Archer’s accumulated losses top USD 2.3 billion, latest 10K filing reveals

Archer’s latest 10K filing with the US Securities and Exchange Commission reveals that the company’s accumulated losses have passed USD 2.3 billion by the end of 2025, with total liabilities of USD 2.47 billion.

On the plus side of the ledger, the company says it has USD 2.08 billion in assets, of which USD 1.9 billion is in the form of cash and cash equivalents.

In the letter to shareholders accompanying the annual results, Archer CEO Adam Goldstein says the company will begin FAA TIA “as early as this year” but also allows that it is yet to have a prototype that can perform the entire flight envelope.

However, the letter adds that the company’s latest prototype has received clearance to fly from the FAA and that accordingly it will begin working towards piloted transition flights “in the coming months”.

Like one of its rivals, Archer also says it will carry out flights with passengers this year – but adds the caveat, in small print, that for this purpose it defines passenger carrying as having “a person(s) on the aircraft other than the pilot” rather than the more generally accepted meaning of the term.