Archer Aviation, a company developing electric vertical takeoff and landing (eVTOL) aircraft, has not recognized any revenue as of March 31, 2024, remaining in the pre-revenue stage. The company recorded a net loss of $116.5 million for the three months ended March 31, 2024, a slight increase from the $113.1 million net loss in the same period in 2023. Research and development expenses rose by 26.9% to $83.5 million, while general and administrative expenses increased by 33.1% to $58.7 million. The company's other warrant expense decreased to zero, down from $2.1 million in the previous year. Archer Aviation's liquidity position includes cash and cash equivalents of $405.8 million, which they believe will sustain operations for at least the next 12 months. In business development, Archer Aviation entered into agreements with United...Show More

Archer Aviation, a company developing electric vertical takeoff and landing (eVTOL) aircraft, has not recognized any revenue as of March 31, 2024, remaining in the pre-revenue stage. The company recorded a net loss of $116.5 million for the three months ended March 31, 2024, a slight increase from the $113.1 million net loss in the same period in 2023. Research and development expenses rose by 26.9% to $83.5 million, while general and administrative expenses increased by 33.1% to $58.7 million. The company's other warrant expense decreased to zero, down from $2.1 million in the previous year. Archer Aviation's liquidity position includes cash and cash equivalents of $405.8 million, which they believe will sustain operations for at least the next 12 months. In business development, Archer Aviation entered into agreements with United Airlines and Stellantis N.V. for aircraft orders and collaboration in manufacturing operations. The company issued shares to Stellantis, generating $25.0 million in gross proceeds and recognized a gain of $3.6 million. Archer Aviation's future plans involve continuing efforts to bring their eVTOL aircraft to market, with a focus on obtaining necessary FAA certifications and other government approvals. They intend to operate two lines of business: Archer UAM, their own urban air mobility ecosystem, and Archer Direct, selling aircraft to third parties.