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Max Knoblauch11/6/25

Archer Aviation sinks after reporting better-than-expected Q3 loss, announces it will acquire LA’s Hawthorne Airport

Air taxi maker Archer Aviation reported its Q3 results on Thursday, and its shares climbed more than 6% before turning negative.

The company posted a loss per share of $0.20, better than the $0.30 loss analysts polled by FactSet expected.

Archer announced it would acquire Los Angeles’ Hawthorne Airport for $126 million as a strategic hub for its planned LA air taxi network.

Cash is vital for Archer, which is without revenue as it seeks FAA certification. The company ended its third quarter with $1.64 billion in cash (and equivalents), down from last quarter’s $1.72 billion but more than 3x the amount from the same period a year ago.

Archer’s rival Joby Aviation, which reported its third-quarter results on Wednesday, has a cash pile of $978.1 million.

Archer reported adjusted operating expenses of $121.2 million. Looking ahead, Archer said it expects adjusted earnings before interest and taxes to be a loss of between $110 million and $140 million for the fourth quarter. Wall Street expected a $120 million loss.

Earlier this week, Archer shares fell amid the IPO of its electric aircraft rival Beta Technologies. Archer shares are down about 9% this year as of Thursday’s close, far underperforming Joby’s growth of 76%.

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Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

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