Shares of Beta Technologies soared Tuesday after the electric aircraft maker raised its annual revenue outlook and highlighted a recent regulatory milestone allowing demonstration flights with prospective customers.
Beta stock rose 15% to $23.53, putting it on track for its largest daily percentage increase since February, according to Dow Jones Market Data. Shares have fallen 17% in 2026, but they have risen 73% since hitting a 52-week closing low of $13.59 in March.
The company reported third-quarter revenue of $17.7 million, nearly doubling from a year earlier and beating Wall Street's consensus estimate of $10.8 million, according to FactSet. It reported a loss of 51 cents a share, narrower than analyst projections for a loss of 59 cents.
Beta lifted its full-year revenue guidance to between $52 million and $57 million, up from a prior forecast of $42 million to $50 million. Wall Street projected full-year revenue of $46.9 million.
Beta also highlighted an FAA authorization announced Oct. 21 that allows prospective customers to experience its aircraft firsthand.
CEO Kyle Clark said in a news release that Beta secured "historic" authorization from the Federal Aviation Administration to fly prospective customers aboard its A250 electric aircraft. The authorization allows the company to conduct demonstration flights with potential buyers ahead of full commercial certification.
The company has benefited from federal efforts to accelerate the adoption of electric aircraft. Earlier this year, Beta was selected as a partner in seven of eight projects under a Transportation Department pilot program designed to test the technology in real-world conditions.
Beta went public in November 2025 and develops electric aircraft, propulsion systems, and charging infrastructure. Its aircraft include conventional takeoff and landing models as well as electric vertical takeoff and landing aircraft, or eVTOLs, for passenger and cargo transportation.
Beta said its aircraft backlog surpassed $4 billion in the third quarter, representing 1,040 aircraft across firm orders and options backed by financial commitments. The total exceeded the company's year-end target ahead of schedule.
Still, Beta faces hurdles before it can begin fulfilling those orders.
The company's aircraft must secure full FAA certification for standard commercial operations, while continued losses underscore the costs of developing and manufacturing electric aircraft.
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