Archer Aviation Inc. reported its fourth‑quarter and full‑year 2025 financial results, posting a net loss of $188.9 million for the quarter and $618.2 million for the year. The company’s GAAP earnings per share were –$0.26, missing the consensus estimate of –$0.24 by $0.02.
The quarter’s loss was driven by continued investment in certification, development, and stock‑based compensation. Operating expenses rose to $1.07 billion, up from $1.02 billion in Q4 2024, while revenue for the quarter was $0.3 million, a modest increase from $0.2 million in the same period last year.
Archer’s management highlighted a significant regulatory milestone: 100 % FAA acceptance of the eVTOL aircraft’s Means of Compliance, clearing the company for the next phase of type‑inspection authorization. The company also reaffirmed its plan to launch piloted vertical‑take‑off and landing operations in the United States and the United Arab Emirates in 2026.
Despite the earnings miss, Archer ended 2025 with record liquidity of approximately $2.0 billion, up $1.13 billion from the prior year, largely due to equity financing. CFO Priya Gupta noted that the strong balance sheet provides a runway for continued investment in development, certification, and manufacturing.
Looking ahead, Archer guided for a Q1 2026 Adjusted EBITDA loss of $160 million to $180 million, higher than the $137.9 million loss in Q4 2025, reflecting anticipated spending on certification and production ramp‑up. The company remains confident that the FAA milestone and liquidity position will support its 2026 commercial launch plans.
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