$ACHR · Archer Aviation Inc.
Archer Aviation's 10-Q for Q3 2026 shows revenue of $5.1M (vs $0 a year ago) against a $274.5M net loss, or $0.35 per share. Nine-month revenue was $11.7M with a $755.4M net loss. Operating expenses jumped to $294.3M in the quarter from $174.8M, driven by R&D of $198.3M and G&A of $91.0M. Cash and short-term investments totaled $1.35B at September 30, 2026, down from $1.96B at year-end 2025.
- Q3 revenue was $5.1M versus $0 in the prior-year quarter.
- Q3 net loss widened to $274.5M from $129.9M a year earlier.
- Nine-month R&D spend reached $556.0M, up from $346.8M.
- Cash and short-term investments fell to $1.35B from $1.96B at year-end 2025.
- Stock-based compensation hit $86.5M in Q3, up from $52.8M.
Extended-hours trading shows the stock at $4.57, down 4.99% from the $4.81 regular close, signaling a negative initial reaction to the widening loss and cash burn.
Archer's losses are widening sharply while its cash cushion shrinks, a key signal for a pre-revenue company dependent on future capital raises.
Archer's accelerating R&D burn mirrors the broader eVTOL sector's pre-revenue capital intensity as peers race toward FAA certification and commercial launch.
Rising cash burn ($755.4M nine-month net loss) against a shrinking $1.35B cash position raises runway risk absent additional capital raises.