BETA Technologies, Inc.
For the period ended Sep 30, 2025. Filed Dec 4, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Dec 4, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations and Comprehensive Loss
| For the Three Months EndedSeptember 30, | For the Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Revenues: | ||||
| Product revenue(1) | $2,917 | $799 | $7,993 | $1,395 |
| Service revenue(1) | 6,001 | 2,267 | 16,490 | 9,260 |
| 8,918 | 3,066 | 24,483 | 10,655 | |
| Cost of revenues: | ||||
| Product revenue | 1,660 | 662 | 2,255 | 1,250 |
| Service revenue | 1,081 | 527 | 3,415 | 2,049 |
| 2,741 | 1,189 | 5,670 | 3,299 | |
| Gross margin: | ||||
| Product revenue | 1,257 | 137 | 5,738 | 145 |
| Service revenue | 4,920 | 1,740 | 13,075 | 7,211 |
| 6,177 | 1,877 | 18,813 | 7,356 | |
| Operating expenses: | ||||
| Research and development | 56,371 | 54,043 | 170,484 | 146,152 |
| General and administrative(2) | 30,380 | 20,834 | 86,241 | 57,399 |
| Total operating expenses | 86,751 | 74,877 | 256,725 | 203,551 |
| Loss from operations | (80,574) | (73,000) | (237,912) | (196,195) |
| Other (expense) income: | ||||
| Interest expense | (3,464) | (2,908) | (9,214) | (8,502) |
| Interest income | 2,628 | 1,035 | 7,348 | 5,740 |
| Loss on issuance of convertible preferred stock | (355,551) | — | (355,551) | — |
| Total other (expense) | (356,387) | (1,873) | (357,417) | (2,762) |
| Loss before income taxes | (436,961) | (74,873) | (595,329) | (198,957) |
| Income tax expense | (253) | (191) | (580) | (246) |
| Net loss | (437,214) | (75,064) | (595,909) | (199,203) |
| Convertible preferred stock PIK dividend | (14,596) | (7,035) | (39,136) | (19,987) |
| Net loss attributable to common stockholders | $(451,810) | $(82,099) | $(635,045) | $(219,190) |
| Net loss per share attributable to common stockholders, basic and diluted | $(9.83) | $(1.81) | $(13.86) | $(4.85) |
| Weighted average common shares outstanding, basic and diluted | 45,948,603 | 45,269,895 | 45,807,560 | 45,174,580 |
| Comprehensive loss: | ||||
| Net loss | $(437,214) | $(75,064) | $(595,909) | $(199,203) |
| Foreign currency translation adjustments | (110) | 23 | 114 | (47) |
| Comprehensive loss | $(437,324) | $(75,041) | $(595,795) | $(199,250) |
(1)Includes related party amounts of $0 and $535 (product revenue) and $1,454 and $1,260 (service revenue) for the three months ended September 30, 2025 and 2024, respectively. Includes related party amounts of $0 and $1,059 (product revenue) and $5,064 and $3,805 (service revenue) for the nine months ended September 30, 2025 and 2024, respectively (see Note 14).
(2)Includes related party amounts of $0 and $(549) (general and administrative) for the three months ended September 30, 2025 and 2024, respectively. Includes related party amounts of $(140) and $(1,057) (general and administrative) for the nine months ended September 30, 2025 and 2024, respectively (see Note 14). See accompanying notes to consolidated financial statements.
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