Archer Aviation

Table of Contents

⚠ Disclaimer: This entry may be incomplete, out of date, or inaccurate. It is AI-maintained on a best-effort basis. Do not rely on it as a sole source — verify claims independently using the sources listed below.

Summary

Archer Aviation (NYSE: ACHR) is building Midnight, a piloted electric tilt-rotor air taxi. In April 2026 it became the first eVTOL company to close Phase 3 of the FAA’s four-phase type certification process, and Phase 4 (formal compliance testing) is underway. It is still pre-commercial: Q2 2026 revenue was $5.0M, mostly from Hawthorne Airport operations in Los Angeles, against a net loss of $263.2M and cash of $1.56B. On 2026-08-10 it signed definitive agreements to acquire Boeing’s Wisk, Insitu and SkyGrid units, with closing expected by the end of 2026, and it is developing a hybrid VTOL aircraft with Anduril.

Key Facts

Ticker: NYSE: ACHR
HQ: San Jose, CA (not re-verified in this review)
CEO: Adam Goldstein, founder and CEO
Product: Midnight piloted eVTOL air taxi
FAA type certification: Phase 3 of 4 closed April 2026 (company-stated first for an eVTOL); Phase 4 underway
Cash (2026-06-30): $1,560.6M in cash, equivalents and short-term investments, plus $7.3M restricted; $1,775.9M at 2026-03-31
Q2 2026: revenue $5.0M; net loss $263.2M; adjusted EBITDA loss $177.1M; Q3 guidance adjusted EBITDA loss $170–200M
Debt: about $80.2M (Q1 2026)
Operations: took over Hawthorne Airport operations (LA); $25.0M Hawthorne FBO acquisition in Q2; Official Air Taxi Provider for LA28
eIPP: selected as air taxi partner in three winning applications covering eight states (Florida, Texas, New York among them); US Midnight operations expected in 2026; piloted Midnight flights between Salinas and Monterey in July 2026
Defense: Thunder (defense) and Halo (commercial) hybrid VTOL platform with Anduril unveiled at Farnborough, July 2026
Boeing transaction: announced 2026-08-10; price not disclosed in the sources reviewed; closing by end of 2026 subject to conditions including Hart-Scott-Rodino

What It Is / How It Works

Midnight is a piloted, six-motor tilt-rotor aircraft that lifts off vertically and transitions to wing-borne cruise. FAA certification for eVTOLs follows a four-phase process; Archer says it has closed the third and begun formal compliance demonstration, the phase that produces the data supporting a type certificate. The sources reviewed give no certification date.

Near-term revenue path. Archer’s first US flights are tied to the FAA’s eVTOL Integration Pilot Program (eIPP), under which it is a partner in three winning applications across eight states. It also now operates Hawthorne Airport, which it expects to anchor its Los Angeles service.

Boeing deal. Wisk (autonomy and eVTOL development), SkyGrid (air traffic management software) and Insitu (military uncrewed aircraft, more than 3,500 systems fielded to armed forces of 35 nations per Boeing’s description) would come to Archer, with Boeing taking a strategic stake and keeping access to Wisk’s autonomy technology. Archer said Insitu alone adds over $200M of annual revenue.

Notable Developments

2026-08-10: Definitive agreements to acquire Wisk, Insitu and SkyGrid from Boeing. (AVM)
2026-08: Q2 results: cash $1.56B, net loss $263.2M, revenue $5.0M. (SEC 8-K)
2026-07: Thunder/Halo hybrid VTOL with Anduril unveiled at Farnborough; piloted Salinas–Monterey flights. (SEC 8-K)
2026-05-11: Q1 results: Phase 3 closed in April; eIPP selections; LA28 role. (Archer IR)

Key People

Adam Goldstein — Founder and CEO

LinkedIn: not re-verified
Role: quoted as CEO on the Boeing transaction (2026-08-10) (AVM)

Prior employers were not confirmed from fetched sources.

People — Last Reviewed: 2026-10-25

Supply Chain Position

Archer is a platform OEM. Supplier details for motors, batteries and manufacturing were not disclosed in the sources reviewed; a Stellantis warrant expense appears in its filings (zero in Q1 and Q2 2026) tied to services Stellantis provides. ⚑ Shared context: eVTOL motors typically depend on NdFeB magnets; Archer has not disclosed its sourcing.

Claim Verification

Claim: First eVTOL company to close FAA Phase 3

Status: Unverified

Supporting sources:

Archer IR (May 2026) — states it was the first eVTOL company to close Phase 3

Refuting / questioning sources:

No FAA statement was retrieved to confirm priority; a type certificate has not been issued.

Summary: A company statement; certification remains incomplete.

Claim: US operations in 2026