Archer Aviation (ACHR) financial statements
Archer Aviation reported revenue of $300,000 in fiscal 2025.
Net income was -$618M.
Free cash flow was -$512M.
The diluted share count rose 1145% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Archer Aviation's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | — | — | — | $0 | $0 | $300,000 |
| Cost of revenue | — | — | — | $0 | $0 | $300,000 |
| Gross profit | — | — | — | $0 | $0 | $0 |
| Research and development | $21M | $64M | $172M | $276M | $358M | $494M |
| Selling, general and admin | $4M | $177M | $165M | $168M | — | — |
| Operating income | -$25M | -$358M | -$347M | -$447M | -$510M | -$729M |
| Interest expense | $200,000 | $1M | — | — | — | — |
| Pre-tax income | -$25M | -$348M | -$317M | -$457M | -$537M | -$618M |
| Income tax | — | $0 | $0 | $500,000 | $200,000 | $300,000 |
| Net income | -$25M | -$348M | -$317M | -$458M | -$537M | -$618M |
| EPS (diluted) | -$0.49 | -$3.14 | -$1.32 | -$1.69 | -$1.42 | -$0.99 |
| Diluted shares | 50M | 111M | 240M | 270M | 377M | 624M |
| Gross margin | — | — | — | — | — | 0.0% |
| Operating margin | — | — | — | — | — | -243100.0% |
| Net margin | — | — | — | — | — | -206066.7% |
Balance sheet
Fiscal years, from Archer Aviation's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Cash and short-term investments | $37M | $747M | $531M | $465M | $834M | $2.0B |
| Total current assets | $37M | $755M | $546M | $480M | $858M | $2.1B |
| Property, plant and equipment | $2M | $6M | $12M | $58M | $127M | $254M |
| Goodwill | — | — | — | — | $0 | $100,000 |
| Total assets | $42M | $768M | $574M | $554M | $1.0B | $2.5B |
| Total current liabilities | $4M | $28M | $53M | $114M | $71M | $104M |
| Long-term debt | $300,000 | $9M | $0 | $7M | $64M | $80M |
| Total liabilities | $6M | $70M | $80M | $187M | $249M | $263M |
| Shareholders' equity | $36M | $699M | $493M | $367M | $753M | $2.2B |
| Net debt | -$36M | -$728M | -$60M | -$457M | -$770M | -$941M |
Cash flow
Fiscal years, from Archer Aviation's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$23M | -$108M | -$200M | -$272M | -$369M | -$433M |
| Capital spending | $1M | $4M | $7M | $44M | $82M | $79M |
| Free cash flow | -$24M | -$112M | -$207M | -$316M | -$451M | -$512M |
| Stock-based compensation | $200,000 | $124M | $103M | $45M | $109M | $224M |
| Net borrowing | $900,000 | $20M | -$10M | -$2M | $58M | $0 |
| Free cash flow margin | — | — | — | — | — | -170566.7% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for ACHR.
Open ACHR in InvestinglyQuestions
What was Archer Aviation's revenue in 2025?
$300,000 in fiscal 2025, from its 10-K filing.
How much free cash flow does Archer Aviation generate?
-$512M in fiscal 2025 (operating cash flow minus capital spending).
From Archer Aviation's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.