Vertical Aerospace announces third quarter 2022 Financial Results

Vertical Aerospace reported a net operating loss of £19 million for the three months ended September 30, 2022, compared to a net operating loss of £8 million for the three months ended September 30, 2021. As of September 30, 2022, Vertical had cash at bank and short-term deposits totalling £145 million, which will be invested in the development of the company’s test and certification activities and in the people, systems and processes that support the company. In August 2022, to support ongoing capital requirements, Vertical established an equity subscription line with Nomura, which will allow Vertical to issue up to