Archer Guided to a $200 Million Quarterly Loss. It Has About $1.6 Billion.
Key PointsArcher guided to a third-quarter adjusted EBITDA loss of $170 million to $200 million after losing $177.1 million on that basis in the second quarter.
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.
Brief written by urgent.news from Motley Fool's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
