Vertical Aerospace reported strong progress in Q1 2025, advancing toward certification and commercialization of its VX4 electric aircraft. The company is on track for full-scale, piloted wingborne flight in Q2 and announced a new 1,000-mile hybrid-electric VTOL program targeting defense, logistics, and commercial markets. The hybrid variant offers stealth advantages, including low noise and heat signatures, making it ideal for sensitive missions. Vertical also expanded its partnership with Honeywell to certify critical flight systems, added experienced board members, and maintained industry-leading capital efficiency with £69M in cash on hand. Read Vertical’s press release:
On pace to achieve full-scale, piloted wingborne flight with all-electric prototype in Q2
• Announces 1,000-mile hybrid-electric VTOL programme to serve defence, logistics and wider commercial applications
• Signs new long-term partnership with Honeywell to certify and produce critical elements of the VX4’s flight control and aircraft management systems
• Board strengthened with three new directors with deep capital markets expertise
• Maintains industry-leading capital efficiency1
• Q1 2025 results call today at 08:30 am ET (13:30 BST)Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering electric aviation, today provided an operating update and released financial results for the first quarter ended March 31, 2025. The first quarter 2025 results filing is accessible on the Company’s investor relations website.
Stuart Simpson, CEO at Vertical, said: “2025 is on pace to be a transformational year for Vertical as we advance our piloted flight test programme and move into the final flight test phases. With the announcement of our hybrid-electric programme – opening up new high-value markets – and the expansion of our partnership with Honeywell to certify critical flight systems, we are deepening our technical and commercial edge. With growing regulatory confidence in the VX4 and a strong team behind us, we’re well-positioned to deliver a scalable, certifiable aircraft to the global market.”
Advancing Our Best-in-Class Aircraft:
• Entered into new long-term agreement with Honeywell to certify critical aircraft management and flight controls systems for the production version of the VX4.The agreement also includes new Honeywell inceptors to make the VX4 easier and safer for pilots to fly.
• Announced the development of a long range 1,000 mile hybrid-electric vertical-take-off-and landing (VTOL) variant of its VX4 aircraft to unlock new market opportunities in defence, logistics and wider commercial applications.
• Doubled flight testing capabilities with the delivery of the third full-scale VX4 prototype to Vertical’s Flight Test Center, where assembly will be completed.
• Expanded Vertical’s test pilot team with the appointment of Paul Stone, former Volocopter Chief Test Pilot, becoming one of the few eVTOL companies to have two test pilots with experience flying full-scale eVTOL aircraft.
• Supported the acceleration of global, industry-wide charging infrastructure by adopting the Combined Charging Standard (CCS) for the VX4.Moving at Pace Towards Certification and Industrialisation:
• In Q2 we anticipate receiving approval from the UK Civil Aviation Authority (CAA) to start piloted wingborne flight tests, another significant step in the expansion of our flight test programme.
• Scheduled to complete piloted transition flight, the final stage of Vertical’s flight test programme, in the second half of 2025.
• Appointed three new Board members, James Keith (JK) Brown, Kris Haber, and Carsten Stendevad, bringing business development expertise, a deep understanding of capital markets, and experience scaling growth-stage companies.Financial Outlook:
• Maintained industry-leading capital efficiency 2; and as of March 31, 2025, cash and cash equivalents totaled £69 million ($89 million), expected to provide sufficient funding to support operations into the fourth quarter of 2025.
• No change to expectations for FY 2025 net operating cash outflows of approximately £90 million to £100 million ($110 million to $125 million).
• Expected net cash outflows from operating activities for the next 12 months of approximately £90 million ($120 million), which will be used primarily to continue funding the assembly and testing of the VX4.
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