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What does it mean that the software version number is less than 1.0 and in beta?

beta mean Software version
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What does it mean that the software version number is less than 1.0 and in beta?

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It means that the software is currently lacking some of the functionality that it will have in a 1.0 release, and that while the software has been extensively tested in our labs, it saw limited testing in the real world by real users. Therefore it may prove less stable than more mature software that is already in production state. Please help us by reporting any technical or functional issues you encounter and we will do our very best to have these issues quickly resolved.

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