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ACHR-WT

Archer Aviation Inc. WT

ACHR-WT

Archer Aviation Inc. WT • NYSE
$1.47 ▲ 9.57% (+0.13)
Market Cap $3.44 B
52w High $3.06
52w Low $1.34
Dividend Yield 0%
P/E 0
Volume 58.03K
Outstanding Shares 2.34B

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 in the pre-revenue phase, so its income statement is dominated by research, engineering, and corporate costs rather than sales. Losses have been substantial each year as the company invests heavily in developing and certifying its eVTOL aircraft. The pattern is typical of an early-stage aerospace developer: no commercial revenue yet, high operating expenses, and net losses that reflect the long road to bringing a completely new aircraft to market.

Balance Sheet

Balance Sheet The balance sheet shows a business funded primarily by equity with relatively low use of debt. Cash makes up a large share of total assets, giving the company a financial cushion to keep funding development and testing. Shareholders’ equity is positive, which is a healthy sign, but it is being drawn down over time by ongoing losses. Overall, Archer still looks reasonably well-capitalized for a pre-revenue company, but it remains dependent on future access to capital as it scales up.

Cash Flow

Cash Flow Cash flow is clearly negative, driven by operating losses and growing spending on development and early production capabilities. Operating cash outflows have been rising as the company scales up testing, staff, and infrastructure. Capital spending, while smaller than operating outflows, is increasing as facilities and manufacturing capacity are built. The business is not yet generating self-sustaining cash and will likely need periodic capital raises until commercial operations and potential powertrain sales ramp up.

Competitive Edge

Competitive Edge Archer sits in a young but crowded eVTOL and urban air mobility field. Its edge comes from strong strategic partners—such as major automakers, airlines, and defense-related firms—and early access to high-profile launch opportunities like the LA market and Middle East initiatives. Regulatory progress with the FAA and international authorities is another important advantage, though still unfinished. At the same time, the competitive moat is not yet secure: rival eVTOL players, long certification timelines, and policy uncertainty all limit how durable its lead may be.

Innovation and R&D

Innovation and R&D The company is highly innovation-driven, with most spending going into R&D. Its Midnight aircraft, proprietary electric powertrain, and focus on noise reduction and safety redundancies are core differentiators. Partnering with a large automaker for scalable production and beginning to sell its powertrain technology to third parties show a push to turn R&D into multiple potential revenue streams. The upside from this innovation is significant, but it is tied to successful certification, manufacturing ramp-up, and proving that the aircraft and services can operate reliably at scale.

Summary

Archer is a classic high-investment, pre-revenue aerospace developer: cash-rich relative to its size, low on debt, and burning cash to chase a large but uncertain opportunity in urban air mobility. Its financials today are shaped entirely by development and preparation rather than sales or profits. Technologically, it appears well-positioned with a differentiated aircraft, proprietary powertrain, and strong partners across airlines, autos, and defense. The main swing factors are execution and timing—FAA certification, factory ramp-up, commercial launches, and continued access to funding. For ACHR-WT specifically, it is important to remember this is a warrant tied to the common stock, so its value is especially sensitive to both the company’s long-term success and future equity issuance or dilution, rather than to near-term earnings.