Archer Aviation Inc · Q3 2022 earnings

Briefing

Archer Aviation reported increased operating expenses and net loss for Q3 2022, while also achieving key milestones in aircraft development and commercialization efforts.

Archer Aviation reported a net loss of $91.0 million and total operating expenses of $93.8 million for the third quarter of 2022. The company achieved key milestones, including the first wing-borne flight of its Maker demonstrator aircraft and the announcement of a commercial eVTOL route with United Airlines.

• Completed first wing-borne flight with Maker demonstrator aircraft.
• Announced industry's first specific commercial eVTOL aircraft route in the US with United Airlines.
• Focused on completing 2022 goals: completing Maker’s full transition flight, FAA acceptance of Means of Compliance and selecting manufacturing site.
• To unveil Midnight production aircraft at upcoming Open House event.

Headline financials

Revenue & EPS history

For the fourth quarter of 2022, Archer anticipates GAAP total operating expenses of $100 million to $110 million and non-GAAP total operating expenses of $70 million to $80 million.