Markets
markets
Max Knoblauch

Archer reports deeper-than-expected Q4 loss

Air taxi maker Archer Aviation reported its fourth-quarter earnings results after the bell on Monday. Its shares fell 2.4% after-hours, eating into some of the gains the stock made in the regular session.

The company posted a loss of $0.26 per share, compared to the $0.24 loss per share expected by analysts polled by FactSet.

Archer ended 2025 with $1.96 billion in cash and cash equivalents, up from Q3’s $1.64 billion and up from $834.5 million in the same quarter the year prior.

Looking ahead to the first quarter, Archer said it expects adjusted earnings before interest, taxes, depreciation, and amortization of between -$160 million and -$180 million. Wall Street expected EBITDA of -$104.7 million in Q1.

Last week, Archer announced that it would partner with SpaceX’s Starlink to bring satellite internet into its Midnight aircraft. In its fourth-quarter shareholder letter, the company said it is targeting its first passenger flights this year, mirroring rival Joby’s timeline.

In a sign that investors, like CEO Adam Goldstein, see Archer’s most promising near-term opportunity in its defense business, its shares closed up more than 5% on Monday as investors scooped up defense contractor stocks. Goldstein told Sherwood News last year that he sees defense, with a focus on the autonomous and attritable industry, as the company’s “front and center” division for the next decade. Per the company’s shareholder letter:

“Our partnership with Anduril is at the core of our defense strategy, and it continues to accelerate. We are designing an autonomous, hybrid-electric VTOL aircraft built for dual use. For defense, it will fly alongside armed reconnaissance attack helicopters as a loyal wingman. The aircraft is designed to meet the needs of the U.S. and its allies for decades to come.”

Electric aircraft rivals Beta Technologies and Joby Aviation also ended the day higher.

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