Archer Aviation Q3 2024 Earnings Report
Key Takeaways
Archer Aviation reported a net loss of $115.3 million for Q3 2024, driven by continued investments in its commercialization plan, including aircraft design, development, testing, and production. The company ended the quarter with a strong cash position of over $500 million and is progressing with its manufacturing facility in Georgia and strategic partnerships in Japan and the UAE.
Ended Q3 2024 with over $500M in cash and cash equivalents.
Q3 2024 spending remained nearly flat compared to Q2 2024.
Seeking shareholder approval for up to ~$400M of additional capital from Stellantis.
Indicative order book grew to $6B+ with the latest planned purchase from a new Japanese customer.
Archer Aviation
Archer Aviation
Forward Guidance
Archer anticipates total non-GAAP operating expenses of $95 million to $110 million for the fourth quarter of 2024.