Archer Aviation
Developer of Midnight air taxis and Halo/Thunder autonomous hybrid VTOL aircraft.
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Profile
Develops Midnight electric air taxis and the Halo/Thunder autonomous hybrid VTOL platform for commercial and defense customers. Planned revenue combines aircraft sales, related technologies and services, and operated air-taxi flights; the aircraft business remains pre-commercial and tied to certification and manufacturing scale-up.
Develops Midnight, a piloted electric vertical-takeoff-and-landing aircraft for short air-taxi trips. Planned commercial revenue spans aircraft and technology sales, related services, and direct-to-consumer flights, with early operating work concentrated in the United States and United Arab Emirates.
Extends its aircraft stack through Halo and Thunder, the commercial and defense variants of an autonomous hybrid-electric VTOL platform developed with Anduril. Builds early aircraft on Silicon Valley manufacturing lines and applies those lessons to its Georgia high-volume facility, while keeping propulsion, flight controls, composites, and aviation AI among its core technologies.
Meaningful aircraft revenue has not begun. Commercialization depends on aircraft design completion, type and production approvals, manufacturing ramp-up, local operating permissions, suppliers, and partners; the proposed Wisk, Insitu, and SkyGrid acquisitions remain subject to closing.
Company facts
Categories
Key statistics
Year to date −29.3% · Average volume (30d) 39.7M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 11, 2026 | Cantor Fitzgerald | Reiterate | Overweight | $13 | $11 | |
| Aug 11, 2026 | Needham | Reiterate | Buy | $9 | ||
| Aug 11, 2026 | Wells Fargo | Target | $18 | |||
| May 12, 2026 | Canaccord Genuity | Reiterate | Buy | $13 | $12 | |
| Dec 1, 2025 | Goldman Sachs | Target | $11 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 10, 2026Q2 FY26 | −$0.34 | −$0.34 | −1.3% | $1.9M | $5.0M | +157.6% | +8.47% |
| May 11, 2026Q1 FY26 | −$0.25 | −$0.28 | −12.0% | $1.7M | $1.6M | −3.8% | −2.29% |
| Mar 2, 2026Q4 FY25 | −$0.17 | −$0.26 | −54.7% | $1.4M | $300.0K | −78.6% | −10.64% |
| Nov 6, 2025Q3 FY25 | −$0.30 | −$0.12 | +60.3% | $400.0K | — | — | −7.88% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $300.0K | $1.6M | $5.0M | |
| Gross profit | $0 | −$4.8M | −$5.1M | $9.9M | −$7.1M | $700.0K | |
| Operating income | −$144.0M | −$176.1M | −$174.8M | −$234.4M | −$252.1M | −$279.2M | |
| Net income | −$93.4M | −$206.0M | −$129.9M | −$188.9M | −$217.7M | −$263.2M | |
| Diluted EPS | −$0.17 | −$0.36 | −$0.20 | −$0.26 | −$0.28 | −$0.34 | |
| Gross margin | — | — | — | 3,300.0% | -443.8% | 14.0% | |
| Operating margin | — | — | — | -78,133.3% | -15,756.3% | -5,584.0% |
Fiscal years (4-quarter sums)FY21 $0 · FY22 $0 · FY23 $0 · FY24 $0 · FY25 $300.0K
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $1.56B · Total debt $125.6M · Total assets $2.21B · Shareholders' equity $1.89B
Dividends
No dividends on record.
Ownership
Shares outstanding 759.60M · Float 635.87M · 83.7% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Stellantis N.V. | 78.24M | 10.40% | 13D | Jan 6, 2026 |
| BlackRock, Inc. | 60.24M | 7.93% | 13F | Aug 7, 2026 |
| State Street Corp | 48.67M | 6.41% | 13F | Aug 7, 2026 |
| Ark Investment Management LLC | 31.96M | 4.21% | 13F | Aug 14, 2026 |
| Vanguard Capital Management LLC | 29.09M | 3.83% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 20, 2026 | Eric Lentell | officer: Chief Strategy Officer | −100,000 | $6.31 |
| Aug 17, 2026 | Priya Gupta | officer: Interim CFO | −10,015 | $6.41 |
| Aug 17, 2026 | Harsh Rungta | officer: Chief Accounting Officer | −13,880 | $6.41 |
| Aug 17, 2026 | Benjamin Lyon | officer: President, Aircraft OEM | −50,188 | $6.41 |
| Aug 17, 2026 | Eric Lentell | officer: Chief Legal & Strategy Officer | −52,762 | $6.41 |
Peers
- Joby Aviation
Closest U.S. eVTOL rival across aircraft, service, and defense
- Eve
Embraer-backed eVTOL and UAM ecosystem competitor
- BETA Technologies
Electric-aircraft peer spanning VTOL, charging, and defense uses
- Vertical Aerospace
UK eVTOL peer with passenger and hybrid-electric ambitions
- EHang (ADR)
Autonomous China eVTOL operator with certified passenger aircraft
- Textron
Incumbent vertical-lift and defense-aircraft competitor
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Archer Aviation | $5.75 | 0.00% | $4.37B | — | — | 633.0 | — |
| Joby Aviation | $7.01 | +0.57% | $6.87B | — | — | 59.0 | +257,493.3% |
| Eve | $2.29 | −0.85% | $804.6M | — | — | — | — |
| BETA Technologies | $20.45 | +1.44% | $4.48B | — | — | 99.9 | — |
| Vertical Aerospace | $0.6889 | +1.26% | $87.0M | — | — | — | — |
| EHang (ADR) | $4.60 | +2.22% | $167.4M | — | — | 3.2 | −44.1% |
| Textron | $83.04 | +0.01% | $14.28B | 15.7 | 12.5 | 0.9 | +8.5% |
| Median | 15.7 | 12.5 | 31.1 | +8.5% |