Archer Aviation Inc Stock Price, News & Analysis

Archer Aviation Inc. (NYSE: ACHR) reported its fourth quarter and full year results for 2022, highlighting significant progress towards commercialization of its Midnight aircraft. The company is nearing the completion of its first build and has expanded its partnership with Stellantis for manufacturing. Financially, total operating expenses in Q4 were $108.1 million with a net loss of $95.4 million. For FY 2022, the net loss totaled $317.3 million. Looking ahead, Archer estimates Q1 2023 operating expenses between $110 million and $120 million (GAAP). The company's cash position remains strong at $531.2 million.

Archer Aviation (NYSE: ACHR) is making significant progress with its Midnight aircraft, nearing completion of its first build. All major aerostructures are assembled, and a significant portion of wiring and systems has been installed. Flight testing is scheduled to begin mid-2023, with initial conforming aircraft targeted for completion in Q4 2023, ahead of piloted flight tests in early 2024. Archer plans to manufacture at least six conforming Midnight aircraft for FAA certification tests. COO Tom Muniz highlighted this milestone as validation of their innovative strategy, aiming for mass manufacturing and certification.

Archer Aviation (NYSE: ACHR) has announced significant progress on its high-volume manufacturing facility for eVTOL aircraft in Covington, GA. The facility, adjacent to Covington Municipal Airport, will span 350,000 sq. ft. with the capacity to produce up to 650 aircraft annually, and can be expanded to support 2,300 aircraft per year. Following a local incentive transaction, Archer has partnered with Stellantis to commence production of the Midnight aircraft in 2024. A ceremonial event is planned for April to celebrate this milestone.

Archer Aviation Inc. (NYSE: ACHR) will announce its fourth quarter and full year 2022 operational update and financial results on March 9, 2023, after market close. A conference call is scheduled for 2:00 p.m. PT (5:00 p.m. ET) to discuss these results. Investors can access the live webcast on the Archer investor relations website. International callers can dial +1 929-526-1599 and enter access code 066186 to join the call. A replay of the webcast and conference call will be available for one week after the event.

Archer Aviation Inc. (NYSE: ACHR) announced its participation in multiple investor conferences. Key events include Credit Suisse's 28th Annual Energy Summit in Vail, CO on February 27, 2023, Raymond James' 44th Annual Institutional Investors Conference in Orlando, FL on March 7, 2023, and J.P. Morgan's 2023 Industrials Conference in New York, NY on March 14, 2023. Additionally, Archer will join Baird's Vehicle Tech & Mobility Conference virtually on February 15, 2023. These conferences aim to enhance engagement with investors as Archer continues to develop electric vertical takeoff and landing aircraft for urban air mobility.

Stellantis and Archer have announced a partnership to manufacture Archer's Midnight electric vertical take-off and landing (eVTOL) aircraft. This collaboration aims to utilize Stellantis' advanced manufacturing expertise, personnel, and up to $150 million in equity to facilitate production at a new facility in Covington, Georgia, set to begin in 2024. Stellantis will also aim to increase its shareholding in Archer, enhancing its role as a strategic investor and enabling Archer to save significantly on manufacturing costs during its ramp-up phase.

Archer Aviation (NYSE: ACHR) has reached a major milestone with the publication of Airworthiness Criteria for its Midnight aircraft in the Federal Register by the FAA. This electric vertical takeoff and landing aircraft (eVTOL) is designed to carry four passengers and a pilot, with an operational range of 100 miles and a top speed of 150 mph. Archer aims to secure FAA certification by late 2024 and launch its urban air mobility network in 2025. The announcement underscores Archer's commitment to commercializing eVTOL technology and enhancing urban transportation.

On November 29, 2022, Archer Aviation's Maker successfully completed its first full transition flight, marking a significant milestone in eVTOL aircraft development. This achievement comes less than a year after its first hover flight, demonstrating rapid progress in flight testing. Maker’s configuration features 12 propellers across six booms, transitioning to wing-borne flight at 91 knots (105 mph). The flight program provides critical data to support Archer’s goal of being the first FAA-certified eVTOL operator in the U.S. The upcoming Midnight aircraft is set for certification in 2024.

Archer Aviation has unveiled its new electric vertical takeoff and landing (eVTOL) aircraft, Midnight, at an Open House event in Palo Alto, CA. Midnight, which can carry four passengers and a pilot, boasts an expected payload of over 1,000 pounds and is optimized for 20-mile trips with a rapid 10-minute charging time. Archer aims to achieve FAA certification for Midnight by late 2024 and plans to launch its urban air mobility (UAM) network in 2025. The design emphasizes safety, low noise, and sustainability, with zero operating emissions.