Air taxi maker Archer reports narrower-than-expected Q1 loss, expects operations in US cities to begin this year

Air taxi maker Archer Aviation reported its first-quarter earnings after markets closed on Monday afternoon. The company’s shares climbed over 4% in after-hours trading.

For its first quarter, Archer reported:

• An adjusted operating loss of $172.5 million, in line with Wall Street estimates of a $173 million loss. Archer had forecast a loss of between $160 million and $180 million for the quarter.

• A loss of $0.28 per share, compared to the $0.31 loss per share analysts polled by FactSet had predicted.

• $1.78 billion in cash, cash equivalents, and short-term investments, down about 10% from Q4 2025. Archer’s rival, Joby Aviation, ended Q1 with $2.5 billion.

For the second quarter, Archer guided for a loss of between $170 million and $200 million, with a midpoint deeper than Wall Street’s $177.7 million loss estimate.

Earlier this month, Archer announced it had secured an “established pathway for Archer to begin limited commercial operations” in the UAE, though it didn’t give a timeline. Archer shares are down more than 13% year to date and more than 50% from a high last October.

“Archer expects Midnight operations in American cities to begin this year through the White House’s eVTOL Integration Pilot Program (eIPP) and as part of its preparation to serve as the Official Air Taxi Provider of the LA28 Olympic Games, in coordination with the US Department of Transportation and FAA,” read the company’s shareholder letter.