Vertical Aerospace has provided its 2026 first quarter update.
In terms of its financial position the company reports it has strengthened its balance sheet with a financing package of up to USD850 million, providing access to a flexible suite of capital and aligned to support key technical and operational milestones and progress towards certification. The company says it ended the quarter with approximately USD96 million (UKP73 million) of cash and cash equivalents. Short-term liquidity includes cash of approximately USD103 million (UKP76 million) and anticipated near-term receipts from R&D tax reliefs (approximately USD23 million / UKP17 million) and government grants & VAT (approximately USD7 million / UKP6 million). Expected net cash outflows of between approximately USD180 million and USD200 million (UKP135 million to UKP145 million) are expected over the next 12 months, reflecting continued investment in public flight demonstrations and key certification activities.
“Short-term liquidity, together with anticipated draws under available facilities, expected to provide at least 12 months runway.”
“With the completion of transition flight and continued progress toward CDR, Vertical is entering a phase defined by disciplined execution against its certification roadmap. The Company’s third prototype aircraft is expected to commence flight testing shortly, supporting further validation and certification activities.”
In terms of technology milestones, the first three months of the year saw the company complete full envelope expansion prototype flight test campaign, becoming the first eVTOL to complete a two-way piloted transition – a critical technical milestone – under civil aviation Design Organisation Approval regulatory oversight and continues to be on track to complete Critical Design Review (CDR), establishing the certifiable design baseline and formalized partnership network
Stuart Simpson, CEO of Vertical Aerospace, said: “This quarter represents a clear inflection point for Vertical. The successful completion of two-way piloted transition flight demonstrates our aircraft’s performance in real-world conditions and validates the core architecture required for certification. With this milestone achieved, our focus now shifts to executing Critical Design Review and advancing toward certification. Combined with our recent financing, we believe we are well positioned to deliver against our roadmap and progress Valo toward commercialization.”
For more information
https://vertical-aerospace.com/wp-content/uploads/2026/05/20260605-Q1-Earnings-Call-Press-Release_v1.pdf