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.”

Recent Highlights

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 efficiency²; 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.

Joining the Q1 Webcast

Vertical will host a webcast at 08:30 am ET (13:30 BST) today to discuss the first quarter’s results. The call will be hosted by Stuart Simpson, Vertical’s CEO and he will be joined by Dr Limhi Somerville, Vertical’s Director of Engineering, who will talk through progress in Q1, Vertical’s battery development programme and hybrid-electric capabilities.

To access the webcast, visit Vertical’s Investor Relations website

A replay of the webcast will be available on the company website following the event.

About Vertical Aerospace

Vertical Aerospace is a global aerospace and technology company pioneering electric aviation. Vertical is creating a safer, cleaner and quieter way to travel. Vertical’s VX4 is a piloted, four passenger, Electric Vertical Take-Off and Landing (eVTOL) aircraft, with zero operating emissions. Vertical combines partnering with leading aerospace companies, including GKN, Honeywell and Leonardo, with developing its own proprietary battery and propeller technology to develop the world’s most advanced and safest eVTOL.

Vertical has c.1,500 pre-orders of the VX4, with customers across four continents, including American Airlines, Japan Airlines, GOL and Bristow. Certain customer obligations are expected to be fulfilled via third-party agreements. Headquartered in Bristol, the epicentre of the UK’s aerospace industry, Vertical’s experienced leadership team comes from top tier automotive and aerospace companies such as Rolls-Royce, Airbus, GM and Leonardo. Together they have previously certified and supported over 30 different civil and military aircraft and propulsion systems.