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Archer Announces Fourth Quarter and Full Year 2025 Results, US and UAE Air Taxi Pilot Programs On-Track for 2026

  • Archer Aviation targets its first passenger-carrying flights in 2026.
  • The company became the first to achieve 100% FAA acceptance of its "Means of Compliance" for its Midnight eVTOL aircraft.
  • Archer is on track for piloted vertical take-off and landing operations under the White House's eVTOL Integration Pilot Program later in 2026.
  • Piloted VTOL operations in the UAE are also targeted for 2026 with additional Midnight aircraft deliveries.
  • The company expanded defense opportunities through a dual-use hybrid aircraft program with Anduril.
  • Archer secured its first third-party powertrain deal with Anduril & UAE's EDGE Group to power autonomous air vehicles.
  • A new UK engineering hub in Bristol was announced to support collaboration with Anduril UK & GKN.
  • Archer ended the full year 2025 with approximately $2.0 billion in liquidity.
  • Total operating expenses for FY 2025 were $729.6 million, an increase from $509.7 million in FY 2024.
  • Net loss for FY 2025 reached $618.2 million compared to $536.8 million in FY 2024.
  • Adjusted EBITDA loss for FY 2025 was $481.8 million, within the guidance range for the quarter.
  • Q4 2025 Adjusted EBITDA loss was $137.9 million, consistent with the $110 million to $140 million guidance.
  • Archer estimates Q1 2026 Adjusted EBITDA to be a loss between $160 million & $180 million.
  • Cash used in operating activities for FY 2025 totaled $432.9 million.
  • Financing activities provided $1,796.4 million in FY 2025, primarily driven by registered direct offerings.
  • The company invested $152.1 million in acquisitions, including Hawthorne Airport & IP from Lilium & Overair.
  • Stock-based compensation expense increased to $223.5 million for FY 2025.
  • Archer's Midnight fleet is expanding with the newest aircraft currently in its VTOL flight test campaign.