Archer Aviation is building the piloted Midnight eVTOL aircraft and an AI-driven operations platform aimed at enabling urban air taxi services. In Q3, the company logged key flight milestones, including a 55-mile trip completed in 31 minutes at over 126 mph and a separate flight to 10,000 feet, while also showcasing the aircraft at the California International Airshow. Archer is expanding globally, running demonstration flights in Abu Dhabi, partnering exclusively with Korean Air for South Korea, and collaborating with Japan Airlines and Sumitomo’s Soracle for services in Osaka and Tokyo. Domestically, it agreed to acquire control of the 80-acre Hawthorne Airport near LAX for $126 million in cash to serve as the hub of its Los Angeles network and as a testbed for AI-powered aviation systems, with an eye toward the LA28 Olympic Games. The company also bought Lilium’s 300-asset AAM patent portfolio for €18 million, boosting its intellectual-property holdings to over 1,000 assets. Archer raised $650 million in new equity, lifting total liquidity to more than $2 billion and ending the quarter with $1.64 billion in cash, cash equivalents, and short-term investments. GAAP operating expenses for the quarter were $174.8 million, and management guided to a Q4 adjusted EBITDA loss of $110-$140 million.

Total raised

$1.6B

Funding rounds

4

Latest round

Equity

Latest activity

Nov 2025