Archer Aviation Inc. announced operating and financial results for the third quarter ended September 30, 2024. The Company issued a shareholder letter (LINK) discussing those results, as well as its fourth quarter 2024 estimates.
Commenting on third quarter 2024 results, Adam Goldstein, Archer’s founder and CEO said:
“Over the past six years, we have established the foundation to allow Archer to seamlessly transition from concept to commercialization. As we enter the final stretch of bringing Midnight to market, our strategy is paying off in the form of strong certification progress, the eVTOL industry's most mature scalable manufacturing facility in the U.S. and launch plans that are solidifying in the U.S and abroad. We believe we are in the strongest position in the industry to lead the transition to commercialization."
We have not reconciled our non-GAAP total operating expense estimates because certain items that impact non-GAAP total operating expense are uncertain or out of our control and cannot be reasonably predicted. In particular, stock-based compensation expense is impacted by the future fair market value of our common stock and other factors, all of which are difficult to predict, subject to frequent change, or not within our control. The actual amount of these expenses during 2024 will have a significant impact on our future GAAP financials. Accordingly, a reconciliation of non-GAAP total operating expenses is not available without unreasonable effort.
For more information please visit, www.archer.com.
