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Investing.com -- Archer Aviation Inc. (NYSE:ACHR) reported a wider-than-expected second quarter loss on Monday, with adjusted earnings per share coming in at -$0.36, missing analyst estimates of -$0.25 by $0.11.
The urban air mobility company’s shares fell 1.6% following the earnings release as investors reacted to the earnings miss. The company reported an adjusted EBITDA loss of $118.7 million for the quarter ended June 30, 2025, while GAAP net loss reached $206 million.
Archer is ramping up production with six Midnight aircraft currently in manufacturing across its facilities, including three in final assembly. The company maintained a strong liquidity position with $1.72 billion in cash and cash equivalents at quarter end.
"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. "Alongside major progress in the UAE, our selection as the Official Air Taxi Provider of LA28 Olympic Games, and two acquisitions to accelerate our defense program, we’re executing from a position of strength with a sector leading $1.7 billion of liquidity."
During the quarter, Archer delivered its first Midnight aircraft to the UAE and began flight testing in Abu Dhabi, with initial commercial payments expected later this year. The company also made two strategic acquisitions to strengthen its defense program, purchasing a patent portfolio and talent from Overair, along with specialized defense composite manufacturing assets from Mission Critical Composites.
Looking ahead, Archer provided third quarter guidance for adjusted EBITDA loss between $110 million and $130 million.
The company’s selection as the Official Air Taxi Provider for the LA 2028 Olympic Games has helped align federal and local stakeholders around achieving FAA type certification and scaled operations of its Midnight aircraft.
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