227		301,396

(1) In addition to results determined in accordance with U.S. generally accepted accounting principles (“GAAP”), this press release contains financial measures that are not calculated and presented in accordance with GAAP. See “Non-GAAP Financial Measures” for definitions of these non-GAAP financial measures. A reconciliation of the non-GAAP measures to their related GAAP measures can be found in the supplemental tables later in this press release.

Revenues for the quarter ended December 31, 2025 were $11.1 million, compared to $4.4 million for the quarter ended December 31, 2024. Product revenues and Service revenues for the quarter ended December 31, 2025 were $4.4 million and $6.7 million, respectively. Revenues for the year ended December 31, 2025 were $35.6 million, compared to $15.1 million for the year ended December 31, 2024. Product revenues and Service revenues for the year ended December 31, 2025 were $12.4 million and $23.2 million, respectively. The increase in Product revenues was due to deliveries of BETA motors and other enabling technologies in both the quarter and the year ended December 31, 2025. The increase in Service revenues was driven by engineering services contracts with commercial and government customers and charging network access fees in both the quarter and the year ended December 31, 2025.

Operating expenses for the quarter and year ended December 31, 2025 were $141.7 million and $398.4 million, respectively. Operating expenses included research and development expenses of $89.4 million and $259.9 million for the quarter and full year, respectively. Non-cash warrant expense related to the collaborative arrangement with GE Aerospace of $5.8 million and $6.1 million, respectively, was embedded in research and development expenses in both the quarter and year ended December 31, 2025. Investments in research and development enable our certification programs and the further advancement of our enabling technologies.

BETA has not reconciled our forward-looking Adjusted EBITDA guidance because certain items that impact this non-GAAP metric are uncertain or out of BETA's control and cannot be reasonably predicted. In particular, stock-based compensation expense is impacted by the future fair market value of BETA's Class A common stock, BETA's future hiring needs, and other factors, all of which are difficult to predict, subject to frequent change, or not within BETA's control. The actual amount of these expenses during 2026 could materially affect BETA's future GAAP financial results. Accordingly, a reconciliation of this forward-looking non-GAAP metric is not available without unreasonable effort.

BETA will host a live webcast and conference call at 8:30 am ET today to discuss quarter and full year financial and operating results. A link to the live webcast and supporting materials can be accessed on the Company’s Investor Relations website and a replay webcast will be available following the call. Participants may also join the conference call by registering on our Investors Relations website.

BETA (NYSE: BETA) is an aerospace company designing, manufacturing and selling high-performance electric aircraft, advanced electric propulsion systems, components and charging systems to top operators worldwide. BETA has built and flown its family of ALIA aircraft, consisting of both conventional fixed-wing electric aircraft (the “ALIA CTOL”) and electric vertical takeoff and landing aircraft (the “ALIA VTOL”), more than 120,000 nautical miles, including multiple trips across the United States. BETA is deploying a network of charging infrastructure to enable the growing industry with more than 100 sites across the United States and internationally. BETA’s intentional approach to developing the enabling technologies necessary to electrify aviation unlocks lucrative aftermarket revenue opportunity over the life of each aircraft. These highly scalable enabling technologies allow BETA to serve a customer base across cargo and logistics, defense, passenger and medical end markets and unlock cost-effective and safe missions. BETA was named the #1 company on TIME’s list of the World’s Top GreenTech Companies of 2025. Visit www.beta.team for more information about BETA and its products.

This press release and the accompanying earnings call contain forward-looking statements within the meaning of federal securities laws. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding our future financial and operating performance, including our outlook and guidance; our regulatory outlook, progress and timing; our business strategy, plan, objectives, and goals; capital needs and the growth of our growth of our operations, manufacturing capabilities, and supporting infrastructure for aircraft development and deployment; plans and anticipated benefits with respect to our collaborations with third parties, and projected demand for our aircraft, other products, and services.

Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, factors described throughout the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our prospectus for our IPO filed with the Securities and Exchange Commission (the “SEC”) on November 4, 2025 pursuant to Rule 424(b)(4) of the Securities Act of 1933, as amended, as such

descriptions may be updated or amended by the factors that will be included in our Annual Report on Form 10-K for the year ended December 31, 2025 and in future reports we file with the SEC. Moreover, we operate in a very competitive and rapidly changing environment, and new risks and uncertainties may emerge that could have an impact on the forward-looking statements contained in this press release and the accompanying earnings call.

Any forward-looking statement made by us in this press release and the accompanying earnings call is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement whether as a result of new information, future developments or otherwise.

We define EBITDA as net loss, adjusted for interest income, interest expense, provision for income taxes, and depreciation and amortization expense. We define Adjusted EBITDA as EBITDA adjusted for loss on issuance of convertible preferred stock, stock-based compensation expense, warrant expense, loss on disposal of property and equipment, and IPO readiness costs.

We believe that these non-GAAP measures provide useful information to investors because they allow for greater transparency into what measures we use in operating our business and measuring our performance and enable comparison of financial trends and results between periods where items may vary independent of business performance. These non-GAAP measures are presented for supplemental informational purposes and should not be considered as substitutes for or superior to financial information presented in accordance with GAAP. The principal limitation of these non-GAAP financial measures is that they exclude certain expenses that are required by GAAP to be recorded in our financial statements and they are subject to inherent limitations as they reflect the exercise of judgment by our management about which expenses are excluded or included in determining these non-GAAP financial measures. Further, non-GAAP financial measures are not standardized. It may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures. In addition, investors are encouraged to review our consolidated financial statements included in our filings with the SEC in their entirety and not rely solely on any single financial measure.

We caution readers that our definitions of these non-GAAP financial measures may not be calculated in the same manner as similar measures used by other companies. Reconciliations of the non-GAAP financial measures to their most comparable GAAP financial measures are included in the supplemental tables attached to this press release.


	Three Months Ended December 31,				Year Ended December 31,
	2025		2024		2025		2024
Revenues:
Product	$	4,436	$	462	$	12,429	$	1,857
Service	6,697		3,975		23,187		13,235
	11,133		4,437		35,616		15,092
Cost of revenues:
Product	1,748		271		4,003		1,521
Service	2,483		949		5,898		2,998
	4,231		1,220		9,901		4,519
Gross margin:
Product	2,688		191		8,426		336
Service	4,214		3,026		17,289		10,237
	6,902		3,217		25,715		10,573
Operating expenses:
Research and development	89,408		60,758		259,892		206,910
General and administrative	52,250		18,484		138,491		75,883
Total operating expenses	141,658		79,242		398,383		282,793
Loss from operations	(134,756)		(76,025)		(372,668)		(272,220)
Other expense (income):
Interest expense	3,758		2,925		12,972		11,427
Interest income	(12,799)		(2,776)		(20,147)		(8,516)
Loss on issuance of convertible preferred stock	24,068		—		379,619		—
Total other expense	15,027		149		372,444		2,911
Loss before income taxes	(149,783)		(76,174)		(745,112)		(275,131)
Provision for income taxes	176		268		756		514
Net loss	(149,959)		(76,442)		(745,868)		(275,645)
Convertible preferred stock paid-in-kind dividend	178,217		10,714		217,353		30,701
Net loss attributable to common stockholders	$	(328,176)	$	(87,156)	$	(963,221)	$	(306,346)
Net loss per share attributable to common stockholders, basic and diluted	$	(2.02)	$	(1.92)	$	(12.85)	$	(6.77)


	Year Ended December 31,
	2025		2024
Assets
Current assets:
Cash and cash equivalents	$	1,710,227	$	301,396
Accounts receivable	5,747		2,152
Prepaid expenses and other current assets	23,494		23,791
Total current assets	1,739,468		327,339
Property and equipment, net	348,540		319,588
Operating lease right-of-use assets	16,417		16,411
Other non-current assets	1,840		3,034
Total assets	$	2,106,265	$	666,372
Liabilities, stockholders’ equity and convertible preferred stock
Current liabilities:
Accounts payable	$	24,503	$	16,232
Accrued expenses	35,109		24,517
Deferred revenue	3,704		6,401
Operating lease liabilities	1,551		1,741
Notes payable	5,711		2,835
Other current liabilities	5,817		4,828
Total current liabilities	76,395		56,554
Deferred revenue, non-current	12,550		6,360
Operating lease liabilities, non-current	16,838		16,683
Notes payable, non-current	179,799		149,231
Other liabilities	2,847		1,601
Total liabilities	288,429		230,429
Total stockholders' equity and convertible preferred stock(1)	1,817,836		435,943
Total liabilities, stockholders’ equity and convertible preferred stock	$	2,106,265	$	666,372


	Three Months Ended December 31,				Year Ended December 31,
	2025		2024		2025		2024
Net loss	$	(149,959)	$	(76,442)	$	(745,868)	$	(275,645)
Increase (decrease) as adjusted for:
Interest income	(12,799)		(2,776)		(20,147)		(8,516)
Interest expense	3,758		2,925		12,972		11,427
Provision for income taxes	176		268		756		514
Depreciation and amortization expense	5,712		5,151		22,026		16,464
EBITDA	$	(153,112)	$	(70,874)	$	(730,261)	$	(255,756)
Loss on issuance of convertible preferred stock	24,068		—		379,619		—
Stock-based compensation expense	17,942		2,933		34,761		12,105
Warrant expense	5,765		—		6,073		—
Loss on disposal of property and equipment	937		(226)		3,410		365
IPO readiness costs(1)	948		—		2,258		—
Adjusted EBITDA	$	(103,452)	$	(68,167)	$	(304,140)	$	(243,286)