Archer Aviation Loses $274.6 Million in Q3 as FAA Certificate Clears Los Angeles Flights
Archer Aviation said Monday its Midnight air taxi received a Federal Aviation Administration certificate that clears flights in Los Angeles in the coming weeks, as the company reported a third-quarter net loss of $274.6 million, according to its earnings release.
Revenue was $5.1 million. The net loss, or 35 cents a share, compared with $129.9 million, or 20 cents, a year earlier.
The adjusted EBITDA loss was $178.5 million, at the favorable end of the company's guided range of $170 million to $200 million. Archer ended the quarter with $1.4 billion in cash, cash equivalents and short-term investments.
Los Angeles and the Boeing deal
The FAA's Market Survey Special Airworthiness Certificate unlocks piloted operations in Los Angeles as Archer prepares to carry passengers under the Department of Transportation's eVTOL Integration Pilot Program and for the LA28 Games, the company said.
Archer also said its acquisition of Boeing's Wisk, Insitu and SkyGrid businesses is nearing completion. The deal remains subject to regulatory approvals, according to the release.
"With our first aircraft in Los Angeles and Boeing set to become our largest shareholder following our transaction close, I believe we are building an end-to-end aerospace and defense platform," founder and Chief Executive Adam Goldstein said.
Defense work
Archer said it began testing the turboshaft engine for its Halo/Thunder hybrid autonomous aircraft and remains on track to begin full-scale flight testing next year with Anduril. It also announced a multi-year relationship with Formula 1 to explore air taxi service at Grand Prix events.
For the first nine months of 2026, Archer's net loss was $755.5 million, up from $429.3 million a year earlier.
By the numbers
- Q3 revenue: $5.1 million
- Net loss: $274.6 million, or $0.35 a share
- Adjusted EBITDA loss: $178.5 million
- Liquidity: $1.4 billion
Sources
- Form 8-K with third quarter 2026 earnings release, Archer Aviation Inc., filed Nov. 9, 2026, accession 0001824502-26-000087
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