BETA Technologies Inc
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BETA Technologies Inc AI Insights
Informational only. Not investment advice.Snapshot
- TTM revenue of 28.9M vs 687.6M cash - 24x cash runway enables 2+ years burn at current -288M FCF rate without dilution.[Cash and Equivalents]
- R&D spend of 231M TTM is 8x revenue (28.9M) - pre-commercialization phase with P/S of 126x vs industry median 1.0x.[Research and Development TTM]
- Gross margin 76% TTM vs industry median 19% - if scale achieved, operating leverage could be substantial.[Gross Margin TTM]
Watch Triggers
- Total Revenue TTM: Quarterly revenue exceeds 20M (annualized 80M+) — Would signal commercial deliveries beginning - key catalyst for re-rating.
- Cash and Equivalents: Falls below 400M without revenue inflection — Would signal dilutive raise needed within 12-18 months.
- Operating Expense TTM: Exceeds 400M without revenue growth — Would indicate cost discipline failure, accelerating cash burn.
Bull Case
76% gross margin TTM vs 19% industry median suggests premium product positioning. If revenue scales 10x, current opex base could yield profitability without proportional cost growth.
687M cash with 570M recent equity raise provides runway through FAA certification without near-term dilution risk at current burn rate.
Bear Case
P/S of 126x vs industry median 1.0x prices in flawless execution. Any certification delay or production issue could trigger 50%+ multiple compression.
Negative stockholders equity (-1.59B) with -672M net loss TTM. At current burn, 687M cash lasts ~2.4 years - dilution likely before profitability.
Bull vs Bear Balance
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Forward Thesis
Commercialization inflection in 1-3y will determine if 76% gross margin translates to operating profitability.
- R&D 231M vs revenue 28.9M signals late-stage development
- 570M equity raise in period funds certification push
- PPE of 348M indicates manufacturing buildout
Valuation Context
Caveats
Public Strategies Rankings
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BETA Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$3.41B | — | ||
$2.92B | — | ||
0.00 | — | ||
$28.92M | — | ||
$-3.89 | — | ||
-1,086% | — | ||
-2,325% | — | ||
$-288.28M | — | ||
0% | — | ||
Beta 5Y (Monthly) | unknown | — |
BETA Dividend History
BETA Stock Splits
BETA SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
12/04/25 | 09/30/25 | 10-Q | |
06/30/25 | 06/30/25 | 424B4 | |
10/15/25 | 06/30/25 | S-1/A | |
11/04/25 | 06/30/25 | 424B4 | |
10/15/25 | 12/31/24 | S-1/A | |
11/04/25 | 12/31/24 | 424B4 | |
12/04/25 | 09/30/24 | 10-Q |