Archer Aviation Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Archer Aviation Inc reported revenue of $300.0K and net income of ($618.2M) (-15.2% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Revenue | $300.0K | — | — | — |
| Cost of revenue | $300.0K | — | — | — |
| Research and development | $493.9M | $357.7M | $276.4M | $171.5M |
| General and administrative | $235.4M | $152.0M | $168.4M | $165.1M |
| Other warrant expense | $0 | $0 | $2.1M | $10.8M |
| Total operating expenses | $729.6M | $509.7M | $446.9M | $347.4M |
| Loss from operations | ($729.3M) | ($509.7M) | ($446.9M) | ($347.4M) |
| Other income (expense), net | $58.6M | ($48.8M) | ($26.9M) | $27.8M |
| Interest income, net | $52.8M | $21.9M | $16.4M | $2.3M |
| Loss before income taxes | ($617.9M) | ($536.6M) | ($457.4M) | ($317.3M) |
| Income tax expense | ($300.0K) | ($200.0K) | ($500.0K) | — |
| Net loss | ($618.2M) | ($536.8M) | ($457.9M) | ($317.3M) |
| Net loss per share, basic (in dollars per share) | -$0.99 | -$1.42 | -$1.69 | -$1.32 |
| Net loss per share, diluted (in dollars per share) | -$0.99 | -$1.42 | -$1.69 | -$1.32 |
| Weighted-average common shares, basic (in shares) | 624.3M | 376.7M | 270.4M | 240.5M |
| Weighted-average common shares, diluted (in shares) | 624.3M | 376.7M | 270.4M | 240.5M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Revenue | $5.0M | $1.6M | — | — |
| Cost of revenue | $4.3M | $1.3M | — | — |
| Research and development | $186.0M | $171.7M | $120.7M | $122.4M |
| General and administrative | $93.9M | $83.2M | $54.1M | $53.7M |
| Total operating expenses | $284.2M | $256.2M | $174.8M | $176.1M |
| Loss from operations | ($279.2M) | ($254.6M) | ($174.8M) | ($176.1M) |
| Other income (expense), net | $1.8M | $20.6M | $28.7M | ($40.0M) |
| Interest income, net | $14.2M | $16.4M | $16.3M | $10.2M |
| Loss before income taxes | ($263.2M) | ($217.6M) | ($129.8M) | ($205.9M) |
| Income tax expense | $0 | ($100.0K) | ($100.0K) | ($100.0K) |
| Net loss | ($263.2M) | — | — | — |
| Net income (loss) attributable to noncontrolling interest | $0 | — | — | — |
| Net loss attributable to common stockholders | ($263.2M) | ($217.7M) | ($129.9M) | ($206.0M) |
| Net loss per share attributable to common stockholders, basic (in dollars per share) | -$0.34 | -$0.28 | -$0.20 | -$0.36 |
| Net loss per share attributable to common stockholders, diluted (in dollars per share) | -$0.34 | -$0.28 | -$0.20 | -$0.36 |
| Weighted-average common shares outstanding, basic (in shares) | 781.7M | 766.9M | 660.9M | 579.2M |
| Weighted-average common shares outstanding, diluted (in shares) | 781.7M | 766.9M | 660.9M | 579.2M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $1.0B | $834.5M | $464.6M | $69.4M |
| Restricted cash | $7.3M | $6.8M | $6.9M | $2.9M |
| Short-term investments | $943.2M | — | $0 | $461.8M |
| Prepaid expenses | $47.3M | $12.5M | $7.9M | $9.8M |
| Other current assets | $56.8M | $4.6M | $800.0K | $1.6M |
| Total current assets | $2.1B | $858.4M | $480.2M | $545.5M |
| Property and equipment, net | $253.6M | $126.8M | $57.6M | $11.5M |
| Intangible assets, net | $80.2M | $300.0K | $400.0K | $400.0K |
| Right-of-use assets | $40.8M | $8.1M | $8.9M | $11.9M |
| Goodwill | $100.0K | — | — | — |
| Other long-term assets | $15.1M | $7.6M | $7.2M | $4.5M |
| Total assets | $2.5B | $1.0B | $554.3M | $573.8M |
| Accounts payable | $30.2M | $14.6M | $14.3M | $3.6M |
| Current portion of lease liabilities | $5.3M | $3.7M | $2.8M | $3.7M |
| Accrued expenses and other current liabilities | $68.1M | $52.8M | $96.9M | $36.7M |
| Current portion of debt | $800.0K | — | — | — |
| Total current liabilities | $104.4M | $71.1M | $114.0M | $53.3M |
| Debt, net of current portion | $79.5M | — | — | — |
| Lease liabilities, net of current portion | $36.3M | $11.3M | $13.2M | $9.2M |
| Warrant liabilities | $29.9M | $89.4M | $39.9M | $7.0M |
| Other long-term liabilities | $13.0M | $12.8M | $12.9M | $11.0M |
| Total liabilities | $263.1M | $248.6M | $187.2M | $80.5M |
| Class A common stock, $0.0001 par value; 1,400,000,000 and 1,400,000,000 shares authorized as of December 31, 2025 and 2024, respectively; 744,046,194 and 503,777,464 shares issued and outstanding as of December 31, 2025 and 2024, respectively | 100.0K | 100.0K | 0 | 0 |
| Additional paid-in capital | $4.5B | $2.4B | $1.5B | $1.2B |
| Accumulated deficit | ($2.3B) | ($1.7B) | ($1.1B) | ($690.9M) |
| Accumulated other comprehensive loss | ($1.4M) | ($300.0K) | $0 | ($800.0K) |
| Total stockholders’ equity | $2.2B | $752.6M | $367.1M | $493.3M |
| Total liabilities and stockholders’ equity | $2.5B | $1.0B | $554.3M | $573.8M |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $852.7M | $951.1M | $595.5M | $1.7B |
| Restricted cash | $7.3M | $7.3M | $7.3M | $6.5M |
| Short-term investments | $707.9M | $824.8M | $1.0B | — |
| Prepaid expenses | $55.7M | $58.1M | $30.6M | $22.8M |
| Other current assets | $23.7M | $58.5M | $12.9M | $3.7M |
| Total current assets | $1.6B | $1.9B | $1.7B | $1.8B |
| Property and equipment, net | $326.7M | $278.6M | $167.8M | $148.1M |
| Intangible assets, net | $94.5M | $81.6M | $5.3M | $5.5M |
| Right-of-use assets | $43.8M | $39.3M | $18.4M | $11.0M |
| Goodwill | $80.5M | $2.4M | — | — |
| Other long-term assets | $21.5M | $21.1M | $16.0M | $16.7M |
| Total assets | $2.2B | $2.3B | $1.9B | $1.9B |
| Accounts payable | $32.1M | $25.4M | $23.7M | $22.7M |
| Current portion of lease liabilities | $6.8M | $4.7M | $5.4M | $4.5M |
| Accrued expenses and other current liabilities | $120.3M | $73.7M | $63.9M | $51.6M |
| Current portion of debt | $2.1M | $1.4M | — | — |
| Total current liabilities | $161.3M | $105.2M | $93.0M | $78.8M |
| Debt, net of current portion | $78.0M | $78.8M | — | — |
| Lease liabilities, net of current portion | $38.7M | $36.9M | $19.1M | $13.0M |
| Warrant liabilities | $3.0M | $7.1M | $58.6M | $87.6M |
| Other long-term liabilities | $17.7M | $15.4M | $10.5M | $13.9M |
| Total liabilities | $298.7M | $243.4M | $245.3M | $257.4M |
| Preferred stock, $0.0001 par value; 10.0 shares authorized; no shares issued and outstanding as of June 30, 2026 and December 31, 2025. | 0 | 0 | 0 | 0 |
| Class A common stock, $0.0001 par value; 1,400.0 shares authorized; 770.0 and 744.0 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively | 100.0K | 100.0K | 100.0K | 100.0K |
| Additional paid-in capital | $4.7B | $4.6B | $3.8B | $3.7B |
| Accumulated deficit | ($2.8B) | ($2.5B) | ($2.1B) | ($2.0B) |
| Accumulated other comprehensive loss | ($3.6M) | ($3.2M) | ($2.4M) | ($100.0K) |
| Total stockholders’ equity | $1.9B | $2.1B | $1.7B | $1.7B |
| Noncontrolling interest | $23.3M | — | — | — |
| Total liabilities and stockholders’ equity | $2.2B | $2.3B | $1.9B | $1.9B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net loss | ($618.2M) | ($536.8M) | ($457.9M) | ($317.3M) |
| Depreciation and amortization | $20.0M | — | — | — |
| Debt discount and issuance cost amortization | $100.0K | $0 | $700.0K | $500.0K |
| Stock-based compensation expense | $223.5M | $108.8M | $45.2M | $102.8M |
| Change in fair value of warrant liabilities and other warrant costs | ($59.5M) | $49.5M | $32.9M | ($22.9M) |
| Gain on issuance of common stock | $0 | ($1.5M) | ($3.6M) | — |
| Non-cash lease expense | $4.5M | $3.0M | $3.8M | $4.6M |
| Research and development warrant expense | $3.3M | $8.1M | $17.5M | $2.9M |
| General and administrative warrant expense | $0 | $200.0K | — | — |
| Other warrant expense | $0 | $0 | $2.1M | $10.8M |
| Technology and dispute resolution agreements expense | $0 | $5.6M | $70.3M | — |
| Amortization (accretion) of short-term investments purchased at a premium (discount) | $600.0K | $0 | ($2.3M) | ($4.9M) |
| Prepaid expenses | ($12.2M) | ($4.0M) | $1.9M | ($2.2M) |
| Other current assets | ($6.2M) | ($4.1M) | $800.0K | ($1.2M) |
| Other long-term assets | ($3.1M) | ($2.4M) | ($5.0M) | $400.0K |
| Accounts payable | $8.8M | ($100.0K) | $9.2M | ($100.0K) |
| Accrued expenses and other current liabilities | $16.5M | ($4.3M) | $2.3M | $15.6M |
| Operating lease right-of-use assets and lease liabilities, net | ($6.1M) | ($3.3M) | $2.4M | ($3.4M) |
| Other long-term liabilities | ($4.9M) | $1.0M | $1.6M | $10.1M |
| Net cash used in operating activities | ($432.9M) | ($368.6M) | ($271.6M) | ($200.4M) |
| Purchase of property and equipment | ($78.8M) | ($82.0M) | ($44.3M) | ($6.9M) |
| Purchase of short-term investments | ($1.0B) | $0 | $0 | ($487.4M) |
| Proceeds from maturities of short-term investments | $103.0M | $0 | $465.0M | $30.0M |
| Acquisition of intangible assets | ($26.2M) | — | — | — |
| Business acquisition, net | ($125.9M) | — | — | — |
| Net cash provided by (used in) investing activities | ($1.2B) | ($82.0M) | $420.7M | ($464.3M) |
| Proceeds from issuance of debt | $0 | $57.5M | $7.5M | $0 |
| Repayment of long-term debt | $0 | $0 | ($10.0M) | — |
| Payment of debt issuance costs | $0 | ($700.0K) | ($300.0K) | $0 |
| Payments for taxes related to net share settlement of equity awards | $0 | $0 | ($3.5M) | — |
| Proceeds from PIPE financing | $10.0M | $590.1M | $145.0M | $0 |
| Proceeds from shares issued under at-the-market program | 46.3M | 138.3M | 20.7M | — |
| Proceeds from shares issued under employee stock purchase plan | 7.4M | 4.8M | 2.9M | — |
| Proceeds from issuance of common stock | $1.8B | $55.0M | $95.0M | — |
| Payment of offering costs in connection with financing activities | ($69.1M) | ($24.3M) | ($6.0M) | — |
| Net cash provided by financing activities | $1.8B | $820.4M | $250.1M | ($9.9M) |
| Net increase in cash, cash equivalents, and restricted cash | $187.5M | $369.8M | $399.2M | ($674.6M) |
| Cash, cash equivalents, and restricted cash, beginning of period | $841.3M | $471.5M | $72.3M | $746.9M |
| Cash, cash equivalents, and restricted cash, end of period | $1.0B | $841.3M | $471.5M | $72.3M |
| Cash paid for interest | $4.1M | $2.5M | $800.0K | $1.5M |
| Purchases of property and equipment included in accounts payable and accrued expenses | $12.4M | $7.8M | $10.8M | $3.1M |
| Purchases of property and equipment in common stock | $7.4M | — | — | — |
| Purchases of intangible assets in common stock | $9.8M | — | — | — |
| Payment of offering costs in connection with financing activities in common stock | $1.9M | — | — | — |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net loss | ($480.9M) | ($217.7M) | ($429.3M) | ($299.4M) |
| Depreciation and amortization expense | $17.9M | $7.8M | $14.0M | $8.9M |
| Stock-based compensation expense | $156.0M | $70.4M | $134.6M | $81.9M |
| Change in fair value of warrant liabilities | ($26.9M) | ($22.8M) | ($30.8M) | ($1.7M) |
| Non-cash lease expense | $3.7M | $1.7M | $3.0M | $1.8M |
| Research and development warrant expense | $0 | $0 | $2.4M | $1.6M |
| General and administrative warrant expense | $1.1M | $1.1M | $0 | — |
| Loss on disposal of property and equipment, net | $600.0K | — | — | — |
| Amortization of short-term investments purchased at a premium | $3.0M | $1.6M | — | — |
| Others | $600.0K | ($300.0K) | — | — |
| Prepaid expenses | $3.3M | ($5.4M) | $1.6M | $500.0K |
| Other current assets | ($7.6M) | $1.9M | ($8.1M) | $900.0K |
| Other long-term assets | ($7.9M) | ($6.5M) | ($2.8M) | ($1.3M) |
| Accounts payable | $900.0K | ($5.2M) | $5.9M | $5.4M |
| Accrued expenses and other current liabilities | $39.1M | $28.0M | $11.3M | $4.0M |
| Operating lease right-of-use assets and lease liabilities, net | ($2.8M) | ($300.0K) | ($3.8M) | ($2.2M) |
| Other long-term liabilities | ($5.6M) | ($4.0M) | ($1.7M) | $1.6M |
| Net cash used in operating activities | ($305.5M) | ($149.1M) | ($303.6M) | ($198.0M) |
| Purchase of property and equipment | ($69.7M) | ($32.6M) | ($49.2M) | ($28.9M) |
| Proceeds from maturities of short-term investments | $230.0M | $115.0M | — | — |
| Acquisition of intangible assets | $0 | — | ($5.3M) | ($5.2M) |
| Business acquisition, net of cash acquired | ($28.7M) | ($3.7M) | — | — |
| Net cash provided by (used in) investing activities | $131.6M | $78.7M | ($1.1B) | ($34.1M) |
| Repayment of long-term debt | ($200.0K) | ($100.0K) | — | — |
| Proceeds from PIPE financing | $0 | $0 | $10.0M | $10.0M |
| Proceeds from issuance of common stock | $0 | $0 | $0 | — |
| Proceeds from exercise of stock options | $100.0K | $100.0K | — | — |
| Proceeds from shares issued under employee stock purchase plan | 5.2M | — | 3.8M | 3.8M |
| Payment of offering costs in connection with financing activities | $0 | $0 | ($44.2M) | ($44.3M) |
| Net cash provided by financing activities | $5.1M | $0 | $1.2B | $1.1B |
| Net change in cash, cash equivalents, and restricted cash | ($168.8M) | ($70.4M) | ($238.5M) | $889.2M |
| Cash, cash equivalents, and restricted cash, beginning of period | $1.0B | $1.0B | $841.3M | $841.3M |
| Cash, cash equivalents, and restricted cash, end of period | $860.0M | $958.4M | $602.8M | $1.7B |
| Purchases of property and equipment included in accounts payable and accrued expenses | $23.0M | $14.1M | $9.7M | $5.6M |
| Purchases of property and equipment in common stock | $15.1M | $7.4M | $2.2M | — |
| Purchase of business acquisition in common stock | $2.9M | $2.9M | — | — |
| Payment of offering costs in connection with financing activities in common stock | $0 | $0 | — | — |
| Fair value of option to acquire FBO business included in purchase consideration | $44.8M | — | — | — |
Archer Aviation Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.