Archer Aviation's stock is experiencing a surge in trading volume, reaching 60.6 million, driven by a narrowing quarterly net loss of $93.4 million. This represents a notable improvement from a $198.1 million loss in the previous quarter. The company also reported a cash balance exceeding $1 billion, bolstered by recent capital raises and strategic partnerships. CEO Adam Goldstein emphasized advancements in their civil and defense operations, preparing for the commercial launch of their Midnight aircraft in the UAE later this year. Manufacturing efforts are ramping up in the U.S. to support these initiatives.
Shares of Archer Aviation (NYSE: ACHR) are up about 22%, or $2.03 on the day, partly due to a narrowing quarterly net loss.
The company recorded a net loss of $93.4 million, which is a substantial improvement from the $198.1 million loss in Q4 2024.
As we noted earlier this week, for its first quarter, Archer Aviation highlighted a significant improvement in its financial position with a cash balance exceeding $1 billion.
According to CEO Adam Goldstein, "This quarter, the team made strong progress across our civil and defense efforts as we continue to deepen our strategic partner relationships."
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