Archer Aviation Earnings and FAA Certificate

Archer Aviation earnings released on Nov. 9, 2026, showed mixed third-quarter results as the company said the FAA issued a Market Survey Special Airworthiness Certificate for its Midnight aircraft. The certificate permits piloted operations in Los Angeles and advances type-certification testing.

Quarter Results, Guidance, and FAA Certification

Archer reported third-quarter revenue of $5.1 million, primarily from initial engine deliveries to Anduril for its Omen program. The company posted a net loss of $274.6 million, total operating expenses of $294.3 million, and an adjusted EBITDA loss of $178.5 million, a non-GAAP measure of earnings before interest, taxes, depreciation, and amortization. The adjusted EBITDA loss fell within its previously issued $170 million–$200 million range. Archer guided fourth-quarter revenue of $5 million–$6 million and an adjusted EBITDA loss of $185 million–$205 million.

The net loss widened from $263.2 million in the second quarter, operating expenses rose from $284.2 million, and the adjusted EBITDA shortfall increased by $1.4 million sequentially. The SEC accepted Archer’s Form 10-Q for the quarter ended Sept. 30, 2026, on Nov. 9 at 17:02:12 ET.

Management said the FAA issued a Market Survey Special Airworthiness Certificate for Midnight’s conventional takeoff-and-landing configuration. This certificate allows piloted market-survey operations in Los Angeles and supports preparation for passenger-carrying activities under the Department of Transportation’s electric vertical takeoff and landing (eVTOL) Integration Pilot Program and the LA28 Games. The certificate does not constitute full FAA type certification, which remains underway. Midnight is in the fourth and final phase of type certification and is nearing completion of piloted transition flight testing by year-end.

Liquidity and Boeing-Related Transaction

Archer reported cash, cash equivalents, and short-term investments of $1.35 billion as of Sept. 30, 2026. The balance declined by about $207 million during the quarter, including $164.6 million used in operations.

The company filed a Form 8-K on Nov. 9 furnishing the shareholder letter and Q3 press release. Archer said its planned acquisition of Boeing’s Wisk, SkyGrid, and Insitu businesses was nearing completion but remained subject to regulatory approvals and other closing conditions.

Together, the guidance and the conditional status of the Boeing-related transaction indicate Archer will continue relying on its cash balance to fund operations, certification activities, and near-term strategic steps into year-end.

"Midnight has received its Market Survey Special Airworthiness Certificate from the FAA," said Adam Goldstein in the company’s Q3 materials.