BETA Technologies, Inc. Q4 FY2025 earnings call

2025 had milestones like earning part 35 type certification for propeller, closing G1 certification basis on A250, starting part 33 motor credit testing. Commercial efforts included customer deployments, international flying, record setting. Defense programs grew, partnership with GE launched. 2026 awaits EIPP announcement, goal to fly 250k nautical miles, reach 150 charge sites, focus on production ramping and certification progress.

2025 full year revenue was $35.6 million, more than double 2024's $15.1 million. Operating expenses in 2025 totaled $398 million, including $260 million in research and development and $138 million in general and administrative expense. Adjusted EBITDA for 2025 was negative $304 million. Ended the year with approximately $1.7 billion in cash.

2026 revenue expected $39M - $43M, adjusted EBITDA negative $305M - $395M. 2026 CapEx expected $175M - $225M. First quarter revenue $7M - $10M, adjusted EBITDA negative $95M - $110M. EIPP not included in guidance initially, will update if selected.

Actual results may differ from forward-looking statements due to risks like policy/regulatory changes, market competition, production/certification delays.

Questions and answers include discussion on IPO funds impact, EIPP outcome, production ramp engineering effort, backlog drivers, EBITDA range, EIPP program unfolding, cash use, etc.