Archer Aviation Inc Stock Price, News & Analysis

Archer Aviation (NYSE: ACHR) announced its Q4 and full year 2024 results, highlighting significant operational milestones. The company unveiled its 'Launch Edition' commercialization program with Abu Dhabi Aviation (ADA) as its first customer, aiming to deploy Midnight aircraft commercially before FAA certification.

Key developments include:

• Starting production of Midnight aircraft at ARC facility in Covington, with plans to build up to 10 aircraft in the current year
• Maintaining over $1B in liquidity while keeping spending flat for two consecutive quarters
• Establishing an exclusive partnership with Anduril Industries for developing hybrid VTOL aircraft for defense applications

For Q1 2025, Archer projects an Adjusted EBITDA loss between $95 million to $110 million.

Archer Aviation (NYSE: ACHR) has announced its 'Launch Edition' commercialization program for its Midnight aircraft, with Abu Dhabi Aviation (ADA) as its first customer. The program aims to create a repeatable playbook for deploying Midnight in early adopter markets before FAA type certification.

ADA plans to deploy an initial fleet of Midnight aircraft later this year. Archer will provide pilots, technicians, engineers, software infrastructure, and a booking application to support operations. The partnership was formalized through a memorandum of understanding with the Abu Dhabi Investment Office for funding the deployment.

The Midnight aircraft is designed as a piloted, four-passenger electric air taxi aimed at transforming urban travel by replacing 60-90 minute car commutes with 10-20 minute flights. The aircraft is engineered for rapid back-to-back flights with minimal charging time between operations.

Archer Aviation (NYSE: ACHR) has received FAA Part 141 certification to launch its pilot training academy, marking the third key operational certificate required for launching air taxi operations. This certification allows Archer to formally train and qualify pilots for its planned commercial air taxi services using its Midnight aircraft.

The company previously obtained its Part 135 Air Carrier & Operator Certificate in June 2024 and Part 145 certification in February 2024. Archer has already begun the application process for Part 142, the fourth and final certificate needed. The Part 141 certificate was granted during a ceremony at Archer's flight test facility in Salinas, CA.

Archer aims to transform urban travel by replacing 60-90-minute car commutes with 10-20-minute electric air taxi flights. The Midnight aircraft is designed as a piloted, four-passenger vehicle capable of performing rapid back-to-back flights with minimal charging time.

Archer Aviation (NYSE: ACHR) has announced it will release its fourth quarter and full year 2024 operating update and financial results after market close on Thursday, February 27, 2025. The company will host a live webcast at 2:00 p.m. Pacific Time to discuss the results. The webcast and replay will be accessible at investors.archer.com. For the first time, Archer will implement Say Technologies' Q&A Platform, allowing shareholders to submit and vote on questions through their dedicated platform.

Archer has successfully raised $301.75M from leading institutional investors, including funds managed by BlackRock, bringing its total liquidity position to approximately $1 billion. The funding will accelerate the development of its hybrid aircraft platform, particularly focusing on defense applications.

The financing involved the sale of 35,500,000 shares of Class A common stock at $8.50 per share. The company plans to use the proceeds for developing next-generation aircraft manufacturing capabilities, including batteries and composites. Archer's preliminary Q4 2024 financial results indicate GAAP operating expenses between $120-140 million and non-GAAP operating expenses within $95-110 million range.

The company launched Archer Defense in December to develop next-generation vertical-take-off-and-landing aircraft with hybrid propulsion for defense applications. CEO Adam Goldstein noted that defense opportunities appear substantially larger than initially expected.

Archer Defense has added Lieutenant General (Ret) Scott Howell to its Advisory Board. Howell, a highly decorated retired military leader, will support Archer Defense, a new business unit focused on next-gen military aircraft. He will guide the team in their work with the Department of Defense and other military branches.

Archer Defense, announced in December, aims to leverage expertise in aircraft development, advanced flight controls, and scalable manufacturing. Its first project, in partnership with Anduril, involves a hybrid-propulsion, vertical-take-off-and-landing (VTOL) aircraft. Howell's military career includes leadership roles in Iraq, Afghanistan, the Pentagon, and the White House, notably accelerating military transformation and securing the largest-ever budget for U.S. Special Operations Command.

In the private sector, Howell will continue his advisory role with General Catalyst, focusing on modern defense and intelligence. Archer's CEO, Adam Goldstein, expressed confidence in Howell's ability to accelerate innovation in military aviation. Howell joins an advisory board that includes seven other retired military leaders.

Archer Aviation (NYSE: ACHR) has completed construction of its ~400,000 square foot manufacturing facility (ARC) in Covington, GA, receiving the certificate of occupancy. The company is preparing for initial production in early 2025, targeting a production rate of two aircraft monthly by year-end. Stellantis is partnering with Archer as its exclusive contract manufacturer, providing capital, technology, and expertise to help scale production to 650 aircraft annually by 2030.

The facility, connected to Covington Municipal Airport, will manufacture Archer's Midnight eVTOL aircraft, designed as a sustainable, low-noise alternative to ground transportation in congested urban areas. The project represents a shift from R&D to commercialization in the eVTOL industry.

Archer Aviation (NYSE: ACHR) has announced an exclusive partnership with Anduril Industries to jointly develop a hybrid VTOL aircraft for defense applications, targeting a potential U.S. Department of Defense program. Alongside this partnership, Archer has secured $430 million in additional equity capital from investors including Stellantis, United Airlines, Wellington Management, and Abu Dhabi's 2PointZero.

The collaboration combines Archer's expertise in VTOL aircraft development using commercial parts with Anduril's capabilities in AI and systems integration. Archer ended Q3'24 with $502 million in cash, bringing total capital raised to nearly $2 billion. The company's new defense initiative, Archer Defense, will be led by Joseph Pantalone, a former Lockheed Martin and Sikorsky executive.

Archer Aviation (NYSE: ACHR) has entered into a multi-party collaboration agreement with UAE and Abu Dhabi entities to establish electric air taxi operations in Abu Dhabi. The agreement positions Archer as the first eVTOL aircraft manufacturer in the MENA region and the first to launch commercial flying taxi operations in the Emirate.

The partnership involves key stakeholders including the Abu Dhabi Investment Office, Abu Dhabi Airports, Falcon Aviation Services, Etihad Aviation Training, GCAA, GANS, GAL, and the Integrated Transport Centre. The UAE General Civil Aviation Authority has been working with Archer through certification workshops to establish the necessary regulatory framework for commercial air taxi operations.