Shares of Beta Technologies Inc (BETA) tumbled 6.47% in pre-market trading on Wednesday after the company reported second-quarter results that fell short of analysts' expectations.

The company posted revenue of $14.7 million, more than doubling from $6.0 million a year earlier, but its net loss widened to $148.8 million, or $0.64 per share. The loss per share was steeper than the FactSet consensus estimate of a $0.60 loss. Higher research and development spending and a decline in gross margin contributed to the wider loss despite the strong top-line growth.

Adding to the pressure, CEO Kyle Clark disclosed sales of approximately $1.17 million worth of common shares in the days leading up to the report. Beta Technologies raised its full-year 2026 revenue guidance to a range of $42 million to $50 million, but also forecast an adjusted EBITDA loss of $400 million to $445 million.