Updated at 3:30 p.m.
Beta Technologies filed papers on Monday ahead of an initial public offering on the New York Stock Exchange, a pivotal moment for the Vermont-based electric aviation company.
The filing with the U.S. Securities and Exchange Commission followed a report last week that Beta was quietly planning to go public. Its prospectus indicates that Beta will begin trading “as soon as practicable” but does not list the terms of the proposed stock offering.
The company hopes to trade under the symbol “BETA,” according to the filing.
Beta has raised more than a billion dollars in private funding in recent years as it races to become one of the first U.S. companies to produce small electric and hybrid-electric aircraft. Amazon, GE Aerospace and others have invested in the firm, which is headquartered at the Patrick Leahy Burlington International Airport in South Burlington. Beta constructed a manufacturing facility there last year, though it is still working to obtain certification of its aircraft from the Federal Aviation Administration.
The process of designing and certifying these novel aircraft, which eventually are intended to take off vertically and operate autonomously, is immensely costly. As the path to certification for Beta and others has exceeded earlier timelines, the companies have sought to raise additional funds. Many of Beta’s competitors have already gone public through alternative mechanisms. Beta is pursuing a traditional IPO.
The prospectus provides an unprecedented look into one of the most dynamic tech startups ever born in Vermont. The company, founded in 2018, now employs more than 800 full-time staff across its locations in Vermont, New York, Québec and elsewhere.
Earlier this month, Beta finished raising another $417 million through a private Series C funding round, led by a $300 million investment partnership with GE Aerospace. The disclosures made public on Monday, however, show how heavily Beta’s quest to bring its electric planes to market depends on attracting still more capital.
The company has been spending money at an astonishing clip, the prospectus indicates. Beta reported net losses of $176 million in 2023 and $276 million last year. It lost another $159 million during the first six months of 2025.
The company reported having $174 million in cash as of June 30, before the deal with GE Aerospace.
Expenses are expected to increase over the next several years as Beta gets closer to commercial sales, according to the company. It reported $15 million in revenue during the first half of 2025, the majority of which came from contracts with the federal government and the biomedical firm United Therapeutics, whose CEO, Martine Rothblatt, has been a key Beta backer.
Beta projects to win FAA certification of a conventional-flight version of its electric aircraft, Alia, by the end of 2026 or early 2027. The full-fledged version that can take off and land vertically like a helicopter won’t receive certification until a year later.
Beta leaders believe they are “well positioned” to become the first company to achieve FAA certification for an electric airplane, the prospectus states. Alia prototypes have flown thousands of flights totaling more than 80,000 nautical miles. The company was also the first to successfully perform a piloted vertical takeoff and landing. Companies such as UPS, Air New Zealand and United Therapeutics have placed advance orders for a total of 174 planes, with options to purchase nearly 500 more.
Competition in the commercially unproven field of small electric aviation is fierce, however. That’s just one of the numerous risks that Beta outlined in its materials for investors. Regulation, infrastructure, access to capital, market demand and public perception of electric planes all pose potential stumbling blocks.
CEO and founder Kyle Clark will remain the controlling shareholder following the public offering. He earned just over $1 million in salary and bonuses last year, the prospectus states, and is on pace for higher earnings this year.
Beta is starting the “inevitable transition” to electric aircraft, Clark wrote in a letter to prospective investors.
“I believe the benefits of our core technologies will prove to be disruptive,” Clark wrote.
By law, the information filed on Monday must be disclosed at least 15 days before Beta begins soliciting investors ahead of an IPO date. A Beta spokesperson declined to comment on Monday, citing “quiet period” provisions surrounding initial public offerings that restrict certain company communications.
Few U.S. firms have gone public over the past three years, but that number has begun climbing during 2025 despite market volatility caused by shifting global tariffs. Market conditions play an important role in the success of public offerings.
Morgan Stanley and Goldman Sachs are lead underwriters for Beta’s offering.
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