Research and development spending accounted for the bulk of the shift, dropping to $28.9 million from $45.7 million in the previous year. This reduction occurred even as the company maintained its core development activities, including engineering work performed under its Master Service Agreement with Embraer. While the company continues to invest in testing infrastructure and eVTOL design, the focus remains on controlling burn rates while moving toward commercialization.

Operational stability characterized the quarter, with selling and administrative costs holding steady at $8.3 million. Despite a stronger Brazilian Real, personnel and outsourced expenses fell by approximately 5% due to improved efficiencies. With $403.3 million in cash and short-term investments, and total liquidity reaching $531.3 million, management asserts the current funding is sufficient to sustain program development through 2028. The company expects total cash consumption for the full year to hit the mid-range of its $250 million guidance.