Archer Q1 net loss $116.5M; 100+ flights, Midnight closing on transition milestone

Archer Aviation Inc.

2024-Q1 EPS reported -$0.36

GAAP net loss $116.5M; adj. EBITDA -$86.8M; total operating expenses $142.2M ($89.1M non-GAAP).
Liquidity >$520M at end of each of past four quarters; cash $405.8M at Mar 31, 2024.
Flew 100+ flights in Q1; on track to exceed 400 flights target for 2024; transition milestone imminent.
Signed multi-hundred-million $ framework with Abu Dhabi Investment Office to accelerate UAE air taxi launch.
First conforming Midnight aircraft final assembly progressing; piloted flight tests on track for later 2024.

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 0.6

Archer Aviation Inc. reported financial results for the first quarter ended March 31, 2024.

Period: the first quarter ended March 31, 2024
Result: reported results

Exact text from the filing

On May 9, 2024, Archer Aviation Inc. (“Archer” or the “Company”) will hold a conference call regarding its financial results for the first quarter ended March 31, 2024.

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Archer Aviation Inc. filing history →

Source: SEC EDGAR

accession 0001628280-24-022208

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