The electric vertical takeoff and landing (eVTOL) industry witnessed a pivotal moment as BETA Technologies (BETA.US) made its debut on the New York Stock Exchange on November 4, 2025. Shares closed at $36, up 5.88% from its IPO price of $34 per share, which exceeded the initially projected range of $27–$33.

The company raised over $1 billion by issuing 29.9 million shares, achieving a valuation of approximately $7.4 billion. This places BETA’s market capitalization above that of eVTOL competitor Archer Aviation (ACHR.US) ($6.1 billion) and nearly half of Joby Aviation’s (JOBY.US) $13 billion valuation. Notably, BETA’s IPO marks the largest in the low-altitude economy sector to date, surpassing Joby’s $4.5 billion valuation at its own IPO.

BETA’s listing is seen as a critical test for the emerging eVTOL industry’s ability to secure Federal Aviation Administration (FAA) certification. While Joby leads the sector, Archer’s backers argue the technology could alleviate air traffic congestion. BETA disclosed in its prospectus that Archer is among its customers for ground support equipment, including chargers deployed across 51 U.S. locations.

Financially, BETA remains in its early stages, with H1 2025 net losses widening to $183.2 million from $137.1 million a year earlier. However, revenue doubled to $15.6 million from $7.6 million.

Founded in 2017, BETA is led by CEO and test pilot Kyle Clark, who revealed the company is conducting "backend" missions for the U.S. military and expects full FAA commercial certification within 30 months. Clark emphasized the need to demonstrate operational success and secure sufficient orders to justify its public market entry.

The IPO proceeded despite the U.S. government shutdown, which left the SEC understaffed. Major pre-IPO shareholders include Amazon (AMZN.US) (10.2%) and General Electric (6.3%). GE Aerospace committed an additional $300 million in September 2025, while Amazon first invested via its Climate Pledge Fund in 2021, aligning with its net-zero emissions goal by 2040.

On BETA’s listing day, rivals Joby and Archer saw shares drop 9% and 6%, respectively, despite both companies’ market caps nearly tripling over the past year.