Archer Guided to a $200 Million Quarterly Loss. It Has About $1.6 Billion.
The air taxi maker's own guidance calls for losses as deep as $200 million a quarter. The balance sheet says how many of those quarters it can afford.
Archer Aviation, the air taxi company, reported a second-quarter loss of $263 million, with an expected adjusted EBITDA loss of $170 million to $200 million for the third quarter. Despite the losses, Archer closed out June with $1.56 billion in cash, cash equivalents, and short-term investments, which covers roughly two more years of losses. The company's only revenue for the second quarter came from operating Hawthorne Airport in Los Angeles, bringing in $5 million.
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