BETA Technologies, Inc. (NYSE:BETA) shares fell 4.47% in premarket trading on Wednesday after the aerospace and defence company reported a second-quarter loss that was wider than Wall Street had anticipated.
For the quarter ended June 30, 2026, BETA posted an adjusted loss of $0.64 per share, compared with the analyst consensus for a loss of $0.46 per share.
Revenue provided a stronger signal, rising 146% year on year to $14.7 million from $6.0 million in the corresponding quarter of 2025. The company recorded a net loss of $148.8 million, while adjusted EBITDA came in at -$109.8 million.
BETA highlights progress in electric aviation and defence
Despite the wider quarterly loss, management highlighted operational milestones achieved across BETA’s aerospace programmes.
“This quarter showed that the investments made across the business continue to translate into real-world operations and delivered tangible results,” said Kyle Clark, founder and chief executive officer of BETA.
“We became the first company to launch operations under the eVTOL Integration Pilot Program, demonstrated hybrid-electric flight at commercial altitude with GE Aerospace, unveiled the MV250 for defense applications, and continued to grow our backlog,” he said.
The developments underline BETA’s continued investment across electric aviation, hybrid-electric technology and defence applications as the company works towards broader commercialisation of its aircraft platforms.
Research and development spending remains elevated
Operating expenses totalled $166.1 million during the second quarter, with research and development accounting for $122.4 million.
R&D expenditure included a $5.7 million non-cash warrant expense associated with BETA’s collaborative arrangement with GE Aerospace.
The figure also included $16.1 million of in-process research and development expenses connected with an acquisition.
The elevated spending reflects the capital-intensive nature of BETA’s development strategy as it continues investing in aircraft technology, certification and commercial operations.
BETA raises 2026 revenue guidance
BETA increased its full-year 2026 revenue forecast to between $42 million and $50 million, giving the range a midpoint of $46 million.
The company also updated its adjusted EBITDA outlook and now expects a loss of between $400 million and $445 million for the year. The midpoint of the range represents an adjusted EBITDA loss of $422.5 million.
While the higher revenue guidance points to improving commercial activity, the adjusted EBITDA forecast highlights the substantial level of investment still required to support BETA’s expansion.
Cash position rises to $1.48 billion
BETA ended the second quarter with $1.48 billion in cash and cash equivalents as of June 30, 2026.
That compares with $174.5 million at the same point a year earlier, giving the company considerably greater liquidity as it funds its development and commercialisation programmes.
The negative premarket reaction followed the larger-than-expected quarterly loss, despite rapid revenue growth, an upgraded full-year sales outlook and continued progress across BETA’s electric aviation and defence initiatives.