ACHR Archer Aviation Inc.

Overview and Growth

Archer Aviation Inc. generated $300.00K of revenue in fiscal 2025, with net loss of $618.20M and an operating cash outflow of $432.90M. The $300.00K revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. The company reported diluted EPS of -$0.99, adding a shareholder-level measure to the absolute income figures considered below. Diluted shares averaged 624.31M; this is the reported share base over which the company’s diluted per-share earnings were spread. Total assets stood at $2.47B, showing the scale of resources supporting revenue, earnings, liquidity, and financing. Revenue equaled 0.0x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

After reported cost of revenue, the company retained $100.00K as gross profit before recognizing operating expenses and other items. Gross profit represented 33.3% of revenue, showing how much of the top line remained after direct costs. Operations produced a $729.30M operating loss before non-operating and tax effects. The bottom-line result was a net loss of $618.20M after operating, financing, tax, and other recognized items. Negative EBITDA totaled $709.30M, confirming that the earnings deficit remained before depreciation and amortization. The company reported a pretax loss of $617.90M, before the effect of income taxes. The reported income-tax provision was $300.00K, the amount recognized between pretax income and the final net-income result. The net loss equaled 28.1% of period-end equity, showing the deficit relative to book capital. The net loss equaled 25.1% of period-end assets, showing the deficit relative to the asset base. The net loss widened to $618.20M from $536.80M in fiscal 2024.

Liquidity and Capital Structure

The company held $2.47B of assets against $263.10M of liabilities and $2.20B of equity, revealing how the asset base was financed. The near-term balance sheet paired $2.08B of current assets with $104.40M of current liabilities at the reporting date. The current ratio was 19.89x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. The company held $1.02B in cash and equivalents, a narrower liquidity measure than total current assets. The cash balance equaled 978.4% of current liabilities, showing how much near-term coverage came from cash alone. Total debt was $80.30M, establishing the amount of borrowing carried within the company’s capital structure. Against book equity, debt measured 0.04x, placing the company’s financial leverage in clear balance-sheet terms. Relative to total assets, debt measured 3.3%, showing how much of the asset base was matched by borrowing. Book equity represented 89.3% of total assets, quantifying the balance-sheet share supported by shareholder capital. Liabilities represented 10.7% of total assets, quantifying the liability-funded share of the company’s resource base. Cash and equivalents equaled 41.4% of total assets, showing the liquid cash component within the company’s broader resource base. The asset base changed 146.3% from $1.00B in fiscal 2024, leaving current total assets higher year over year. Reported equity changed 192.7% from $752.60M in fiscal 2024, placing the current capital base higher year over year. Cash and equivalents were 22.4% higher than fiscal 2024 cash of $834.50M, showing the year-over-year change in liquid resources.

Cash Flow and Earnings Quality

Cash flow from operations was an outflow of $432.90M, showing that operations absorbed cash during the period. The company spent $78.80M on capital expenditures while operations also absorbed cash, so both ongoing activity and investment drew on liquidity during the period. Negative free cash flow was $511.70M, leaving a cash deficit after capital spending and reducing financial flexibility. The free-cash-flow deficit equaled 20.8% of total assets, placing the cash shortfall against the company’s resource base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.