Archer Aviation Inc

Latest Results (22.11.2025):

Archer Aviation Inc — Q4 2024: The company reported fourth‑quarter 2024 GAAP results with a net loss of $198.1 million, total operating expenses of $124.2 million (GAAP) / $98.3 million (non‑GAAP), and a non‑GAAP Adjusted EBITDA loss of $94.8 million. Archer ended Q4 with $834.5 million in cash and cash equivalents and reports total liquidity above $1.0 billion (including $302 million raised in February). The quarter focused on starting production of the Midnight aircraft, launching a commercial "Launch Edition" program with Abu Dhabi Aviation, and expanding a defense partnership with Anduril.

Key financials (Q4 2024 / FY 2024)

Q4 2024 GAAP net loss: $(198.1)M. Q4 total operating expenses: $124.2M (GAAP) / $98.3M (non‑GAAP). Q4 Adjusted EBITDA (non‑GAAP) loss: $(94.8)M. FY 2024 GAAP net loss: $(536.8)M; FY Adjusted EBITDA (non‑GAAP): $(368.9)M. FY total operating expenses: $509.7M (GAAP) / $380.6M (non‑GAAP).

Liquidity

Cash and cash equivalents at quarter end: $834.5M. Total liquidity exceeds $1.0B when including the $302M equity raise announced in February. Archer states it maintains one of the strongest balance sheets in the sector and that spending remained nearly flat for a second straight quarter.

Production and commercial rollout

Archer has started production of the first Midnight aircraft at its ARC facility in Covington, GA, with plans to build up to 10 Midnight aircraft in 2025 to support certification testing and early deployments.

Launch Edition commercialization

Archer unveiled a "Launch Edition" commercialization program designed to deploy Midnight commercially in early adopter markets prior to FAA type certification. Abu Dhabi Aviation (ADA) is announced as the first Launch Edition customer, with an initial fleet deployment beginning later in the year and operational support from Archer (pilots, technicians, engineers).

Defense partnership

Archer highlighted an exclusive partnership with Anduril to develop a hybrid VTOL for defense use cases, noting what it describes as stronger‑than‑expected demand and the potential for sizable non‑FAA‑certified defense programs of record.

Q1 2025 outlook

Archer estimates first‑quarter 2025 Adjusted EBITDA will be a loss of $95M to $110M and said it has not provided a reconciliation for that estimate because certain non‑GAAP items (notably stock‑based compensation) are uncertain and difficult to predict.