A Look Back And A Glimpse Ahead

Aircraft & Technology

In November, we successfully completed the build of our pre-production Laila aircraft. This was not the finish line, but rather a foundational milestone in a much longer journey. Early on, we decided to make a non-obvious bet on our approach to developing aircraft. It involved bringing a UAV to market ahead of our planned regional crewed aircraft.

Working in collaboration with our early customers, we identified numerous use cases that could be served by our UAV design. Offshore logistics, long-range pipeline inspection, and remote medical delivery were just a few of the immediate opportunities. To target these opportunities Laila would utilize a hybrid-electric propulsion system to deliver up to 450 miles of range and 130 pounds of payload. With the pre-production build now complete, we’re moving forward with proving out the capabilities of this platform. Ground testing is ongoing, with completion of the flight test envelope by the end of Q1.

In addition to building out our aircraft, our team has been progressing the development of our hybrid propulsion systems. Our most recent system, rated at 100 kW, will power production Laila aircraft. This unit is a scaled-down version of our 1 MW rated system, which was completed earlier this year. Our 1 MW system will not only one day power Alta, our nine-passenger crewed aircraft, it’s also well suited for non-aircraft solutions as a standalone turbogenerator. As a result, we’re actively in negotiations to supply our hybrid systems and components to customers in other segments. Our high speed generators have been identified by small modular reactor (SMR) manufacturers as solving a key need for their own powertrain. Additionally, multiple defense agencies have expressed interest in our turbogenerators for ground power and under-wing power applications.

Customers & Partnerships

In 2025, we signed a contract for the delivery of multiple 350 kW prototype generators to a customer outside of the aerospace industry. Follow-on purchases are expected after the successful delivery of these initial units.

In addition to demand for our existing generator technology, we also continued to receive interest in our upcoming aircraft. By the close of 2025, our books totalled $11B in non-binding orders for aircraft. In September, Fiji Airways became one of the latest customers to identify the benefits that Laila could provide. Laila’s industry-leading range and payload will help connect Fiji’s 330 islands and allow Fiji Airways to expand its commercial landscape and open up contracts with logistics and government agencies to support NGO operations across the region. With this agreement, Fiji Airways joins numerous other Odys customers across airlines, energy, and cargo industries, including JSX, Silverhawk, Aramex, Mintair, and more.

In July, we announced a partnership with Honeywell to collaborate on the design of new Ground Control Stations. Honeywell’s Ground Control Station technology supports our path to regulatory compliance, enables beyond-visual-line-of-sight operations, and allows dynamic flight plan adjustments. Together with the advancement of our in-house flight automation software, this collaboration opened the door for real-world validation of Laila’s capabilities in remote environments.

To prove out these capabilities for customers and partners alike, we developed the Operational Launch Program (OLP). In September we announced that Oman was chosen to be one of the sites of our OLP and will include over 30 partners and customers. This program will validate end-to-end Laila operations across multiple high-value use cases including oil and gas pipeline inspections, civil defense applications, emergency medical logistics, national defense and infrastructure, long-range inspection, cargo movements and just-in-time supply chain support. By leveraging Oman’s progressive regulatory framework and commitment to innovation under the JARUS/SORA framework, the OLP will serve as one of the world’s most comprehensive blueprints for the rollout of AAM infrastructure, policy and operations at scale.

Proving Laila’s capabilities for defense missions is another essential aspect of the Oman OLP. In preparation, we’ve engaged with the Oman Ministry of Defense to explore operational use cases, as well as opportunities for long-term regional capability alignment.

Back home in the US, we secured three Phase II Small Business Innovation Research (SBIR) contracts from the US Department of Defense (DoD), each focused on core Laila capabilities. The Navy identified the numerous strategic benefits offered by Laila’s ability to reliably conduct shipboard takeoffs and landings. Our standalone turbogenerator capabilities were recognized by the US Army with continued support, signaling interest in next-generation power architectures that improve endurance, reliability, and mission flexibility for future unmanned systems. To support both R&D acceleration and operational sustainment for future deployments, the US Air Force is supporting Odys’ advanced digital engineering and predictive capabilities for Laila. In total, we’ve been awarded $11M across 14 contracts with the DoD.

Interest in Laila’s capabilities also led to our aircraft being chosen to be a key participant in the US Army’s Arcane Thunder operational validation exercise, scheduled for April. This event will be one of the most rigorous evaluations of Laila’s capabilities across a range of mission profiles. Successful participation could potentially open the door for additional work with the US Army, as well as aircraft orders from the US DoD and allied defense agencies.

Company Growth

The increasing demand over the past year, realization of additional revenue streams, and progress towards customer deliveries of Laila have kept our team busy. To help support this growth, we increased our engineering team by 50% and brought on experienced leaders from new verticals.

Andy Apple joined as VP of Strategy, helping to shape our future roadmap. He began his career at JPMorgan with a focus on transformative technology and throughout his career accelerated high-growth ventures with expertise in finance, venture capital, and startups.

In preparation for our commercial operations this year, Oliver Reinhardt joined us from Volocopter as Head of Design Organization. His three decades of experience includes nine aircraft certification projects and extensive international validations, as well as the setup of multiple EASA-approved Design Organizations. While at Volocopter, he achieved Design Org Approval in less than 24 months, an industry record. He has also led the implementation of Safety Management Systems (ICAO SMS) and Quality Management Systems across multiple sectors.

Supporting the further validation and adoption of our hybrid-electric platform and aircraft, we also added new roles for flight testing and business development. Scott Raetzman was appointed as Head of Flight Test, tasked with successfully leading Laila’s US flight testing and establishing the flight campaign for the OLP. Prior to Odys, he led flight test programs at Virgin Galactic, General Atomics, and Northrop Grumman. On the defense side, Jordan Goers was appointed as Director, Defense Business Development, instrumental to leading our existing and future collaborations with US agencies and the nation’s allies. His prior experience includes over two decades of US Army Special operations experience, shaping combat aviation integration.

Looking To The Future

In October we announced the closing of our $26M Series A funding round, led by Nova Threshold. This capital marked a critical inflection point and our focus is now on scaling operations to deliver aircraft to customers later this year. These deliveries will position Odys to become the first AAM company in our class to realize revenue from aircraft deliveries.

In addition to Oman, our OLP will be deployed in other markets, including Europe and the US. These additional programs will allow for further use-case validation in differentiated environments, for our growing global customer base. Production will be expanded to support these programs, in addition to the initial deliveries of Laila aircraft to our customers.

By the close of this year, our development focus will shift beyond Laila to Alta. Up to 750 miles of range and a 2,500 pound payload capacity, this will be the evolution of our platform and technology. Alta will transform regional travel, connecting communities like never before.

The orders, the partnerships, the products - we produced more than milestones in 2025. We solidified a legacy. This moment demands the next great aerospace engineering leader. And this year, our achievements will leave no question.