Overview
- Archer reported a third‑quarter loss of $0.20 per share, beating estimates, with adjusted EBITDA at a $116.1 million loss and fourth‑quarter guidance of a $110 million to $140 million loss.
- The company launched a registered direct offering of 81.25 million shares at $8, lifting total liquidity to more than $2 billion as the stock fell roughly 12%.
- Archer signed definitive agreements to buy Los Angeles’ Hawthorne Airport for $126 million in cash to serve as its LA air taxi hub and as a testbed for its AI‑driven operations platform.
- Recent testing milestones for the Midnight aircraft included a 55‑mile piloted flight and a new altitude high, though the company remains pre‑revenue and reliant on certification timelines.
- Investor signals were mixed, with ARK Investment buying about 3.0 million shares worth $28.8 million and United Airlines Ventures voicing support for Archer’s long‑term vision.