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Jun 30, 2024
Archer Aviation Q2 2024 Earnings Report
Archer's Q2 2024 net loss represents investments required to achieve the key elements of their commercialization plan.
Key Takeaways
Archer Aviation reported a net loss of $106.9 million for Q2 2024. The company continued to invest in the design, development, test and certification activities for its Midnight aircraft, build out its test and manufacturing facilities, and made investments in scaling operations.
Archer unveiled planned Los Angeles air taxi network.
Archer finalized key terms of contract manufacturing relationship with Stellantis.
Archer delivered first Midnight aircraft to United States Air Force.
Archer and Future Flight Global announce planned purchase of up to 116 Midnight Aircraft worth up to $580M With Pre-Delivery Payments.
Archer Aviation
Archer Aviation
Forward Guidance
Archer anticipates total non-GAAP operating expenses of $90 million to $100 million for the third quarter of 2024.