Archer produces six Midnight aircraft, named Olympic air taxi provider

SANTA CLARA, Calif. - Archer Aviation Inc. (NYSE:ACHR), currently valued at $1.62 billion, reported Monday that it has six Midnight aircraft in production, with three in final assembly at its California and Georgia facilities, as the company continues to advance its electric vertical takeoff and landing (eVTOL) aircraft program. According to InvestingPro analysis, the company maintains a strong financial health score in cash flow management, though current market indicators suggest the stock is trading above its Fair Value.

The company has been selected as the Official Air Taxi Provider of the LA28 Olympic Games, a designation that helps align federal and local stakeholders around achieving FAA type certification and scaled operations. This partnership was bolstered by a White House Executive Order issued in June 2025 aimed at promoting American leadership in eVTOL aircraft. With a beta of 3.09, InvestingPro data shows the stock exhibits significantly higher volatility than the broader market, reflecting both the risks and opportunities in this emerging sector. Subscribers can access 8 additional ProTips and comprehensive analysis in the Pro Research Report.

Archer has also expanded internationally, signing definitive agreements with Abu Dhabi Aviation and the Abu Dhabi Investment Office to activate its first Launch Edition program globally. The company has delivered its first Midnight aircraft to the UAE and commenced flight testing in Abu Dhabi.

To strengthen its defense business, Archer made two strategic acquisitions during the quarter: a patent portfolio and talent from Overair, and specialized defense composite manufacturing assets from Mission Critical Composites.

For the second quarter ended June 30, 2025, Archer reported a net loss of $206 million and adjusted EBITDA loss of $118.7 million. The company maintains a strong financial position with $1.7 billion in cash and cash equivalents, supported by a robust current ratio of 15.8 and minimal debt-to-equity ratio of 0.08, according to InvestingPro data.

"This quarter, we ramped aircraft manufacturing across our facilities in California and Georgia with six Midnight aircraft in production, including three in final assembly," said Adam Goldstein, Archer’s founder and CEO, in a statement released by the company.

Archer expects an adjusted EBITDA loss between $110 million and $130 million for the third quarter of 2025.

The company is working with the FAA on obtaining a production certificate as it continues to build out its manufacturing capabilities. Analyst consensus compiled by InvestingPro shows mixed expectations, with price targets ranging from $4.50 to $18.00 per share, reflecting the emerging nature of the eVTOL market. Get access to detailed valuation metrics and comprehensive analysis through InvestingPro’s Research Reports, available for over 1,400 US stocks.

In other recent news, Archer Aviation has completed strategic acquisitions to boost its defense aircraft development. The company acquired a patent portfolio and key personnel from Overair, as well as composite manufacturing assets and a 60,000-square-foot facility from Mission Critical Composites. Additionally, Archer announced the departure of Chief Financial Officer Mark Mesler, who had been on medical leave since September 2024. Priya Gupta will continue to serve as CFO, while Harsh Rungta remains Senior Vice President, Finance, and Chief Accounting Officer. A transition agreement has been made with Mr. Mesler, including a one-time cash payment and accelerated vesting of certain stock units.

In analyst updates, Canaccord Genuity reiterated its Buy rating with a $13.00 price target, following Archer’s recent flight tests of the Midnight aircraft. The tests aimed to evaluate performance under extreme conditions, supporting future certification and commercialization efforts. Cantor Fitzgerald also maintained an Overweight rating with a $13.00 price target after the company’s successful test flight in the UAE. This test, conducted at Al Bateen Executive Airport, marked a significant step toward commercial deployment in the region.

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