Archer Aviation Inc. ACHR
Archer is developing the technologies and aircraft to power the future of advanced aviation. We are building a platform to deliver advanced aircraft, technologies and services to customers worldwide across commercial and defense sectors.
Midnight is our electric vertical take-off and landing ("eVTOL") aircraft purpose-built for air taxi operations globally. To prepare for commercial operations, we are working with aviation authorities, governments, and strategic partners in key U.S. and international markets to certify Midnight and build out air taxi networks. These planned networks will connect major population and business centers with key transportation hubs in select metropolitan areas through partnerships with airline operators to integrate eVTOL flights into passenger journeys and collaborations with infrastructure partners to develop vertiports.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $300.0K | $0 | $0 | — | — | — | — |
| Cost of revenue | $200.0K | $0 | $0 | — | — | — | — |
| Gross profit | $100.0K | $0 | $0 | — | — | — | — |
| R&D | $493.9M | $357.7M | $276.4M | $171.5M | $64.3M | $21.1M | — |
| SG&A | — | — | $168.4M | $165.1M | $176.7M | $3.5M | — |
| Total operating expenses | $729.6M | $509.7M | $446.9M | $347.4M | $358.3M | $24.6M | — |
| Operating income | -$729.3M | -$509.7M | -$446.9M | -$347.4M | -$358.3M | -$24.6M | — |
| Interest expense | — | — | — | — | $1.0M | $200.0K | — |
| Pre-tax income | -$617.9M | -$536.6M | -$457.4M | -$317.3M | -$347.8M | -$24.8M | — |
| Income tax | $300.0K | $200.0K | $500.0K | $0 | $0 | — | — |
| Net income | -$618.2M | -$536.8M | -$457.9M | -$317.3M | -$347.8M | -$24.8M | — |
| EPS, basic | -0.99 | -1.42 | -1.69 | -1.32 | -3.14 | -0.49 | — |
| EPS, diluted | -0.99 | -1.42 | -1.69 | -1.32 | -3.14 | -0.49 | — |
| Shares, diluted (wtd. avg.) | 624.3M | 376.7M | 270.4M | 240.5M | 110.8M | 50.2M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.02B | $834.5M | $471.5M | $72.3M | $746.9M | $36.6M | $10.1M |
| Short-term investments | $943.2M | $0 | $0 | $461.8M | $0 | — | — |
| Total current assets | $2.08B | $858.4M | $480.2M | $545.5M | $754.8M | $37.4M | — |
| Property, plant and equipment | $253.6M | $126.8M | $57.6M | $11.5M | $5.9M | $1.6M | — |
| Goodwill | $100.0K | $0 | — | — | — | — | — |
| Other intangibles | $80.2M | $300.0K | $400.0K | $400.0K | $500.0K | $500.0K | — |
| Total assets | $2.47B | $1.00B | $554.3M | $573.8M | $768.4M | $41.8M | — |
| Accounts payable | $30.2M | $14.6M | $14.3M | $3.6M | $3.4M | $2.1M | — |
| Short-term debt | $800.0K | $0 | $0 | $9.3M | $9.5M | $600.0K | — |
| Total current liabilities | $104.4M | $71.1M | $114.0M | $53.3M | $28.3M | $3.8M | — |
| Long-term debt | $79.5M | $64.0M | $7.2M | $0 | $9.3M | $300.0K | — |
| Total liabilities | $263.1M | $248.6M | $187.2M | $80.5M | $69.5M | $5.9M | — |
| Retained earnings | -$2.30B | -$1.69B | -$1.15B | -$690.9M | -$373.6M | -$25.8M | — |
| Total equity | $2.20B | $752.6M | $367.1M | $493.3M | $698.9M | $35.9M | $4.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$432.9M | -$368.6M | -$271.6M | -$200.4M | -$108.4M | -$22.8M | — |
| Depreciation and amortisation | $20.0M | $11.7M | $6.5M | $3.1M | $1.3M | $100.0K | — |
| Stock-based compensation | $223.5M | $108.8M | $45.2M | $102.8M | $123.6M | $200.0K | — |
| Capital expenditure | $78.8M | $82.0M | $44.3M | $6.9M | $3.5M | $1.4M | — |
| Investing cash flow | -$1.18B | -$82.0M | $420.7M | -$464.3M | -$3.5M | -$1.9M | — |
| Financing cash flow | $1.80B | $820.4M | $250.1M | -$9.9M | $822.2M | $51.2M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001824502-26-000019.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | $0 | $0 | $300.0K |
| Gross profit | — | — | — | — | $0 | $0 | $100.0K |
| Net income | — | -$24.8M | -$347.8M | -$317.3M | -$457.9M | -$536.8M | -$618.2M |
Recent filings and events
- Delisting notice The exchange has told the company it no longer meets the rules for staying listed - usually price, market cap, or filings that are late. Item 3.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Other event Item 8.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Unregistered share sale Item 3.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Other event Item 8.01
- Results announced Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 3721
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| BA | BOEING CO | $148.87B | 75.9x | 34.5% |
| AVAV | AeroVironment Inc | $6.24B | — | 140.9% |
| JOBY | Joby Aviation, Inc. | $4.71B | — | 39,183.1% |
| BETA | BETA Technologies, Inc. | $4.59B | — | 136.0% |
| EVEX | Eve Holding, Inc. | $571.5M | — | — |
| AIRO | AIRO Group Holdings, Inc. | $149.9M | — | 4.6% |
| HOVR | New Horizon Aircraft Ltd. | $85.5M | — | — |
| UAVS | AgEagle Aerial Systems Inc. | $38.1M | — | -4.3% |