First Revenue Recognition
ACHR recorded its inaugural revenue of $300K in FY2025 (vs. $0 in the prior year), marking a symbolic but early-stage commercial milestone for the company's eVTOL aircraft development program.
Source: 10-K Income Statement
Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
Archer Aviation (ACHR) reported its first nominal revenue of $300K in FY2025 while operating losses widened 43.1% to -$729.3M, driven by a 38.1% surge in R&D spending, though a major equity raise bolstered the balance sheet to $2.47B in total assets.
Revenue
$300,000
No YoY data
EPS (Diluted)
-$0.99
+30.28% YoY
Operating Income
-$729.3M
-43.08% YoY
Source: SEC XBRL
Archer Aviation (ACHR) reported FY2025 revenue of $300,000. Operating cash flow was negative $432.9M.
Last 4 quarters: 3 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026 | -0.25 | -0.33 | Beat +25.1% |
| Mar 2026 | -0.28 | -0.30 | Beat +6.7% |
| Dec 2025This filing | -0.26 | -0.24 | Miss -7.5% |
| Sep 2025 | -0.20 | -0.29 | Beat +31.9% |
Reported EPS of -$0.26 versus the -$0.24 analyst consensus — a -7.5% miss for Dec 2025.
Compiled by AI from this SEC filing
ACHR recorded its inaugural revenue of $300K in FY2025 (vs. $0 in the prior year), marking a symbolic but early-stage commercial milestone for the company's eVTOL aircraft development program.
Source: 10-K Income Statement
Research and development expenses surged 38.1% year-over-year to $493.9M in FY2025, reflecting intensified spending on aircraft certification, manufacturing readiness, and technology development as the company advances toward commercialization.
Source: 10-K Income Statement
Operating losses expanded 43.1% to -$729.3M in FY2025 from -$509.7M in the prior year, driven primarily by the sharp increase in R&D and operating expenditures with minimal offsetting revenue.
Source: 10-K Income Statement
Stockholders' equity nearly tripled, rising 192.7% to $2.20B from $752.6M, and total assets grew 146.3% to $2.47B, indicating a substantial equity financing round that significantly extended the company's cash runway.
Source: 10-K Balance Sheet
Cash and equivalents increased 22.4% to $1.02B, and the current ratio stands at an exceptionally high 19.9x, providing ACHR with substantial near-term liquidity to fund ongoing pre-revenue operations.
Source: 10-K Balance Sheet & Cash Flow Statement
Compiled by AI from this SEC filing · 3 high, 1 medium, 1 low
ACHR generated only $300K in revenue against $729.3M in operating losses in FY2025, resulting in an operating cash outflow of -$432.9M. The company remains entirely dependent on capital markets to fund operations, and any delay in FAA certification or commercial launch could accelerate cash depletion.
Source: 10-K Income Statement & Cash Flow Statement
R&D expenses grew 38.1% to $493.9M in FY2025, and total operating losses widened 43.1%. Without a corresponding ramp in revenue, continued cost escalation could outpace the company's ability to raise capital on favorable terms.
Source: 10-K Income Statement
Financing cash flows of $1.80B in FY2025 (up 119% YoY) indicate the company is almost entirely funded through equity issuances. Continued dilution risk is significant, as evidenced by the share count growth that contributed to EPS improving from -$1.42 to -$0.99 despite a larger net loss.
Source: 10-K Cash Flow Statement & EPS Data
Investing cash outflows surged to -$1.18B in FY2025 from -$82.0M in the prior year, a 1,334% increase, suggesting major capital expenditures or investments in manufacturing infrastructure. These commitments increase fixed cost obligations before revenue is established.
Source: 10-K Cash Flow Statement
Long-term debt grew 25.5% to $80.3M in FY2025, and while the debt-to-equity ratio remains low at 0.12x, any inability to service debt obligations during the pre-revenue phase could create financial stress if equity markets become less receptive.
Source: 10-K Balance Sheet
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $ | 300,000.00 $ | 0.00 $ | — |
Cost of Revenue $ | 200,000.00 $ | 0.00 $ | — |
Operating Income $M | -729.30 $M | -509.70 $M | -43.08% |
Net Income $M | -618.20 $M | -536.80 $M | -15.16% |
EPS (Basic) $ | -0.99 $ | -1.42 $ | +30.28% |
EPS (Diluted) $ | -0.99 $ | -1.42 $ | +30.28% |
R&D Expense $M | 493.90 $M | 357.70 $M | +38.08% |
Answers draw on this SEC filing and the data on this page
Archer Aviation posted a net loss of $263.2 million in Q2 FY2026 as R&D spending jumped 52%, while announcing a major acquisition of Boeing's Wisk, Insitu, and SkyGrid to expand its autonomous aviation platform.
Archer Aviation reported its first-ever revenue of $1.6M in Q1 2026, but net losses deepened sharply to -$217.7M as R&D spending surged 65.6% YoY to $171.7M, reflecting heavy investment in eVTOL aircraft development ahead of commercial launch.