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Archer Announces Second Quarter 2026 Results; Announces Deal with Boeing to Shape Physical AI Future of Aerospace and Defense

ACHR
  • Archer Aviation announced a deal to acquire Boeing's Wisk Aero, Insitu, and SkyGrid to create an end-to-end physical AI platform for aerospace and defense.
  • The acquisition adds over $200 million in annual revenue to Archer's business with Boeing, which will take a strategic stake and collaborate with Archer on technology sharing.
  • Archer unveiled the Halo (commercial) and Thunder (defense) variants of a jointly-developed autonomous, hybrid VTOL platform with Anduril at the Farnborough International Airshow.
  • The company announced ZEE, an AI foundation model purpose-built for aviation that uses ADS-B, ATC, maps, charts, aircraft state, terrain, and weather data to predict real-time trajectories.
  • Archer completed piloted city-to-city Midnight flights between Salinas and Monterey airports, with each leg taking approximately nine minutes, in preparation for operations under the White House's eVTOL Integration Pilot Program.
  • Second quarter 2026 revenue reached $5.0 million, an increase from $1.6 million in the first quarter, driven by expanded operations at the Hawthorne Airport.
  • Total operating expenses for Q2 2026 were $284.2 million, resulting in a net loss of $263.2 million, while non-GAAP operating expenses were $192.2 million.
  • Adjusted EBITDA for the quarter was a loss of $177.1 million, within the guidance range of $170 million to $200 million.
  • Archer ended Q2 2026 with $1,560.6 million in cash, cash equivalents, and short-term investments, representing a decrease of $215.3 million from the previous quarter.
  • The company expects Q3 2026 Adjusted EBITDA to be a loss between $170 million and $200 million, noting that stock-based compensation and warrant fair value changes may impact GAAP results.