Archer Aviation Inc. 2026 Q2 Earnings Call
Review the key takeaways and the transcript of this earnings call.
- Archer Aviation reported Q2 revenue of $5 million, a 213% increase over the previous quarter, driven by growth in operations at Hawthorne Airport in Los Angeles.
- The company ended Q2 with $1.6 billion in liquidity and posted an adjusted EBITDA loss of $177 million, within their guidance range of $170 to $200 million and only a slight increase quarter over quarter.
- Archer is progressing well in the FAA certification process for its Midnight air taxi, being the only OEM in the fourth and final phase with a fully accepted means of compliance.
- The FAA approved Archer's quality management system this quarter, enhancing their ability to perform FAA conformity findings.
- Archer flew multiple piloted aircraft almost daily in Q2, including first inter-city flights in California, and plans to begin flights in the LA area and operations under the White House's IPE in Texas later this year.
- Archer launched ACES, the American Consortium for Electric Skyways, to deploy interoperable charging infrastructure across the US.
- The company announced a transaction to acquire Boeing-owned companies Wisk Aero, Insitu, and SkyGrid, with Boeing taking a strategic equity stake in Archer and the deal expected to close by year-end.
- Insitu is profitable with over $200 million in annual revenue and has built more than 4,000 Group 2 and 3 UAS with nearly 2 million autonomous flight hours.
- Archer introduced the Halo Thunder platform, a clean-sheet autonomous hybrid aircraft for commercial and defense use, and the Z aviation-specific AI foundation model for real-time airport surface trajectory prediction.
- The company aims to leverage Wisk's autonomy technology to accelerate Halo Thunder development and integrate SkyGrid's air traffic management technology with Z.
- Archer expects Insitu to contribute positive free cash flow post-acquisition, potentially offsetting spend in other areas.
- Management emphasized maintaining cash burn relatively flat post-acquisition while growing top line across air taxi, UAS, and AI platforms.
- Q3 adjusted EBITDA loss is estimated to remain within $170 to $200 million as the company matures Midnight testing, advances Halo, and develops AI solutions.
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Transcript
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I'll now hand the conference over to Kate Quehl, Head of Investor Relations.
Please go ahead. Welcome to Archer's earnings call.
This is Kate Quehl, Archer's Head of Investor Relations. Today, we will be making forward-looking statements that are based on current assumptions. We don't undertake any obligation to update those assumptions as a result of new information or future events. Risks and uncertainties may cause our actual results to differ materially from those contemplated by these statements. For more information about potential risks and uncertainties, review the risk factors in our SEC filings. Today, we will also be discussing both GAAP and non-GAAP financial measures. A reconciliation of those measures is included in our earnings release from today. Now, I'll turn it over to Adam.
Adam? Thanks, Kate. Today marks an important inflection point for Archer.
Let me spend some time walking you through the rationale for the exciting transaction we announced with Boeing earlier today. We entered into agreements to acquire three highly innovative Boeing-owned companies, Wisk Aero, Insitu, and SkyGrid, in exchange for Boeing taking a strategic equity stake in Archer. We anticipate closing the transaction by the end of the year. This partnership will help accelerate the evolution you've heard me talk about for a long time. Archer is a diversified aerospace and defense platform with a physical AI product portfolio that will span air taxis, unmanned aircraft systems from Group 2 to Group 5, purpose-built AI for aviation, and the vertical technology stack for autonomous flight. Let me walk you through how we got here.
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