The VX4 has garnered 1,500 pre-orders totaling $6 billion from notable companies such as Virgin Atlantic, American Airlines, and Japan Airlines.
Phase one testing involved a series of piloted tethered flights and ground runs, achieving a total of 70 test points necessary to confirm the prototype's safety in real-world flight conditions.
The company is now gearing up for phase two testing, which will include vertical take-offs and landings, as well as low-speed flight maneuvers utilizing lift from the propellers.
Founded in 2016, Vertical is working on a piloted electric vertical take-off and landing (eVTOL) aircraft designed to carry four passengers.
According to a Bloomberg report earlier this month, the company's founder, Stephen Fitzpatrick, failed to meet a previously established deadline to provide a portion of the promised funding to the eVTOL manufacturer.
The report further indicated that without additional financial support, Vertical could face cash shortages by March 2025.
In a statement to Reuters, Vertical confirmed, "Vertical remains in ongoing discussions with Stephen. Stephen remains fully supportive of the Company."
In the first half of the year, Vertical secured funding, including additional investments from Rolls-Royce, which increased its unaudited cash reserves to $84 million as of June 30.