Archer Aviation’s Maker eVTOL aircraft sits at the test facility in California. [Courtesy: Archer Aviation]
Key Takeaways:
Archer Aviation ended Q4 2021 with $746.9 million in cash and reported Q4 revenue of $53.3 million, stating these funds are critical for earning Part 135 certification for its Maker eVTOL by 2024.
The company made tangible progress in Q4 2021, including the Maker aircraft's first hover test and critical wind tunnel tests, while simplifying its business roadmap into four key areas to drive success.
Archer successfully fended off criminal charges in a trade secret lawsuit from competitor Wisk Aero, though a civil suit is pending, and aims to secure the FAA G-2 paper in 2022 to further its path as a potential early entrant in the advanced air mobility market.
In its fourth-quarter and full-year earnings call Monday, eVTOL manufacturer Archer Aviation (NYSE: ACHR) said it ended Q4 2021 with $746.9 million in cash and cash equivalents.
In a statement, Archer said, “The importance of certification is ingrained in Archer’s DNA,” and that the capital will be critical for earning its Part 135 certification on its Maker vehicle by 2024.
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Michael Wildes holds a master’s degree in Logistics & Supply Chain Management, and a bachelor’s degree in Aeronautical Science, both from Embry-Riddle Aeronautical University. Previously, he worked at the university’s flight department as a Flight Check Airman, Assistant Training Manager, and Quality Assurance Mentor. He holds MEI, CFI & CFII ratings. Follow Michael on Twitter @Captainwildes.
