Industrials · NYSE: ACHR
Archer Aviation: how the business works
Archer Aviation is developing an electric air taxi called Midnight that is not yet FAA certified; it had $0.3 million of revenue and a $618.2 million net loss in FY2025.
By Hardik Bhandare · Checked against filings: . Editorial policy. Corrections
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Archer Aviation Inc. · San Jose, California · Founded 2018
Updated for Q2 FY2026 · checked
- Revenue, FY2025
- $0.3M
- Net loss, FY2025
- −$618.2M
- Revenue, Q2 FY2026
- $5.0M
- Cash and short-term investments, Jun 30, 2026
- $1,560.6M
- Workforce, Dec 31, 2025
- 1,660
The short version
Archer Aviation in 5 points
1 · What it sells
Archer is developing Midnight, an electric air taxi that is not yet FAA certified, and its revenue so far, $5.0 million in Q2 FY2026, came mostly from running Hawthorne Airport near Los Angeles.
2 · Who pays it
Archer gives no split by customer; its $5.0 million of Q2 FY2026 revenue was 60% fuel and ground services at Hawthorne Airport, 20% leases there and 20% other.
3 · What it keeps from $100
Archer had $0.3 million of revenue in FY2025, so of every $100 that came in, mostly interest ($52.8 million) and non-cash warrant gains ($58.6 million), costs were $653.4 and it lost $553.4; its operating loss was $729.3 million.
4 · Where the operating profit comes from
Archer has one segment and no operating profit: its FY2025 operating loss was $729.3 million, and $52.8 million of interest on its cash and investments was its main cash income.
5 · The one thing to watch
Archer held $1,560.6 million of cash and short-term investments at Jun 30, 2026, after using $305.5 million in operations in the first half of FY2026, and its shares outstanding rose from 237.7 million at Dec 31, 2021 to 770.0 million at Aug 5, 2026.
Sources: From Archer's FY2025 10-K, Q2 FY2026 10-Q and Q2 FY2026 earnings release · checked
See the full receipt and the management scorecard below
01Where the money goes · FY2025
Where does $100 of Archer Aviation's money go?
Archer Aviation · FY2025
Receipt for every $100
| Cost of revenue | $0.3 |
|---|---|
| Research and development | $442.2 |
| General and administrative | $210.7 |
| Income tax | $0.3 |
| Net loss (costs above money in) | −$553.4 |
| Total | $100 |
Each line = amount ÷ total money in × 100. Lines may not add to exactly $100 because of rounding.
How this is worked out
Cityfort calculation from the FY2025 10-K. Archer had $0.3 million of revenue in FY2025, so most money in was interest income ($52.8 million) and other income, mainly non-cash gains on warrant values ($58.6 million): $111.7 million in all. Costs came to $653.4 per $100 that came in, so the last line is a net loss of $553.4. These lines show how far spending exceeded that income; they are not a margin on sales. Stock-based pay ($223.5 million) sits inside the cost lines.
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02The business in one line
What does Archer Aviation do?
Share buyers fund Archer's work to certify and build electric air taxis; most of the money goes on research and overhead, and nothing is left yet.
- No one pays Archer for aircraft yet. Its revenue, $5.0 million in Q2 FY2026, came mostly from fuel, ground services and leases at Hawthorne Airport, which it took control of in December 2025.
- Its FY2025 operating costs were $729.6 million. Its three registered direct offerings raised $1,801.8 million that year before offering costs.
03Who pays it
Who pays Archer Aviation?
Fuel and ground-service customers at Hawthorne Airport
60%
of revenue
Aircraft operators pay for fueling, ground handling and related services. This was $3.0 million, or 60%, of Q2 FY2026 revenue, starting Apr 1, 2026.
Tenants leasing space at Hawthorne Airport
20%
of revenue
Tenants pay for hangar and other space. This was $1.0 million, or 20%, of Q2 FY2026 revenue, and all of FY2025's $0.3 million.
Other revenue
20%
of revenue
$1.0 million, or 20%, of Q2 FY2026 revenue. The 10-Q calls it revenue from other sources and does not say who paid it.
United Airlines (no aircraft revenue yet)
Not disclosed
A conditional agreement to buy up to $1.0 billion of Midnight aircraft, with an option for $500.0 million more. United paid a $10.0 million pre-delivery payment, held as a liability.
US Air Force and overseas launch partners (no aircraft revenue yet)
Not disclosed
Purchase agreements with the US Air Force, and a UAE Launch Edition program with Abu Dhabi Aviation and the Abu Dhabi Investment Office. Archer reports no revenue from either through Q2 FY2026.
- Fuel and ground-service customers at Hawthorne Airport60%
- Tenants leasing space at Hawthorne Airport20%
- Other revenue20%
How spread out the customers are
Archer's Q2 FY2026 10-Q says that, at its pre-commercial stage, it has no concentration exposure to products, services or customers. It gives no split by customer.
04Why it makes money
Why does Archer Aviation make money?
Archer does not make money from aircraft yet: share sales pay for the work, and interest on that cash is its main cash income.
Archer plans to earn from selling aircraft, flying passengers and defense work once Midnight is certified. Until then, costs grow with no aircraft revenue. The operating loss went from $358.3 million in FY2021, which included $117.3 million of non-cash warrant expense, to $729.3 million in FY2025.
Operating loss (US$ million)
−$358.3−$729.3
FY2021 to FY2025
- Archer sells new shares: its three registered direct offerings raised $1,801.8 million before costs in FY2025
- Cash and short-term investments reached $1,964.7 million at Dec 31, 2025
- Interest on that money brought in $52.8 million in FY2025
- Spending goes on research, overhead and equipment: $78.8 million of property and equipment in FY2025
- The plan is to earn from aircraft sales, air taxi trips and defense work once certified
- No aircraft is certified yet, so the money still starts with share sales
↺ Step 6 feeds back into step 1.
05Business segments · Q2 FY2026
Which businesses make up Archer Aviation?
Fuel and ground services (FBO)
60%Archer reports one segment, so this is a type of revenue, not a segment. Fueling, ground handling and related services at Hawthorne Airport were 60% of the $5.0 million of Q2 FY2026 revenue. They began on Apr 1, 2026.
Revenue $3M
Leases
20%Leased hangar and other space at Hawthorne Airport, 20% of Q2 FY2026 revenue. Leasing began in Q4 FY2025.
Revenue $1M
Other
20%Revenue from other sources, 20% of Q2 FY2026 revenue. The 10-Q does not describe it further.
Revenue $1M
06The numbers · Consolidated · US$
How has Archer Aviation done?
Revenue
$0.3MFY2025
Archer had no revenue from FY2021 to FY2024; its $0.3 million in FY2025 and $5.0 million in Q2 FY2026 came mostly from Hawthorne Airport, not from aircraft.
US$
See the numbers
Net profit
−$618MFY2025
Net loss grew from $347.8 million in FY2021 to $618.2 million in FY2025, and non-cash warrant revaluations moved it each year (a $58.6 million gain in FY2025, a $48.8 million loss in FY2024), so the operating loss of $729.3 million in FY2025 is the steadier line.
US$
See the numbers
Free cash flow
−$512MFY2025
Free cash flow was an outflow every year, $511.7 million in FY2025; it does not count stock-based pay, which was $223.5 million that year and was paid in shares.
US$ · cash from operations minus spending on plants and equipment
See the numbers
See all yearly numbers
EBITDA here = operating income plus depreciation and amortization (from the cash flow statement). Fiscal years are the company's own (Fiscal year ends Dec 31). Net profit is the share belonging to the company's owners.
Download Archer Aviation's yearly and quarterly numbers (CSV, with source ids)
Learn: Fiscal years that don't end in December: Nvidia's FY2027 explained · Stock-based compensation and dilution: pay that becomes shares
Sources (18)
- Form 10-K, fiscal year 2023 (year ended Dec 31, 2023)
- Form 10-K, fiscal year 2022 (year ended Dec 31, 2022)
- Form 10-K, fiscal year 2024 (year ended Dec 31, 2024)
- Form 10-K, fiscal year 2025 (year ended Dec 31, 2025)
- Form 10-Q, Q3 fiscal 2024 (quarter ended Sep 30, 2024)
- Q3 2024 earnings release (8-K Exhibit 99.2)
- Q4 and full year 2025 earnings release (8-K Exhibit 99.2)
- Q4 and fiscal 2024 earnings release (8-K Exhibit 99.2)
- Form 10-Q, Q1 fiscal 2025 (quarter ended Mar 31, 2025)
- Q1 2025 earnings release (8-K Exhibit 99.2)
- Form 10-Q, Q2 fiscal 2025 (quarter ended Jun 30, 2025)
- Q2 2025 earnings release (8-K Exhibit 99.2)
- Form 10-Q, Q3 fiscal 2025 (quarter ended Sep 30, 2025)
- Q3 2025 earnings release (8-K Exhibit 99.2)
- Q1 2026 earnings release (8-K Exhibit 99.2)
- Form 10-Q, Q1 fiscal 2026 (quarter ended Mar 31, 2026)
- Q2 2026 earnings release (8-K Exhibit 99.2)
- Form 10-Q, Q2 fiscal 2026 (quarter ended Jun 30, 2026)
07Who runs it
Who runs Archer Aviation, and did they deliver?
Adam Goldstein
Founder, Chief Executive Officer and director · since 2018
Co-CEO and co-chair from September 2021 to April 2022. FY2025 total pay was $11,397,947, down from $17,763,000 in FY2024. Owns 4.88% of the shares.
Priya Gupta
Acting Chief Financial Officer · since 2024
Acting CFO since September 2024, per the 2026 proxy; Vice President of Finance at Archer from April 2022.
Tom Muniz
Chief Technology Officer · since 2024
CTO since March 2024; Chief Operating Officer from March 2021 to March 2024. At Archer since December 2019.
Fred M. Diaz
Lead Independent Director · since 2022
Lead independent director since February 2022. Archer has no board chair.
What they said, and what happened
1 partly delivered · 2 too early to tell · 2 delivered
Said on Feb 27, 2025
Archer's Q4 FY2024 earnings release quoted the CEO: "we are on track to deliver our first revenue-generating Midnight aircraft later this year."
Partly deliveredWhat happened
Archer delivered its first Midnight to the UAE in 2025 for flight testing, and its Q3 FY2025 shareholder letter (Nov 6, 2025) said it had begun receiving first payments under its agreements with Abu Dhabi Aviation and ADIO. Its FY2025 10-K reports no aircraft revenue; FY2025's $0.3 million came from Hawthorne Airport leases.
Said on Mar 2, 2026
Archer's Q4 FY2025 shareholder letter said it was targeting first passenger flights in 2026.
Too early to tellWhat happened
No passenger flights are reported in the Q2 FY2026 10-Q. Q3 FY2026 results were not filed as of Nov 7, 2026.
Said on May 11, 2026
Archer's Q1 FY2026 earnings release gave a Q2 FY2026 Adjusted EBITDAOperating profit before wear-and-tear charges (depreciation and amortization). As a margin: per $100 of sales. loss of $170 million to $200 million.
DeliveredWhat happened
Reported a loss of $177.1 million, which Archer called the lower end of the range. The GAAP net loss was $263.2 million.
Said on Mar 2, 2026
Archer's Q4 FY2025 earnings release gave a Q1 FY2026 Adjusted EBITDA loss of $160 million to $180 million.
DeliveredWhat happened
Reported a loss of $172.5 million, within the range. The GAAP net loss was $217.7 million.
Said on Aug 10, 2026
Archer's Q2 FY2026 earnings release says it is preparing to launch Midnight operations later this year under the eIPP, and gives a Q3 FY2026 Adjusted EBITDA loss of $170 million to $200 million.
Too early to tellWhat happened
Q3 FY2026 results were not filed as of Nov 7, 2026, and Archer has not announced the date.
Sources (11)
- 2026 proxy statement (DEF 14A), annual meeting Jun 26, 2026
- Form 10-K, fiscal year 2025 (year ended Dec 31, 2025)
- Q4 and fiscal 2024 earnings release (8-K Exhibit 99.2)
- Q2 2025 earnings release (8-K Exhibit 99.2)
- Q3 2025 shareholder letter (8-K Exhibit 99.1)
- Q4 and FY 2025 shareholder letter (8-K Exhibit 99.1)
- Form 10-Q, Q2 fiscal 2026 (quarter ended Jun 30, 2026)
- EDGAR submissions data, Archer Aviation Inc. (CIK 0001824502)
- Q1 2026 earnings release (8-K Exhibit 99.2)
- Q2 2026 earnings release (8-K Exhibit 99.2)
- Q4 and full year 2025 earnings release (8-K Exhibit 99.2)
08What could go wrong
What could go wrong for Archer Aviation?
- Regulation
No certified aircraft yet
Midnight needs FAA type and production certificates before commercial passenger service in the US. Archer's FY2025 10-K says it had about 15% of the compliance documents for the final type-certification phase, and that competitors may be certified first.
Watch FAA type certification progress and the start of eIPP operations.
- Cash and liquidity
Cash use and share dilution
Archer used $305.5 million on operations and $69.7 million on equipment in the first half of FY2026, and its 10-K says it may need more equity or debt. Shares outstanding rose from 237.7 million at Dec 31, 2021 to 770.0 million at Aug 5, 2026.
Watch Cash and short-term investments ($1,560.6 million at Jun 30, 2026) and the share count each quarter.
- Execution
Boeing deal adds shares and may not close
Buying Wisk, Insitu and SkyGrid would cost new shares equal to 19.75% of Archer's shares outstanding just before closing, plus two $100.0 million warrants. Closing needs regulatory clearances and consents, and stockholder approval is needed for the warrant shares.
Watch Whether and when the deal closes, and the share count after it.
- Legal
Lawsuits with Joby and others
Joby Aero sued Archer on Nov 18, 2025, alleging trade-secret misappropriation and breach of contract tied to Archer's hiring of a former Joby employee. On Sep 29, 2026 the court dismissed some claims, let others proceed and dismissed Archer's counterclaims. Archer has patent cases against Joby at the ITC and against Vertical Aerospace.
Watch Court rulings in the Joby case, and the ITC's target final determination date of Sep 14, 2027.
- Demand
Orders and partners are conditional
United's order for up to $1.0 billion of aircraft depends on conditions such as an FAA airworthiness certificate, and only a $10.0 million pre-delivery payment has been made. The manufacturing deal with Stellantis was still a memorandum of understanding, not a final agreement, in the FY2025 10-K.
Watch Firm orders, payments received and a final Stellantis agreement.
- Execution
No experience building aircraft in volume
Archer's FY2025 10-K says it has no experience in volume aircraft manufacturing and depends on a limited number of suppliers, some single-source. A Q3 FY2024 goal of two aircraft a month by the end of 2025 has no reported production rate in later filings.
Watch Any production rate or delivery count Archer reports.
Sources (7)
- Form 10-K, fiscal year 2025 (year ended Dec 31, 2025)
- Form 10-K, fiscal year 2022 (year ended Dec 31, 2022)
- Form 10-Q, Q2 fiscal 2026 (quarter ended Jun 30, 2026)
- 8-K filed Aug 10, 2026: Equity Purchase Agreement with Boeing (Wisk, Insitu, SkyGrid) (Items 1.01, 3.02, 7.01)
- 8-K filed Sep 24, 2026: HSR waiting period expired for Boeing transaction (Item 7.01)
- 8-K filed Oct 2, 2026: court ruling in Joby Aero v. Archer (Item 7.01)
- Q3 2024 earnings release (8-K Exhibit 99.2)
09Both sides
What do supporters and critics point to?
What supporters point to
- The FAA fully accepted Midnight's Means of Compliance in January 2026, and Archer holds FAA Part 135, 145 and 141 certificates.
- Archer held $1,560.6 million of cash and short-term investments at Jun 30, 2026, against $80.1 million of debt, and management says that funds its plan for at least 12 months.
- Revenue began: $0.3 million in Q4 FY2025, $1.6 million in Q1 FY2026 and $5.0 million in Q2 FY2026, mostly from Hawthorne Airport.
- Large partners are involved: Stellantis beneficially owned 10.09%, including shares it can get through warrants; United has a conditional order for up to $1.0 billion of aircraft; and Anduril co-develops the defense aircraft.
- Archer's Adjusted EBITDA came in within its own guided range for Q4 FY2025, Q1 FY2026 and Q2 FY2026.
What critics point to
- Archer has no aircraft revenue through Q2 FY2026, after saying in February 2025 it was on track to deliver its first revenue-generating Midnight later that year.
- Shares outstanding rose 223.9% from Dec 31, 2021 to Aug 5, 2026, and the Boeing deal would add shares equal to 19.75% more.
- The FY2025 net loss was $618.2 million, and Adjusted EBITDA leaves out $223.5 million of stock-based pay that year.
- Archer set a goal in November 2024 of two aircraft a month by the end of 2025; later filings report no production rate.
- Joby Aero alleges in court that Archer misappropriated trade secrets; some of Joby's claims were allowed to proceed on Sep 29, 2026.
10What to watch next
What should you watch next at Archer Aviation?
Next event
Q3 FY2026 results
Date not announced yet.
Q3 FY2026 results (date not announced)
Archer had not filed or dated them as of Nov 7, 2026. It guided to an Adjusted EBITDA loss of $170 million to $200 million; Q2 FY2026 revenue was $5.0 million and the net loss $263.2 million.
Midnight flights with passengers
Archer said in March 2026 it was targeting first passenger flights in 2026, and in August 2026 that it was preparing to begin Midnight operations under the eIPP later this year.
The Boeing deal and the share count
The deal would add shares equal to 19.75% of those outstanding just before closing. The last count filed was 770,023,800 at Aug 5, 2026.
11Key facts
Key facts about Archer Aviation
- What does Archer Aviation do?
- Archer Aviation Inc. is developing Midnight, an electric aircraft that takes off and lands vertically, built to carry four passengers and a pilot on air taxi trips of around 20 miles. As of its Q2 FY2026 10-Q (quarter ended Jun 30, 2026), Midnight was not FAA certified, and Archer also runs Hawthorne Airport near Los Angeles.
- How does Archer Aviation make money?
- Archer Aviation has not earned revenue from aircraft. Its revenue of $5.0 million in Q2 FY2026 was $3.0 million from fuel and ground services at Hawthorne Airport, $1.0 million from leasing space there and $1.0 million of other revenue. Its FY2025 revenue was $0.3 million, all from Hawthorne Airport leases.
- What is Archer Aviation's business model?
- Archer Aviation plans to sell aircraft and related services, run its own air taxi service in selected cities, and sell aircraft and technology for defense use, including a hybrid aircraft developed with Anduril. Until then, it pays for development by selling shares: its three registered direct offerings raised $1,801.8 million in FY2025 before offering costs.
- Is Archer Aviation profitable?
- No. Archer Aviation had a net loss of $618.2 million and an operating loss of $729.3 million in FY2025, on revenue of $0.3 million. Its net loss for Q2 FY2026 was $263.2 million, and it reported a net loss in every year from FY2021 to FY2025.
- What is Archer Aviation's revenue by segment?
- Archer Aviation reports one segment. Of its $5.0 million of Q2 FY2026 revenue, 60% was fuel and ground services at Hawthorne Airport, 20% was leasing space there and 20% was other revenue, per its Q2 FY2026 10-Q.
- Who are Archer Aviation's customers?
- Archer Aviation's paying customers so far are users and tenants of Hawthorne Airport, which produced most of its $5.0 million of Q2 FY2026 revenue. United Airlines has a conditional agreement to buy up to $1.0 billion of Midnight aircraft and paid a $10.0 million pre-delivery payment, which Archer has not counted as revenue as of Jun 30, 2026.
- Who owns Archer Aviation?
- Archer Aviation's 2026 proxy (record date Mar 31, 2026) lists Stellantis N.V. with 10.09% of the Class A shares, including shares it can get through warrants, and founder and CEO Adam Goldstein with 4.88%. Officers and directors as a group held 5.55%. Archer has one class of stock with one vote per share.
- What is Archer Aviation's Midnight aircraft?
- Midnight is Archer Aviation's electric vertical take-off and landing (eVTOL) aircraft for air taxi trips, built for four passengers and a pilot. The FAA fully accepted its Means of Compliance in January 2026, and Archer's FY2025 10-K says it had received about 15% of the compliance documents for the final type-certification phase.
- What is Archer Aviation's Hawthorne Airport business?
- Archer Aviation took control of Hawthorne Airport near Los Angeles on Dec 8, 2025, for $127.1 million, under a city master lease that runs through 2055. It bought 75% of the airport's fuel and ground-services business on Apr 1, 2026, and the airport produced most of Archer's $5.0 million of Q2 FY2026 revenue.
- What is Archer Aviation's defense aircraft?
- Archer Aviation and Anduril unveiled a hybrid-electric, autonomous vertical take-off aircraft in July 2026: Thunder for defense missions and Halo for commercial cargo and rescue. Archer reported no revenue from it through Q2 FY2026.
Terms on this page
- Capital expenditures (capex)
- Debt-to-equity
- Earnings per share (EPS)
- EBITDA
- Free cash flow
- Market cap
- Net debt
- Revenue vs net income
Each explains the term in plain English, with the same number from other companies on Cityfort.
Go deeper
More detail from the same filings. Open any section.
12What it sells
12What it sells
What does Archer Aviation sell?
Midnight air taxi (not yet certified)
An electric vertical take-off and landing (eVTOL) aircraft for four passengers and a pilot, on what Archer calls a 12-tilt-6 electric propulsion layout. Archer plans to sell it and to run its own air taxi service in selected cities. It has earned no revenue from it.
Halo and Thunder hybrid aircraft (in development)
An autonomous hybrid-electric vertical take-off aircraft developed with Anduril: Thunder for defense missions, Halo for commercial cargo and rescue. It was unveiled in July 2026.
Hawthorne Airport services and leases
Fuel, ground handling and leased space at Hawthorne Airport near Los Angeles, which Archer controls under a city lease through 2055. This produced most of the $5.0 million of Q2 FY2026 revenue.
Powertrain and aviation software
Anduril and EDGE Group chose Archer's electric powertrain for their Omen autonomous air vehicle, announced in November 2025. Archer also announced ZEE, an AI model for aviation, in 2026.
What it does
- Does: Designs, tests and builds Midnight aircraft in California and Georgia
- Does: Plans to run its own air taxi service and to sell aircraft to airlines and governments
- Does: Runs fuel, ground handling and leasing at Hawthorne Airport: $5.0 million of revenue in Q2 FY2026
What it does not do
- Does not: Has no FAA-certified aircraft, as of its Q2 FY2026 10-Q
- Does not: Has not counted any of United's conditional order as revenue: a $10.0 million pre-delivery payment is held as a liability
- Does not: Does not report revenue by customer: it has one segment
13How the money flows
13How the money flows · FY2025
How does money flow through Archer Aviation?
Money in
- Revenue (Hawthorne Airport leases)$0.3M
- Interest income ($52.8M) and other income, mainly non-cash gains on warrant values ($58.6M)$111M
The company
Archer Aviation
$112M came in
Money out
- Cost of revenue$0.3M
- Research and development$494M
- General and administrative$235M
- Income tax$0.3M
- Net loss−$618M
- Customers paid Archer $0.3 million in FY2025, all for leased space at Hawthorne Airport.
- Interest on its cash and investments brought in $52.8 million. A $58.6 million gain, mainly from lower values on its warrants, is an accounting entry, not cash.
- Research and development took $493.9 million and general and administrative costs $235.4 million. Those lines include $223.5 million of stock-based pay.
- That left an operating loss of $729.3 million and a net loss of $618.2 million.
- Its three registered direct offerings raised $1,801.8 million in FY2025 before offering costs, against $511.7 million of cash used by operations and equipment spending.
14What it needs to run
14What it needs to run
What does Archer Aviation need to run?
FAA certification
Midnight needs an FAA type certificate before it can carry paying passengers in the US. Archer's FY2025 10-K says it had received about 15% of the compliance documents for the final phase, and that no eVTOL aircraft is FAA certified for commercial operations in the US.
Outside capital
Archer used $511.7 million on operations and equipment in FY2025, and $305.5 million on operations plus $69.7 million on equipment in the first half of FY2026. Selling new shares has paid for it.
Factories and suppliers
Archer builds early aircraft on a line in Silicon Valley and is setting up high-volume production in Covington, Georgia, funded partly by a $65.0 million bank loan. It relies on outside suppliers, some single-source, and key materials include aluminum and composites.
People
A workforce of 1,660 at Dec 31, 2025: 1,160 full-time employees and 500 contingent workers. None are in a union.
Landing sites
Air taxis need places to take off, land and charge. Archer controls Hawthorne Airport near Los Angeles and is working with partners to build vertiports in Abu Dhabi and the UAE.
15Competitors and what protects it
15Competitors and what protects it
Who does Archer Aviation compete with?
Joby Aviation
NYSE: JOBY
Develops eVTOL aircraft. Archer's Q2 FY2026 10-Q describes a patent complaint Archer filed at the US International Trade Commission to stop Joby importing certain eVTOL aircraft and parts, and a lawsuit Joby filed against Archer.
Vertical Aerospace
Develops the Valo eVTOL aircraft. Archer sued Vertical on Feb 23, 2026, alleging that Valo infringes patents relating to Midnight, per Archer's Q2 FY2026 10-Q.
What protects the business
Each strength is scored 1 (weak) to 5 (strong) for the business, with the reason. It is not a rating of the share.
- Certification progress2 of 5
The FAA fully accepted Midnight's Means of Compliance in January 2026, but the FY2025 10-K says Archer had about 15% of the compliance documents for the final phase.
- Cash on hand3 of 5
Archer held $1,560.6 million of cash and short-term investments at Jun 30, 2026, against $80.1 million of bank loans.
- An airport of its own2 of 5
Archer controls Hawthorne Airport near Los Angeles under a city master lease through 2055, and plans to make it the hub of its Los Angeles network.
- Patents2 of 5
Archer's issued patents generally expire between 2040 and 2046, and it is asserting some of them against Joby and Vertical Aerospace.
Weak spot
No certified aircraft
Archer's FY2025 10-K says no eVTOL aircraft is FAA certified for commercial operations in the US, and Archer reports no aircraft revenue through Q2 FY2026.
16Where growth could come from
16Where growth could come from
Where could Archer Aviation's growth come from?
Archer said in its Q2 FY2026 earnings release (Aug 10, 2026) that it expects a Q3 FY2026 Adjusted EBITDA loss of $170 million to $200 million, a company measure that leaves out stock-based payPay given as shares instead of cash, which spreads ownership more thinly. Learn more and warrant revaluations. The same release says Archer is preparing to begin Midnight operations later this year under the White House's eVTOL Integration Pilot Program (eIPP).
Midnight air taxis in the US
BehindNo aircraft revenue through Q2 FY2026
Archer said in February 2025 it was on track to deliver its first revenue-generating Midnight later that year. Its Q2 FY2026 10-Q says it was selected as a partner in multiple eIPP applications, for early operations in states such as Florida, Texas and New York.
Status: Behind, behind the company's own plan.
UAE launch
MixedFirst Midnight delivered to the UAE in 2025
Archer delivered its first Midnight to the UAE and began flight tests in Abu Dhabi in 2025. Its Q3 FY2025 shareholder letter (Nov 6, 2025) said it had begun receiving first payments under its agreements with Abu Dhabi Aviation and ADIO. Its FY2025 10-K reports no aircraft revenue, and its Q2 FY2026 10-Q says more aircraft are due this year for initial passenger operations.
Status: Mixed, partly on track.
Hawthorne Airport
WorkingTotal revenue: $0.3M in Q4 FY2025, $5.0M in Q2 FY2026
Archer took control of the airport on Dec 8, 2025, and bought 75% of its fuel and ground-services business on Apr 1, 2026. The 10-Q says Archer expects hangar and FBO revenue to increase as more space comes into service.
Status: Working, on track against what the company said.
Defense aircraft with Anduril
EarlyUnveiled in July 2026
The hybrid-electric, autonomous Thunder (defense) and Halo (commercial) share one airframe. Archer bought Overair's patent portfolio and licensed Karem Aircraft's tiltrotor technology for it in 2025. No revenue is reported.
Status: Early, too early to judge.
Boeing's Wisk, Insitu and SkyGrid
NewAgreement signed Aug 9, 2026; not closed
Archer would pay with new shares equal to 19.75% of its shares outstanding just before closing, plus two warrants of $100.0 million each. Archer said Insitu alone would add over $200 million in annual revenue, based on Insitu's financials and estimates. The US antitrust waiting period expired by Sep 24, 2026; other approvals are still needed.
Status: New, recently announced.
Status compares progress with what the company itself said it would do: Working = on track against what the company said; Mixed = partly on track; Behind = behind the company's own plan; New = recently announced; Early = too early to judge.
Sources (10)
- Q2 2026 earnings release (8-K Exhibit 99.2)
- Q2 2026 shareholder letter (8-K Exhibit 99.1)
- Q4 and fiscal 2024 earnings release (8-K Exhibit 99.2)
- Form 10-K, fiscal year 2025 (year ended Dec 31, 2025)
- Form 10-Q, Q2 fiscal 2026 (quarter ended Jun 30, 2026)
- Q2 2025 earnings release (8-K Exhibit 99.2)
- Q3 2025 shareholder letter (8-K Exhibit 99.1)
- Q4 and full year 2025 earnings release (8-K Exhibit 99.2)
- 8-K filed Aug 10, 2026: Equity Purchase Agreement with Boeing (Wisk, Insitu, SkyGrid) (Items 1.01, 3.02, 7.01)
- 8-K filed Sep 24, 2026: HSR waiting period expired for Boeing transaction (Item 7.01)
17The company's own measures (non-GAAP)
17The company's own measures · FY2025 and Q2 FY2026
What do Archer Aviation's own measures show?
Official (GAAP): Net loss, FY2025
−$618M
Company's own measure: Adjusted EBITDA, FY2025
−$482M
Archer's own measure: net loss before interest, tax, depreciation and amortization, and also before stock-based pay ($223.5 million in FY2025), warrant revaluations and expense, and certain litigation, acquisition and dispute-agreement costs.
Official (GAAP): Total operating expenses, FY2025
$730M
Company's own measure: Non-GAAP total operating expenses, FY2025
$502M
Archer's own measure: operating expenses before stock-based pay, warrant expense and certain litigation, acquisition and dispute-agreement costs.
Official (GAAP): Net loss, Q2 FY2026
−$263M
Company's own measure: Adjusted EBITDA, Q2 FY2026
−$177M
Same definition. Q2 FY2026 leaves out $85.6 million of stock-based pay and a $6.0 million accrued one-time litigation settlement-related expense. Archer had guided to a loss of $170 million to $200 million.
These are the company's own measures, defined by the company. They are not comparable across companies, and they are not added together. Each sits beside the nearest official (GAAP) figure.
Learn: Non-GAAP measures: what a company's "adjusted" numbers leave out · Stock-based compensation and dilution: pay that becomes shares
18Financial strength and debt
18Financial strength · Jun 30, 2026
How much debt does Archer Aviation have?
- Total debt$80.1M
- Cash and investments$1.6B
- Net cash (cash minus debt)$1.5B
- Net worth (shareholders' money)$1.9B
- Debt to equity
- 0.04×
- $ of debt for every $1 of shareholders' money
- Net cash of $1,480.5 million is a Cityfort calculation from the Q2 FY2026 10-Q: $1,560.6 million of cash and short-term investments less $80.1 million of debt. It leaves out $7.3 million of restricted cash and $45.5 million of lease liabilities.
- The debt is two bank loans: $64.2 million from Synovus Bank, due Oct 5, 2033, which funds the Georgia factory, and $15.9 million from Banc of California at a fixed 6.3%, assumed with Hawthorne Airport and due April 2030. Archer has no bonds.
- Management says the $1,560.6 million will fund its operating plan for at least the 12 months after the Q2 FY2026 statements were issued.
- Net worth is stockholders' equity of $1,892.3 million. The accumulated deficit, all losses since the start, was $2,784.7 million at Jun 30, 2026.
19Who owns it
19Who owns it · ownership as of Mar 31, 2026
Who owns Archer Aviation?
- Officers and directors (as a group), shares
- 5.6%
Share classes
Holders of 5% or more
From the company's proxy statement (DEF 14A), later Schedule 13G filings and the share counts on its latest annual or quarterly report. Each holder row shows the date of its own filing.
Insider trades · Form 4 data as of Nov 6, 2026
What did Archer Aviation's insiders report trading?
Archer Aviation's insiders made 50 Form 4A filing an insider must make within two business days of buying or selling the company's shares. Learn more filings in the 12 months to Nov 6, 2026.
They reported no purchases and 29 sales (1.2 million shares) in the open market or privately (codes P and S).
5 of the 29 sales were on forms with the Rule 10b5-1 plan box checked.
The same filings report 71 other share transactions (M: 65, A: 6).
They also report 77 transactions in options, stock units or other derivatives.
Insiders are a company's officers, directors and owners of more than 10% of a class of its shares. Most changes in their holdings must be reported to the SEC on a Form 4 within two business days. Source: SEC Form 4 filings on EDGAR.
- P
- a purchase in the open market or privately
- S
- a sale in the open market or privately
- A
- a grant, award or other acquisition from the company under Rule 16b-3
- M
- exercise or conversion of an option or other derivative, exempt under Rule 16b-3
Code meanings: General Instruction 8 of Form 4 (SEC).
The latest 25 of 100 transactions
Shares: A = acquired, D = disposed of. A price the filing gives only in a footnote shows as “See filing”. The 10b5-1 box is checked when at least one trade on the form was made under a Rule 10b5-1 plan. A Form 4/A replaces the form it amends. See all of Archer Aviation's Form 4 filings on EDGAR.
Learn: How to read a proxy statement (DEF 14A): Nvidia's 2026 proxy · Form 4 insider filings: who files, the codes and the footnotes · Rule 10b5-1 trading plans: how insiders pre-schedule their trades
Sources (7)
- Form 10-Q, Q2 fiscal 2026 (quarter ended Jun 30, 2026)
- 8-K filed Aug 18, 2026: vendor share issuances, resale of 8,261,273 shares (Items 3.02, 8.01)
- Form 10-K, fiscal year 2024 (year ended Dec 31, 2024)
- 2026 proxy statement (DEF 14A), annual meeting Jun 26, 2026
- Schedule 13G/A, BlackRock, Inc. (6.9% as of Mar 31, 2026)
- Schedule 13G, State Street Corporation (6.4% as of Jun 30, 2026)
- Schedule 13G/A, ARK Investment Management LLC and Catherine D. Wood (4.94% as of Apr 30, 2026)
20What it does with profit
20What it does with profit
What does Archer Aviation do with its profit?
Money raised · Jul 1, 2024
Stellantis bought 17,401,153 shares for $55.0 million under a 2023 forward purchase agreement.
$55M
Money raised · Dec 13, 2024
Two private placements to investors, closing in August and December 2024, brought in $590.1 million gross.
$590M
Money raised · Feb 12, 2025
Registered direct offering of 35,500,000 shares to institutional investors, for $301.8 million.
$302M
Money raised · Jun 16, 2025
Registered direct offering of 85,000,000 shares to institutional investors, for $850.0 million.
$850M
Money raised · Nov 10, 2025
Registered direct offering of 81,250,000 shares to institutional investors, for $650.0 million.
$650M
Money raised · Aug 17, 2026
8,261,273 shares issued to vendors as payment for goods and services, registered for resale on Aug 18, 2026.
21Governance signals
21Governance signals
What do Archer Aviation's governance filings show?
- Auditor
- PricewaterhouseCoopers LLP, since 2020
- Auditor changes
- None in the period covered
- Audit qualifications
- None reported
- Related-party dealings
- Neon Aero Inc. and its subsidiaries became related parties in August 2025, through the CEO's ownership interest and seat on Neon Aero's board. Archer bought $5.0 million of goods and services from them in the first half of FY2026, $2.7 million of it in Q2, and owed them $0.9 million at Jun 30, 2026.
- Credit rating
- No public credit rating found in a search of rating agency sites on Nov 7, 2026
Flags to know about
related party · Aug 10, 2026
Purchases from a company tied to the CEO
Archer bought $5.0 million of goods and services in the first half of FY2026 from the Neon Aero group, where the CEO holds an ownership interest and a board seat.
other · Aug 18, 2026
Shares used to pay vendors
Archer's FY2025 10-K says it issues shares to some vendors as payment, which dilutes stockholders. It issued 8,261,273 such shares around Aug 17, 2026.
other · Apr 30, 2026
Acting finance chief
The 2026 proxy lists Priya Gupta as Acting Chief Financial Officer, a role it says she has held since September 2024.
other · Aug 10, 2026
Stockholder suit over the 2021 merger: settlement awaits court approval
Stockholders alleged breaches of fiduciary duty in connection with the 2021 merger with Atlas Crest, in the Delaware Court of Chancery. A settlement filed on Aug 10, 2026 still needs court approval; Archer says its cost, net of insurance, is immaterial, and no party admitted the allegations.
other · Jun 24, 2026
Derivative suit over director pay
A stockholder filed a derivative suit on Jun 24, 2026, alleging that the board awarded excessive pay to non-employee directors. Archer is the nominal defendant.
22What the market paid
22What the market paid · price as of Nov 5, 2026
What did the market pay for Archer Aviation on Nov 5, 2026?
Price as of Nov 5, 2026 (shown for education; prices change daily).
Price as of Nov 5, 2026: Archer closed at $3.87, from Nasdaq.com's historical price table for this NYSE-listed share. Market value = $3.87 × 770,023,800 shares (Aug 5, 2026, the last count a filing states) = about $2,980.0 million (Cityfort calculation from the Nov 5, 2026 closing price and the Q2 FY2026 10-Q). Shares issued after that date are not in the count. P/E (price ÷ earnings per share) is not shown because Archer has net losses.
- Share price
- $3.87
- Market value (market cap)
- $3.0B
More price-based ratios · as of Nov 5, 2026
Each ratio divides a number from the company's filings by the market value or share price on Nov 5, 2026. Prices change daily, so these ratios do too.
Price to sales (P/S)
431.9×
$3.0B market value ÷ $6.9M revenue (four quarters to Jun 30, 2026) = 431.9×
Cityfort calculation from the Nov 5, 2026 closing price and the Q3 FY2025 to Q2 FY2026 10-Qs and earnings releases. Source: ACHR historical daily prices, Oct 20 to Nov 5, 2026 (Nasdaq.com historical table; ACHR is listed on the NYSE; close of Nov 5, 2026: $3.87); Form 10-Q, Q2 fiscal 2026 (quarter ended Jun 30, 2026); Form 10-Q, Q3 fiscal 2025 (quarter ended Sep 30, 2025) and 5 more
How price ratios workFree cash flow yield
−17.2%
−$512M free cash flow (FY2025) ÷ $3.0B market value = −17.2%
Cityfort calculation from the FY2025 10-K and the Nov 5, 2026 closing price. Source: ACHR historical daily prices, Oct 20 to Nov 5, 2026 (Nasdaq.com historical table; ACHR is listed on the NYSE; close of Nov 5, 2026: $3.87); Form 10-Q, Q2 fiscal 2026 (quarter ended Jun 30, 2026); Form 10-K, fiscal year 2025 (year ended Dec 31, 2025)
What free cash flow means
Shares used for the market value: 770.02 million ($3.87 × 770.02 million shares ≈ $3.0B). Source: Form 10-Q, Q2 fiscal 2026 (quarter ended Jun 30, 2026); 8-K filed Aug 18, 2026: vendor share issuances, resale of 8,261,273 shares (Items 3.02, 8.01); Form 10-K, fiscal year 2024 (year ended Dec 31, 2024)
Source: ACHR historical daily prices, Oct 20 to Nov 5, 2026 (Nasdaq.com historical table; ACHR is listed on the NYSE; close of Nov 5, 2026: $3.87); Form 10-Q, Q2 fiscal 2026 (quarter ended Jun 30, 2026)
Sources (11)
- ACHR historical daily prices, Oct 20 to Nov 5, 2026 (Nasdaq.com historical table; ACHR is listed on the NYSE; close of Nov 5, 2026: $3.87)
- Form 10-Q, Q2 fiscal 2026 (quarter ended Jun 30, 2026)
- Form 10-Q, Q3 fiscal 2025 (quarter ended Sep 30, 2025)
- Q3 2025 earnings release (8-K Exhibit 99.2)
- Q4 and full year 2025 earnings release (8-K Exhibit 99.2)
- Q1 2026 earnings release (8-K Exhibit 99.2)
- Form 10-Q, Q1 fiscal 2026 (quarter ended Mar 31, 2026)
- Q2 2026 earnings release (8-K Exhibit 99.2)
- Form 10-K, fiscal year 2025 (year ended Dec 31, 2025)
- 8-K filed Aug 18, 2026: vendor share issuances, resale of 8,261,273 shares (Items 3.02, 8.01)
- Form 10-K, fiscal year 2024 (year ended Dec 31, 2024)
23How it got here
23How it got here
How did Archer Aviation get here?
2018
Milestone
Founded
Archer was incorporated in October 2018.
2021
Milestone
United's conditional order
United Airlines agreed to a conditional purchase of up to $1.0 billion of aircraft, with an option for $500.0 million more. It later paid a $10.0 million pre-delivery payment.
2021
Crisis
Wisk lawsuit
Wisk Aero sued Archer in April 2021, alleging misappropriation of trade secrets and patent infringement.
2021
Milestone
Listed through a blank-check merger
Archer became a public company in September 2021 by merging with Atlas Crest Investment Corp., a blank-check company.
2023
Business-model change
Settlement with Boeing and Wisk
On Aug 10, 2023, Archer, Boeing and Wisk signed agreements that ended the court cases, provided for Boeing investment in Archer and started an autonomous-flight collaboration.
2024
Milestone
Operating certificates and one share class
Archer received FAA Part 145 repair station and Part 135 air carrier certificates in 2024. All 10-vote Class B shares converted to Class A on Dec 31, 2024.
2025
Business-model change
Hawthorne Airport
Archer took control of Hawthorne Airport near Los Angeles on Dec 8, 2025, for $127.1 million, under a city lease through 2055. Its first revenue came from leasing space there.
2026
Milestone
FAA accepts Midnight's Means of Compliance
In January 2026 the FAA fully accepted the methods Archer will use to show Midnight meets its safety rules.
2026
Business-model change
Deal for Boeing's Wisk, Insitu and SkyGrid
On Aug 9, 2026, Archer agreed to buy the three Boeing businesses, paying in shares and warrants. The deal had not closed as of the Sep 24, 2026 8-K.
Sources (7)
- Form 10-K, fiscal year 2025 (year ended Dec 31, 2025)
- Form 10-Q, Q2 fiscal 2026 (quarter ended Jun 30, 2026)
- EDGAR submissions data, Archer Aviation Inc. (CIK 0001824502)
- Form 10-K, fiscal year 2024 (year ended Dec 31, 2024)
- 8-K filed Nov 12, 2025: Hawthorne Airport acquisition agreements (Item 1.01)
- 8-K filed Aug 10, 2026: Equity Purchase Agreement with Boeing (Wisk, Insitu, SkyGrid) (Items 1.01, 3.02, 7.01)
- 8-K filed Sep 24, 2026: HSR waiting period expired for Boeing transaction (Item 7.01)
24Sources and changes
Where every number on this page comes from
Sources (33 documents)
- S1Form 10-K, fiscal year 2025 (year ended Dec 31, 2025) · Archer Aviation Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Mar 2, 2026
- S2Form 10-K, fiscal year 2024 (year ended Dec 31, 2024) · Archer Aviation Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Feb 28, 2025
- S3Form 10-K, fiscal year 2023 (year ended Dec 31, 2023) · Archer Aviation Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Feb 29, 2024
- S4Form 10-K, fiscal year 2022 (year ended Dec 31, 2022) · Archer Aviation Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Mar 15, 2023
- S5Form 10-Q, Q2 fiscal 2026 (quarter ended Jun 30, 2026) · Archer Aviation Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Aug 10, 2026
- S6Form 10-Q, Q1 fiscal 2026 (quarter ended Mar 31, 2026) · Archer Aviation Inc. (SEC EDGAR) · Tier 1: company or exchange filing · May 11, 2026
- S7Form 10-Q, Q3 fiscal 2025 (quarter ended Sep 30, 2025) · Archer Aviation Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Nov 6, 2025
- S8Form 10-Q, Q2 fiscal 2025 (quarter ended Jun 30, 2025) · Archer Aviation Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Aug 11, 2025
- S9Form 10-Q, Q1 fiscal 2025 (quarter ended Mar 31, 2025) · Archer Aviation Inc. (SEC EDGAR) · Tier 1: company or exchange filing · May 12, 2025
- S10Form 10-Q, Q3 fiscal 2024 (quarter ended Sep 30, 2024) · Archer Aviation Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Nov 8, 2024
- S11Q2 2026 earnings release (8-K Exhibit 99.2) · Archer Aviation Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Aug 10, 2026
- S12Q2 2026 shareholder letter (8-K Exhibit 99.1) · Archer Aviation Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Aug 10, 2026
- S13Q1 2026 earnings release (8-K Exhibit 99.2) · Archer Aviation Inc. (SEC EDGAR) · Tier 1: company or exchange filing · May 11, 2026
- S15Q4 and full year 2025 earnings release (8-K Exhibit 99.2) · Archer Aviation Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Mar 2, 2026
- S16Q4 and FY 2025 shareholder letter (8-K Exhibit 99.1) · Archer Aviation Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Mar 2, 2026
- S17Q3 2025 earnings release (8-K Exhibit 99.2) · Archer Aviation Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Nov 6, 2025
- S18Q3 2025 shareholder letter (8-K Exhibit 99.1) · Archer Aviation Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Nov 6, 2025
- S19Q2 2025 earnings release (8-K Exhibit 99.2) · Archer Aviation Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Aug 11, 2025
- S20Q1 2025 earnings release (8-K Exhibit 99.2) · Archer Aviation Inc. (SEC EDGAR) · Tier 1: company or exchange filing · May 12, 2025
- S21Q4 and fiscal 2024 earnings release (8-K Exhibit 99.2) · Archer Aviation Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Feb 27, 2025
- S22Q3 2024 earnings release (8-K Exhibit 99.2) · Archer Aviation Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Nov 7, 2024
- S232026 proxy statement (DEF 14A), annual meeting Jun 26, 2026 · Archer Aviation Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Apr 30, 2026
- S248-K filed Aug 10, 2026: Equity Purchase Agreement with Boeing (Wisk, Insitu, SkyGrid) (Items 1.01, 3.02, 7.01) · Archer Aviation Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Aug 10, 2026
- S258-K filed Nov 12, 2025: Hawthorne Airport acquisition agreements (Item 1.01) · Archer Aviation Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Nov 12, 2025
- S278-K filed Sep 24, 2026: HSR waiting period expired for Boeing transaction (Item 7.01) · Archer Aviation Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Sep 24, 2026
- S288-K filed Oct 2, 2026: court ruling in Joby Aero v. Archer (Item 7.01) · Archer Aviation Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Oct 2, 2026
- S298-K filed Aug 18, 2026: vendor share issuances, resale of 8,261,273 shares (Items 3.02, 8.01) · Archer Aviation Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Aug 18, 2026
- S30Schedule 13G, State Street Corporation (6.4% as of Jun 30, 2026) · Archer Aviation Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Aug 7, 2026
- S31Schedule 13G/A, BlackRock, Inc. (6.9% as of Mar 31, 2026) · Archer Aviation Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Apr 24, 2026
- S32Schedule 13G/A, ARK Investment Management LLC and Catherine D. Wood (4.94% as of Apr 30, 2026) · Archer Aviation Inc. (SEC EDGAR) · Tier 1: company or exchange filing · May 7, 2026
- S33Schedule 13G/A, The Vanguard Group (0% reported, event Mar 13, 2026) · Archer Aviation Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Mar 26, 2026
- S34ACHR historical daily prices, Oct 20 to Nov 5, 2026 (Nasdaq.com historical table; ACHR is listed on the NYSE; close of Nov 5, 2026: $3.87) · Nasdaq, Inc. · Tier 1: company or exchange filing · Nov 5, 2026
- S35EDGAR submissions data, Archer Aviation Inc. (CIK 0001824502) · U.S. Securities and Exchange Commission · Tier 1: company or exchange filing · Nov 7, 2026
Changes to this page (v1 · Nov 7, 2026)
- v1 · Nov 7, 2026First version, through Q2 FY2026 (quarter ended Jun 30, 2026). Q3 FY2026 results were not filed as of Nov 7, 2026. (first version)
Numbers come only from tier 1 and tier 2 sources. Read how we research.
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Cityfort publishes general educational content that explains how listed companies work. Cityfort is not registered with the US Securities and Exchange Commission or any state securities regulator as an investment adviser, and is not a broker-dealer or a member of FINRA. Cityfort does not provide investment, tax or legal advice, recommendations, ratings, price targets or any opinion on whether to buy, sell or hold any security. Nothing on the site is tailored to any person's circumstances.
All information is taken from publicly available sources, mainly company filings with the SEC, which are listed on each page with dates. We work to keep it accurate and correct errors publicly, but we do not guarantee that it is complete, accurate or up to date. Any market price or price-based ratio shown is dated, may be out of date by the time you read it, and is included only to explain concepts.
Statements by company management, including forward-looking statements and guidance, are reported as the company's statements, with their date and source; they are not our forecasts. Adjusted (non-GAAP) figures are the company's own measures and are shown next to the official (GAAP) figures.