FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Neo Aeronautics, Inc. As filed with the Securities and Exchange Commission on December 19, 2025. Registration No. 333-[ ] UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Exact name of Registrant as specified in its charter) Delaware 3812 38-4330835 (I.R.S. Employer Identification Number) Techlink, 31 Kaki Bukit Rd 3 #03-01B Singapore, 417818 +65 8053 1488 (Address, including zip code, and telephone number, including ar ...

WASHINGTON--(BUSINESS WIRE)--Archer Aviation (NYSE: ACHR) today announced it has partnered with cities across the U.S. to submit multiple applications to launch initial air taxi operations under the White House's eVTOL Integration Pilot Program (eIPP). Established via President Trump's "Unleashing Drone Dominance†Executive Order, the eIPP is designed to accelerate adoption of electric air taxis in major cities across the country by creating operational pathways for the top American eVTOL companies. Archer's ...

Core Insights - EHang Holdings Limited reported its unaudited financial results for the third quarter of 2025, highlighting a decline in revenue and increased operating losses while maintaining its full-year revenue guidance of approximately RMB 500 million [1][4][38]. Financial Performance - Total revenues for Q3 2025 were RMB 92.5 million (US$ 13.0 million), down from RMB 128.1 million in Q3 2024 and RMB 147.2 million in Q2 2025, primarily due to decreased sales volume of EH216 series products [15][21]. - Gross profit was RMB 56.2 million (US$ 7.9 million), with a gross margin of 60.8%, compared to 61.2% in Q3 2024 and 62.6% in Q2 2025 [17]. - Operating loss increased to RMB 91.7 million (US$ 12.9 million) from RMB 54.7 million in Q3 2024 and RMB 78.1 million in Q2 2025 [19]. - Net loss was RMB 82.1 million (US$ 11.5 million), compared to RMB 48.1 million in Q3 2024 and RMB 81.0 million in Q2 2025 [21]. - Cash and cash equivalents, along with short-term investments, totaled RMB 1.13 billion (US$ 158.3 million) as of September 30, 2025 [24]. Business Developments - EHang launched the VT35, a next-generation long-range pilotless eVTOL model, which aims to expand its product portfolio into intercity air mobility [4][5]. - The company has made significant progress towards commercial operations in China and has initiated the Thailand AAM Sandbox Initiative, which is expected to pave the way for commercial operations overseas [4][8]. - EHang has expanded its global footprint with operations in Qatar, Japan, Kazakhstan, and Rwanda, enhancing its international presence [4][14]. Operational Readiness - EHang's certified operators have conducted over 1,700 safe operational flights and are preparing for commercial operations, with plans to roll out reservation-based eVTOL flight services [8]. - The internal beta version of the EHang Trip ticketing system is live, preparing for future public online ticketing services [8]. - EHang is collaborating with the Civil Aviation Authority of Thailand to launch the world's first commercial eVTOL operations through a regulatory sandbox approach [8]. Management Insights - The CEO of EHang expressed confidence in the company's progress across product development, operational readiness, and overseas expansion, emphasizing the importance of the VT35 and the Thailand initiative for future growth [12]. - The CFO noted the year-over-year decline in revenue but maintained the full-year revenue guidance based on anticipated client purchase plans [12]. Strategic Partnerships - EHang signed a Memorandum of Understanding with Allur Group in Kazakhstan to develop urban air mobility solutions and establish a UAM operation center [14]. - The company partnered with the Hefei government to establish a product hub for the VT35 series, receiving support valued at approximately RMB 500 million [5]. Future Outlook - EHang maintains its full-year revenue guidance of approximately RMB 500 million, based on expected market demand and readiness for commercial operations [38].

Core Insights - Abu Dhabi Airports has contracted BETA Technologies to deploy its Charge Cube and Battery Thermal Management System for an advanced air mobility ecosystem in Abu Dhabi [1] - The contract aligns with Abu Dhabi Airports' mandate to develop public infrastructure and operations for a network of vertiports across the emirate [1] Company Summary - BETA Technologies is a U.S. aerospace company involved in the deployment of advanced air mobility solutions [1] - The partnership with Abu Dhabi Airports signifies BETA's role in the growing AAM sector [1] Industry Summary - The advanced air mobility (AAM) ecosystem is being developed in Abu Dhabi, indicating a strategic push towards modern transportation solutions [1] - The establishment of vertiports is part of a broader initiative to enhance public infrastructure and commercial readiness in the region [1]

Core Insights - Abu Dhabi Airports has contracted BETA Technologies to deploy its certified charging infrastructure for an advanced air mobility ecosystem in the UAE [1][2][4] - The initial installations will occur at Al Bateen Executive Airport and Zayed International Airport, with plans for a network of up to 14 public vertiports [2][3] Company Overview - BETA Technologies is an aerospace company focused on electric aircraft and charging systems, with over 50 charging sites operational in the U.S. and Canada [5][9] - The company has raised $318 million in Series C equity capital to support its growth and commercialization efforts [9] Infrastructure Development - The charging system at Al Bateen Executive Airport is already commissioned, with Zayed International Airport to follow [3] - BETA will provide technical consulting, maintenance support, and training as part of the infrastructure deployment [2][4] Future Plans - The first regional eVTOL flights are expected to commence in 2026, marking a significant step in the development of the AAM ecosystem in the UAE [3] - The collaboration aims to create a safe and sustainable air taxi network, enhancing airport connectivity and promoting the adoption of electric aircraft [4]

Core Insights - EHang has successfully completed a series of trial air taxi flights using its EH216-S pilotless eVTOL aircraft in Doha, Qatar, marking a significant milestone in Advanced Air Mobility (AAM) in the Middle East [1][5][12] - The trial flights demonstrated the potential for Urban Air Mobility (UAM) by transforming a 30-minute car journey into an 8-minute flight, showcasing a model for intermodal connectivity [2][5] - The initiative aligns with Qatar's National Vision 2030, emphasizing smart and sustainable mobility solutions [6][8] Company Developments - EHang's EH216-S is the first pilotless eVTOL aircraft to conduct point-to-point flights in an urban environment in the Middle East, indicating the aircraft's technical maturity and operational readiness [5][12] - The successful trials are expected to provide valuable references for civil aviation regulators globally, enhancing confidence among operators and accelerating the commercialization of EHang's eVTOLs [5][15] - EHang aims to establish a strategic alliance with Qatar's Ministry of Transport to further develop and deploy AAM solutions, focusing on infrastructure readiness and safety standards [13][15] Industry Impact - The trial flights serve as a proof of concept for aerial shuttle services, linking key urban destinations and bypassing ground congestion [2][5] - The collaboration between EHang and Qatar's Ministry of Transport reflects a commitment to innovation and environmental sustainability in transportation [8][11] - The initiative is part of a broader strategy to create a smart, resilient transportation system in Qatar, integrating various modes of transport [11][12]

Financial Performance - Q3 2025 - Total revenues increased to $386 million from $376 million in Q2 2025[17], a rise of $9.9 million[18] - Adjusted EBITDA increased to $67 million from $61 million in Q2 2025[17], an increase of $6.4 million[18] - The company made $24.8 million in accelerated principal payments on the UKSAR Debt facility[16] Segment Performance - Offshore Energy Services revenues decreased by $2.4 million, from $253 million to $250 million[20, 21] - Government Services revenues increased by $8.4 million, from $93 million to $101 million[25, 27] - Other Services revenues increased by $3.8 million, from $31 million to $35 million[33, 36] Outlook for 2025 and 2026 - Total revenue is projected to be between $1455 million and $1525 million for 2025, and between $1580 million and $1690 million for 2026[38] - Adjusted EBITDA is projected to be between $240 million and $250 million for 2025, and between $295 million and $325 million for 2026[38] Balance Sheet and Capital Allocation - The company has $245.5 million of unrestricted cash and total liquidity of $313.4 million[41] - Net Debt is $441 million as of September 30, 2025[42] - The company plans to initiate a quarterly dividend program in Q1 2026, with an initial dividend of $0.125 per share ($0.50 annualized)[49]

Group 1 - GE Aerospace has entered into a partnership and equity investment agreement with BETA Technologies to advance hybrid electric aviation, pending regulatory approval [1][3] - BETA Technologies specializes in producing electric aircraft and propulsion systems, focusing on safe and cost-efficient operations across various markets [2] - The collaboration aims to develop a hybrid electric turbogenerator for Advanced Air Mobility (AAM) applications, leveraging GE's engine expertise and BETA's advanced technology [4][8] Group 2 - GE Aerospace plans to invest $300 million in BETA, which includes the right to appoint a director to BETA's board [5][8] - GE Aerospace is currently ranked 1 (Strong Buy) by Zacks, benefiting from a growing installed base and increased utilization of engine platforms [6] - Over the past six months, GE's shares have increased by 41.6%, outperforming the industry growth of 23.3% [7]

Core Insights - GE Aerospace is investing $300 million in Beta Technologies to develop a hybrid-electric turbogenerator for next-generation aircraft, pending regulatory approval [1][5] - The partnership aims to enhance the advanced air mobility (AAM) sector, focusing on hybrid solutions that combine traditional turbines with electric power to improve flight time and payload capacity [2][4] Company Collaboration - GE Aerospace, a leader in jet and turboprop engines, is collaborating with Beta Technologies, a startup specializing in electric aircraft, leveraging their complementary expertise [3] - The new turbogenerator will utilize GE's established infrastructure and components, while Beta will contribute its knowledge in high-performance electric propulsion [3] Performance and Certification - The hybrid system developed by GE and Beta is expected to offer improved range, payload capacity, and overall aircraft performance [4] - Beta is also working towards certification for its Alia aircraft, which includes both conventional and eVTOL variants, and if the deal is finalized, it will increase Beta's total funding to $1.45 billion [5] Strategic Implications - If the investment is approved, GE will have the right to appoint a director to Beta's board, indicating a serious commitment to hybrid-electric technologies [6]

Core Insights - Eve Air Mobility has signed a Letter of Intent with Aerosolutions and Bluenest by Globalvia for the sale of up to 50 eVTOL aircraft and access to TechCare services, marking a significant step in developing an Advanced Air Mobility ecosystem in Costa Rica [1][4] Group 1: Partnership and Collaboration - The collaboration aims to accelerate the introduction of safe, sustainable, and efficient air mobility in Costa Rica, particularly in the Pacific region, connecting airports to premium resorts and eco-destinations [2][3] - The partnership will focus on reducing travel times and congestion in key tourist regions like Guanacaste, enhancing Costa Rica's reputation as a leader in sustainable tourism [4][2] Group 2: Infrastructure Development - Bluenest by Globalvia will develop vertiport infrastructure to enable safe and efficient eVTOL operations, facilitating seamless intermodal connections between air and ground transport [3][5] - The partners will conduct workshops on vertiport development, airspace integration, pilot training, and operational planning to ensure successful AAM deployment [4][5] Group 3: Aircraft Technology - Eve's eVTOL aircraft features a lift+cruise configuration with eight propellers for vertical flight and fixed wings for cruising, ensuring high performance and safety [6] - The company is advancing its eVTOL development through comprehensive testing of the prototype to evaluate operational and safety features [6] Group 4: Company Background - Eve Air Mobility is focused on accelerating the Urban Air Mobility ecosystem, leveraging Embraer's aerospace expertise and offering a comprehensive support network [7] - Bluenest by Globalvia aims to be a key player in advanced air mobility infrastructure, connecting air routes with ground mobility [8]