Archer announced it raised $301.75 million, further helping Archer’s strong financial position and strategically positioning it to advance the development of its hybrid aircraft platform for the defense market and beyond. Some leading institutional investors participated in this financing, including funds and accounts managed by BlackRock.
This raise brings Archer’s total liquidity position to about $1 billion. And Archer has long maintained one of the strongest balance sheets in the industry, and this additional capital further strengthens its position.
Archer launched Archer Defense in December to develop next-generation aircraft for defense applications. And the first product from this division is planned to be a hybrid-propulsion, vertical-take-off-and landing aircraft.
With a further reinforced balance sheet, Archer also continues to be well-positioned for its commercialization effort. Combined with the completion of construction of its ARC manufacturing facility, continued progress towards FAA certification, and launch of its cross-industry consortium in the UAE, Archer is tracking well towards its goals in 2025 and beyond.
Archer is also releasing some of its preliminary estimated financial results for the fourth quarter of 2024, reporting that its GAAP operating expenses will be within the range of $120 million to $140 million and its total non-GAAP operating expenses are in line with its guidance range of $95 million to $110 million. And Archer is also confirming that it does not expect that its total non-GAAP operating expenses for the first quarter of 2025 will materially increase over its Q4 guided range.
KEY QUOTE:
“I believe the opportunity for advanced vertical lift aircraft across defense appears to be substantially larger than I originally expected. As a result, we are raising additional capital to help us invest in critical capabilities like composites and batteries to help enable us to capture this opportunity and more.”
- Adam Goldstein, founder and CEO of Archer
