EXCLUSIVE: This 'Pens Down' Moment Could Make Or Break Vertical Aerospace

Core Insights - Vertical Aerospace Ltd is approaching a critical milestone in mid-2026 that could determine its success in the eVTOL market [1] - The Critical Design Review (CDR) will mark the point where the VX4 design is finalized, and the construction of certification aircraft begins [2][3] Company Path Ahead - Following the CDR, Vertical plans to build seven aircraft specifically for certification and flight testing, adhering to EASA's SC-VTOL regulatory process [3] - The company emphasizes its prior collaboration with regulators, which has embedded engineering and oversight processes, reducing risks compared to competitors still in prototype stages [4] Financial Considerations - Vertical Aerospace will require an additional $700 million to complete certification by 2028, which is framed as a demonstration of capital discipline [5] - The company aims to reach breakeven by Q4 2029, with significant cash generation expected by 2030, indicating a need for investor patience [6] Market Sentiment - The company believes its timing is favorable, supported by insider buying and cleared founder selling, as the market anticipates proof of progress in the coming year [6]