Archer Aviation, a company specializing in electric vertical takeoff and landing (eVTOL) aircraft, has not yet begun generating revenue as it remains in the pre-revenue stage, focusing on the design, development, and certification of its eVTOL aircraft. The company has reported a net loss of $115.3 million for the three months ended September 30, 2024, and a net loss of $338.7 million for the nine months ended September 30, 2024. Research and development expenses have increased significantly, reflecting the company's investment in advancing its technology. Archer Aviation has entered into strategic agreements with Stellantis N.V. and United Airlines, including a manufacturing and collaboration agreement with Stellantis for the production of eVTOL aircraft and a purchase agreement with United for up to $1.5 billion worth...Show More

Archer Aviation, a company specializing in electric vertical takeoff and landing (eVTOL) aircraft, has not yet begun generating revenue as it remains in the pre-revenue stage, focusing on the design, development, and certification of its eVTOL aircraft. The company has reported a net loss of $115.3 million for the three months ended September 30, 2024, and a net loss of $338.7 million for the nine months ended September 30, 2024. Research and development expenses have increased significantly, reflecting the company's investment in advancing its technology. Archer Aviation has entered into strategic agreements with Stellantis N.V. and United Airlines, including a manufacturing and collaboration agreement with Stellantis for the production of eVTOL aircraft and a purchase agreement with United for up to $1.5 billion worth of aircraft. The company has also drawn down $125 million from Stellantis under a forward purchase agreement related to specific milestones. Looking ahead, Archer Aviation is working towards FAA certification for its production aircraft, Midnight, and plans to operate two lines of business: Archer UAM, an urban air mobility ecosystem, and Archer Direct, which involves selling aircraft to third parties.