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ACHR

Archer Aviation Inc.

ACHR

Archer Aviation Inc. • NYSE
$7.79 ▲ 4.01% (+0.30)
Market Cap $5.07 B
52w High $14.62
52w Low $5.48
Dividend Yield 0%
P/E -6.66
Volume 23.39M
Outstanding Shares 651.31M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $174.8M ▲ $-129.9M ▲ 0% $-0.2 ▲ $-124.7M ▲
Q2-2025 $0 $171.3M ▲ $-206M ▼ 0% $-0.36 ▼ $-201.1M ▼
Q1-2025 $0 $144M ▲ $-93.4M ▲ 0% $-0.17 ▲ $-139.9M ▼
Q4-2024 $0 $124.2M ▲ $-198.1M ▼ 0% $-0.46 ▼ $-120.7M ▼
Q3-2024 $0 $122.1M $-115.3M 0% $-0.29 $-118.8M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.641B ▼ $1.9B ▼ $245.3M ▼ $1.654B ▼
Q2-2025 $1.724B ▲ $1.938B ▲ $257.4M ▲ $1.681B ▲
Q1-2025 $1.03B ▲ $1.215B ▲ $203.3M ▼ $1.011B ▲
Q4-2024 $834.5M ▲ $1.001B ▲ $248.6M ▲ $752.6M ▲
Q3-2024 $501.7M $651.5M $183.8M $467.7M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-129.9M ▲ $-105.6M ▼ $-1.069B ▼ $46.4M ▼ $-1.128B ▼ $-126M ▼
Q2-2025 $-206M ▼ $-103.4M ▼ $-24.1M ▼ $821.1M ▲ $693.6M ▲ $-122.3M ▼
Q1-2025 $-93.4M ▲ $-94.6M ▲ $-10M ▲ $300.2M ▼ $195.6M ▼ $-104.6M ▲
Q4-2024 $-198.1M ▼ $-104.4M ▼ $-24.2M ▼ $461.5M ▲ $332.9M ▲ $-128.6M ▼
Q3-2024 $-115.3M $-97.2M $-19.6M $258.1M $141.3M $-116.8M

Five-Year Company Overview

Income Statement

Income Statement Archer is still a pre‑revenue company. The income statement is entirely driven by research, engineering, and overhead costs, with no commercial sales yet. Losses have been consistent and fairly large for several years, reflecting heavy investment in aircraft development, certification, and infrastructure. The trend shows spending stepping up over time, which is normal for a hardware and aviation program moving toward commercialization, but it also means the path to break-even is still ahead and depends on successful certification and ramp-up of operations and aircraft sales.

Balance Sheet

Balance Sheet The balance sheet shows a company that is capital-heavy but still in build-out mode. Cash makes up the bulk of its assets, with only modest physical assets so far, which is typical before full-scale manufacturing begins. Debt is present but relatively small compared with total capital, so the business is still mainly equity-funded. Shareholders’ equity is positive, indicating that past capital raises have more than offset accumulated losses. The key question for the balance sheet is how long the current cash can support ongoing development and build-out before additional funding is needed.

Cash Flow

Cash Flow Cash flows highlight that Archer is a cash-consuming, not cash-generating, business at this stage. Operating cash outflows have grown as the company ramps engineering, testing, and certification work. Free cash flow is also clearly negative, with additional spending on facilities and equipment starting to show up but still modest compared with operating costs. Practically, this means Archer is dependent on external financing—equity, strategic partners, or debt—to fund operations until its aircraft and services begin to generate meaningful revenue.

Competitive Edge

Competitive Edge Archer occupies a leading spot in the early-stage urban air mobility space but in a very crowded and uncertain race. Its main strengths are strong strategic partners and early commercial traction signals: an industrial manufacturing alliance with Stellantis, a large framework order and partnership with United Airlines, and relationships with the U.S. Department of Defense and Anduril. These help with credibility, manufacturing scale, and potential demand. At the same time, the competitive field includes well-funded peers like Joby and others, and all players face the same big hurdles: regulatory approval, safety, reliability, and public acceptance. Archer’s more traditional supplier model may reduce some certification risk but can limit vertical control compared with some rivals. Overall, it has meaningful advantages but no guaranteed moat yet; the market is still wide open and execution-heavy.

Innovation and R&D

Innovation and R&D The company is clearly innovation-led. Most spending is going into designing, testing, and certifying its Midnight eVTOL aircraft and the associated powertrain. Archer’s focus on an urban, short-hop mission profile, fast turnaround, and low noise is its core product thesis. Technologically, it is betting on its proprietary electric powertrain and distributed, vectored thrust design. A notable development is turning that powertrain into a standalone product for partners like Anduril, which could create an additional technology-based revenue stream. The acquisition of a large patent portfolio from Lilium, plus its own work on AI, autonomy, and infrastructure (including owning an airport), underlines a long-term, platform-style vision rather than a single-aircraft bet. The flip side is that this level of R&D is expensive, time-consuming, and faces technical and regulatory uncertainty.

Summary

Archer is a classic high-risk, high-uncertainty, long-horizon aerospace development story. Financially, it is still in the pre-revenue, heavy-investment phase: persistent losses, negative cash flow, and reliance on external capital, but supported by a sizable cash reserve and limited debt. Strategically, it has assembled strong industrial, airline, defense, and technology partners, giving it credibility and a potential launchpad for both commercial air taxi services and powertrain sales. The main drivers from here are execution on certification, scaling manufacturing with Stellantis, converting tentative demand into actual operations, and managing funding needs along the way. Outcomes will likely be very sensitive to timing, regulatory progress, and the company’s ability to turn its technical lead and partnerships into a durable, profitable business model.

NEWS

November 19, 2025 · 6:00 AM UTC

PIF's The Helicopter Company, Archer Aviation, and Red Sea Global Partner to Launch eVTOL Air Mobility in Saudi Arabia

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November 17, 2025 · 6:00 PM UTC

Archer to Supply Its Proprietary Electric Powertrain to Third Parties, Starting with Anduril and EDGE Group for their Recently Announced Omen Autonomous Air Vehicle

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November 13, 2025 · 5:44 PM UTC

Archer's Midnight Showcases In-Country eVTOL Flight Test Campaign in UAE as Part of Its Commercial Launch Edition Program

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November 6, 2025 · 4:44 PM UTC

Archer To Acquire Los Angeles Airport As Strategic Air Taxi Network Hub and AI Testbed

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November 5, 2025 · 2:00 AM UTC

Tokyo Metropolitan Government Selects Japan Airlines Consortium to Join First Phase of “eVTOL Implementation Program” Featuring Archer's Midnight Aircraft

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