ACHR Archer Aviation Inc. Class A Common Stock
About Archer Aviation Inc. Class A Common Stock Company overview from Wikipedia
Archer Aviation Inc. is a publicly traded aerospace and defense technology company headquartered in San Jose, California, which is developing eVTOL aircraft for urban air taxi and defense operations.
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Archer Aviation Inc. is a publicly traded aerospace and defense technology company headquartered in San Jose, California, which is developing eVTOL aircraft for urban air taxi and defense operations.
Its eVTOL aircraft is designed to allow airline operators to transport people in and around cities in an air taxi service and are claimed to have a range of up to 100 miles (160 km) at speeds of up to 150 miles per hour (240 km/h). United Airlines is its first major corporate partner, having conditionally ordered two hundred Archer electric aircraft.
History
Archer was founded on October 16, 2018, by Adam Goldstein and Brett Adcock to develop electric vertical takeoff and landing aircraft. The company was originally started by Goldstein and Adcock and privately funded. Later, Marc Lore, a Walmart executive, also supported its launch.
In 2022, Adcock departed from both the leadership team and the board. Goldstein is currently the sole CEO and Chairman of the Board of Directors of the company.
Initially, Archer worked on developing aircraft with the Herbert Wertheim College of Engineering at the University of Florida; Goldstein and Adcock are both alumni. Archer now operates a research lab on the University of Florida's campus in Gainesville, Florida, which was funded by Goldstein and Adcock.
In August 2022, United Airlines paid Archer a $10 million deposit for 100 electric flying taxis. On November 10, 2022, Archer and United Airlines announced plans for the first electric air taxi route in the US, with an initial route between Newark Liberty International Airport and the Downtown Manhattan Heliport. Archer became an IPO (ACHR)on September 20, 2021.
On November 17, 2022, Archer unveiled details of its production vehicle dubbed "Midnight". The aircraft is a piloted, four-passenger air taxi the company said will enter flight testing by the second quarter of 2023 and service by 2025. However, as of late 2026, Midnight has not begun FAA's TIA testing or demostrated the Midnight's ability to fly in EVTOL with humans on board.
Archer announced its Maker prototype had achieved full remote transition from vertical to horizontal flight on November 29, 2022. This milestone was said to be an important validation step for the flight control systems and aircraft architecture that is also applicable to its Midnight production aircraft.
In January 2023, Archer announced a partnership in which Stellantis, a multinational automobile manufacturer, would provide up to $150 million in equity capital to support Archer's growth and to collaborate on the development and production of Archer's eVTOL aircraft for urban air mobility. The purpose of the partnership solidifies Stellantis as Archer's exclusive contract manufacturer for mass production of its eVTOL aircraft.
In March 2023, Archer and United Airlines announced plans for an electric air taxi route between O'Hare International Airport and Vertiport Chicago on the city's near west side.
On June 5, 2024 Archer received its Part 135 Air Carrier and Operator Certificate from the Federal Aviation Administration (FAA).
In July 2024, Archer and Southwest Airlines established an agreement to develop operational concepts for air taxi networks.
In December 2024, Archer had completed the construction of ARC, a new 400,000 square-foot eVTOL manufacturing facility in Covington, Georgia.
On Feb, 2025 Archer Aviation received its Part 141 certification from the Federal Aviation Administration (FAA), enabling the company to establish its pilot training academy.
In June 2025, at the Paris Air Show, Archer Aviation and Dubai-based Jetex signed an agreement to collaborate on developing eVTOL facilities, starting in the United Arab Emirates at the Jetex Abu Dhabi private terminal. The partnership, signed by Archer CEO Adam Goldstein and Jetex Founder & CEO Adel Mardini, will see Jetex provide access to its network of private terminals to support the launch of Archer’s Midnight air taxi services in the region.
In July 2025, Archer Aviation’s Midnight eVTOL aircraft conducted its first test flight outside the United States at Al Bateen Executive Airport in Abu Dhabi. The flight tested performance under UAE-specific conditions—such as high heat, humidity, and dust—and marked a major milestone in advancing Archer’s planned urban air mobility operations in the region. It was supported by the Smart and Autonomous Systems Council (SASC) and observed by senior officials from the UAE General Civil Aviation Authority and related aviation authorities.
In November 2025, Archer acquired Hawthorne Municipal Airport in Los Angeles for US$126 million for use by its EVTOL craft.
In August 2026, Archer Aviation acquired Boeing subsidiaries Wisk Aero, Insitu, and Skygrid in exchange for 19.75% of Archer's shares.
Aircraft
Maker
Maker, Archer's full size demonstrator aircraft, was unveiled on June 10, 2021, at an event in Los Angeles, California. Maker was a fully electric vertical takeoff and landing aircraft with 12 electric propellers: six tilt-props (each with five blades) for forward and VTOL flight and six aft propellers that are stationary (each propeller with two blades) for VTOL-only flight. The aircraft is powered by six independent battery packs. In November 2021, Archer moved Maker from its headquarters to its flight test facility to start initial test flights. Maker also received its airworthiness certificate to start flight test operations from the FAA in December 2021. Archer completed its first remote flight demo within December 2021.
Midnight
Midnight is Archer’s planned production aircraft. The aircraft was unveiled on November 17, 2022 at an event in Palo Alto, California. Archer’s Midnight is a piloted, four-passenger aircraft designed to perform rapid back-to-back flights with minimal charge time between flights. Midnight has 12 propellers: six tilt props in the front of the wing for forward and VTOL flight and six aft propellers that are stationary for VTOL flight only. Midnight is designed to travel at up to 150 mph (240 km/h) with a maximum range of 100 miles (161 km). The aircraft is powered by six independent battery packs. On June 12, 2024, Midnight completed its first remote transition flight without a human on board. Archer flew over 400 test flights in 2024.
As of mid-2026, Midnight is undergoing piloted EVTOL tests and has not yet flown with a human on board in EVTOL configuration. The Midnight aircraft’s first remote test flight outside the United States took place in July 2025 at Al Bateen Executive Airport in Abu Dhabi, where it was evaluated under local environmental conditions as part of preparations for regional certification.
In February 2026, Archer Aviation announced plans to attempt a piloted transition, as well as integrate Starlink satellite connectivity into its Midnight electric air taxi aircraft. The system is intended to provide reliable communication between the aircraft and ground operations while supporting future urban air mobility services.
Thunder
Thunder was co-developed with Anduril Industries.
Halo
Halo is a planned commercial variant of the Thunder. It uses the same airframe and systems, without weaponry. The plane fits inside a standard shipping container for transport. Halo is targeted at offshore energy supply, heavy freight logistics, maritime operations, and emergency medical cargo transport.
Its top speed 278 kn (515 km/h; 320 mph), with a range of 800 nmi (1,500 km; 920 mi). Its operating ceiling is 18,000 ft (5,500 m). Its is powered by a hybrid-electric propulsion system. A generator powers electric motors that drive dual tiltrotors, which provide lift.
Its design is modular. Archer designed the airframe, battery architecture, powertrain, and rotor dynamics, based on commercial supply chains. Anduril integrated the (artificial intelligence) flight software, defense systems, and command-and-control system via its Lattice platform.
Air taxi
Archer's aerial ridesharing service, also referred to as Urban Air Mobility (UAM), has been pushed back multiple years and is not yet operational. The launch of the taxi service relies on the launch of the Midnight Aircraft, which has not yet begun FAA Certification Archer is working with Urban Movement Labs to help build the necessary infrastructure and service routes. It is also working with the City of Miami on similar plans.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
ACHR Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
ACHR Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Financial Health Debt, liquidity, solvency — balance sheet strength
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
ACHR Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
- Strong Buy 2 13.3%
- Buy 9 60.0%
- Hold 4 26.7%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
9 analysts · 2026-08-18Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.25 | $-0.33 | 0.08% |
| March 31, 2026 | $-0.28 | $-0.30 | 0.02% |
| Dec. 31, 2025 | $-0.26 | $-0.24 | -0.02% |
| Sept. 30, 2025 | $-0.20 | $-0.29 | 0.09% |
| June 30, 2025 | $-0.36 | $-0.26 | -0.10% |
| March 31, 2025 | $-0.17 | $-0.27 | 0.10% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| ACHR | $5.60B | -7.6 | — | -206066.7% | -31.8% | — |
| LOAR | $6.37B | 90.7 | 23.2% | 14.5% | 6.4% | 52.7% |
| BETA | — | -2.2 | 136.0% | -2094.2% | -70.7% | 72.2% |
| MRCY | $7.52B | -252.4 | 7.8% | -3.0% | -2.0% | 28.6% |
| VSEC | — | — | — | — | — | — |
| AIR | — | 23.2 | 19.0% | 5.7% | 11.5% | 18.8% |
| LUNR | — | -22.2 | -7.9% | -39.6% | 9.4% | — |
| FLY | $3.56B | -4.6 | 162.9% | -186.6% | -219.4% | 19.2% |
| ATRO | — | 67.0 | 8.4% | 3.4% | 14.8% | 29.9% |
| RDW | $1.46B | -3.3 | 10.3% | -67.5% | -52.0% | 5.1% |
| DCO | $1.42B | -38.1 | 4.9% | -4.5% | -5.7% | 26.9% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 15
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Revenue | $300.0K | $0 | $0 | |
| Cost of Revenue | $200.0K | $0 | $0 | |
| R&D Expense | $494M | $358M | $276M | |
| SG&A Expense | · | · | $168M | |
| Operating Expenses | $730M | $510M | $447M | |
| Operating Income | $-729M | $-510M | $-447M | |
| Other Non-op | $59M | $-49M | $-27M | |
| Pretax Income | $-618M | $-537M | $-457M | |
| Income Tax | $300.0K | $200.0K | $500.0K | |
| Net Income | $-618M | $-537M | $-458M | |
| EPS (Basic) | $-0.99 | $-1.42 | $-1.69 | |
| EPS (Diluted) | $-0.99 | $-1.42 | $-1.69 | |
| Shares (Basic) | 624,307,768 | 376,734,395 | 270,408,132 | |
| Shares (Diluted) | 624,307,768 | 376,734,395 | 270,408,132 | |
| EBITDA | $-709M | $-498M | $-447M |
Balance Sheet 27
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Cash & Equivalents | $1.02B | $834M | $465M | |
| Short-term Investments | · | $0 | $0 | |
| Prepaid Expense | $47M | $12M | $8M | |
| Other Current Assets | $57M | $5M | $800.0K | |
| Current Assets | $2.08B | $858M | $480M | |
| PP&E (Net) | $254M | $127M | $58M | |
| PP&E (Gross) | $289M | $145M | $67M | |
| Accum. Depreciation | $35M | $18M | $9M | |
| Goodwill | $100.0K | $0 | · | |
| Intangibles | $80M | $300.0K | $400.0K | |
| Other Non-current Assets | $15M | $8M | $7M | |
| Total Assets | $2.47B | $1.00B | $554M | |
| Accounts Payable | $30M | $15M | $14M | |
| Short-term Debt | · | · | $0 | |
| Current Liabilities | $104M | $71M | $114M | |
| Capital Leases | $36M | $11M | $13M | |
| Other Non-current Liabilities | $13M | $13M | $13M | |
| Total Liabilities | $263M | $249M | $187M | |
| Long-term Debt | $80M | $64M | $7M | |
| Total Debt | $80M | $64M | $7M | |
| Common Stock | $100.0K | $100.0K | · | |
| Paid-in Capital | $4.51B | $2.44B | $1.52B | |
| Retained Earnings | $-2.30B | $-1.69B | $-1.15B | |
| AOCI | $-1M | $-300.0K | $0 | |
| Stockholders' Equity | $2.20B | $753M | $367M | |
| Liabilities + Equity | $2.47B | $1.00B | $554M | |
| Shares Outstanding | 744,000,000 | 503,777,464 | · |
Cash Flow 15
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| D&A | $20M | $12M | $6M | |
| Stock-based Comp | $224M | $109M | $45M | |
| Deferred Tax | $0 | $0 | $0 | |
| Amort. of Intangibles | $900.0K | $100.0K | · | |
| Other Non-cash | $-58M | $48M | · | |
| Operating Cash Flow | $-433M | $-369M | $-272M | |
| CapEx | $79M | $82M | $44M | |
| Investing Cash Flow | $-1.18B | $-82M | $421M | |
| Net Debt Issued | $0 | $0 | $-10M | |
| Stock Issued | $1.80B | $55M | $95M | |
| Net Stock Activity | $1.80B | $55M | $95M | |
| Financing Cash Flow | $1.80B | $820M | $250M | |
| Net Change in Cash | $188M | $370M | $399M | |
| Taxes Paid | $0 | · | · | |
| Free Cash Flow | $-512M | $-451M | $-316M |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Operating Margin | -243100.0% | · | · | |
| Net Margin | -206066.7% | · | · | |
| Pretax Margin | -205966.7% | · | · | |
| EBITDA Margin | -236433.3% | · | · | |
| ROA | -35.7% | -69.0% | -81.2% | |
| ROE | -31.8% | -88.0% | -125.2% | |
| ROIC | -32.0% | -62.4% | -119.5% |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Current Ratio | 19.9 | 12.1 | 4.2 | |
| Quick Ratio | 9.8 | 11.7 | 4.1 | |
| Debt / Equity | 0.0 | 0.1 | 0.0 | |
| LT Debt / Equity | 0.0 | 0.1 | 0.0 |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Asset Turnover | 0.0 | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Revenue TTM | $300.0K | $0 | $0 | |
| Net Income TTM | $-618M | $-537M | $-458M | |
| Market Cap | $5.60B | · | · | |
| Enterprise Value | $4.65B | · | · | |
| P/E | -7.6 | -6.9 | -3.6 | |
| P/S | 18650.8 | · | · | |
| P/B | 2.5 | · | · | |
| P / Tangible Book | 2.6 | · | · | |
| P / Cash Flow | -12.9 | · | · | |
| P / FCF | -10.9 | · | · | |
| EV / EBITDA | -6.6 | · | · | |
| EV / FCF | -9.1 | · | · | |
| EV / Revenue | 15513.4 | · | · | |
| Earnings Yield | -13.2% | -14.6% | -27.5% |
Income Statement 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $5M | $2M | · | · | $0 | $0 | |
| R&D Expense | $186M | $172M | $147M | $121M | $122M | $104M | |
| SG&A Expense | · | · | · | · | · | $40M | |
| Operating Expenses | $284M | $256M | $235M | $175M | $176M | $144M | |
| Operating Income | $-279M | $-255M | $-234M | $-175M | $-176M | $-144M | |
| Other Non-op | $2M | $21M | $28M | $29M | $-40M | $42M | |
| Pretax Income | $-263M | $-218M | $-189M | $-130M | $-206M | $-93M | |
| Income Tax | $0 | $100.0K | $0 | $100.0K | $100.0K | $100.0K | |
| Net Income | $-263M | $-218M | $-189M | $-130M | $-206M | $-93M | |
| EPS (Basic) | $-0.34 | $-0.28 | $-0.26 | $-0.20 | $-0.36 | $-0.17 | |
| EPS (Diluted) | $-0.34 | $-0.28 | $-0.26 | $-0.20 | $-0.36 | $-0.17 | |
| Shares (Basic) | 781,700,000 | 766,850,002 | -1,156,172,644 | 660,887,146 | 579,200,000 | 540,427,085 | |
| Shares (Diluted) | 781,700,000 | 766,850,002 | -1,156,172,644 | 660,887,146 | 579,200,000 | 540,427,085 | |
| EBITDA | $-279M | $-247M | · | $-170M | $-171M | $-140M |
Balance Sheet 25
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $853M | $951M | $1.02B | $596M | $1.72B | $1.03B | |
| Prepaid Expense | $56M | $58M | $47M | $31M | $23M | $22M | |
| Other Current Assets | $24M | $58M | $57M | $13M | $4M | $6M | |
| Current Assets | $1.65B | $1.90B | $2.08B | $1.69B | $1.76B | $1.06B | |
| PP&E (Net) | $327M | $279M | $254M | $168M | $148M | $132M | |
| PP&E (Gross) | $375M | $320M | $289M | $198M | $174M | $154M | |
| Accum. Depreciation | $49M | $41M | $35M | $31M | $26M | $22M | |
| Goodwill | $80M | $2M | $100.0K | · | · | · | |
| Intangibles | $94M | $82M | $80M | $5M | $6M | $300.0K | |
| Other Non-current Assets | $22M | $21M | $15M | $16M | $17M | $10M | |
| Total Assets | $2.21B | $2.32B | $2.47B | $1.90B | $1.94B | $1.21B | |
| Accounts Payable | $32M | $25M | $30M | $24M | $23M | $15M | |
| Current Liabilities | $161M | $105M | $104M | $93M | $79M | $67M | |
| Capital Leases | $39M | $37M | $36M | $19M | $13M | $10M | |
| Other Non-current Liabilities | $18M | $15M | $13M | $10M | $14M | $14M | |
| Total Liabilities | $299M | $243M | $263M | $245M | $257M | $203M | |
| Long-term Debt | $80M | $80M | $80M | · | · | $64M | |
| Total Debt | $80M | $80M | · | · | · | $64M | |
| Common Stock | $100.0K | $100.0K | $100.0K | · | · | · | |
| Paid-in Capital | $4.68B | $4.60B | $4.51B | $3.77B | $3.67B | $2.79B | |
| Retained Earnings | $-2.78B | $-2.52B | $-2.30B | $-2.11B | $-1.99B | $-1.78B | |
| AOCI | $-4M | $-3M | $-1M | $-2M | $-100.0K | $-200.0K | |
| Stockholders' Equity | $1.89B | $2.08B | $2.20B | $1.65B | $1.68B | $1.01B | |
| Liabilities + Equity | $2.21B | $2.32B | $2.47B | $1.90B | $1.94B | $1.21B | |
| Shares Outstanding | 770,000,000 | 757,911,866 | 744,046,194 | · | · | · |
Cash Flow 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|---|
| D&A | $10M | $8M | $6M | $5M | $5M | $4M | |
| Stock-based Comp | $86M | $70M | $89M | $53M | $52M | $30M | |
| Deferred Tax | $0 | $0 | $0 | $0 | $0 | $0 | |
| Amort. of Intangibles | $2M | $1M | · | · | $0 | $0 | |
| Other Non-cash | · | $-10M | · | · | · | $-35M | |
| Operating Cash Flow | $-156M | $-149M | $-129M | $-106M | $-103M | $-95M | |
| CapEx | $37M | $33M | $30M | $20M | $19M | $10M | |
| Investing Cash Flow | $53M | $79M | $-73M | $-1.07B | $-24M | $-10M | |
| Net Debt Issued | · | $-100.0K | · | · | · | · | |
| Stock Issued | $0 | $0 | $1.80B | $-1.15B | $850M | $302M | |
| Net Stock Activity | · | $0 | · | · | · | · | |
| Financing Cash Flow | $5M | $0 | $629M | $46M | $821M | $300M | |
| Net Change in Cash | $-98M | $-70M | $426M | $-1.13B | $694M | $196M | |
| Free Cash Flow | · | $-182M | · | · | · | $-105M |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|---|
| Operating Margin | -5584.0% | -15912.5% | · | · | · | · | |
| Net Margin | -5264.0% | -13606.2% | · | · | · | · | |
| Pretax Margin | -5264.0% | -13600.0% | · | · | · | · | |
| EBITDA Margin | -5584.0% | -15425.0% | · | · | · | · | |
| ROA | -12.7% | -12.3% | · | -10.2% | -17.0% | -10.8% | |
| ROE | -14.7% | -14.1% | · | -12.2% | -20.4% | -13.4% | |
| ROIC | -14.2% | -11.8% | · | -10.6% | -10.5% | -13.4% |
Liquidity & Solvency 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 10.2 | 18.1 | · | 18.2 | 22.3 | 15.8 | |
| Quick Ratio | 5.3 | 9.0 | · | 6.4 | 21.9 | 15.3 | |
| Debt / Equity | 0.0 | 0.0 | · | · | · | 0.1 | |
| LT Debt / Equity | 0.0 | 0.0 | · | · | · | 0.1 |
Efficiency 1
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | · | · | · |
Valuation (TTM) 11
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|---|
| Net Income TTM | $-817M | $-647M | · | $-545M | $-522M | $-432M | |
| Market Cap | $3.64B | $3.92B | · | · | · | · | |
| Enterprise Value | $2.87B | $3.05B | · | · | · | · | |
| P/E | -4.0 | -5.1 | · | -9.4 | -9.5 | -6.2 | |
| P/B | 1.9 | 1.9 | · | · | · | · | |
| P / Tangible Book | 2.1 | 2.0 | · | · | · | · | |
| P / Cash Flow | · | -26.3 | · | · | · | · | |
| P / FCF | · | -21.6 | · | · | · | · | |
| EV / EBITDA | -10.3 | -12.3 | · | · | · | · | |
| EV / FCF | · | -16.8 | · | · | · | · | |
| Earnings Yield | -24.9% | -19.5% | · | -10.7% | -10.5% | -16.0% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $300.0K | $0 | $0 | — | — |
| Operating Margin % | -243100.0% | — | — | — | — |
| Net Income | $-618M | $-537M | $-458M | $-317M | $-348M |
| Diluted EPS | $-0.99 | $-1.42 | $-1.69 | $-1.32 | $-3.14 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.0 | 0.1 | 0.0 | 0.0 | 0.0 |
| Current Ratio | 19.9 | 12.1 | 4.2 | 10.2 | 26.7 |
| Quick Ratio | 9.8 | 11.7 | 4.1 | 1.3 | 26.4 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-512M | $-451M | $-316M | $-207M | $-112M |
Latest News Recent headlines mentioning this company
- Better eVTOL Stock: Joby Aviation vs. Archer Aviation
- Archer Aviation Has Fallen 50% and Could Be a Long-Term Buying Opportunity
- eVTOL Stock Face-Off: Is Joby Aviation or Archer Aviation the Better Buy Right Now?
- Why Archer Aviation Stock Popped 18.6% Last Month
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Institutional owners (13F) 590 filers · $1.4B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 84 (-17 vs prior Q) | 73 (-7 vs prior Q) | 177 (-2 vs prior Q) | 157 (+2 vs prior Q) | +2.7M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| STATE STREET CORP | $230,212,056 | 48,670,625 | 16.71% | Shares |
| ARK Investment Management LLC | $151,189,352 | 31,963,922 | 10.98% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $137,590,833 | 29,088,971 | 9.99% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $135,699,689 | 28,689,152 | 9.85% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $68,132,512 | 14,401,230 | 4.95% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $38,439,291 | 8,126,700 | 2.79% | Call option |
| NORGES BANK | $37,263,385 | 7,878,094 | 2.71% | Shares |
| Amova Asset Management Americas, Inc. | $35,596,805 | 7,541,696 | 2.58% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $35,580,711 | 7,522,349 | 2.58% | Shares |
| VANGUARD GROUP INC | $31,489,143 | 4,187,386 | 2.29% | Shares |
| Alpine Global Management, LLC | $27,646,278 | 5,844,879 | 2.01% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $20,481,553 | 4,330,138 | 1.49% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $19,679,099 | 4,160,486 | 1.43% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $16,674,612 | 3,525,288 | 1.21% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $16,512,619 | 3,491,040 | 1.20% | Shares |
| D. E. Shaw & Co., Inc. | $15,136,473 | 3,200,100 | 1.10% | Call option |
| United Airlines Holdings, Inc. | $14,973,936 | 3,165,737 | 1.09% | Shares |
| JANE STREET GROUP, LLC | $12,385,032 | 2,618,400 | 0.90% | Put option |
| Hudson Bay Capital Management LP | $12,171,865 | 2,573,333 | 0.88% | Shares |
| Blackstone Inc. | $11,825,000 | 2,500,000 | 0.86% | Shares |
| GOLDMAN SACHS GROUP INC | $11,726,086 | 2,479,088 | 0.85% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $11,688,776 | 2,471,200 | 0.85% | Put option |
| JANE STREET GROUP, LLC | $11,630,597 | 2,458,900 | 0.84% | Call option |
| Clear Street Group Inc. | $11,351,134 | 2,399,817 | 0.82% | Shares |
| WOLVERINE TRADING, LLC | $10,063,985 | 1,042,900 | 0.73% | Call option |
| IQ EQ FUND MANAGEMENT (IRELAND) Ltd | $7,651,806 | 1,617,718 | 0.56% | Shares |
| Defiance ETFs, LLC | $6,541,981 | 1,329,671 | 0.47% | Shares |
| ExodusPoint Capital Management, LP | $6,159,056 | 1,302,126 | 0.45% | Shares |
| Swiss National Bank | $6,006,627 | 1,269,900 | 0.44% | Shares |
| BANK OF AMERICA CORP /DE/ | $5,749,491 | 1,215,537 | 0.42% | Shares |
| INFINITUM ASSET MANAGEMENT, LLC | $5,260,645 | 1,112,187 | 0.38% | Shares |
| GOLDMAN SACHS GROUP INC | $4,881,360 | 1,032,000 | 0.35% | Call option |
| Generali Powszechne Towarzystwo Emerytalne | $4,730,000 | 1,000,000 | 0.34% | Shares |
| Alta Fundamental Advisers LLC | $4,730,000 | 1,000,000 | 0.34% | Shares |
| MILLENNIUM MANAGEMENT LLC | $4,520,825 | 955,777 | 0.33% | Shares |
| CITADEL ADVISORS LLC | $4,493,027 | 949,900 | 0.33% | Put option |
| BlackRock, Inc. | $4,245,208 | 897,507 | 0.31% | Shares |
| SORA INVESTORS LLC | $4,212,481 | 890,588 | 0.31% | Shares |
| ALLIANCEBERNSTEIN L.P. | $4,089,160 | 790,940 | 0.30% | Shares |
| RHUMBLINE ADVISERS | $3,873,746 | 818,977 | 0.28% | Shares |
| GROUP ONE TRADING LLC | $3,775,325 | 798,166 | 0.27% | Shares |
| LPL Financial LLC | $3,773,005 | 797,676 | 0.27% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $3,702,061 | 716,066 | 0.27% | Shares |
| IMC-Chicago, LLC | $3,623,814 | 766,134 | 0.26% | Shares |
| SEVEN GRAND MANAGERS, LLC | $3,547,500 | 750,000 | 0.26% | Shares |
| WOLVERINE TRADING, LLC | $3,340,830 | 346,200 | 0.24% | Put option |
| XTX Topco Ltd | $3,336,868 | 705,469 | 0.24% | Shares |
| MIC Capital Management UK LLP | $3,311,000 | 700,000 | 0.24% | Shares |
| FMR LLC | $3,310,570 | 699,909 | 0.24% | Shares |
| CITADEL ADVISORS LLC | $3,302,680 | 698,241 | 0.24% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $3,139,674 | 663,779 | 0.23% | Shares |
| HBK INVESTMENTS L P | $3,074,500 | 650,000 | 0.22% | Shares |
| Alyeska Investment Group, L.P. | $3,007,202 | 635,772 | 0.22% | Shares |
| Cetera Investment Advisers | $2,997,142 | 633,645 | 0.22% | Shares |
| 1248 Management, LLC | $2,907,190 | 614,628 | 0.21% | Shares |
| RAYMOND JAMES FINANCIAL INC | $2,729,920 | 577,150 | 0.20% | Shares |
| Man Group plc | $2,561,456 | 541,534 | 0.19% | Shares |
| Intellectus Partners, LLC | $2,555,600 | 540,296 | 0.19% | Shares |
| CITIGROUP INC | $2,534,060 | 535,742 | 0.18% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $2,520,475 | 532,870 | 0.18% | Shares |
| Trexquant Investment LP | $2,214,444 | 468,170 | 0.16% | Shares |
| Yarbrough Capital, LLC | $2,207,955 | 466,798 | 0.16% | Shares |
| Balyasny Asset Management L.P. | $2,102,447 | 444,492 | 0.15% | Shares |
| MetLife Investment Management, LLC | $1,862,641 | 393,793 | 0.14% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $1,780,769 | 376,484 | 0.13% | Shares |
| Cubist Systematic Strategies, LLC | $1,735,542 | 181,163 | 0.13% | Shares |
| DNB Asset Management AS | $1,518,112 | 320,954 | 0.11% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $1,468,613 | 310,489 | 0.11% | Shares |
| JANUS HENDERSON GROUP PLC | $1,400,873 | 270,700 | 0.10% | Shares |
| Private Advisor Group, LLC | $1,357,730 | 287,043 | 0.10% | Shares |
| Collar Capital Management, LLC | $1,329,745 | 281,130 | 0.10% | Shares |
| Invesco Ltd. | $1,267,432 | 267,956 | 0.09% | Shares |
| AMERICAN CENTURY COMPANIES INC | $1,260,715 | 266,536 | 0.09% | Shares |
| Odyssean, LLC | $1,234,246 | 260,940 | 0.09% | Shares |
| Vestmark Advisory Solutions, Inc. | $1,205,474 | 254,857 | 0.09% | Shares |
| Walleye Trading LLC | $1,184,392 | 250,400 | 0.09% | Call option |
| Baird Financial Group, Inc. | $1,121,313 | 237,064 | 0.08% | Shares |
| Vanguard Global Advisers, LLC | $1,118,971 | 236,569 | 0.08% | Shares |
| State of New Jersey Common Pension Fund D | $1,085,639 | 229,522 | 0.08% | Shares |
| Cresset Asset Management, LLC | $1,079,145 | 228,149 | 0.08% | Shares |
| Granahan Investment Management, LLC | $1,070,905 | 226,407 | 0.08% | Shares |
| UBS Group AG | $1,070,110 | 226,239 | 0.08% | Shares |
| Holocene Advisors, LP | $1,037,748 | 219,397 | 0.08% | Shares |
| CARY STREET PARTNERS FINANCIAL LLC | $1,019,343 | 215,506 | 0.07% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $1,019,254 | 215,487 | 0.07% | Shares |
| BARCLAYS PLC | $1,014,736 | 214,532 | 0.07% | Shares |
| MILLENNIUM MANAGEMENT LLC | $999,449 | 211,300 | 0.07% | Call option |
| Crawford Fund Management, LLC | $992,354 | 209,800 | 0.07% | Put option |
| JONES FINANCIAL COMPANIES LLLP | $988,435 | 202,964 | 0.07% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $982,421 | 207,700 | 0.07% | Call option |
| SIMPLEX TRADING, LLC | $971,333 | 205,356 | 0.07% | Shares |
| Police & Firemen's Retirement System of New Jersey | $940,570 | 198,852 | 0.07% | Shares |
| Brevan Howard Capital Management LP | $922,061 | 194,939 | 0.07% | Shares |
| GRATIA CAPITAL, LLC | $911,911 | 192,793 | 0.07% | Shares |
| Walleye Trading LLC | $892,868 | 188,767 | 0.06% | Shares |
| FRED ALGER MANAGEMENT, LLC | $874,866 | 184,961 | 0.06% | Shares |
| COMMONWEALTH EQUITY SERVICES, LLC | $872,800 | 184,525 | 0.06% | Shares |
| OSAIC HOLDINGS, INC. | $867,995 | 183,516 | 0.06% | Shares |
| Stablepoint Partners, LLC | $842,829 | 178,188 | 0.06% | Shares |
| J. Safra Sarasin Holding AG | $827,229 | 174,838 | 0.06% | Shares |
Company insiders 19 insiders · 10 officers · 7 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Adam D Goldstein | Chief Executive Officer | July 26, 2025 A | 27,895,804 | 0 | 0 | $0 |
| Priya Gupta | Interim CFO | Aug. 15, 2026 M | 202,784 | 0 | 1 | $-64,196 |
| Mark Mesler | CHIEF FINANCIAL OFFICER | May 15, 2025 M | 711,525 | 0 | 0 | $0 |
| Ben Lu | Chief Financial Officer | Dec. 8, 2021 A | — | 0 | 0 | $0 |
| Benjamin Lyon | President, Aircraft OEM | Aug. 15, 2026 M | 45,359 | 0 | 1 | $-321,705 |
| Eric Lentell | Chief Strategy Officer | Aug. 20, 2026 S | 85,011 | 0 | 3 | $-987,974 |
| Harsh Rungta | Chief Accounting Officer | Aug. 15, 2026 M | 110,847 | 0 | 1 | $-88,971 |
| Thomas Paul Muniz | CHIEF TECHNOLOGY OFFICER | Aug. 15, 2025 M | 1,327,469 | 0 | 0 | $0 |
| Tosha Perkins | CHIEF PEOPLE PARTNERSHIPS OFF. | Aug. 15, 2025 M | 295,337 | 0 | 0 | $0 |
| Andy Missan | CHIEF LEGAL OFF. & SECRETARY | March 28, 2024 M | 674,460 | 0 | 0 | $0 |
| Maria Pinelli | Director | June 26, 2026 A | 201,787 | 0 | 0 | $0 |
| Michael Spellacy | Director | June 26, 2026 M | 73,746 | 0 | 0 | $0 |
| Deborah Diaz | Director | June 26, 2026 A | 172,632 | 0 | 0 | $0 |
| Fred M Diaz | Director | June 26, 2026 A | 126,457 | 0 | 0 | $0 |
| Oscar Munoz | Director | June 26, 2026 A | 461,223 | 0 | 0 | $0 |
| Kenneth Moelis | Director | Dec. 11, 2020 J | — | 0 | 0 | $0 |
| Marc E. Lore | 10% owner | Jan. 2, 2024 S | 27,926,358 | 0 | 0 | $0 |
| Atlas Crest Investment LLC | 10% owner | Sept. 16, 2021 C | 12,500,000 | 0 | 0 | $0 |
| Brett Adcock | — | June 14, 2023 C | 0 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 3 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Stellantis N.V., FCA US LLC, FCA NORTH AMERICA HOLDINGS LLC, FCA FOREIGN SALES HOLDCO LTD., SFS UK 1 LTD., STELLANTIS EUROPE S.P.A. ×11 filings | Jan. 6, 2026 | 10.40% | Amendment | — | SEC |
| Adam Goldstein, Capri Growth LLC ×3 filings | Nov. 18, 2024 | — | Initial filing | — | SEC |
| Brett Adcock, Hight Drive Growth LLC ×12 filings | Nov. 13, 2023 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 45 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| ARKX · ARK ETF Trust | 3.72% | 5,791,617 NS | April 30, 2026 | N-PORT |
| ARKQ · ARK ETF Trust | 2.85% | 10,465,183 NS | April 30, 2026 | N-PORT |
| PBW · Invesco Exchange-Traded Fund Trust | 2.05% | 1,340,372 SH | Aug. 21, 2026 | Daily |
| ARKK · ARK ETF Trust | 1.55% | 17,544,599 NS | April 30, 2026 | N-PORT |
| CCSO · Tidal Trust II | 0.33% | 26,724 NS | April 30, 2026 | N-PORT |
| ITA · iShares Trust | 0.28% | 6,521,172 SH | Aug. 21, 2026 | Daily |
| NXTE · INVESTMENT MANAGERS SERIES TRUST II | 0.28% | 33,455 NS | June 30, 2026 | N-PORT |
| DFEN · Direxion Shares ETF Trust | 0.21% | 134,082 NS | April 30, 2026 | N-PORT |
| IWN · iShares Trust | 0.20% | 4,894,749 SH | Aug. 21, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.16% | 460,948 SH | Aug. 19, 2026 | Daily |
| IWM · iShares Trust | 0.13% | 17,241,812 SH | Aug. 21, 2026 | Daily |
| ISCG · iShares Trust | 0.13% | 208,541 SH | Aug. 21, 2026 | Daily |
| RSSL · Global X Funds | 0.11% | 263,837 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.10% | 28,649 NS | May 31, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.10% | 3,878,124 SH | Aug. 19, 2026 | Daily |
| SCHA · SCHWAB STRATEGIC TRUST | 0.09% | 2,962,242 NS | May 31, 2026 | N-PORT |
| BKMC · BNY Mellon ETF Trust | 0.09% | 92,860 NS | April 30, 2026 | N-PORT |
| VBK · VANGUARD INDEX FUNDS | 0.08% | 8,546,297 SH | Aug. 19, 2026 | Daily |
| ISCB · iShares Trust | 0.06% | 29,138 SH | Aug. 21, 2026 | Daily |
| UWM · ProShares Trust | 0.06% | 22,407 NS | May 31, 2026 | N-PORT |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.06% | 203,174 NS | April 30, 2026 | N-PORT |
| ESML · iShares Trust | 0.06% | 272,359 SH | Aug. 21, 2026 | Daily |
| IWO · iShares Trust | 0.06% | 1,355,734 SH | Aug. 21, 2026 | Daily |
| FIDU · FIDELITY COVINGTON TRUST | 0.05% | 182,130 NS | April 30, 2026 | N-PORT |
| URTY · ProShares Trust | 0.04% | 22,672 NS | May 31, 2026 | N-PORT |
| VB · VANGUARD INDEX FUNDS | 0.04% | 14,820,351 SH | Aug. 19, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.04% | 158,196 SH | Aug. 19, 2026 | Daily |
| VIS · VANGUARD WORLD FUND | 0.04% | 769,628 SH | Aug. 19, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.04% | 185,180 SH | Aug. 21, 2026 | Daily |
| WSML · iShares Trust | 0.03% | 36,979 SH | Aug. 21, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.03% | 7,329,799 SH | Aug. 19, 2026 | Daily |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.02% | 97,445 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.02% | 25,571 NS | May 31, 2026 | N-PORT |
| GSSC · Goldman Sachs ETF Trust | 0.02% | 31,977 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.02% | 569 NS | May 31, 2026 | N-PORT |
| SCHK · SCHWAB STRATEGIC TRUST | 0.01% | 48,943 NS | May 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.01% | 922,360 SH | Aug. 21, 2026 | Daily |
| SCHB · SCHWAB STRATEGIC TRUST | 0.01% | 359,675 NS | May 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.01% | 19,712 NS | April 30, 2026 | N-PORT |
| IWV · iShares Trust | 0.01% | 167,835 SH | Aug. 21, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 20,551,314 SH | Aug. 19, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.00% | 538,395 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 55,608 SH | Aug. 19, 2026 | Daily |
| FTLS · First Trust Exchange-Traded Fund III | -0.21% | -852,605 NS | April 30, 2026 | N-PORT |
| SMLF · iShares Trust | — | 209,499 SH | Aug. 21, 2026 | Daily |