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Beta Technologies

Beta Technologies is an American electric aerospace company founded in 2017 by aerospace engineer and pilot Kyle Clark, headquartered in South Burlington, Vermont, that designs, manufactures, and operates all-electric vertical takeoff and landing (eVTOL) and conventional takeoff and landing (CTOL) aircraft, along with supporting charging infrastructure and training programs, to enable sustainable air mobility for cargo, medical, and passenger transport. The company originated from Clark's vision to address inefficiencies in air logistics, particularly after discussions with biotech entrepreneur Martine Rothblatt of United Therapeutics, leading to the initial development of the AVA eVTOL prototype in 2017 at Heritage Aviation in Vermont. By 2019, Beta shifted focus to the ALIA aircraft platform, completing its first Iron Bird systems test and building a Generation 1 electric motor, followed by tethered hover tests of the ALIA SN1 in 2020 and its inaugural CTOL flight later that year. Milestones accelerated in 2021 with a $368 million Series A funding round and an order for 10 ALIA aircraft from UPS, while 2022 brought a U.S. Army partnership for eVTOL logistics testing, a $368 million Series B raise, and a record 2,400-mile cross-country demonstration flight. In 2023, the company opened a 188,000-square-foot net-zero production facility in Vermont and hosted FAA test pilots for ALIA evaluations; 2024 saw a $300 million-plus Series C funding and the first flight from its production line. At the core of Beta's offerings is the ALIA family of aircraft, including the CX300 CTOL model with a 50-foot wingspan, a range of up to 336 nautical miles, capacity for 5 passengers or 200 cubic feet of cargo, a top speed of 176 mph (153 knots), and recharge times under one hour using Beta's proprietary H500A electric motor and fly-by-wire systems. The eVTOL variant, ALIA-250, supports vertical operations for urban and remote missions, with both configurations emphasizing 90% noise reduction compared to helicopters and operational simplicity for pilots. Complementing the aircraft are Beta's Charge Cube modular charging stations, which enable rapid deployment of electric aviation infrastructure, and training programs that have certified pilots from partners like the U.S. Department of Defense. The company has also disclosed plans for a larger 19-passenger hybrid-electric aircraft in its 2025 IPO filing, developed in collaboration with GE Aerospace. Beta has secured strategic partnerships with major players to scale its ecosystem, including UPS for cargo delivery trials, United Therapeutics for organ transport, Bristow Group for offshore operations, and Air New Zealand for regional mobility expansions announced in 2025. Military collaborations with the U.S. Army and Air Force have involved four successful engagements testing ALIA for logistics in austere environments, while commercial backers like Amazon through The Climate Pledge support Beta's goal of net-zero emissions in aviation. As of 2025, the company reports a backlog exceeding 600 aircraft and infrastructure serving over 50 million people within 50 miles of its charging network. In November 2025, Beta Technologies went public on the New York Stock Exchange, raising approximately $1 billion through the sale of 29.9 million shares at $34 each, achieving a valuation of $7.4 billion and closing its debut day up nearly 6% at $36 per share. This IPO, one of the largest for an aerospace startup, underscores the company's revenue growth—doubling to $15.6 million in the first half of 2025—and positions it to accelerate certification and production amid a burgeoning eVTOL market. Recent demonstrations include the first passenger-carrying all-electric flight into New York City's JFK Airport in June 2025 and ongoing hybrid-electric advancements with GE to extend range for future models.

Overview

Founding and Leadership

Beta Technologies was founded in 2017 by Kyle Clark, an experienced pilot, engineer, and entrepreneur, in South Burlington, Vermont. Clark, who holds an A.B. in Materials Sciences and Engineering from Harvard University and previously served as director of engineering at Dynapower, established the company with a focus on developing electric vertical takeoff and landing (eVTOL) aircraft to advance sustainable aviation. His background as a test pilot with over 4,000 flight hours and holder of patents in electric aircraft propulsion drove the initial vision for innovative electric aviation solutions. From its origins as a small startup, Beta Technologies has evolved into a leading manufacturer of electric aviation systems, emphasizing reliable and environmentally friendly alternatives to traditional aircraft. The company's initial mission centered on creating an electric transportation ecosystem that is safe, sustainable, and capable of supporting cargo and passenger transport through advanced electric propulsion technologies. This focus has positioned Beta as a pioneer in reducing aviation's carbon footprint, with systems designed for logistics, medical, and military applications. As of 2025, Kyle Clark continues to serve as founder, CEO, and president, leading the executive team that includes Chief Technology Officer Dr. David Churchill, who oversees engineering and innovation with a Ph.D. in biomedical engineering from the University of Pennsylvania and prior experience at LORD-Microstrain; Chief Financial Officer Herman V. Cueto, bringing over 30 years in finance from roles at Dentsply Sirona and Azenta; Chief Operating Officer Sean Donovan, with expertise in aerospace and electric vehicle technology from Tesla; Chief Revenue Officer Shawn Hall, a former U.S. Navy pilot with advanced degrees from Northwestern and Harvard; and Chief Legal Officer Brian Dunkiel, a veteran attorney from Dunkiel Saunders PLLC. Following its initial public offering in November 2025, Beta Technologies' board of directors comprises a mix of industry experts and innovators, chaired by Charles Davis and including Clark and Churchill as directors. Other members are John Abele, founder of Boston Scientific; Dean Kamen, inventor and founder of DEKA; Michael Stone, founder of FS Investors; Martine Rothblatt, founder of Sirius XM; James McConville, retired U.S. Army Chief of Staff; Amy Gowder; and John Slattery, all contributing governance across committees focused on audit, compensation, and strategy.

Operations and Facilities

Beta Technologies maintains its primary manufacturing and assembly operations at a 188,000 square foot net-zero energy facility located at Patrick Leahy Burlington International Airport in South Burlington, Vermont. This state-of-the-art site serves as the central hub for aircraft production, housing dedicated research and development laboratories, assembly lines, and flight testing capabilities to support the scaling of electric aircraft manufacturing. The facility's design incorporates renewable energy sources and energy-efficient systems to achieve net-zero operations, aligning with the company's commitment to sustainable aviation infrastructure. In support of international expansion, Beta Technologies established an engineering office in Montréal, Quebec, in 2023, focusing on structural engineering, materials processing, and aircraft certification to tap into the region's aerospace talent pool. This addition enhances the company's global operational footprint while complementing its North American base. The company's operational scale reflects robust demand and infrastructure development, with an order backlog of approximately 900 aircraft valued at over $3.5 billion as of November 2025. Beta Technologies has implemented specialized pilot training programs using advanced simulators, successfully training more than eight pilots from Unither Bioelectronics for ALIA flight testing, alongside personnel from organizations such as the FAA, U.S. Air Force, and UPS. Its charging network, powered by modular Charge Cube units, provides coverage to more than 50 million people within a 50-mile radius across the U.S. and Canada, facilitating seamless electric flight operations. Sustainability remains integral to Beta Technologies' facilities and aircraft operations, with the South Burlington site exemplifying net-zero energy consumption through solar integration and waste heat recovery systems. The ALIA aircraft lineup is designed for all-weather capability, including certification for instrument flight rules (IFR) operations and flight into known icing (FIKI), with FAA type certification targeted for 2026-2027, ensuring reliability in adverse conditions without compromising efficiency.

History

Early Development (2017–2019)

Beta Technologies initiated its early development efforts in 2017 with the launch of the AVA-XC project, aimed at creating an electric vertical takeoff and landing (eVTOL) demonstrator to explore electric aviation technologies. That year, the company relocated its initial operations to a workspace at Heritage Aviation in Burlington, Vermont, providing access to airport facilities essential for prototyping. Concurrently, Beta began an in-house flight training program to build expertise among its team, focusing on piloting skills relevant to electric aircraft operations. In 2018, Beta expanded its infrastructure by moving to a dedicated research and development facility in Plattsburgh, New York, which supported more advanced testing and prototyping activities. The AVA-XC commenced free hover testing at this site, marking the first tethered and untethered demonstrations of its electric propulsion and vertical lift capabilities. This shift centralized flight test operations in New York, allowing the company to leverage the region's resources while applying early learnings from AVA to inform subsequent designs. By 2019, Beta transitioned toward production-oriented development with the design of the ALIA aircraft platform, a cargo and passenger eVTOL derived from AVA-XC insights. The company constructed its Generation 1 electric motor in-house and developed an Iron Bird test rig—a full-scale ground simulator—for validating ALIA's systems without flight risks. Additionally, Beta installed the first prototype elevated landing pad and pilot station to support emerging infrastructure needs for electric aircraft operations. Throughout this period, Beta faced significant challenges due to the nascent state of the electric aviation supply chain, which lacked off-the-shelf components for eVTOL applications. As a result, the team built proprietary elements from scratch, including a custom chromoly frame, EMRAX motors integrated with epicyclic gearboxes for propulsion, and propellers crafted from Vermont maple and carbon fiber. These efforts addressed gaps in available technology while navigating FAA certification requirements that deemed extensive modifications to existing airframes as new designs.

Growth and Milestones (2020–2023)

In 2020, Beta Technologies advanced its ALIA program by launching a flight simulator to support pilot training and testing. The company conducted tethered hover tests with the full-scale ALIA SN1 prototype, validating vertical lift capabilities in a controlled environment. Later that year, the full-scale ALIA achieved its inaugural conventional takeoff and landing (CTOL) flight, demonstrating stable operations on runways. The year 2021 marked significant commercialization progress for Beta Technologies, with major orders signaling market confidence in the ALIA platform. In February, UPS Flight Forward placed an order for 10 ALIA-250 cargo aircraft, with an option to purchase up to 150 units total, aimed at enhancing sustainable package delivery networks. Shortly after, in April, BLADE Urban Air Mobility ordered 5 passenger-configured ALIAs, reserving 15 more, to integrate into urban air mobility services starting in 2024. These deals were complemented by operational milestones, including the ALIA's first airport-to-airport flight and U.S. Air Force approval under the Agility Prime program for crewed military flights, enabling expanded testing with defense partners. Beta Technologies' growth accelerated in 2022 through deepened military collaborations and ambitious demonstrations of the ALIA's range and reliability. The company partnered with the U.S. Army under a flight test contract to evaluate the ALIA for logistics and resupply missions, culminating in the aircraft's first flights with Army personnel. In April, LCI Aviation signed a committed order for 50 ALIAs with options for 75 additional units, positioning the leasing firm to deploy the eVTOLs for regional cargo and passenger operations. A highlight was the ALIA's completion of a 2,400-mile cross-country flight demonstration, showcasing its endurance across multiple states and airports while recharging at Beta's fixed-wing infrastructure sites. These efforts contributed to regulatory momentum, with Beta applying for FAA type certification of its fixed-wing CX300 variant under Part 23, targeting entry into service by 2025. By 2023, Beta Technologies focused on scaling production and securing aviation authority endorsements, solidifying its path to commercialization. FAA test pilots performed qualitative evaluations of the ALIA, assessing handling qualities and performance to inform certification standards for electric aircraft. The company opened an engineering hub in Montréal, Canada, in March, hiring local aerospace experts to advance structural engineering and materials development for the ALIA lineup. The company also opened a 188,000-square-foot net-zero production facility in Vermont to support scaling manufacturing. In collaboration with UPS, Beta conducted a proof-of-concept cargo flight, simulating real-world delivery routes to validate operational efficiency and charging logistics. Overall, these years saw Beta accumulate hundreds of manned flight hours on the ALIA platform, primarily through military exercises and customer demonstrations, while progressing toward full type certification by engaging in FAA stepwise approvals for key components like propellers and propulsion systems.

Recent Advancements (2024–2025)

In 2024, Beta Technologies strengthened its infrastructure for electric aviation through a partnership with Atlantic Aviation, integrating charging solutions at multiple fixed-base operator locations to support seamless electric aircraft operations across the U.S. The company's Charge Cube, a versatile high-power charger compatible with aircraft, vehicles, and other electric systems, received UL certification in April, confirming its compliance with rigorous safety standards and enabling broader deployment. Later that year, Beta secured over $300 million in Series C equity funding in October, led by the Qatar Investment Authority, to accelerate production, certification, and commercialization efforts. Building on this momentum in 2025, Beta expanded its collaboration with Air New Zealand, initiating test flights of the ALIA CX300 electric aircraft in October for regional operations, including cargo and mail delivery routes in New Zealand. The company also conducted a successful coast-to-coast demonstration flight in April with its production-intent ALIA aircraft, covering over 8,000 nautical miles across more than 20 states to validate long-range capabilities and network integration. In July, the FAA granted type certification to the electric propeller system co-developed with Hartzell Propeller, marking the first such approval under Part 35 for an electric aircraft component and advancing Beta's stepwise certification strategy for the ALIA variants. A key strategic move came in September 2025, when Beta announced a collaboration with GE Aerospace, including a $300 million equity investment, to develop a hybrid-electric turbogenerator aimed at extending range and payload for advanced air mobility applications. The year culminated in November with Beta's initial public offering on the New York Stock Exchange, raising over $1 billion by pricing 29.9 million shares at $34 each, with the stock closing at $36 on its debut day and valuing the company at approximately $7.4 billion. This IPO triggered a significant wealth surge for executives and major investors, collectively nearing $1.4 billion in newfound equity value. Despite these achievements, Beta faced ongoing challenges, reporting a net loss of $183.2 million in the first half of 2025 amid investments in scaling operations, even as revenue doubled to $15.6 million year-over-year.

Technology

Electric Propulsion Systems

Beta Technologies develops its electric propulsion systems in-house, focusing on motors, batteries, and power electronics tailored for high-performance aviation applications. The company began with the Generation 1 electric motor as part of its foundational engineering efforts, evolving to produce advanced permanent magnet synchronous motors that emphasize efficiency, reduced part counts, and integration with flight controls. These systems, including the H500A pusher motor (427 kW peak power, 98% efficiency) and V600A lift motors (455 kW peak, 95% efficiency), feature high torque densities and redundancy to support demanding vertical takeoff and landing (VTOL) and conventional takeoff and landing (CTOL) operations. The propulsion architecture enables significant operational efficiencies, with advanced electric systems achieving a 74% total operating cost reduction compared to traditional helicopters for VTOL missions and 42% versus conventional aircraft for CTOL configurations. Beta's proprietary inverters, designed in-house to synchronize with batteries and motors, optimize power delivery and minimize losses, contributing to these gains through streamlined energy conversion. Energy storage relies on custom lithium-ion battery packs with 45 kWh nameplate capacity, 832 V maximum voltage, and 176 Wh/kg energy density, incorporating redundant safety features like thermal runaway protection and non-uniform discharge mitigation. These batteries support demonstrated ranges of 336 nautical miles in CTOL variants and charge times under one hour via high-power DC fast-charging. Thermal management systems (TMS) are integral to battery performance, providing liquid cooling and optimal conditioning to maintain efficiency and longevity across diverse environmental conditions. The TMS integrates seamlessly with charging infrastructure, enabling rapid preconditioning of battery packs to prevent degradation from temperature extremes and support all-weather reliability. Over 70,000 hours of testing since 2021 have validated these components against DO-160G standards, ensuring robust operation in aviation scenarios. In hybrid-electric advancements, Beta collaborates with GE Aerospace on a turbogenerator system announced in September 2025, combining the company's in-house electric generators with GE's turbine expertise to extend range beyond pure electric limits. This $300 million partnership targets advanced air mobility applications, integrating gas turbine power generation with Beta's electric propulsion for enhanced endurance while retaining core efficiencies. These innovations power the ALIA aircraft family, underscoring Beta's focus on scalable, decarbonized flight.

Aircraft Design and Capabilities

Beta Technologies' ALIA aircraft series employs a modular airframe design that enables seamless adaptation between vertical takeoff and landing (VTOL) and conventional takeoff and landing (CTOL) configurations, optimizing versatility for diverse mission profiles. This architecture supports a cabin capacity of up to five passengers plus one pilot, or an equivalent cargo volume of 200 cubic feet, prioritizing flexibility in passenger and logistics operations. Aerodynamic features, including a 50-foot wingspan, enhance lift efficiency and overall performance in electric flight environments. Key capabilities include a demonstrated maximum range of 336 nautical miles and a top speed of 153 knots, facilitating efficient regional air mobility. The design supports all-weather Instrument Flight Rules (IFR) operations with single-pilot certification, ensuring operational reliability across varied environmental conditions. Engineered by pilots for pilots, the ALIA emphasizes operational simplicity through intuitive controls and handling characteristics that minimize pilot workload and training requirements. Safety is integral to the design, with distributed electric propulsion incorporating multiple motors—four lift motors and one cruise motor in VTOL mode—for inherent redundancy in propulsion and flight control. In 2023, FAA test pilots and engineers performed a qualitative evaluation of the ALIA's handling qualities, stability, and control during flight trials, validating its robust performance envelope. The electric architecture drives cost efficiencies, with operating expenses estimated at $28 per hour for VTOL (84% lower emissions than a comparable Bell 407 helicopter) and $18 per hour for CTOL (75% lower emissions than a Cessna 208), underscoring the platform's economic viability. The modular airframe further enables scalability for future enhancements, such as hybrid electric integrations via partnerships like the one with GE Aerospace, without necessitating core design overhauls.

Products

ALIA Aircraft Variants

The ALIA aircraft lineup from Beta Technologies features modular designs adaptable to various operational needs, primarily through vertical takeoff and landing (VTOL) and conventional takeoff and landing (CTOL) configurations. These variants support cargo and passenger transport in urban, remote, and logistics environments, emphasizing flexibility for commercial and specialized applications. The ALIA VTOL variant is optimized for vertical takeoff and landing operations, enabling efficient service in urban air mobility and remote cargo or passenger missions where runway infrastructure is limited. In 2021, BLADE placed a firm order for 5 ALIA VTOL units, with options for 15 more, targeting urban passenger transport. Similarly, LCI ordered 50 ALIA VTOL aircraft that year, with reservations for an additional 75, focusing on hospitality and remote access applications. The ALIA-250 eVTOL model serves as a cargo-oriented variant capable of vertical operations, supporting high-volume logistics with access to existing runways where possible to enhance efficiency in supply chain operations. UPS committed to purchasing 10 ALIA-250 eVTOL units in 2021 through its Flight Forward subsidiary, with options for up to 140 additional aircraft, to support time-sensitive package deliveries in rural and suburban areas. Beta Technologies has developed adaptations of the ALIA platform for defense and medical transport sectors. For defense, the company is evaluating crewed and uncrewed variants with the U.S. Air Force and Army, including deployments for tactical logistics, resupply, and operational testing at facilities like Eglin Air Force Base. In medical applications, adaptations support organ transplant transport in partnership with United Therapeutics, leveraging the aircraft's quiet operation and reliability for time-critical missions. As of November 2025, Beta Technologies maintains an order backlog of nearly 900 ALIA units across variants, reflecting strong market demand following the company's Series C funding round, which raised $318 million in late 2024 to support manufacturing expansion. In November 2025, e-Smart Group ordered up to 20 ALIA CTOL aircraft for operations in Europe and the UAE. Production is ramping up at the company's 188,000-square-foot facility in Vermont, with initial focus on CTOL models like the CX300 cargo variant. Customization options for the ALIA lineup include modular payload configurations, allowing operators to adjust for specific missions such as up to 1,400 pounds of cargo in standard setups or passenger interiors accommodating five occupants plus a pilot. These adaptations enable seamless transitions between cargo pods, medical equipment bays, or defense modules while maintaining core airframe compatibility.

Charging and Infrastructure Solutions

Beta Technologies offers a suite of ground-based charging solutions tailored for electric aviation, emphasizing modularity, interoperability, and rapid deployment to support aircraft operations at airports and remote locations. The flagship Charge Cube is a UL-certified fast-charging station, achieving certification in April 2024 after rigorous safety testing by Underwriters Laboratories, marking it as the first such charger designed specifically for electric aircraft while also supporting cars and trucks via the Combined Charging System (CCS). This 4-foot-tall unit fits conveniently under an aircraft wing and includes a 50-foot cable for straightforward plug-and-charge access, delivering up to 350 kW to enable recharges in under one hour for compatible systems like the ALIA aircraft. Complementing the Charge Cube are specialized variants for diverse operational needs. The Mini Cube serves as a portable, self-contained Level 3 DC fast charger in 40 kW and 65 kW models, ideal for mobile applications in aviation and ground electric transportation, including remote or temporary sites where full infrastructure is unavailable. The TMS Cube, or Thermal Management System Cube, pairs with the Charge Cube to provide advanced battery conditioning, optimizing temperature control for improved charging efficiency and extended battery life during operations. These solutions are multimodal, ensuring compatibility across electric aircraft and vehicles to streamline logistics. Beta's charging infrastructure emphasizes scalability, from standalone mobile units deployable in austere environments to networked fixed installations that integrate with existing power grids. This flexibility supports military applications, as evidenced by the first U.S. Air Force installation at Duke Field in 2023, where the system enables reliable charging for defense logistics in varied settings. In 2024, the company expanded its network by installing chargers at 30 new sites—nearly doubling the total to 46 locations across 22 states—with an additional 23 sites in development for public and private use along U.S. coasts. A notable integration occurred with Atlantic Aviation that year, activating electric chargers at four fixed-base operator facilities to enhance regional coverage. In November 2025, Abu Dhabi Airports selected Beta's Charge Cube for its eVTOL charging network. Practical deployments highlight the infrastructure's real-world utility. For instance, proof-of-concept sites with UPS incorporate Charge Cubes to support rapid aircraft turnaround, aligning with cargo route evaluations and enabling under-one-hour recharges for efficient package delivery operations. By November 2025, the network exceeded 50 active sites, providing a robust backbone for electric aviation growth.

Partnerships and Funding

Key Collaborations

Beta Technologies has established significant collaborations across logistics, defense, and other sectors to advance the development, testing, and commercialization of its electric vertical takeoff and landing (eVTOL) aircraft and related infrastructure. These partnerships provide access to real-world testing environments, pilot training programs, and market validation opportunities, enhancing the company's technological maturation and operational scalability. In the logistics domain, Beta Technologies partnered with UPS in 2021 for an initial order of up to 150 ALIA aircraft, followed by the first crewed cargo flights in 2023, demonstrating the platform's viability for sustainable package delivery. Amazon has also provided backing for cargo applications, supporting Beta's efforts to integrate eVTOL into urban and regional supply chains. Defense collaborations form a cornerstone of Beta's testing and validation efforts. The company achieved the first crewed aircraft release with the U.S. Air Force in 2021 at Plattsburgh International Airport, marking a milestone in military-grade electric aviation trials. In 2022, Beta entered a contract with the U.S. Army to support flight testing of the ALIA for tactical resupply missions. Overall, Beta has completed four successful engagements with the Department of Defense, leveraging military contracts and Export-Import Bank (EXIM) financing to fund prototype development and flight testing. Beyond logistics and defense, Beta Technologies has forged partnerships for specialized applications. United Therapeutics collaborates on medical transport, utilizing the ALIA platform for organ delivery to improve time-sensitive healthcare logistics. Bristow Group focuses on offshore operations, testing eVTOL for oil and gas platform support. BLADE Urban Air Mobility integrates Beta's aircraft for urban passenger services, aiming to reduce emissions in city airspace. LCI Aerospace has placed bulk orders for ALIA variants tailored to regional cargo needs. Atlantic Aviation supports charging infrastructure deployment at key U.S. locations in 2024. Air New Zealand is expanding eVTOL capabilities in 2025 for regional connectivity in Oceania. Additionally, GE collaborates on hybrid-electric technologies to extend mission ranges for Beta's aircraft. In November 2025, Abu Dhabi Airports selected Beta's Charge infrastructure for the emirate's advanced air mobility network. These alliances extend internationally, with Beta's Montréal office facilitating Canadian collaborations for cross-border testing and regulatory alignment, broadening the company's global footprint in electric aviation.

Financial History and 2025 IPO

Beta Technologies, founded in 2017, secured initial equity funding through a seed round of $143 million in March 2021, supported by early investors including the Amazon Climate Pledge Fund. By 2020, the company began receiving significant support from military contracts, notably a $799.6 million Other Transaction Agreement from the U.S. Air Force in September for eVTOL research and simulator development. Although the Export-Import Bank of the United States (EXIM) provided a $169 million loan in 2023 to finance a net-zero final assembly facility, this built on the foundational non-dilutive funding from military sources during the 2017–2020 period. The company's funding trajectory accelerated with larger equity rounds to support manufacturing expansion. In 2021, Beta closed a $368 million Series A round led by Fidelity Management & Research Company. This was followed by a $375 million Series B in April 2022, led by TPG Rise Climate and Fidelity. The Series C round in October 2024 raised $318 million, exceeding $300 million and bringing total private funding to over $1 billion; this investment notably enabled progress toward charging system certification. Prior to its public debut, Beta's private valuation grew substantially, reaching approximately $3.5 billion amid a backlog of more than 600 aircraft orders. On November 4, 2025, the company launched its initial public offering (IPO) on the New York Stock Exchange (NYSE: BETA), raising over $1 billion through the sale of 29.9 million shares priced at $34 each, above the marketed range of $27 to $33. Shares debuted with a 5.88% gain, closing at $36 and valuing the company at about $7.4 billion. The IPO significantly boosted executive wealth, with top insiders' collective net worth increasing by nearly $1.4 billion. However, Beta reported a first-half 2025 net loss of $183.2 million on revenue of $15.6 million, driven by heavy investments in research and development. Following the IPO, Beta gained access to public markets to fund key milestones, including FAA certification of its ALIA aircraft and ramping up production to address the order backlog.

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