$ACHR · Archer Aviation Inc.
Archer reported Q3 2026 results: revenue of $5.1M (vs $5.0M prior quarter, $0 year-ago), a net loss of $274.5M, and EPS of -$0.35. The company received FAA Market Survey Special Airworthiness Certificate for Midnight, unlocking LA operations. It also said the Boeing Wisk/Insitu/SkyGrid acquisition is nearing close, with only one of nearly 20 approvals outstanding, and began testing the Halo/Thunder turboshaft engine with Anduril.
- Q3 revenue was $5.1M, up from $5.0M in Q2 and $0 a year ago.
- Net loss widened to $274.5M from $129.9M a year earlier; EPS was -$0.35.
- R&D spend rose to $198.3M from $120.7M a year ago.
- Boeing Wisk/Insitu/SkyGrid deal close now expected 'much sooner' than year-end, one approval left.
- Insitu projected at over $200M annual revenue across 35 countries.
Shares fell 5.54% in extended trading to $4.54 from a $4.81 close, despite a +8.33% regular-session gain, suggesting the widening loss and heavy R&D spend outweighed the deal-close optimism.
Archer is simultaneously burning cash at a record pace while positioning to absorb a profitable $200M+ revenue defense business, a pivotal inflection for the eVTOL leader.
Archer's pivot toward defense via the Boeing assets and Anduril partnership mirrors the broader eVTOL sector's search for near-term revenue to offset heavy certification spending.
The Boeing transaction remains subject to one outstanding governmental/third-party approval and could be delayed or fail to close. Insitu's $200M+ revenue figure is based on current financials and estimates, not guaranteed results.