Archer Q3 net loss $51.6M; Midnight takes flight; liquidity nearly $600M

Archer Aviation Inc.

2023-Q3 EPS reported -$1.35

GAAP net loss of $51.6M; Adjusted EBITDA -$64.8M in Q3 2023.
Cash & equivalents $461M as of Sep 30; plus $70M from Stellantis and $55M forward equity = nearly $600M liquidity.
Midnight aircraft took flight; on track for wing-borne transition in months, FAA "for credit" testing in 2024.
Plans to launch air taxi in UAE (ADIO) and India (InterGlobe, up to 200 aircraft); 2026 target for Abu Dhabi.
Received first ~$1M payment from USAF on up to $142M contracts; secured $65M debt for Georgia factory.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Archer Aviation Inc. reported financial results for third quarter ended September 30, 2023.

Period: third quarter ended September 30, 2023
Result: reported results

Exact text from the filing

On November 9, 2023, Archer Aviation Inc. (“Archer” or the “Company”) will hold a conference call regarding its financial results for the third quarter ended September 30, 2023. Archer also issued a letter to its stockholders (the “Shareholder Letter”) and a press release (the “Press Release”) announcing its financial results for the third quarter ended September 30, 2023.

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Archer Aviation Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-038234

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