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Archer Aviation (ACHR) Financials

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Annual Income Statements for Archer Aviation

Annual Income Statements for Archer Aviation

This table shows Archer Aviation's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -25 -348 -317 -458 -537 -618
Consolidated Net Income / (Loss)		 -25 -348 -317 -458 -537 -618
Net Income / (Loss) Continuing Operations		 -25 -348 -317 -458 -537 -618
Total Pre-Tax Income 		-25 -348 -317 -457 -537 -618
Total Operating Income		 -25 -358 -347 -447 -510 -729
Total Gross Profit		 0.00 0.00 0.00 0.00 0.00 0.00
Total Revenue		 0.00 0.00 0.00 0.00 0.00 0.30
Operating Revenue		 - - - 0.00 0.00 0.30
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00 0.30
Operating Cost of Revenue		 - - - 0.00 0.00 0.30
Total Operating Expenses		 25 358 347 447 510 729
Selling, General & Admin Expense		 3.50 177 165 168 152 235
Research & Development Expense		 21 64 172 276 358 494
Other Operating Expenses / (Income)		 0.00 117 11 2.10 0.00 0.00
Total Other Income / (Expense), net		 -0.20 11 30 -11 -27 111
Interest & Investment Income		 - -1.00 2.30 16 22 53
Other Income / (Expense), net		 0.00 11 28 -27 -49 59
Income Tax Expense		 - 0.00 0.00 0.50 0.20 0.30
Basic Earnings per Share		 ($0.49) ($3.14) ($1.32) ($1.69) ($1.42) ($0.99)
Weighted Average Basic Shares Outstanding		 50.16M 110.84M 240.48M 270.41M 376.73M 624.31M
Diluted Earnings per Share		 ($0.49) ($3.14) ($1.32) ($1.69) ($1.42) ($0.99)
Weighted Average Diluted Shares Outstanding		 50.16M 110.84M 240.48M 270.41M 376.73M 624.31M
Weighted Average Basic & Diluted Shares Outstanding		 - 234.96M 247.36M 310.57M 542.47M 744.54M

Quarterly Income Statements for Archer Aviation

This table shows Archer Aviation's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025
Total Revenue		 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 0.30
Total Cost of Revenue		 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 0.30
Net Income / (Loss) Attributable to Common Shareholders		 -184 -52 -109 -117 -107 -115 -198 -93 -206 -130 -189
Consolidated Net Income / (Loss)		 -184 -52 -109 -117 -107 -115 -198 -93 -206 -130 -189
Net Income / (Loss) Continuing Operations		 -184 -52 -109 -117 -107 -115 -198 -93 -206 -130 -189
Total Pre-Tax Income 		-184 -52 -109 -116 -107 -115 -198 -93 -206 -130 -189
Total Operating Income		 -181 -46 -107 -142 -121 -122 -124 -144 -176 -175 -234
Total Operating Expenses		 181 46 107 142 121 122 124 144 176 175 234
Selling, General & Admin Expense		 118 -22 28 59 31 32 30 40 54 54 87
Research & Development Expense		 63 68 80 84 90 90 95 104 122 121 147
Total Other Income / (Expense), net		 -2.50 -5.30 -1.60 26 14 6.90 -74 51 -30 45 46
Interest & Investment Income		 4.10 5.10 5.60 5.30 5.10 5.50 6.00 8.70 10 16 18
Other Income / (Expense), net		 -6.60 -10 -7.20 21 9.30 1.40 -80 42 -40 29 28
Basic Earnings per Share		 ($0.73) ($0.19) ($0.31) ($0.36) ($0.32) ($0.29) ($0.45) ($0.17) ($0.36) ($0.20) ($0.26)
Weighted Average Basic Shares Outstanding		 251.02M 277.68M 270.41M 320.26M 334.07M 397.52M 376.73M 540.43M 579.17M 660.89M 624.31M
Diluted Earnings per Share		 ($0.73) ($0.19) ($0.31) ($0.36) ($0.32) ($0.29) ($0.45) ($0.17) ($0.36) ($0.20) ($0.26)
Weighted Average Diluted Shares Outstanding		 251.02M 277.68M 270.41M 320.26M 334.07M 397.52M 376.73M 540.43M 579.17M 660.89M 624.31M
Weighted Average Basic & Diluted Shares Outstanding		 255.74M 300.78M 310.57M 323.56M 355.55M 425.27M 542.47M 549.01M 645.03M 651.34M 744.54M

Annual Cash Flow Statements for Archer Aviation

This table details how cash moves in and out of Archer Aviation's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 27 710 -675 399 370 188
Net Cash From Operating Activities		 -23 -108 -200 -272 -369 -433
Net Cash From Continuing Operating Activities		 -23 -108 -200 -272 -369 -433
Net Income / (Loss) Continuing Operations		 -25 -348 -317 -458 -537 -618
Consolidated Net Income / (Loss)		 -25 -348 -317 -458 -537 -618
Depreciation Expense		 0.20 1.30 4.40 6.50 12 20
Amortization Expense		 0.00 0.20 -4.40 -1.60 0.00 0.70
Non-Cash Adjustments To Reconcile Net Income		 0.50 236 94 171 170 166
Changes in Operating Assets and Liabilities, net		 1.30 1.50 23 11 -14 -1.10
Net Cash From Investing Activities		 -1.90 -3.50 -464 421 -82 -1,176
Net Cash From Continuing Investing Activities		 -1.90 -3.50 -464 421 -82 -1,176
Purchase of Property, Plant & Equipment		 -1.40 -3.50 -6.90 -44 -82 -79
Acquisitions		 -0.50 - - 0.00 0.00 -152
Purchase of Investments		 - 0.00 -487 0.00 0.00 -1,048
Sale and/or Maturity of Investments		 - 0.00 30 465 0.00 103
Net Cash From Financing Activities		 51 822 -9.90 250 820 1,796
Net Cash From Continuing Financing Activities		 51 822 -9.90 250 820 1,796
Repayment of Debt		 0.00 -0.20 -10 -10 -0.70 0.00
Repurchase of Common Equity		 - 0.00 0.00 -7.20 -25 -69
Issuance of Debt		 0.90 20 0.00 7.50 58 0.00
Issuance of Common Equity		 0.00 600 0.00 243 650 1,819
Other Financing Activities, net		 0.00 202 0.10 17 138 46
Cash Interest Paid		 0.00 0.70 1.50 0.80 2.50 4.10

Quarterly Cash Flow Statements for Archer Aviation

This table details how cash moves in and out of Archer Aviation's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025
Net Change in Cash & Equivalents		 108 54 2.80 -59 -45 141 333 196 694 -1,128 426
Net Cash From Operating Activities		 -57 -67 -84 -87 -81 -97 -104 -95 -103 -106 -129
Net Cash From Continuing Operating Activities		 -57 -67 -84 -87 -81 -97 -104 -95 -103 -106 -129
Net Income / (Loss) Continuing Operations		 -184 -52 -109 -117 -107 -115 -198 -93 -206 -130 -189
Consolidated Net Income / (Loss)		 -184 -52 -109 -117 -107 -115 -198 -93 -206 -130 -189
Depreciation Expense		 1.10 2.10 2.30 2.30 2.60 3.30 3.50 4.10 4.80 5.10 6.00
Amortization Expense		 -0.20 0.20 0.20 - - - - - - - 0.60
Non-Cash Adjustments To Reconcile Net Income		 117 -10 27 28 15 22 106 -11 92 24 60
Changes in Operating Assets and Liabilities, net		 9.30 -7.10 -4.60 0.20 8.80 -7.60 -15 5.70 5.40 -4.90 -7.30
Net Cash From Investing Activities		 143 -16 -9.00 -17 -21 -20 -24 -10 -24 -1,069 -73
Net Cash From Continuing Investing Activities		 143 -16 -9.00 -17 -21 -20 -24 -10 -24 -1,069 -73
Purchase of Property, Plant & Equipment		 -8.10 -16 -9.00 -17 -21 -20 -24 -10 -19 -20 -30
Acquisitions		 - - - - - - - - - -0.10 -147
Net Cash From Financing Activities		 23 137 96 45 56 258 462 300 821 46 629
Net Cash From Continuing Financing Activities		 23 137 96 45 56 258 462 300 821 46 629
Repurchase of Common Equity		 - - - 0.00 - - -17 -12 -33 0.10 -25
Issuance of Common Equity		 26 145 92 34 42 234 479 10 3.80 46 1,759
Other Financing Activities, net		 -1.20 - -1.20 0.00 - -0.30 - 302 850 - -1,106
Cash Interest Paid		 0.20 0.20 0.10 0.20 0.50 0.70 1.10 1.00 1.10 1.00 1.00

Annual Balance Sheets for Archer Aviation

This table presents Archer Aviation's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 42 768 574 554 1,001 2,466
Total Current Assets		 37 755 546 480 858 2,076
Cash & Equivalents		 37 747 69 465 835 1,022
Restricted Cash		 - 0.30 2.90 6.90 6.80 7.30
Short-Term Investments		 - 0.00 462 - 0.00 943
Prepaid Expenses		 0.80 7.60 9.80 7.90 13 47
Other Current Assets		 0.00 0.30 1.60 0.80 4.60 57
Plant, Property, & Equipment, net		 1.60 5.90 12 58 127 254
Total Noncurrent Assets		 2.80 7.70 17 17 16 136
Goodwill		 - - - - 0.00 0.10
Intangible Assets		 0.50 0.50 0.40 0.40 0.30 80
Other Noncurrent Operating Assets		 2.30 7.20 16 16 16 56
Total Liabilities & Shareholders' Equity		 42 768 574 554 1,001 2,466
Total Liabilities		 5.90 70 81 187 249 263
Total Current Liabilities		 3.80 28 53 114 71 104
Short-Term Debt		 0.60 9.50 9.30 - 0.00 0.80
Accounts Payable		 2.10 3.40 3.60 14 15 30
Other Current Liabilities		 1.10 15 40 100 57 73
Total Noncurrent Liabilities		 2.10 41 27 73 178 159
Long-Term Debt		 0.30 9.30 0.00 7.20 64 80
Other Noncurrent Operating Liabilities		 1.80 32 27 66 114 79
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 36 699 493 367 753 2,203
Total Preferred & Common Equity		 36 699 493 367 753 2,203
Total Common Equity		 36 699 493 367 753 2,203
Common Stock		 62 1,073 1,185 1,516 2,439 4,508
Retained Earnings		 -26 -374 -691 -1,149 -1,686 -2,304
Accumulated Other Comprehensive Income / (Loss)		 - 0.00 -0.80 0.00 -0.30 -1.40

Quarterly Balance Sheets for Archer Aviation

This table presents Archer Aviation's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025
Total Assets		 638 506 482 540 511 484 652 1,215 1,938 1,900
Total Current Assets		 615 466 423 476 422 375 523 1,065 1,757 1,692
Cash & Equivalents		 113 299 408 461 406 360 502 1,030 1,724 596
Restricted Cash		 2.90 7.20 7.20 7.30 6.70 6.70 6.70 6.50 6.50 7.30
Short-Term Investments		 488 151 0.00 0.00 - - - - - 1,046
Prepaid Expenses		 11 6.70 6.60 3.90 7.70 5.40 11 22 23 31
Other Current Assets		 1.00 2.10 1.20 3.10 1.80 2.50 3.60 5.80 3.70 13
Plant, Property, & Equipment, net		 9.90 25 42 50 72 93 113 132 148 168
Total Noncurrent Assets		 12 15 17 14 17 16 15 18 33 40
Intangible Assets		 0.40 0.40 0.40 0.40 0.40 0.40 0.40 0.30 5.50 5.30
Other Noncurrent Operating Assets		 12 15 16 14 16 16 15 17 28 34
Total Liabilities & Shareholders' Equity		 638 506 482 540 511 484 652 1,215 1,938 1,900
Total Liabilities		 80 96 205 175 132 150 184 203 257 245
Total Current Liabilities		 44 64 158 117 70 84 87 67 79 93
Accounts Payable		 5.20 6.40 15 16 14 25 24 15 23 24
Other Current Liabilities		 29 51 139 99 56 59 63 53 56 69
Total Noncurrent Liabilities		 37 32 48 58 62 66 97 136 179 152
Long-Term Debt		 2.30 - - - 18 33 64 64 64 64
Capital Lease Obligations		 7.60 8.80 - 14 12 - 11 10 - 19
Other Noncurrent Operating Liabilities		 27 23 48 45 31 34 22 62 115 69
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 557 410 276 365 379 334 468 1,011 1,681 1,654
Total Preferred & Common Equity		 557 410 276 365 379 334 468 1,011 1,681 1,654
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 557 410 276 365 379 334 468 1,011 1,681 1,654
Common Stock		 1,154 1,214 1,264 1,404 1,645 1,706 1,955 2,791 3,666 3,772
Retained Earnings		 -596 -804 -988 -1,040 -1,265 -1,372 -1,488 -1,779 -1,985 -2,115
Accumulated Other Comprehensive Income / (Loss)		 -1.20 -0.10 0.00 0.00 0.00 -0.10 -0.10 -0.20 -0.10 -2.40

Annual Metrics And Ratios for Archer Aviation

This table displays calculated financial ratios and metrics derived from Archer Aviation's official financial filings.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 - - - - - 651,341,543.00
DEI Adjusted Shares Outstanding		 - - - - - 651,341,543.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - -0.95
Growth Metrics		 - - - - - -
Profitability Metrics		 - - - - - -
Net Operating Profit after Tax (NOPAT)		 -17 -251 -243 -313 -357 -511
Return On Investment Capital (ROIC_SIMPLE)		 - - -48.38% -83.58% -43.69% -22.36%
Earnings before Interest and Taxes (EBIT)		 -25 -348 -320 -474 -559 -671
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -24 -346 -320 -469 -547 -650
Valuation Ratios		 - - - - - -
Leverage & Solvency		 - - - - - -
Liquidity Ratios		 - - - - - -
Cash Flow Metrics		 - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -221 -241 -247 -429 -846
Efficiency Ratios		 - - - - - -
Capital & Investment Metrics		 - - - - - -
Invested Capital		 0.20 -29 -32 -97 -25 311
Increase / (Decrease) in Invested Capital		 0.00 -29 -2.30 -66 73 336
Book Value per Share		 $0.56 $2.94 $2.03 $1.22 $1.77 $3.38
Tangible Book Value per Share		 $0.55 $2.94 $2.03 $1.22 $1.77 $3.26
Total Capital		 37 718 503 374 817 2,283
Total Debt		 0.90 19 9.30 7.20 64 80
Total Long-Term Debt		 0.30 9.30 0.00 7.20 64 80
Net Debt		 -36 -728 -525 -464 -777 -1,892
Capital Expenditures (CapEx)		 1.40 3.50 6.90 44 82 79
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -2.40 -11 -33 -105 -54 0.50
Debt-free Net Working Capital (DFNWC)		 34 736 502 366 787 1,973
Net Working Capital (NWC)		 34 727 492 366 787 1,972
Net Nonoperating Expense (NNE)		 7.58 97 74 145 180 108
Net Nonoperating Obligations (NNO)		 -36 -728 -525 -464 -777 -1,892
Total Depreciation and Amortization (D&A)		 0.20 1.50 0.00 4.90 12 21
Earnings Adjustments		 - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($3.14) ($1.32) ($1.69) ($1.42) ($0.99)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 110.84M 240.48M 270.41M 376.73M 624.31M
Adjusted Diluted Earnings per Share		 $0.00 ($3.14) ($1.32) ($1.69) ($1.42) ($0.99)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 110.84M 240.48M 270.41M 376.73M 624.31M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 234.96M 247.36M 310.57M 542.47M 744.54M
Normalized Net Operating Profit after Tax (NOPAT)		 -17 -251 -243 -313 -357 -511
Debt Service Ratios		 - - - - - -
Payout Ratios		 - - - - - -

Quarterly Metrics And Ratios for Archer Aviation

This table displays calculated financial ratios and metrics derived from Archer Aviation's official financial filings.

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025
DEI Shares Outstanding		 - - - - - - - - - - 651,341,543.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 651,341,543.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - -0.29
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Net Operating Profit after Tax (NOPAT)		 -127 -32 -75 -100 -85 -85 -87 -101 -123 -122 -164
Return On Investment Capital (ROIC_SIMPLE)		 - - -20.07% - - - -10.65% -9.29% -7.06% -7.04% -7.19%
Earnings before Interest and Taxes (EBIT)		 -188 -57 -115 -122 -112 -121 -204 -102 -216 -146 -207
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -187 -54 -112 -119 -109 -117 -201 -98 -211 -141 -200
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -18 29 -9.41 -128 -218 -208 -159 -152 -138 -177 -500
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -134 -88 -97 -2.80 -0.40 34 -25 49 15 89 311
Increase / (Decrease) in Invested Capital		 -109 -61 -66 28 134 123 73 52 15 55 336
Book Value per Share		 $1.12 $1.43 $1.22 $1.22 $1.03 $1.32 $1.77 $1.86 $3.06 $2.56 $3.38
Tangible Book Value per Share		 $1.12 $1.42 $1.22 $1.22 $1.03 $1.31 $1.77 $1.86 $3.05 $2.56 $3.26
Total Capital		 281 380 374 410 367 543 817 1,086 1,745 1,738 2,283
Total Debt		 4.60 16 7.20 31 33 75 64 74 64 83 80
Total Long-Term Debt		 0.00 14 7.20 31 33 75 64 74 64 83 80
Net Debt		 -410 -453 -464 -382 -334 -434 -777 -963 -1,666 -1,565 -1,892
Capital Expenditures (CapEx)		 8.10 16 9.00 17 21 20 24 10 19 20 30
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -145 -108 -105 -61 -76 -72 -54 -39 -52 -50 0.50
Debt-free Net Working Capital (DFNWC)		 270 361 366 352 291 436 787 998 1,678 1,599 1,973
Net Working Capital (NWC)		 265 359 366 352 291 436 787 998 1,678 1,599 1,972
Net Nonoperating Expense (NNE)		 57 19 34 17 22 30 111 -7.40 83 7.54 25
Net Nonoperating Obligations (NNO)		 -410 -453 -464 -382 -334 -434 -777 -963 -1,666 -1,565 -1,892
Total Depreciation and Amortization (D&A)		 0.90 2.30 2.50 2.30 2.60 3.30 3.50 4.10 4.80 5.10 6.60
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.73) ($0.19) ($0.31) ($0.36) ($0.32) ($0.29) ($0.45) ($0.17) ($0.36) ($0.20) ($0.26)
Adjusted Weighted Average Basic Shares Outstanding		 251.02M 277.68M 270.41M 320.26M 334.07M 397.52M 376.73M 540.43M 579.17M 660.89M 624.31M
Adjusted Diluted Earnings per Share		 ($0.73) ($0.19) ($0.31) ($0.36) ($0.32) ($0.29) ($0.45) ($0.17) ($0.36) ($0.20) ($0.26)
Adjusted Weighted Average Diluted Shares Outstanding		 251.02M 277.68M 270.41M 320.26M 334.07M 397.52M 376.73M 540.43M 579.17M 660.89M 624.31M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 255.74M 300.78M 310.57M 323.56M 355.55M 425.27M 542.47M 549.01M 645.03M 651.34M 744.54M
Normalized Net Operating Profit after Tax (NOPAT)		 -127 -32 -75 -100 -85 -85 -87 -101 -123 -122 -164
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Financials Breakdown Chart

Key Financial Trends

Archer Aviation (ACHR) has been in a heavy investment, pre-revenue phase for several years. The latest Q4 2025 results show a small step toward revenue generation, but operating losses persist as R&D and SG&A remain outsized. Below are the most relevant trends observed across the last four years of quarterly data.

  • Strong liquidity boost from equity financing in late 2025: Issuance of Common Equity in Q4 2025 totaled about $1.76B, with net cash from continuing financing activities around $628.7M and a net cash increase of about $426M for the quarter. This provides a substantial runway to fund ongoing development and scale efforts.
  • Substantial cash and investments on hand (mid-2025): Cash & equivalents were about $1.72B and short-term investments around $1.05B in Q2 2025, highlighting strong liquidity headroom to support operations and R&D.
  • First clear revenue in late 2025, signaling early top-line traction: Q4 2025 total revenue was $0.3M with cost of revenue also at $0.3M, indicating initial revenue generation steps alongside ongoing spend.
  • Equity base supports a large positive equity balance on the books: Total equity roughly $1.65B in mid-2025 (Q3 2025), providing a solid cushion relative to ongoing losses.
  • Moderate debt position relative to equity: Long-term debt around $64M and total liabilities about $245M (Q3 2025), suggesting manageable leverage given the current capital structure.
  • Ongoing high operating costs despite revenue: In Q4 2025, SG&A was $87.3M and R&D was $147.1M, with total operating expenses of $234.4M, underscoring continued cash burn before scale occurs.
  • Persistent negative cash flow from operations in recent quarters: Net cash from continuing operating activities was negative in multiple periods (e.g., Q4 2025 about -$129.3M; Q3 2025 about -$105.6M; Q2 2025 about -$103.4M), indicating ongoing cash burn from core operations despite financing support.
  • Revenue scale remains far from profitability: Even with a small quarterly revenue in late 2025, revenue levels are a fraction of operating expenses, implying profitability is likely contingent on substantial top-line growth and/or cost efficiencies over time.
  • Continued quarterly losses at the bottom line: Q4 2025 net income attributable to common shareholders was -$188.9M; similar sizable losses occurred in recent prior quarters (e.g., Q3 2025 and Q2 2025). This underscores ongoing profitability challenges in the near term.
  • The company remains financing-dependent for runway: The large equity issuance in 2025 indicates reliance on capital raises; future funding conditions could affect liquidity if capital markets tighten or investor demand shifts.
05/07/26 09:13 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Archer Aviation's Financials

When does Archer Aviation's fiscal year end?

According to the most recent income statement we have on file, Archer Aviation's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

How has Archer Aviation's net income changed over the last 5 years?

Archer Aviation's net income appears to be on an upward trend, with a most recent value of -$618.20 million in 2025, rising from -$24.80 million in 2020. The previous period was -$536.80 million in 2024. See Archer Aviation's forecast for analyst expectations on what’s next for the company.

What is Archer Aviation's operating income?
Archer Aviation's total operating income in 2025 was -$729.30 million, based on the following breakdown:
  • Total Gross Profit: $0.00
  • Total Operating Expenses: $729.30 million
How has Archer Aviation's revenue changed over the last 5 years?

Over the last 5 years, Archer Aviation's total revenue changed from $0.00 in 2020 to $300 thousand in 2025, a change of 30,000,000.0%.

How much debt does Archer Aviation have?

Archer Aviation's total liabilities were at $263.10 million at the end of 2025, a 5.8% increase from 2024, and a 4,359.3% increase since 2020.

How much cash does Archer Aviation have?

In the past 5 years, Archer Aviation's cash and equivalents has ranged from $36.60 million in 2020 to $1.02 billion in 2025, and is currently $1.02 billion as of their latest financial filing in 2025.

How has Archer Aviation's book value per share changed over the last 5 years?

Over the last 5 years, Archer Aviation's book value per share changed from 0.56 in 2020 to 3.38 in 2025, a change of 506.4%.


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Financial statements for NYSE:ACHR last updated on 3/4/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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