- \n
- \nAnnounced deal to acquire Boeing\u2019s Wisk Aero, Insitu and SkyGrid to create an end-to-end physical AI platform for aerospace and defense and adding over $200M in annual revenue to Archer\u2019s business with Boeing to invest in and collaborate with Archer.<\/p>\n<\/li>\n
- \nUnveiled Halo\/Thunder, the commercial and defense variants of Archer\u2019s jointly-developed autonomous, hybrid VTOL platform with Anduril.<\/p>\n<\/li>\n
- \nAnnounced ZEE, Archer\u2019s AI foundation model purpose-built for aviation and its frontier breakthrough for aviation safety.<\/p>\n<\/li>\n
- \nCompleted piloted city-to-city Midnight flights in preparation for operations later this year under the White House\u2019s eVTOL Integration Pilot Program (eIPP).<\/p>\n<\/li>\n<\/ul>\n
SANTA CLARA, Calif.–(BUSINESS WIRE<\/a>)–
\nArcher Aviation Inc. (\u201cArcher\u201d or the \u201cCompany\u201d) (NYSE: ACHR) today announced operating and financial results for the second quarter ended June 30, 2026. The Company issued a shareholder letter<\/a> from founder and CEO, Adam Goldstein, discussing highlights from the quarter.<\/p>\nThis press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20260810771607\/en\/<\/a><\/p>\n
![\"Pictured:](\"https:\/\/mms.businesswire.com\/media\/20260810771607\/en\/2872517\/4\/2026-0810_halo_earnings_16-9.jpg\")
<\/p>\nPictured: Halo, the commercial variant of Archer\u2019s autonomous, dual-use platform.<\/p>\n<\/div>\n
Commenting on second quarter 2026 results, Adam Goldstein said:<\/b><\/p>\n
\n\u201cToday is an important inflection point for Archer. With the planned acquisitions of Wisk, Insitu, and SkyGrid from Boeing, coupled with our recent unveiling of Halo, ZEE, and ACES, we are rapidly advancing our diversified, multi-platform strategy across air taxis, UAS and AI to lead the next generation of aerospace and defense.\u201d<\/p>\n
Live Webcast Details<\/b><\/p>\n
\nArcher will host a live webcast to discuss its results at 2:00 p.m. Pacific Time today. The live webcast and replay are accessible via Archer\u2019s investor relations website at investors.archer.com<\/a> or conference call by visiting https:\/\/events.q4inc.com\/attendee\/810358512<\/a><\/p>\n
Recent Highlights<\/b><\/p>\n
Archer to Acquire Boeing\u2019s Wisk Aero, Insitu and SkyGrid<\/b><\/p>\n
\nTransaction1<\/sup> to create an end-to-end physical AI platform for aerospace and defense, combining Wisk, Insitu and SkyGrid\u2019s pioneering autonomy and airspace intelligence technologies with Archer\u2019s leading purpose-built AI foundation model, ZEE. Insitu alone will add over $200M in annual revenue2<\/sup> to Archer\u2019s business with operations across 35 countries. As part of the transaction, Boeing is set to take a strategic stake in, and become a strategic partner to, Archer, establishing an ongoing Archer and Boeing collaboration and technology sharing arrangement.<\/p>\n
\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n 1<\/sup><\/td>\n \n \nThe transaction remains subject to the satisfaction of certain agreed-upon closing conditions.<\/p>\n<\/td>\n<\/tr>\n
\n 2<\/sup><\/td>\n \n \nBased on Insitu\u2019s current financials and financial estimates.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
Unveiled Dual-Use Autonomous, Hybrid VTOL Platform With Anduril<\/b><\/p>\n
\nIn July, Archer and Anduril unveiled their jointly-developed autonomous, hybrid VTOL aircraft platform at the Farnborough International Airshow, introduced as Thunder for defense missions and Halo for commercial applications. The two variants share the same airframe, hybrid powertrain and core systems, with configurable payload depending on mission requirements. Designed for low-cost, high-volume production using commercial supply chains, the platform behind Halo and Thunder is built to support broad deployment, rapid production and the scale commercial and defense markets require.<\/p>\n
Announced ZEE, Archer\u2019s AI Foundation Model Purpose-Built for Aviation<\/b><\/p>\n
\nArcher announced ZEE, its AI foundation model purpose-built for aviation, delivering a unified aviation intelligence platform built on ADS-B, ATC communication, maps and charts, aircraft state, terrain and weather data. The foundation model is designed to work both offline, on-device and as a server-hosted solution, critical for use in a wide range of aviation environments from air taxis and UAVs to commercial airlines and air traffic management. ZEE recently achieved a technical breakthrough demonstrating the capability to accurately predict real-time aircraft trajectories on the airport surface minutes into the future, giving the humans in the loop the most critical asset in aviation safety: time to react.<\/p>\n
Completed City-to-City Midnight flights In Preparation for eIPP Operations<\/b><\/p>\n
\nIn July, Archer’s Midnight aircraft completed a piloted round trip journey between Salinas Municipal Airport and Monterey Regional Airport, with each leg completed in approximately nine minutes compared to over 35 minutes by car. The flight was executed in close coordination with the FAA and marks a critical step toward Archer launching Midnight operations later this year under the eIPP.<\/p>\n
Second Quarter 2026 Financial Results<\/b><\/p>\n
\nWe reference several non-GAAP metrics in the financial discussion that follows. Unless otherwise noted or defined, our non-GAAP metrics are calculated by starting with the equivalent GAAP metric. A reconciliation of non-GAAP financial measures to the most comparable GAAP measures is provided below in the section titled \u201cGAAP to Non-GAAP Reconciliation\u201d.<\/p>\n
\n
\n \n SUMMARY FINANCIALS<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n(In millions; unaudited)<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n QUARTER ENDED<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n JUN 30,<\/b><\/p>\n
2026<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n MAR 31,<\/b><\/p>\n
2026<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n JUN 30,<\/b><\/p>\n
2025<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n REVENUE<\/b><\/p>\n<\/td>\n
\n \n$ 5.0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$ 1.6<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$ –<\/p>\n<\/td>\n<\/tr>\n
\n \n TOTAL OPERATING EXPENSES<\/b><\/p>\n<\/td>\n
\n \n284.2<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n256.2<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n176.1<\/p>\n<\/td>\n<\/tr>\n
\n \n NET LOSS<\/b><\/p>\n<\/td>\n
\n \n(263.2)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(217.7)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(206.0)<\/p>\n<\/td>\n<\/tr>\n
\n \n NON-GAAP TOTAL OPERATING EXPENSES<\/b><\/p>\n<\/td>\n
\n \n192.2<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n181.9<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n123.5<\/p>\n<\/td>\n<\/tr>\n
\n \n ADJUSTED EBITDA<\/b><\/p>\n<\/td>\n
\n \n(177.1)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(172.5)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(118.7)<\/p>\n<\/td>\n<\/tr>\n
\n \n CASH, CASH EQUIVALENTS & SHORT-TERM INVESTMENTS<\/b><\/p>\n<\/td>\n
\n \n1,560.6<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,775.9<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,724.0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
Key Financial Highlights<\/b><\/p>\n
Liquidity & Cash Flows<\/span><\/b><\/p>\n
- \n
- \nWe ended Q2 2026 with $1,560.6 million of cash, cash equivalents, and short-term investments on our balance sheet and an additional $7.3 million of restricted cash.<\/p>\n<\/li>\n
- \nOur Q2 2026 cash, cash equivalents, and short-term investments decreased by $215.3 million from Q1 2026, primarily due to the $156.4 million cash used in operating activities, $37.1 million used in the purchase of property and equipment and $25.0 million used in acquisition of the fixed based operator business at the Hawthorne Airport.<\/p>\n<\/li>\n<\/ul>\n
Revenue<\/span><\/b><\/p>\n
- \n
- \nOur Q2 2026 Revenue increased by $3.4 million from Q1 2026 to $5.0 million as we expanded operations at the Hawthorne Airport in LA.<\/p>\n<\/li>\n<\/ul>\n
Operating Expenses & Net Loss<\/span><\/b><\/p>\n
- \n
- \nQ2 2026 Operating Expenses increased by $28.0 million from Q1 2026 as we continued to invest in expanding flight testing, certification efforts, and production activities for our Midnight aircraft, along with the investment in the design and development efforts for our hybrid aircraft, and the development of ZEE, our AI foundation model.<\/p>\n<\/li>\n
- \nQ2 2026 Net Loss increased by $45.5 million from Q1 2026 primarily driven by $28.0 million increase in operating expenses, $18.8 million decrease primarily in non-cash gain for change in fair value of private and public warrants within other income (expense), net, and a $2.2 million decrease in interest income, net, offset by $3.4 million increase in revenue generated.<\/p>\n<\/li>\n<\/ul>\n
Adjusted EBITDA<\/span><\/b><\/p>\n
- \n
- \nQ2 2026 Adjusted EBITDA was a loss of $177.1 million, which is on the lower end of the guidance range of $170 million – $200 million. The loss was a planned increase of $4.6 million over Q1 2026, mainly due to the reasons mentioned above for the increase in operating expenses.<\/p>\n<\/li>\n<\/ul>\n
Q3 2026 Financial Estimates<\/span><\/b><\/p>\n
- \n
- \nArcher\u2019s financial estimates for the third quarter of 2026 are as follows:<\/p>\n
- \n
- \nAdjusted EBITDA expected to be a loss of $170 million to $200 million.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
\nWe have not reconciled our Adjusted EBITDA estimates because certain items that impact non-GAAP metrics are uncertain or out of our control and cannot be reasonably predicted. In particular, stock-based compensation expense and change in fair value of warrants is impacted by the future fair market value of our common stock and warrants along with other factors, all of which are difficult to predict, subject to frequent change, or not within our control. The actual amount of these expenses during the third quarter of 2026 will have a significant impact on our future GAAP financial results. Accordingly, a reconciliation of non-GAAP metrics is not available without unreasonable effort.<\/p>\n
About Archer<\/b><\/p>\n
\nArcher builds the aircraft and core technologies that will define the next era of flight for aerospace and defense.<\/p>\n
\n
\n \n ARCHER AVIATION INC.<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n CONDENSED CONSOLIDATED BALANCE SHEETS<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n(In millions; except par value; unaudited)<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n As of<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n Jun 30, 2026<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n Dec 31, 2025<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n Assets<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCurrent assets<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash and cash equivalents<\/p>\n<\/td>\n
\n \n$ 852.7<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$ 1,021.5<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRestricted cash<\/p>\n<\/td>\n
\n \n7.3<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n7.3<\/p>\n<\/td>\n<\/tr>\n
\n \n \nShort-term investments<\/p>\n<\/td>\n
\n \n707.9<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n943.2<\/p>\n<\/td>\n<\/tr>\n
\n \n \nPrepaid expenses<\/p>\n<\/td>\n
\n \n55.7<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n47.3<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther current assets<\/p>\n<\/td>\n
\n \n23.7<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n56.8<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal current assets<\/p>\n<\/td>\n
\n \n1,647.3<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2,076.1<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProperty and equipment, net<\/p>\n<\/td>\n
\n \n326.7<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n253.6<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIntangible assets, net<\/p>\n<\/td>\n
\n \n94.5<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n80.2<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRight-of-use assets<\/p>\n<\/td>\n
\n \n43.8<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n40.8<\/p>\n<\/td>\n<\/tr>\n
\n \n \nGoodwill<\/p>\n<\/td>\n
\n \n80.5<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n0.1<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther long-term assets<\/p>\n<\/td>\n
\n \n21.5<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n15.1<\/p>\n<\/td>\n<\/tr>\n
\n \n Total assets<\/b><\/p>\n<\/td>\n
\n \n$ 2,214.3<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$ 2,465.9<\/p>\n<\/td>\n<\/tr>\n
\n \n Liabilities and Stockholders\u2019 Equity<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCurrent liabilities<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccounts payable<\/p>\n<\/td>\n
\n \n$ 32.1<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$ 30.2<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCurrent portion of lease liabilities<\/p>\n<\/td>\n
\n \n6.8<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n5.3<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccrued expenses and other current liabilities<\/p>\n<\/td>\n
\n \n120.3<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n68.1<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCurrent portion of debt<\/p>\n<\/td>\n
\n \n2.1<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n0.8<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal current liabilities<\/p>\n<\/td>\n
\n \n161.3<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n104.4<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDebt, net of current liabilities<\/p>\n<\/td>\n
\n \n78.0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n79.5<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLease liabilities, net of current portion<\/p>\n<\/td>\n
\n \n38.7<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n36.3<\/p>\n<\/td>\n<\/tr>\n
\n \n \nWarrant liabilities<\/p>\n<\/td>\n
\n \n3.0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n29.9<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther long-term liabilities<\/p>\n<\/td>\n
\n \n17.7<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n13.0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal liabilities<\/p>\n<\/td>\n
\n \n298.7<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n263.1<\/p>\n<\/td>\n<\/tr>\n
\n \n \nStockholders\u2019 equity<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nClass A common stock, $0.0001 par value<\/p>\n<\/td>\n
\n \n0.1<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n0.1<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdditional paid-in capital<\/p>\n<\/td>\n
\n \n4,680.5<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n4,507.9<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccumulated deficit<\/p>\n<\/td>\n
\n \n(2,784.7)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(2,303.8)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccumulated other comprehensive loss<\/p>\n<\/td>\n
\n \n(3.6)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(1.4)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal stockholders\u2019 equity<\/p>\n<\/td>\n
\n \n1,892.3<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2,202.8<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNoncontrolling interest<\/p>\n<\/td>\n
\n \n23.3<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n<\/tr>\n
\n \n Total liabilities and stockholders\u2019 equity<\/b><\/p>\n<\/td>\n
\n \n$ 2,214.3<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$ 2,465.9<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n ARCHER AVIATION INC.<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n(In millions, except per share data; unaudited)<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n QUARTER ENDED<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n JUN 30,<\/b><\/p>\n
2026<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n MAR 31,<\/b><\/p>\n
2026<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n JUN 30,<\/b><\/p>\n
2025<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n Revenue<\/b><\/p>\n<\/td>\n
\n \n$ 5.0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$ 1.6<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$ –<\/p>\n<\/td>\n<\/tr>\n
\n \n Operating expenses:<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCost of revenue<\/p>\n<\/td>\n
\n \n4.3<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1.3<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n<\/tr>\n
\n \n \nResearch and development<\/p>\n<\/td>\n
\n \n186.0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n171.7<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n122.4<\/p>\n<\/td>\n<\/tr>\n
\n \n \nGeneral and administrative<\/p>\n<\/td>\n
\n \n93.9<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n83.2<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n53.7<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal operating expenses<\/p>\n<\/td>\n
\n \n284.2<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n256.2<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n176.1<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLoss from operations<\/p>\n<\/td>\n
\n \n(279.2)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(254.6)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(176.1)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther income (expense), net<\/p>\n<\/td>\n
\n \n1.8<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n20.6<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(40.0)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInterest income, net<\/p>\n<\/td>\n
\n \n14.2<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n16.4<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n10.2<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLoss before income taxes<\/p>\n<\/td>\n
\n \n(263.2)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(217.6)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(205.9)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIncome tax expense<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(0.1)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(0.1)<\/p>\n<\/td>\n<\/tr>\n
\n \n Net loss<\/b><\/p>\n<\/td>\n
\n (263.2)<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n (217.7)<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n (206.0)<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet income (loss) attributable to noncontrolling interest<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n<\/tr>\n
\n \n Net loss attributable to common stockholders<\/b><\/p>\n<\/td>\n
\n $ (263.2)<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n $ (217.7)<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n $ (206.0)<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet loss per share attributable to common stockholders, basic and diluted<\/p>\n<\/td>\n
\n \n$ (0.34)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$ (0.28)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$ (0.36)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nWeighted-average shares outstanding, basic and diluted<\/p>\n<\/td>\n
\n \n781.7<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n766.9<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n579.2<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n ARCHER AVIATION INC.<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n(In millions; unaudited)<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n SIX MONTHS ENDED<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n JUN 30,<\/b><\/p>\n
2026<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n JUN 30,<\/b><\/p>\n
2025<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n Cash flows from operating activities<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet loss<\/p>\n<\/td>\n
\n \n$ (480.9)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$ (299.4)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdjustments to reconcile net loss to net cash used in operating activities:<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDepreciation and amortization expense<\/p>\n<\/td>\n
\n \n17.9<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n8.9<\/p>\n<\/td>\n<\/tr>\n
\n \n \nStock-based compensation expense<\/p>\n<\/td>\n
\n \n156.0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n81.9<\/p>\n<\/td>\n<\/tr>\n
\n \n \nChange in fair value of warrant liabilities<\/p>\n<\/td>\n
\n \n(26.9)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(1.7)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNon-cash lease expense<\/p>\n<\/td>\n
\n \n3.7<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1.8<\/p>\n<\/td>\n<\/tr>\n
\n \n \nResearch and development warrant expense<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1.6<\/p>\n<\/td>\n<\/tr>\n
\n \n \nGeneral and administrative warrant expense<\/p>\n<\/td>\n
\n \n1.1<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLoss on disposal of property and equipment, net<\/p>\n<\/td>\n
\n \n0.6<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAmortization of short-term investments purchased at a premium<\/p>\n<\/td>\n
\n \n3.0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOthers<\/p>\n<\/td>\n
\n \n0.6<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nChanges in operating assets and liabilities:<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nPrepaid expenses<\/p>\n<\/td>\n
\n \n3.3<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n0.5<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther current assets<\/p>\n<\/td>\n
\n \n(7.6)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n0.9<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther long-term assets<\/p>\n<\/td>\n
\n \n(7.9)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(1.3)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccounts payable<\/p>\n<\/td>\n
\n \n0.9<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n5.4<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccrued expenses and other current liabilities<\/p>\n<\/td>\n
\n \n39.1<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n4.0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOperating lease right-of-use assets and lease liabilities, net<\/p>\n<\/td>\n
\n \n(2.8)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(2.2)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther long-term liabilities<\/p>\n<\/td>\n
\n \n(5.6)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1.6<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet cash used in operating activities<\/p>\n<\/td>\n
\n \n(305.5)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(198.0)<\/p>\n<\/td>\n<\/tr>\n
\n \n Cash flows from investing activities<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nPurchase of property and equipment<\/p>\n<\/td>\n
\n \n(69.7)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(28.9)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProceeds from maturities of short-term investments<\/p>\n<\/td>\n
\n \n230.0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAcquisition of intangible assets<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(5.2)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nBusiness acquisition, net of cash acquired<\/p>\n<\/td>\n
\n \n(28.7)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet cash provided by (used in) investing activities<\/p>\n<\/td>\n
\n \n131.6<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(34.1)<\/p>\n<\/td>\n<\/tr>\n
\n \n Cash flows from financing activities<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRepayment of long-term debt<\/p>\n<\/td>\n
\n \n(0.2)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProceeds from PIPE financing<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n10.0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProceeds from issuance of common stock<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,151.8<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProceeds from exercise of stock options<\/p>\n<\/td>\n
\n \n0.1<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProceeds from shares issued under employee stock purchase plan<\/p>\n<\/td>\n
\n \n5.2<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n3.8<\/p>\n<\/td>\n<\/tr>\n
\n \n \nPayment of offering costs in connection with financing activities<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(44.3)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet cash provided by financing activities<\/p>\n<\/td>\n
\n \n5.1<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,121.3<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet change in cash, cash equivalents, and restricted cash<\/p>\n<\/td>\n
\n \n(168.8)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n889.2<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash, cash equivalents, and restricted cash, beginning of period<\/p>\n<\/td>\n
\n \n1,028.8<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n841.3<\/p>\n<\/td>\n<\/tr>\n
\n \n Cash, cash equivalents, and restricted cash, end of period<\/b><\/p>\n<\/td>\n
\n $ 860.0<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n $ 1,730.5<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n
Reconciliation of Selected GAAP To Non-GAAP Results<\/b><\/p>\n
\nA reconciliation of total operating expenses to non-GAAP total operating expenses for the quarters ended June 30, 2026, March 31, 2026, and June 30, 2025, respectively, are set forth below.<\/p>\n
\n
\n \n RECONCILIATION OF OPERATING EXPENSES<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n(In millions; unaudited)<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n QUARTER ENDED<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n JUN 30,<\/b><\/p>\n
2026<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n MAR 31,<\/b><\/p>\n
2026<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n JUN 30,<\/b><\/p>\n
2025<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n TOTAL OPERATING EXPENSES<\/b><\/p>\n<\/td>\n
\n \n$ 284.2<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$ 256.2<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$ 176.1<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdjusted to exclude the following:<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nStellantis warrant expense (1)<\/sup><\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(0.8)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nGeneral and administrative warrant expense<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(1.1)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n<\/tr>\n
\n \n \nStock-based compensation expense (2)<\/sup><\/p>\n<\/td>\n
\n \n(85.6)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(70.4)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(51.8)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLitigation-related expense (3)<\/sup><\/p>\n<\/td>\n
\n \n(6.0)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAcquisition-related expenses (4)<\/sup><\/p>\n<\/td>\n
\n \n(0.4)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(2.8)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n<\/tr>\n
\n \n NON-GAAP TOTAL OPERATING EXPENSES<\/b><\/p>\n<\/td>\n
\n $ 192.2<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n $ 181.9<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n $ 123.5<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n
- \n
- \nAmounts include non-cash warrant costs, classified as research and development expenses, for the warrants issued to Stellantis in connection with certain services they are providing to the Company<\/p>\n<\/li>\n
- \nAmounts primarily include stock-based compensation expense for options and restricted stock units issued to employees, non-employees, including the grants issued to our founder and shares issued to vendors<\/p>\n<\/li>\n
- \nAmount reflects an accrued one-time litigation settlement-related cash expenses<\/p>\n<\/li>\n
- \nAmount reflect acquisition related cash expenses<\/p>\n<\/li>\n<\/ol>\n
Reconciliation of Selected GAAP To Non-GAAP Results<\/b><\/p>\n
\nA reconciliation of net loss to Adjusted EBITDA for the quarters ended June 30, 2026, March 31, 2026, and June 30, 2025, respectively, are set forth below.<\/p>\n
\n
\n \n RECONCILIATION OF ADJUSTED EBITDA<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n(In millions; unaudited)<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n QUARTER ENDED<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n JUN 30,<\/b><\/p>\n
2026<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n MAR 31,<\/b><\/p>\n
2026<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n JUN 30,<\/b><\/p>\n
2025<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n NET LOSS<\/b><\/p>\n<\/td>\n
\n \n$ (263.2)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$ (217.7)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$ (206.0)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdjusted to exclude the following:<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther (income) expense, net (1)<\/sup><\/p>\n<\/td>\n
\n \n(1.8)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(20.6)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n40.0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInterest income, net<\/p>\n<\/td>\n
\n \n(14.2)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(16.4)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(10.2)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIncome tax expense<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n0.1<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n0.1<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDepreciation and amortization expense<\/p>\n<\/td>\n
\n \n10.1<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n7.8<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n4.8<\/p>\n<\/td>\n<\/tr>\n
\n \n \nStellantis warrant expense (2)<\/sup><\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n0.8<\/p>\n<\/td>\n<\/tr>\n
\n \n \nGeneral and administrative warrant expense<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1.1<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n<\/tr>\n
\n \n \nStock-based compensation expense (3)<\/sup><\/p>\n<\/td>\n
\n \n85.6<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n70.4<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n51.8<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLitigation-related expense (4)<\/sup><\/p>\n<\/td>\n
\n \n6.0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAcquisition-related expenses (5)<\/sup><\/p>\n<\/td>\n
\n \n0.4<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2.8<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n<\/tr>\n
\n \n ADJUSTED EBITDA<\/b><\/p>\n<\/td>\n
\n $ (177.1)<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n $ (172.5)<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n $ (118.7)<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n
- \n
- \nAmounts primarily include changes in fair value of the public and private warrants, which are classified as warrant liabilities<\/p>\n<\/li>\n
- \nAmounts include non-cash warrant costs, classified as research and development expenses, for the warrants issued to Stellantis in connection with certain services they are providing to the Company<\/p>\n<\/li>\n
- \nAmounts primarily include stock-based compensation expense for options and restricted stock units issued to employees, non-employees, including the grants issued to our founder and shares issued to vendors<\/p>\n<\/li>\n
- \nAmount reflects an accrued one-time litigation settlement-related cash expenses<\/p>\n<\/li>\n
- \nAmounts reflect acquisition-related cash expenses<\/p>\n<\/li>\n<\/ol>\n
Non-GAAP Financial Measures<\/b><\/p>\n
\nTo supplement our consolidated financial results prepared in accordance with GAAP, we use the following non-GAAP financial measures: Non-GAAP total operating expenses and Adjusted EBITDA. The presentation of these financial measures is not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP. Investors are cautioned that there are material limitations associated with the use of non-GAAP financial measures as an analytical tool. In particular, these non-GAAP financial measures have no standardized meaning prescribed by GAAP and are not based on a comprehensive set of accounting rules or principles and many of the adjustments to the GAAP financial measures reflect the exclusion of items that are recurring and may be reflected in our financial results for the foreseeable future. In addition, these measures may be different from non-GAAP financial measures used by other companies, limiting their usefulness for comparison purposes. We compensate for these limitations by providing specific information regarding the GAAP amounts excluded from these non-GAAP financial measures.<\/p>\n
\nWe believe that the use of non-GAAP financial measures help us evaluate our business and financial performance, identify trends impacting our business, formulate business plans and financial projections, and make strategic decisions. We believe that disclosing non-GAAP financial measures to the readers of our financial statements provides useful supplemental data that, while not a substitute for GAAP financial measures, can offer insight in the review of our operating and financial results and enables investors to more fully understand our performance and cash trends by removing the effects of certain non-cash expenses and non-recurring items.<\/p>\n
\nWe excluded items in the following general categories from one or more of our non-GAAP financial measures, certain of which are described below:<\/p>\n
STOCK-BASED COMPENSATION EXPENSE<\/b><\/p>\n
\nWe exclude stock-based compensation expense, which is a non-cash expense, from these non-GAAP financial measures because we believe that excluding this item provides meaningful supplemental information on our operating results and enhances our ability and the ability of the investors to understand the impact of non-cash stock-based compensation expense on our operating results.<\/p>\n
WARRANT EXPENSE & GAINS OR LOSSES FROM REVALUATION OF WARRANTS<\/b><\/p>\n
\nExpense from our common stock warrants issued to Stellantis, which is recurring (but non-cash), expense from one-time issuance of warrant and gains or losses from change in fair value of public and private warrants from revaluation will be reflected in our financial results for the foreseeable future. We exclude warrant expense and gains or losses from change in fair value for similar reasons to our stock-based compensation expense.<\/p>\n
LITIGATION-RELATED EXPENSE<\/b><\/p>\n
\nWe exclude one-time accrued cash expenses incurred related to litigation settlement, from these non-GAAP financial measures because we believe these transaction-specific expenses are inconsistent in amount and frequency and do not correlate to the operation of our business and excluding these provides meaningful supplemental information on our operating results and enhances our ability and the ability of the investors to understand the impact of non-recurring litigation-related expense on our operating results.<\/p>\n
ACQUISITION-RELATED EXPENSE<\/b><\/p>\n
\nWe exclude cash expenses, including diligence, legal, advisory and other costs incurred with acquisitions, from these non-GAAP financial measures because we believe these transaction-specific expenses are inconsistent in amount and frequency and do not correlate to the operation of our business and excluding these provides meaningful supplemental information on our operating results and enhances our ability and the ability of the investors to understand the impact of non-recurring acquisition-related expense on our operating results.<\/p>\n
<\/p>\n
View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260810771607\/en\/<\/a><\/span><\/p>\n
For Investors
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investors@archer.com<\/a><\/p>\nFor Media
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The Brand Amp
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Archer@TheBrandAmp.com<\/a><\/p>\nKEYWORDS:<\/b> California United States North America<\/p>\n
INDUSTRY KEYWORDS:<\/b> Technology Contracts Air Transport Aerospace Manufacturing Government Technology Artificial Intelligence Defense<\/p>\n
- \nAdjusted EBITDA expected to be a loss of $170 million to $200 million.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
- \nArcher\u2019s financial estimates for the third quarter of 2026 are as follows:<\/p>\n
- \nQ2 2026 Adjusted EBITDA was a loss of $177.1 million, which is on the lower end of the guidance range of $170 million – $200 million. The loss was a planned increase of $4.6 million over Q1 2026, mainly due to the reasons mentioned above for the increase in operating expenses.<\/p>\n<\/li>\n<\/ul>\n
- \nOur Q2 2026 Revenue increased by $3.4 million from Q1 2026 to $5.0 million as we expanded operations at the Hawthorne Airport in LA.<\/p>\n<\/li>\n<\/ul>\n
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