🔹 Adj EPS: -$0.17 (Est. -$0.20) 🟢
🔹 Net Loss: $(206.0M)
🔹 Adjusted EBITDA: $(118.7M)
🔹 Cash & Equivalents: $1.724B
🔹 Oper Expenses: $176.1M (GAAP) / $123.5M (Non-GAAP)
Outlook (Q3’25):
🔹 Adj. EBITDA loss expected: $110M–$130M
Operations:
🔹 Six Midnight aircraft in production; three in final assembly
🔹 Facilities: Silicon Valley “golden manufacturing line” + Georgia high-volume plant
🔹 FAA reviews/inspections underway for production certificate
Commercial & Strategic Updates:
🔹 Selected as Official Air Taxi Provider for LA28 Olympic Games
🔹 UAE Launch Edition program started — first Midnight delivered, flight tests in Abu Dhabi, initial commercial payments expected this year
🔹 Accelerated defense program with two acquisitions (Overair patent/talent + Mission Critical Composites assets)
CEO:
🔸 “We’re executing from a position of strength with $1.7B in liquidity and ramping manufacturing ahead of early commercial deployments.”