BETA Technologies, Inc.
For the period ended Sep 30, 2025. Filed Dec 4, 2025.
View on SEC.govAbout this filing
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 Balance Sheets
| September 30, 2025 | December 31, 2024 | |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $687,627 | $301,396 |
| Accounts receivable(1) | 7,683 | 2,152 |
| Prepaid expenses and other current assets(1) | 17,196 | 23,791 |
| Total current assets | 712,506 | 327,339 |
| Property and equipment, net | 331,706 | 319,588 |
| Operating lease right-of-use assets | 16,582 | 16,411 |
| Prepaid expenses and other non-current assets | 8,543 | 3,034 |
| Total assets | $1,069,337 | $666,372 |
| Liabilities, convertible preferred stock and stockholders’ equity | ||
| Current liabilities: | ||
| Accounts payable | $13,166 | $16,232 |
| Deferred revenue, current(2) | 3,616 | 6,401 |
| Operating lease liabilities, current | 1,540 | 1,741 |
| Notes payable, current | 5,670 | 2,835 |
| Accrued expenses and other current liabilities | 44,320 | 29,345 |
| Total current liabilities | 68,312 | 56,554 |
| Deferred revenue, non-current(2) | 12,430 | 6,360 |
| Operating lease liabilities, non-current | 16,995 | 16,683 |
| Notes payable, non-current | 179,103 | 149,231 |
| Other liabilities | 2,608 | 1,601 |
| Total liabilities | 279,448 | 230,429 |
| Commitments and contingencies (see Note 7) | ||
| Convertible preferred stock and stockholders’ equity: | ||
| Convertible Series A preferred stock, $0.00002 par value, 56,088,617 shares authorized, issued and outstanding as of September 30, 2025 and December 31, 2024; liquidation preference of $640,005 as of September 30, 2025 and December 31, 2024(3) | 624,733 | 624,733 |
| Convertible Series B preferred stock, $0.00002 par value, 30,925,502 shares authorized; 25,416,180 shares issued and outstanding as of September 30, 2025 and December 31, 2024; liquidation preference of $505,263 and $483,190 as of September 30, 2025 and December 31, 2024, respectively(3) | 491,961 | 469,889 |
| Convertible Series C preferred stock, $0.00002 par value, 26,479,034 shares authorized; 26,445,232 and 18,060,773 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively; liquidation preference of $494,564 and $327,561 as of September 30, 2025 and December 31, 2024, respectively(3) | 539,527 | 316,691 |
| Convertible Series C-1 preferred stock, $0.00002 par value, 27,872,661 shares authorized; 23,545,451 shares issued and outstanding as of September 30, 2025 and 0 shares issued and outstanding as of December 31, 2024; liquidation preference of $422,843 and $0 as of September 30, 2025 and December 31, 2024, respectively(3) | 724,747 | — |
| Common stock, $0.00002 par value, 239,813,390 and 223,340,884 shares authorized; 37,578,571 and 37,040,639 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively(3) | 1 | 1 |
| Common stock, super voting, $0.00002 par value, 8,501,484 shares authorized, issued, and outstanding as of September 30, 2025 and December 31, 2024(3) | — | — |
| Treasury stock | (5,888) | (5,888) |
| Additional paid-in capital | — | — |
| Accumulated deficit | (1,585,099) | (969,276) |
| Foreign currency translation adjustments | (93) | (207) |
| Total convertible preferred stock and stockholders’ equity | 789,889 | 435,943 |
| Total liabilities, convertible preferred stock and stockholders’ equity | $1,069,337 | $666,372 |
(1)Includes related party amounts of $2,226 and $1,473 (accounts receivable) and $0 and $9,897 (prepaid expenses and other current assets) as of September 30, 2025, and December 31, 2024, respectively (see Note 14).
(2)Includes related party amounts of $1,011 and $400 (deferred revenue, current) and $8,545 and $3,497 (deferred revenue, non-current) as of September 30, 2025, and December 31, 2024, respectively (see Note 14).
(3)Share amounts have been adjusted to reflect the 6.3811681-for-1 forward stock split that became effective on November 3, 2025 in connection with the initial public offering (see Note 1).
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