Archer Aviation (ACHR) investor relations material

Executive summary

• Signed definitive agreements to acquire Hawthorne Airport in Los Angeles, establishing a strategic hub for eVTOL operations and as a test bed for AI technologies.

• Raised $650 million in new equity, bringing total liquidity to over $2 billion, reinforcing financial strength and enabling opportunistic investments.

• Achieved significant milestones in flight testing, including international demonstrations and commercial deployment progress in the UAE, Korea, and Japan.

• Integrated key technology and IP acquisitions, including Lilium’s patent portfolio and composite manufacturing assets, to strengthen long-term leadership.

• Focused on developing eVTOL aircraft for commercial and defense markets, with the Midnight aircraft as the flagship product and ongoing commercialization efforts in the U.S. and UAE.

Financial highlights

• Closed Q3 2025 with $1.64 billion in cash, cash equivalents, and short-term investments; post-raise liquidity exceeds $2 billion.

• Net loss for Q3 2025 was $129.9 million, up 12.7% year-over-year, but improved by $76 million from Q2.

• GAAP operating expenses were $175 million, flat quarter over quarter, but up 43.2% year-over-year, driven by R&D and G&A increases.

• Adjusted EBITDA loss for Q3 was $116 million, within guidance; cash used in operations and capex was $126 million, flat sequentially.

• Q3 capex was $20 million, slightly down from the prior quarter.

Outlook and guidance

• Q4 adjusted EBITDA loss expected between $110–$140 million; core capital investments to rise as aircraft production and manufacturing expansion continue.

• Lilium acquisition closed for $21 million in Q4; Hawthorne acquisition initial closing by year-end with $126 million cash outlay.

• Management believes current liquidity is sufficient for at least the next 12 months.

• 2026 spending will focus on Midnight program, defense, and software development, with some offset from revenue-generating opportunities.

• Commercialization depends on successful aircraft certification and regulatory approvals, with significant capital needs anticipated for infrastructure and manufacturing scale-up.