BETA Technologies, Inc.BETA

BETA Technologies, Inc. Segments Disclosure

10-KFiled Mar 9, 20261 min read
Segment Reporting
The Company has one operating and reportable segment - Development and Manufacturing of Electric Aircraft. The Company determined its reportable segment based on how the chief operating decision maker (“CODM”) evaluates the business. Substantially all of the Company’s fixed assets are located in the United States and substantially all of the Company’s revenue is generated in the United States. The Company’s foreign operations consist of expenses associated with engineering and related supporting administrative services.
The Company’s CODM is its Chief Executive Officer. As the Company has a single reportable segment and is managed on a consolidated basis, the measure of segment profit or loss is consolidated net loss. The CODM reviews the financial information presented on a consolidated basis for purposes of making operating decisions, allocating resources and evaluating financial performance. The CODM does not use any segment asset measures to assess performance and decide how to allocate resources.
The following table sets out the Company’s measure of profit or loss and significant segment expenses (in thousands):
Year Ended December 31,
202520242023
Revenues$35,616 $15,092 $15,357 
Cost of revenues9,901 4,519 2,025 
Operating and other expenses
Research and development259,892 206,910 138,273 
General and administrative138,491 75,883 61,629 
Other segment items(1)
373,200 3,425 (11,007)
Net loss$(745,868)$(275,645)$(175,563)
(1)Other segment items are comprised of the loss on issuance of convertible preferred stock, interest income/expense and income taxes.

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

Other Available Disclosures

Income TaxesRevenuePP&ELeasesCommitmentsNew Standards