Archer Aviation Inc. reported a net loss of $618.2 million for the fiscal year ending December 31, 2025, an increase of 15.2% compared to a net loss of $536.8 million in the previous year. The company generated $0.3 million in revenue, marking a significant milestone as it began leasing hangar space at Hawthorne Airport, which it acquired in December 2025. This acquisition is part of Archer's strategy to establish an operational hub for its air taxi services in Los Angeles. The total operating expenses for the year were $729.6 million, up 43.1% from $509.7 million in 2024, driven primarily by increased research and development costs.
Research and development expenses rose to $493.9 million, a 38.1% increase from the previous year, reflecting Archer's commitment to advancing its electric vertical take-off and landing (eVTOL) aircraft, Midnight. General and administrative expenses also increased by 54.9% to $235.4 million, largely due to higher personnel costs and stock-based compensation. The company reported a significant increase in stock-based compensation expenses, totaling $223.5 million for the year, compared to $108.8 million in 2024.
Operationally, Archer has made strides in its commercial and defense sectors. The company is working with aviation authorities to certify its Midnight aircraft and has engaged in partnerships to develop air taxi networks in key U.S. cities and international markets, particularly in the UAE. As of December 31, 2025, Archer's workforce comprised 1,660 employees, including 1,160 full-time staff, reflecting its ongoing expansion efforts. The company has also initiated a dual-use hybrid-electric VTOL aircraft platform for defense applications, in collaboration with Anduril Industries.
Looking ahead, Archer anticipates continued investment in its aircraft development and manufacturing capabilities, with plans to ramp up production at its facilities in Silicon Valley and Georgia. The company has sufficient liquidity, with cash and short-term investments totaling $1.96 billion as of year-end, which it believes will support operations for at least the next 12 months. However, Archer acknowledges the risks associated with its early-stage business model, including the potential for ongoing losses until significant revenue generation begins. The company remains focused on achieving certification and launching its air taxi services, which are critical to its long-term growth strategy.
About Archer Aviation Inc.
Archer Aviation Inc. develops electric vertical takeoff and landing (eVTOL) aircraft and advanced aviation technologies for commercial urban air mobility and defense markets. Its core product, the Midnight aircraft, targets air taxi services in major cities, combining electric propulsion and flight control innovations for safety and efficiency. Archer’s business model includes aircraft manufacturing, certification, direct sales, and aerial ride-sharing services, leveraging strategic partnerships and a scalable production infrastructure.
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