Archer Aviation Deepens Q2 Loss to $263M While Advancing FAA Certification
Archer Aviation reported Q2 revenue of $5.0 million, above the roughly $1.9 million expected by analysts, but the loss widened to $263.2 million from $217.7 million as operating expenses rose for flight testing, certification, Midnight production, and ZEE, its aviation AI model. Adjusted EBITDA came in at a $177.1 million loss. The company ended the quarter with about $1.56 billion in cash and equivalents, down about $215 million as it funded operations and bought a Hawthorne fixed-base operator. For Q3, Archer guided to an adjusted EBITDA loss of $170 million to $200 million. On the FAA front, Archer completed piloted Midnight city-to-city flights (Salinas–Monterey) and said Midnight remains in the final phase of FAA type certification, with a fully accepted means of compliance and FAA approval of its quality management system, enabling FAA-creditable aircraft.
