• **Net Revenue:** N/A (pre-commercial phase)
• **Adjusted EBITDA:** -$116.1M
• **Cash, Cash Equivalents & Short-Term Investments:** $1.64B
• **Operating Expenses:** $174.8M (Non-GAAP: $121.2M)
• **Net Loss:** -$129.9M
**Key Developments:**
• 🛫 **Acquisition of Hawthorne Airport (Los Angeles)** for **$126M** in cash — to become the **strategic hub** for Archer’s LA air-taxi network and AI-powered aviation testbed.
• 💰 **Raised $650M in new equity capital**, bringing total liquidity to **over $2B**.
• 🚀 **Midnight Flight Milestones:** Longest piloted flight of 55 miles at 126 mph; altitude record of 10,000 feet; showcased at the California International Airshow.
• 🔧 **Acquired Lilium’s patent portfolio** (~300 assets) for €18M, expanding Archer’s global IP holdings to **1,000+ patents** — among the strongest in advanced air mobility.
• 🌍 **Global Expansion:** Test and demo flights in the UAE; progress toward in-country certification. Strategic air-mobility partnerships with **Korean Air**, **Japan Airlines**, and **Sumitomo’s Soracle JV** in Tokyo & Osaka.
**Q4’25 Outlook:**
• **Adj. EBITDA:** Loss of $110M–$140M expected
💬 *CEO Adam Goldstein:* “The era of advanced aviation has arrived — not as a distant vision, but as a tangible reality. At Archer, we are not waiting for the future; we are building it.”