Archer Announces Second Quarter 2026 Results

11 Aug Archer Announces Second Quarter 2026 Results

(Oilandgaspress) 11/08/26 – Archer Aviation Inc. announced operating and financial results for the second quarter ended June 30, 2026.

Key Financial Highlights

Liquidity & Cash Flows: We ended Q2 2026 with $1,560.6 million of cash, cash equivalents, and short-term investments on our balance sheet and an additional $7.3 million of restricted cash.
Our Q2 2026 cash, cash equivalents, and short-term investments decreased by $215.3 million from Q1 2026, primarily due to the $156.4 million cash used in operating activities, $37.1 million used in the purchase of property and equipment and $25.0 million used in acquisition of the fixed based operator business at the Hawthorne Airport.

Revenue: Our Q2 2026 Revenue increased by $3.4 million from Q1 2026 to $5.0 million as we expanded operations at the Hawthorne Airport in LA.
Operating Expenses & Net Loss

Q2 2026 Operating Expenses increased by $28.0 million from Q1 2026 as we continued to invest in expanding flight testing, certification efforts, and production activities for our Midnight aircraft, along with the investment in the design and development efforts for our hybrid aircraft, and the development of ZEE, our AI foundation model.

Q2 2026 Net Loss increased by $45.5 million from Q1 2026 primarily driven by $28.0 million increase in operating expenses, $18.8 million decrease primarily in non-cash gain for change in fair value of private and public warrants within other income (expense), net, and a $2.2 million decrease in interest income, net, offset by $3.4 million increase in revenue generated.

Adjusted EBITDA: Q2 2026 Adjusted EBITDA was a loss of $177.1 million, which is on the lower end of the guidance range of $170 million – $200 million. The loss was a planned increase of $4.6 million over Q1 2026, mainly due to the reasons mentioned above for the increase in operating expenses.
Q3 2026 Financial Estimates

Recent Highlights

Archer to Acquire Boeing’s Wisk Aero, Insitu and SkyGrid

Transaction1 to create an end-to-end physical AI platform for aerospace and defense, combining Wisk, Insitu and SkyGrid’s pioneering autonomy and airspace intelligence technologies with Archer’s leading purpose-built AI foundation model, ZEE. Insitu alone will add over $200M in annual revenue2 to Archer’s business with operations across 35 countries. As part of the transaction, Boeing is set to take a strategic stake in, and become a strategic partner to, Archer, establishing an ongoing Archer and Boeing collaboration and technology sharing arrangement.

Unveiled Dual-Use Autonomous, Hybrid VTOL Platform With Anduril

In July, Archer and Anduril unveiled their jointly-developed autonomous, hybrid VTOL aircraft platform at the Farnborough International Airshow, introduced as Thunder for defense missions and Halo for commercial applications. The two variants share the same airframe, hybrid powertrain and core systems, with configurable payload depending on mission requirements. Designed for low-cost, high-volume production using commercial supply chains, the platform behind Halo and Thunder is built to support broad deployment, rapid production and the scale commercial and defense markets require.

Announced ZEE, Archer’s AI Foundation Model Purpose-Built for Aviation

Archer announced ZEE, its AI foundation model purpose-built for aviation, delivering a unified aviation intelligence platform built on ADS-B, ATC communication, maps and charts, aircraft state, terrain and weather data. The foundation model is designed to work both offline, on-device and as a server-hosted solution, critical for use in a wide range of aviation environments from air taxis and UAVs to commercial airlines and air traffic management. ZEE recently achieved a technical breakthrough demonstrating the capability to accurately predict real-time aircraft trajectories on the airport surface minutes into the future, giving the humans in the loop the most critical asset in aviation safety: time to react.

Completed City-to-City Midnight flights In Preparation for eIPP Operations

In July, Archer’s Midnight aircraft completed a piloted round trip journey between Salinas Municipal Airport and Monterey Regional Airport, with each leg completed in approximately nine minutes compared to over 35 minutes by car. The flight was executed in close coordination with the FAA and marks a critical step toward Archer launching Midnight operations later this year under the eIPP.

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