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Bears are Losing Control Over Vertical Aerospace (EVTL), Here's Why It's a 'Buy' Now
ZACKS· 2025-06-02 14:55
Core Viewpoint - Vertical Aerospace Ltd. (EVTL) has experienced a decline of 7.8% in its stock price over the past two weeks, but the formation of a hammer chart pattern suggests potential support and a possible trend reversal in the future [1][2]. Technical Analysis - The hammer chart pattern indicates a minor difference between opening and closing prices, with a long lower wick suggesting that the stock may have found support after a downtrend [4][5]. - This pattern typically forms when bears have control, but buying interest emerges, pushing the stock price up towards the opening price, signaling a potential trend reversal [5]. Fundamental Analysis - There has been a positive trend in earnings estimate revisions for EVTL, which is considered a bullish indicator and may lead to price appreciation [7]. - The consensus EPS estimate for the current year has increased by 100% over the last 30 days, indicating strong agreement among Wall Street analysts regarding the company's improved earnings potential [8]. - EVTL holds a Zacks Rank of 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, which typically outperform the market [9].
Vertical Aerospace (EVTL) 2025 Conference Transcript
2025-05-29 20:30
Summary of Vertical Aerospace Investor Conference Company Overview - **Company Name**: Vertical Aerospace - **Ticker**: EVTL (New York Stock Exchange) - **CEO**: Stuart Simpson - **Industry**: Aerospace, specifically focusing on electric vertical takeoff and landing (eVTOL) aircraft Key Points and Arguments 1. **Market Positioning**: Vertical Aerospace is well-positioned for success in the aerospace sector, having undergone a significant industry shakeout, leaving only a few players likely to succeed in the coming years [4][5][6] 2. **Certification Progress**: The company is making substantial progress towards certification under the UK Civil Aviation Authority (CAA) and the European Union Aviation Safety Agency (EASA), with a target certification date set for 2028 [6][27] 3. **Financial Health**: Vertical Aerospace has cleaned up its balance sheet by equitizing a $130 million convertible loan and raising $90 million in new equity, making it highly investable [8][10] 4. **Market Growth**: The eVTOL market is at a tipping point, with approximately $1.8 billion flowing into the sector recently, indicating a strong belief in the market's potential to reach a trillion-dollar valuation [11][12] 5. **Urban Mobility Challenge**: The company aims to address urban mobility issues in mega cities, where traditional transport infrastructure is insufficient [14][16] 6. **Operational Efficiency**: Vertical's aircraft, the VX4, has zero single points of failure and significantly lower operating costs compared to helicopters, making it a more viable option for urban transport [19][20] 7. **Safety Standards**: The VX4 is designed to meet a safety standard of 10 to the minus nine, making it significantly safer than helicopters [21][24] 8. **Customer Base**: The company has secured around 1,500 orders from major airlines and leasing companies, showcasing strong demand for its aircraft [26] 9. **Hybrid Variant**: A recently announced hybrid variant of the aircraft expands market opportunities, particularly in the defense sector, potentially doubling the size of the business [34][46] 10. **Partnerships**: Vertical Aerospace has a long-standing partnership with Honeywell, focusing on flight control software and technology integration, which is crucial for certification and production [50][52] Additional Important Content - **Infrastructure Development**: There is a significant investment in infrastructure for eVTOL operations, with over 1,200 verticals expected to be built by 2028 [12] - **Regulatory Oversight**: The company emphasizes the importance of regulatory oversight in the UK, which sets it apart from competitors operating in less regulated environments [48][55] - **Future Plans**: Upcoming milestones include wingborne flying tests and the final design of the certification aircraft, with expectations to ramp up production post-certification [56][57] This summary encapsulates the critical insights from the Vertical Aerospace investor conference, highlighting the company's strategic positioning, market potential, and operational advancements.
Buy 5 Aerospace Defense Stocks for Second-Half 2025 on Growing Demand
ZACKS· 2025-05-27 13:01
Industry Overview - The aerospace defense industry is experiencing growth despite supply-chain challenges, driven by increased defense budgets and positive projections for global air passenger numbers in the second half of 2025 [1][3] - A White House report indicates a proposed 13% increase in U.S. defense spending to $1.01 trillion for fiscal year 2026, which is expected to benefit defense-focused companies [4] - The Zacks-defined Aerospace – Defense Industry ranks in the top 16% of Zacks Industry Rank, suggesting it will outperform the market in the next three to six months [5] Company Summaries GE Aerospace - GE Aerospace is seeing strong demand for commercial engines and propulsion technologies, supported by rising defense budgets and geopolitical tensions [8] - The company raised its dividend by 28.6% to 36 cents per share in February 2025, with expected organic revenue growth in the low-double-digit range for 2025 [9] - GE Aerospace has an expected revenue growth rate of -6.8% and an earnings growth rate of 19.6% for the current year [9] Howmet Aerospace Inc. - Howmet Aerospace is benefiting from robust momentum in the commercial aerospace market and strength in its defense business due to rising defense budgets [10] - The company has a strong liquidity position and expects revenue and earnings growth rates of 8.5% and 28.6%, respectively, for the current year [11] Leidos Holdings Inc. - Leidos Holdings reported strong earnings and revenue growth, with increased contract wins from the Pentagon leading to a solid backlog of $46.30 billion [12][14] - The company is well-positioned to contribute to the development of a next-generation missile defense shield, with expected revenue and earnings growth rates of 2.7% and 4.3%, respectively, for the current year [14] Huntington Ingalls Industries Inc. - Huntington Ingalls is a leading U.S. shipbuilder with a solid order backlog, driven by strong demand for its nuclear-powered aircraft carriers and submarines [15][16] - The company expects revenue and earnings growth rates of 3.3% and 2.5%, respectively, for the current year [17] Vertical Aerospace Ltd. - Vertical Aerospace is focused on designing and manufacturing zero-emission electric vertical takeoff and landing (eVTOL) aircraft, with significant growth potential in the advanced air mobility market [18] - The company has an expected revenue growth rate of 1% and an earnings growth rate of over 100% for the current year [19]
How Much Upside is Left in Vertical Aerospace (EVTL)? Wall Street Analysts Think 81.02%
ZACKS· 2025-05-16 15:01
Group 1 - Vertical Aerospace Ltd. (EVTL) shares have increased by 64.9% over the past four weeks, closing at $5.69, with a mean price target of $10.30 indicating a potential upside of 81% [1] - The average price targets range from a low of $2 to a high of $15, with a standard deviation of $5.14, suggesting variability in analyst estimates [2] - Analysts have shown a strong agreement in revising earnings estimates higher, which correlates with potential stock price increases [4][11] Group 2 - The Zacks Consensus Estimate for the current year has risen by 4.9% over the past month, indicating positive sentiment among analysts [12] - EVTL holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [13] - While consensus price targets may not be reliable for predicting exact stock gains, they can provide guidance on the direction of price movement [13]
Vertical Aerospace .(EVTL) - 2025 Q1 - Earnings Call Transcript
2025-05-13 13:32
Financial Data and Key Metrics Changes - Net cash used in operating activities for Q1 2025 was approximately $30 million, with guidance for the year unchanged at approximately $110 to $125 million [42][48] - The company closed the quarter with approximately $90 million in cash and cash equivalents [43] Business Line Data and Key Metrics Changes - The hybrid aircraft program represents a significant market opportunity, with a range of over 1,000 miles, targeting defense and commercial operations [6][22] - The battery systems are expected to generate a 50/50 revenue split between aircraft and battery sales by the 2030s, with a gross margin of over 40% for batteries [23][80] Market Data and Key Metrics Changes - The company is positioned to serve the full global market by certifying to the highest aviation standards, with ongoing discussions for certification in the US, Middle East, and Asia [87][88] - The hybrid aircraft's capabilities are expected to open up new opportunities in regional air mobility, with a payload capability of over 1,100 kilograms [70] Company Strategy and Development Direction - The company launched its Flight Path 2030 business strategy, aiming to lead the eVTOL sector by the end of the decade with a clear roadmap and certification timetable [7][8] - Partnerships with Honeywell for flight controls and aircraft management systems are expected to enhance production efficiency and safety [19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving certification goals by 2028, with significant progress in flight testing and regulatory approvals [41][44] - The company emphasized the importance of safety and compliance with rigorous certification standards, which are seen as critical to market acceptance [86][99] Other Important Information - The company announced the addition of three new directors to strengthen governance and strategic leadership [21] - The hybrid powertrain will be integrated into the existing airframe, with flight testing planned for Q2 2026 [60] Q&A Session Summary Question: Impact on cash spend and cash burn due to hybrid announcement - Management indicated that the development of the hybrid powertrain was already included in previous cash spend projections, with no change to guidance for the year [47][48] Question: Certification requirements for hybrid VTOL - The hybrid product will be certified as a separate aircraft, likely around the same time as the electric VX4, with a full-scale piloted hybrid aircraft expected to fly in Q2 next year [52][53] Question: Integration of hybrid powertrain into existing airframes - The hybrid powertrain will be integrated into an existing airframe currently under construction, with initial flights as an all-electric aircraft [59][60] Question: Expectations for wing-borne testing - Wing-borne testing is expected to begin in Q2 2025, marking a significant milestone for the company [68] Question: Commercial opportunities with hybrid propulsion - The hybrid aircraft is expected to expand capabilities into regional air mobility, with potential interest from airlines for short regional flights [70] Question: Battery business model and revenue generation timeline - The battery business is expected to follow a razor-razor blade model, with significant revenue from battery sales anticipated within a few years after launch [80][81]
Vertical Aerospace .(EVTL) - 2025 Q1 - Earnings Call Transcript
2025-05-13 13:30
Financial Data and Key Metrics Changes - Net cash used in operating activities for Q1 2025 was approximately $30 million, with guidance for the year unchanged at approximately $110 million to $125 million [43][50] - The company closed the quarter with approximately $90 million in cash and cash equivalents [44] Business Line Data and Key Metrics Changes - The hybrid aircraft program was announced, which has a range of over a thousand miles and opens up additional market opportunities in defense and commercial operations [6][22] - The battery systems are expected to generate a 50/50 revenue split with aircraft sales by the 2030s, with a gross margin of over 40% for batteries [23][80] Market Data and Key Metrics Changes - The company is positioned to serve the full global market by certifying to the highest aviation standards, with ongoing discussions for potential customers in various sectors [7][89] - The hybrid powertrain will allow for expansion into regional air mobility, with capabilities for airlines to use the aircraft for short regional flights [70] Company Strategy and Development Direction - The company launched its Flight Path 2030 business strategy, aiming to lead the eVTOL sector by the end of the decade with a clear roadmap and certification timetable [7][8] - Partnerships with Honeywell have been formalized to enhance flight controls and aircraft management systems, valued at approximately $1 billion over the next ten years [17][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving certification goals by 2028 and highlighted the importance of safety in their aircraft design [85][99] - The company is excited about the upcoming piloted wing-borne flight tests, which are expected to begin in Q2 2025, marking a significant milestone [68][107] Other Important Information - The company has appointed three new directors to strengthen governance and strategic leadership [21] - The hybrid aircraft will be integrated into existing airframes, with testing planned for Q2 2026 [60][61] Q&A Session Summary Question: What is the impact on cash spend and cash burn going forward given the hybrid announcement? - Management stated that the development of the hybrid powertrain was already included in previous cash spend guidance, with no changes to the projected cash spend for the year [49][50] Question: Is the hybrid product a supplemental type certification or a new certification with EASA? - The hybrid product will be certified as a separate aircraft, likely around the same time as the electric VX4, with a full-scale piloted hybrid aircraft expected to fly in Q2 next year [52][53] Question: Will the hybrid powertrain be integrated into existing airframes for testing? - The hybrid will be integrated into an existing airframe that is currently under construction, with plans to retrofit the hybrid powertrain after initial all-electric flights [60][61] Question: How does the introduction of a hybrid electric propulsion system expand capabilities? - The hybrid aircraft will have a range of over a thousand miles and a payload capability of over 1,100 kilograms, allowing for expanded opportunities in defense and regional air mobility [70][71] Question: What is the business model for the battery systems? - The battery business is expected to follow a razor-razor blade model, with significant margins and recurring revenue from battery sales alongside airframe sales [80][81]
Vertical Aerospace .(EVTL) - 2025 Q1 - Earnings Call Presentation
2025-05-13 11:46
Financial Performance & Outlook - Vertical Aerospace reported cash and cash equivalents of £69 million (approximately $90 million) as of March 31, 2025, following a January 2025 raise of £74 million (approximately $90 million) in gross proceeds, compared to £23 million (approximately $28 million) in FY 2024 [65] - The company experienced a non-cash P&L finance credit of £396 million due to convertible loan notes revaluation, with the valuation decreasing from £524 million at a share price of $12.58 on December 31, 2024, to £122 million at a share price of $3.36 on March 31, 2025 [66] - Vertical Aerospace is fully funded through 2025, demonstrating industry-leading capital efficiency [65] Operational Milestones & Progress - Vertical Aerospace is progressing with its 2025 piloted prototype flight test campaign, serving as a mini-certification process [20] - The company has defined operational milestones for 2025 and beyond, including flying full-scale piloted transition and wingborne flights, building and flying a third full-scale VX4 prototype, and initiating long-range parts purchasing [22, 23, 24] - Vertical Aerospace aims to achieve a manufacturing run-rate of over 200 units per annum, moving towards a 40% gross margin as production scales, and targeting zero accidents [16] Strategic Partnerships & Technology - Vertical Aerospace and Honeywell expanded their partnership, with a projected contract value of $1 billion over the next decade [30] - Honeywell's Anthem Integrated Flight Deck will be integrated into the VX4, promoting safer and more connected operations [30] - Vertical Aerospace is developing proprietary battery technology with a dedicated Vertical Energy Center spanning 15,000 sq ft and employing approximately 50 aviation battery engineers [50] Future Opportunities - Vertical Aerospace is exploring hybrid propulsion platforms for defense applications, potentially enabling a range of 1,000+ miles with a 500kg to 1,100kg payload [48] - The company anticipates a long-term revenue mix of approximately 50/50 between aircraft and battery sales [49]
Vertical Aerospace Unfairly Undervalued, Says Bullish Analyst
Benzinga· 2025-03-27 19:17
Group 1 - The core viewpoint is that Vertical Aerospace Ltd. (EVTL) is positioned as a leading player in the competitive eVTOL aircraft market, with a Buy rating and a price forecast of $15 by D. Boral Capital analyst Jesse Sobelson [1] - EVTL has secured strategic investments and provided an updated long-term roadmap, which enhances its financial stability compared to some European competitors [2] - The company's proactive collaboration with regulators and advanced certification process positions it well to achieve key milestones in its Flightpath 2030 strategy [2] Group 2 - EVTL's strategic partnerships with major companies like Honeywell, Leonardo, and GKN Aerospace, along with a strong IP portfolio, bolster its market position [3] - The projected total addressable market for the eVTOL sector is estimated at $1 trillion by 2040, indicating significant growth potential for EVTL [3] - The analyst estimates earnings per share (EPS) of £(1.24) for 2025 and £(1.07) for 2026, reflecting the company's financial outlook [3] Group 3 - EVTL shares experienced a slight increase of 0.71%, trading at $3.656 [4]
Vertical Aerospace .(EVTL) - 2024 Q4 - Earnings Call Transcript
2025-03-11 12:30
Financial Data and Key Metrics Changes - The net cash used in operating activities for the year was approximately $100 million, with an expected increase to between $110 million and $125 million in 2025 [42][43] - A significant non-cash financing cost of £688 million was reported due to the restructuring of convertible loan notes, which is highly volatile and driven by stock price calculations [42][43] Business Line Data and Key Metrics Changes - The company is focused on developing a best-in-class aircraft with a target for certification in 2028, emphasizing safety and capacity for both passengers and luggage [14][43] - The business model includes battery as a service, which is expected to provide high margins and predictable long-term revenue [20][43] Market Data and Key Metrics Changes - The company has a diverse customer base with a third of orders from The Americas, a third from Europe, and a third from Asia, reducing regional concentration risk [108] - The collaboration with the CAA and EASA is expected to streamline the certification process, allowing for concurrent sales in multiple markets [50][112] Company Strategy and Development Direction - The company has relaunched its strategy, Flight Path 02/1930, aiming to lead the sector by the end of the decade with clear operational goals [6][23] - The focus is on maintaining capital efficiency while ramping up spending towards certification, with a commitment to spend significantly less than competitors [22][43] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the certification timeline due to clear and transparent regulations, which are expected to result in a safer product than competitors [48][49] - The company anticipates a gradual ramp-up in spending as it approaches certification, with a focus on derisking the timeline [70][72] Other Important Information - The company has secured funding through 2025, including £220 million from refinancing activities and $90 million from existing investors [23][24] - A new majority owner, Mudrick Capital, has been established, bringing additional industry experience to the company [24] Q&A Session Summary Question: What is the path to certification and confidence in timelines? - The company is working under SCVTOL regulations with a clear plan, aiming for certification in 2028, which is supported by a collaboration agreement with EASA [47][50] Question: What are the funding needs to get to certification? - The company is fully funded for 2025 and expects to be the most efficient in terms of spending towards certification [51][52] Question: Can you discuss the timing of spending increases? - Spending is expected to ramp up to between $110 million and $125 million, with a focus on derisking the certification timeline [56][57] Question: How does the company address concerns about downwash and outwash? - The company acknowledges industry concerns but is not overly worried, citing real-world experience with their full-scale aircraft [60][62] Question: What is the geographic concentration of the order book? - The order book is evenly distributed across The Americas, Europe, and Asia, reducing regional risk [108] Question: Will the company sell to high net worth individuals post-certification? - Yes, the company plans to sell to high net worth individuals once certification is achieved, with no additional regulatory hurdles [81][103]
Vertical Aerospace .(EVTL) - 2024 Q4 - Annual Report
2025-03-11 10:34
[Executive Summary & 2024 Highlights](index=1&type=section&id=Executive%20Summary%20%26%202024%20Highlights) [Company Overview and 2024 Highlights](index=1&type=section&id=Company%20Overview%20and%202024%20Highlights) Vertical Aerospace achieved significant progress in 2024, launching its Flightpath 2030 strategy, advancing piloted flight testing, and strengthening its financial position, positioning itself as a leading eVTOL company in Europe - 2024 was a year of major progress for Vertical, launching our Flightpath 2030 strategy, advancing piloted flight testing, and strengthening our financial position[5](index=5&type=chunk) - With our latest prototype surpassing performance expectations and key regulatory milestones bringing us closer to certification, we are reinforcing our position as Europe's leading eVTOL company[5](index=5&type=chunk) [Business Strategy & Funding](index=1&type=section&id=Business%20Strategy%20%26%20Funding) [Refinancing and Capital Structure](index=1&type=section&id=Refinancing%20and%20Capital%20Structure) Vertical Aerospace secured $220 million in refinancing, including a balance sheet restructure where $130 million of debt was converted to equity, and an upsized $90 million public offering, providing funding through 2025 | Funding Activity | Amount | Details | | :--------------- | :----- | :------ | | Total Refinancing | $220M | Secured, funding operations through 2025 | | Debt Conversion | $130M | Debt converted to equity through an investment agreement with Mudrick Capital | | Public Offering | $90M | Upsized raise, including over $60M from new investors and $25M from Mudrick Capital | [Strategic Initiatives & Leadership](index=1&type=section&id=Strategic%20Initiatives%20%26%20Leadership) The company launched its "Flightpath 2030" strategy to achieve certification, production, and market leadership by 2030, and strengthened its leadership team with key appointments to enhance regulatory expertise - Flightpath 2030 launched - a clear strategy for achieving certification, production, and financial milestones to secure market leadership by 2030[8](index=8&type=chunk) - Leadership strengthened - Dómhnal Slattery re-appointed as Chair and Eamonn Brennan, former Director General of Eurocontrol, appointed Board Adviser to enhance regulatory expertise[8](index=8&type=chunk) [Product Development & Flight Testing](index=2&type=section&id=Product%20Development%20%26%20Flight%20Testing) [Full-scale Prototype Development](index=2&type=section&id=Full-scale%20prototype%20development) Vertical Aerospace is assembling its third full-scale VX4 prototype at GKN Aerospace's Global Technology Centre, with two full-scale piloted assets enabling extensive flight testing and data collection to inform the certification aircraft - Third full-scale VX4 prototype assembly underway at partner GKN Aerospace's Global Technology Centre[7](index=7&type=chunk) - Second, full-scale prototype complete, with assembly of the third and final prototype now underway at GKN Aerospace's Global Technology Centre[13](index=13&type=chunk) - Two full-scale piloted assets enables more flight tests and learnings which will shape the certification aircraft, the next aircraft Vertical builds[13](index=13&type=chunk) [Piloted Flight Testing Achievements](index=2&type=section&id=Piloted%20flight%20testing) The second full-scale VX4 prototype completed over 30 piloted thrustborne test flights by February 2025, capturing 5 million data points and demonstrating successful hover and low-speed maneuvers, exceeding performance expectations. The company is now preparing for piloted wingborne flight - Second full-scale VX4 prototype began flight tests in July 2024, completing piloted thrustborne testing in February 2025, making it only the second company in the world to achieve this with a full-scale vectored thrust eVTOL[14](index=14&type=chunk) - Over 30 piloted test flights completed, capturing 5 million data points across 35,000 parameters to validate engineering models and system performance[14](index=14&type=chunk) - Successful hover and low-speed manoeuvres executed, including roll, yaw, and spot-turns, with the aircraft exceeding expectations for reliability, stability, and performance[14](index=14&type=chunk) - Vertical is preparing for piloted wingborne flight, which it believes will be a world first for this type of electric aircraft[14](index=14&type=chunk) [Certification & Financial Performance](index=3&type=section&id=Certification%20%26%20Financial%20Performance) [Certification Progress](index=3&type=section&id=Certification) In July 2024, the UK Civil Aviation Authority (CAA) expanded Vertical's Design Organisation Approval (DOA) and agreed on certification cooperation with EASA. The next phase involves wingborne flight, a critical step towards certification and commercial viability - In July 2024, the UK Civil Aviation Authority (CAA) expanded the scope of Vertical's Design Organisation Approval (DOA), a pre-requisite for European Type Certification, and agreed certification co-operation with European Union Aviation Safety Agency (EASA)[18](index=18&type=chunk) - Next phase: wingborne flight, with CAA approval required to extend the Permit to Fly. This transition marks a key step toward certification and commercial viability as it will involve transitioning from a tightly controlled test environment to more dynamic, scalable operations[18](index=18&type=chunk) [Financial Position and Outlook](index=3&type=section&id=Cash%20and%20outlook) Vertical maintained industry-leading capital efficiency with FY 2024 net cash used in operating activities of £46 million ($58 million). As of December 31, 2024, cash and cash equivalents totaled £23 million ($28 million), increasing to £77 million ($99 million) post-public offering. FY 2025 net cash outflows from operating activities are projected to be between £90 million and £100 million ($110 million to $125 million) | Financial Metric | FY 2024 (GBP) | FY 2024 (USD) | As of Dec 31, 2024 (GBP) | As of Dec 31, 2024 (USD) | Post-Offering (GBP) | Post-Offering (USD) | FY 2025 Outlook (GBP) | FY 2025 Outlook (USD) | | :--------------- | :------------ | :------------ | :----------------------- | :----------------------- | :------------------ | :------------------ | :-------------------- | :-------------------- | | Net cash used in operating activities | £46M | $58M | N/A | N/A | N/A | N/A | N/A | N/A | | Cash & cash equivalents | N/A | N/A | £23M | $28M | £77M | $99M | N/A | N/A | | Net cash outflows from operating activities (forecast) | N/A | N/A | N/A | N/A | N/A | N/A | £90M - £100M | $110M - $125M | [Corporate Information & Disclosures](index=4&type=section&id=Corporate%20Information%20%26%20Disclosures) [FY24 Webcast Details](index=4&type=section&id=Joining%20the%20FY24%20Webcast) Vertical Aerospace will host a webcast on March 11, 2025, at 08:30 ET (12:30 GMT) to discuss the 2024 Annual Report. Access details for the live event and replay are provided - Vertical will host a webcast at 08:30 ET (12:30 GMT) today to discuss the 2024 Annual Report[3](index=3&type=chunk) - To access the webcast, visit Vertical's Investor Relations website: https://investor.vertical-aerospace. com/events-and-presentations/events/[19](index=19&type=chunk) - A replay of the webcast will be available on the company website following the event[21](index=21&type=chunk) [About Vertical Aerospace](index=4&type=section&id=About%20Vertical%20Aerospace) Vertical Aerospace is a global aerospace and technology company pioneering electric aviation with its VX4 eVTOL aircraft, designed for four passengers with zero operating emissions. The company partners with industry leaders and has approximately 1,500 pre-orders across four continents - Vertical Aerospace is a global aerospace and technology company pioneering electric aviation. Vertical is creating a safer, cleaner and quieter way to travel[22](index=22&type=chunk) - Vertical's VX4 is a piloted, four passenger, Electric Vertical Take-Off and Landing (eVTOL) aircraft, with zero operating emissions[22](index=22&type=chunk) - Vertical combines partnering with leading aerospace companies, including GKN Aerospace, Honeywell and Leonardo, with developing its own proprietary battery and propeller technology to develop the world's most advanced and safest eVTOL[22](index=22&type=chunk) - Vertical has c.1,500 pre-orders of the VX4, with customers across four continents, including American Airlines, Japan Airlines, GOL and Bristow[23](index=23&type=chunk) [Forward-Looking Statements](index=5&type=section&id=Forward-Looking%20Statements) This section contains standard forward-looking statements regarding future expectations, financial position, aircraft development, certification, commercialization, and capital raising. It highlights inherent risks and uncertainties that could cause actual results to differ materially from projections, including funding, certification timelines, production, and market conditions - This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that relate to our current expectations and views of future events[25](index=25&type=chunk) - Forward-looking statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitation: our potential inability to raise additional funds when we need or want them, or at all, to fund our operations; our potential inability to produce or launch aircraft in the volumes or timelines projected; the potential inability to obtain the necessary certifications for production and operation within any projected timeline, or at all; and all of the pre-orders received are conditional and may be terminated at any time[25](index=25&type=chunk)