2022 Q2 Form 10-Q Financial Statement
#000162828022022259 Filed on August 10, 2022
Income Statement
Concept | 2022 Q2 | 2022 Q1 | 2021 Q4 |
---|---|---|---|
Revenue | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $42.20M | $37.60M | $33.49M |
YoY Change | 46.61% | 74384.94% | 47779.91% |
% of Gross Profit | |||
Research & Development | $37.80M | $27.50M | $19.30M |
YoY Change | 231.58% | 172.28% | |
% of Gross Profit | |||
Depreciation & Amortization | $700.0K | $600.0K | $500.0K |
YoY Change | 133.33% | 200.0% | |
% of Gross Profit | |||
Operating Expenses | $80.20M | $65.30M | $53.30M |
YoY Change | 137.28% | -31.19% | 23347.12% |
Operating Profit | -$80.20M | -$65.30M | |
YoY Change | 137.28% | -31.19% | |
Interest Expense | $500.0K | $400.0K | -$500.0K |
YoY Change | -607.2% | ||
% of Operating Profit | |||
Other Income/Expense, Net | $8.000M | $6.500M | $10.50M |
YoY Change | -197.96% | ||
Pretax Income | -$71.70M | -$59.20M | -$43.30M |
YoY Change | 117.93% | -37.62% | 299.15% |
Income Tax | $0.00 | $0.00 | |
% Of Pretax Income | |||
Net Earnings | -$71.70M | -$59.20M | -$43.30M |
YoY Change | 117.93% | -37.62% | 299.15% |
Net Earnings / Revenue | |||
Basic Earnings Per Share | -$0.30 | -$0.25 | |
Diluted Earnings Per Share | -$0.30 | -$0.25 | -$180.2K |
COMMON SHARES | |||
Basic Shares Outstanding | 238.1M shares | 239.8M shares | |
Diluted Shares Outstanding | 238.1M shares | 239.8M shares |
Balance Sheet
Concept | 2022 Q2 | 2022 Q1 | 2021 Q4 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $654.8M | $704.2M | $746.9M |
YoY Change | 220089.66% | 158065.44% | 80565.72% |
Cash & Equivalents | $654.8M | $704.2M | $746.6M |
Short-Term Investments | $0.00 | ||
Other Short-Term Assets | $1.400M | $400.0K | $300.0K |
YoY Change | 456.37% | 0.76% | |
Inventory | |||
Prepaid Expenses | $10.10M | $9.300M | $7.600M |
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $669.2M | $716.8M | $754.8M |
YoY Change | 121793.47% | 85007.6% | 1918.18% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $8.300M | $5.900M | $5.900M |
YoY Change | 268.75% | ||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $1.200M | $2.100M | $2.700M |
YoY Change | 1427.3% | ||
Total Long-Term Assets | $22.00M | $21.10M | $13.60M |
YoY Change | -95.6% | -95.78% | 209.09% |
TOTAL ASSETS | |||
Total Short-Term Assets | $669.2M | $716.8M | $754.8M |
Total Long-Term Assets | $22.00M | $21.10M | $13.60M |
Total Assets | $691.2M | $737.9M | $768.4M |
YoY Change | 38.03% | 47.29% | 1738.28% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $2.000M | $1.800M | $3.400M |
YoY Change | 2476.76% | 1419.95% | 61.9% |
Accrued Expenses | $32.30M | $23.00M | $15.40M |
YoY Change | 337.89% | 459.13% | 31968.64% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | ||
Long-Term Debt Due | $9.400M | $9.500M | $9.500M |
YoY Change | 1483.33% | ||
Total Short-Term Liabilities | $43.70M | $34.30M | $28.30M |
YoY Change | 456.17% | 700.37% | 644.74% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $4.700M | $7.000M | $9.300M |
YoY Change | 3000.0% | ||
Other Long-Term Liabilities | $1.000M | $300.0K | $400.0K |
YoY Change | -97.38% | -99.34% | 33.33% |
Total Long-Term Liabilities | $5.700M | $7.300M | $9.700M |
YoY Change | -85.09% | -83.88% | 1516.67% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $43.70M | $34.30M | $28.30M |
Total Long-Term Liabilities | $5.700M | $7.300M | $9.700M |
Total Liabilities | $73.00M | $74.20M | $69.50M |
YoY Change | 58.41% | 49.7% | 1077.97% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$504.5M | -$432.8M | -$373.6M |
YoY Change | 1009.25% | 787.83% | 1348.06% |
Common Stock | |||
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $618.2M | $663.7M | $698.9M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $691.2M | $737.9M | $768.4M |
YoY Change | 38.03% | 47.29% | 1738.28% |
Cashflow Statement
Concept | 2022 Q2 | 2022 Q1 | 2021 Q4 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$71.70M | -$59.20M | -$43.30M |
YoY Change | 117.93% | -37.62% | 299.15% |
Depreciation, Depletion And Amortization | $700.0K | $600.0K | $500.0K |
YoY Change | 133.33% | 200.0% | |
Cash From Operating Activities | -$45.60M | -$36.80M | -$48.90M |
YoY Change | 9483.25% | 206.67% | 8595.5% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$1.500M | $600.0K | -$500.0K |
YoY Change | -45.45% | ||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | -$1.500M | -$600.0K | -$500.0K |
YoY Change | -5460.97% | -45.45% | -99.9% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | $2.500M | ||
YoY Change | |||
Cash From Financing Activities | -2.300M | -$2.400M | 100.0K |
YoY Change | -866.67% | -99.98% | |
NET CHANGE | |||
Cash From Operating Activities | -45.60M | -$36.80M | -48.90M |
Cash From Investing Activities | -1.500M | -$600.0K | -500.0K |
Cash From Financing Activities | -2.300M | -$2.400M | 100.0K |
Net Change In Cash | -49.40M | -$39.80M | -49.30M |
YoY Change | 33312.24% | 203.82% | -6419.46% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$45.60M | -$36.80M | -$48.90M |
Capital Expenditures | -$1.500M | $600.0K | -$500.0K |
Free Cash Flow | -$44.10M | -$37.40M | -$48.40M |
YoY Change | 185.5% |
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Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
58482421 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
238927711 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
238927711 | shares | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
57147078 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
57147078 | shares | |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
698900000 | usd |
CY2022Q1 | us-gaap |
Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
|
0 | usd |
CY2022Q1 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
|
16000000.0 | usd |
CY2022Q1 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
100000 | usd |
CY2022Q1 | us-gaap |
Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
|
1200000 | usd |
CY2022Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
6700000 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-59200000 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
663700000 | usd |
CY2022Q2 | us-gaap |
Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
|
usd | |
CY2022Q2 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
|
17900000 | usd |
CY2022Q2 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
200000 | usd |
CY2022Q2 | us-gaap |
Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
|
1600000 | usd |
CY2022Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
6500000 | usd |
CY2022Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-71700000 | usd |
CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
618200000 | usd |
CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
35900000 | usd |
CY2021Q1 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
0 | usd |
CY2021Q1 | us-gaap |
Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
|
78200000 | usd |
CY2021Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
900000 | usd |
CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-94900000 | usd |
CY2021Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
20100000 | usd |
CY2021Q2 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
0 | usd |
CY2021Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
1000000.0 | usd |
CY2021Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-32900000 | usd |
CY2021Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-11800000 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-130900000 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-127800000 | usd | |
us-gaap |
Other Depreciation And Amortization
OtherDepreciationAndAmortization
|
1300000 | usd | |
us-gaap |
Other Depreciation And Amortization
OtherDepreciationAndAmortization
|
400000 | usd | |
us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
300000 | usd | |
us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
0 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
50100000 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1900000 | usd | |
achr |
Fair Value Adjustment Of Warrants And Other Warrant Costs
FairValueAdjustmentOfWarrantsAndOtherWarrantCosts
|
-14500000 | usd | |
achr |
Fair Value Adjustment Of Warrants And Other Warrant Costs
FairValueAdjustmentOfWarrantsAndOtherWarrantCosts
|
0 | usd | |
us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
2100000 | usd | |
us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
600000 | usd | |
us-gaap |
Other Research And Development Expense
OtherResearchAndDevelopmentExpense
|
2400000 | usd | |
us-gaap |
Other Research And Development Expense
OtherResearchAndDevelopmentExpense
|
0 | usd | |
achr |
Other Warrant Expense
OtherWarrantExpense
|
0 | usd | |
achr |
Other Warrant Expense
OtherWarrantExpense
|
78200000 | usd | |
us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
0 | usd | |
us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
900000 | usd | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
2500000 | usd | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
-200000 | usd | |
us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
1100000 | usd | |
us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
100000 | usd | |
us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
-1500000 | usd | |
us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
200000 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-1600000 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
19200000 | usd | |
us-gaap |
Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
|
11500000 | usd | |
us-gaap |
Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
|
300000 | usd | |
us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-1500000 | usd | |
us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-600000 | usd | |
us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
500000 | usd | |
us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
0 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-82400000 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-28800000 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
2100000 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
1900000 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-2100000 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-1900000 | usd | |
us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
5000000.0 | usd | |
us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
0 | usd | |
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
300000 | usd | |
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
0 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-4700000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
0 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-89200000 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-30700000 | usd | |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
746900000 | usd |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
36600000 | usd |
CY2022Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
657700000 | usd |
CY2021Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
5900000 | usd |
us-gaap |
Interest Paid Net
InterestPaidNet
|
800000 | usd | |
us-gaap |
Interest Paid Net
InterestPaidNet
|
0 | usd | |
us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
1600000 | usd | |
us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
400000 | usd | |
us-gaap |
Nature Of Operations
NatureOfOperations
|
Organization and Nature of Business<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Organization and Nature of Business</span></div><div style="text-indent:18pt"><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Archer Aviation Inc. (the “Company,” “we,” “us” or “our”), a Delaware corporation, with its headquarters located in San Jose, California, is an aerospace company. The Company’s mission is to advance the benefits of sustainable air mobility. The Company’s goal is to move people throughout the world’s cities in a quick, safe, sustainable, and cost-effective manner. To accomplish this goal, the Company is designing and developing an electric vertical takeoff and landing (“eVTOL”) aircraft for use in future urban air mobility (“UAM”) networks.</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">The Company’s Planned Lines of Business </span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Upon receipt of all necessary Federal Aviation Administration (“FAA”) certifications and any other government approvals necessary for the Company to manufacture and operate its aircraft, the Company intends to operate two complementary lines of business. The Company’s core focus is direct-to-consumer (“Archer UAM”) with its secondary focus being business-to-business (“Archer Direct”). </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Archer UAM</span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The Company plans to operate its own UAM ecosystem initially in select major U.S. cities, such as Los Angeles and Miami. The Company’s UAM ecosystem will operate using its eVTOL aircraft, which is currently in development. </span></div><div style="text-indent:18pt"><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Archer Direct</span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company also plans to selectively sell a certain amount of its eVTOL aircraft to third parties. </span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Business Combination</span></div><div style="text-indent:18pt"><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On September 16, 2021 (the “Closing Date”), Archer Aviation Inc., a Delaware corporation (prior to the closing of the Business Combination (as defined below), “Legacy Archer”), Atlas Crest Investment Corp., a Delaware corporation (“Atlas”), and Artemis Acquisition Sub Inc., a Delaware corporation and a direct, wholly-owned subsidiary of Atlas (“Merger Sub”), consummated the closing of the transactions contemplated by the Business Combination Agreement, dated February 10, 2021, as amended and restated on July 29, 2021, by and among Atlas, Legacy Archer and Merger Sub (the “Business Combination Agreement”), following approval at a special meeting of the stockholders of Atlas held on September 14, 2021. Unless otherwise specified or unless the context otherwise requires, references in these notes to Legacy Archer refer to Archer prior to the Business Combination and references in these notes to “New Archer” refer to Archer following the Business Combination. </span></div><div style="margin-top:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to the terms of the Business Combination Agreement, a business combination of Legacy Archer and Atlas was effected by the merger of Merger Sub with and into Legacy Archer, with Legacy Archer surviving the merger (the “Surviving Entity”) as a wholly-owned subsidiary of Atlas (the “Merger,” and, collectively with the other transactions described in the Business Combination Agreement, the “Business Combination”). Following the consummation of the Merger on the Closing Date, the Surviving Entity changed its name from Archer Aviation Inc. to Archer Aviation Operating Corp., and Atlas changed its name from Atlas Crest Investment Corp. to Archer Aviation Inc. and it became the successor registrant with the U.S. Securities and Exchange Commission (the “SEC”). Prior to the closing of the Business Combination, the Class A common stock and public warrants of Atlas were listed on the New York Stock Exchange (“NYSE”) under the symbols “ACIC” and “ACIC WS,” respectively. New Archer Class A common stock and public warrants are currently listed on the NYSE under the symbols “ACHR” and “ACHR WS,” respectively.</span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The financial statements included in this Quarterly Report on Form 10-Q reflect (i) the historical operating results of Legacy Archer prior to the Business Combination; (ii) the combined results of Atlas and Legacy Archer following the closing of the Business Combination; (iii) the assets and liabilities of Legacy Archer at their historical cost; and (iv) the Company’s equity structure for all periods presented.</span></div>The Ongoing COVID-19 PandemicIn March 2020, the World Health Organization declared the outbreak of COVID-19 a global pandemic. The rapid spread of COVID-19 caused volatility and disruption in financial markets and prompted governments and businesses to take unprecedented measures such as travel restrictions, quarantines, shelter-in-place orders, and business shutdowns. The impact of the ongoing COVID-19 pandemic continues to evolve due to, among other reasons, the emergence of additional variants or strains of COVID-19. As such, the full magnitude of the ongoing COVID-19 pandemic’s effect on the Company’s financial condition, liquidity, and future results of operations is uncertain. Management continues to actively monitor the Company’s financial condition, liquidity, operations, suppliers, industry, and workforce, but currently does not anticipate any material impairments as a result of the ongoing COVID-19 pandemic and will continue to evaluate the impact of the ongoing COVID-19 pandemic. | ||
achr |
Number Of Lines Of Business
NumberOfLinesOfBusiness
|
2 | lineofbusiness | |
CY2022Q2 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-504500000 | usd |
achr |
Proceeds From Private Placement And Recapitalization Transaction
ProceedsFromPrivatePlacementAndRecapitalizationTransaction
|
801800000 | usd | |
CY2022Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
654800000 | usd |
CY2022Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
654800000 | usd |
CY2021Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
746600000 | usd |
CY2022Q2 | us-gaap |
Restricted Cash
RestrictedCash
|
2900000 | usd |
CY2021Q4 | us-gaap |
Restricted Cash
RestrictedCash
|
300000 | usd |
CY2022Q2 | us-gaap |
Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
|
657700000 | usd |
CY2021Q4 | us-gaap |
Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
|
746900000 | usd |
CY2022Q2 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
400000 | usd |
achr |
Warrant Liability Term
WarrantLiabilityTerm
|
P4Y2M15D | ||
CY2021 | achr |
Warrant Liability Term
WarrantLiabilityTerm
|
P4Y8M15D | |
CY2022Q2 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
-8300000 | usd |
us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
-14900000 | usd | |
us-gaap |
Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
|
P15Y | ||
CY2021Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
500000 | usd |
CY2022Q2 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
79584322 | shares |
CY2021Q2 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
87744261 | shares |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
79584322 | shares | |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
87744261 | shares | |
CY2022Q2 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
11000000.0 | usd |
CY2021Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
7300000 | usd |
CY2022Q2 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
2700000 | usd |
CY2021Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
1400000 | usd |
CY2022Q2 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
8300000 | usd |
CY2021Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
5900000 | usd |
CY2022Q2 | us-gaap |
Depreciation
Depreciation
|
700000 | usd |
CY2021Q2 | us-gaap |
Depreciation
Depreciation
|
300000 | usd |
us-gaap |
Depreciation
Depreciation
|
1300000 | usd | |
us-gaap |
Depreciation
Depreciation
|
400000 | usd | |
CY2022Q2 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
20100000 | usd |
CY2021Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
6900000 | usd |
CY2022Q2 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
5300000 | usd |
CY2021Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
2600000 | usd |
CY2022Q2 | achr |
Accrued Parts And Materials
AccruedPartsAndMaterials
|
100000 | usd |
CY2021Q4 | achr |
Accrued Parts And Materials
AccruedPartsAndMaterials
|
900000 | usd |
CY2022Q2 | us-gaap |
Taxes Payable Current
TaxesPayableCurrent
|
300000 | usd |
CY2021Q4 | us-gaap |
Taxes Payable Current
TaxesPayableCurrent
|
600000 | usd |
CY2022Q2 | achr |
Accrued Capital Expenditures
AccruedCapitalExpenditures
|
1400000 | usd |
CY2021Q4 | achr |
Accrued Capital Expenditures
AccruedCapitalExpenditures
|
400000 | usd |
CY2022Q2 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
1500000 | usd |
CY2021Q2 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
400000 | usd |
CY2022Q2 | us-gaap |
Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
|
0 | usd |
CY2021Q4 | us-gaap |
Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
|
300000 | usd |
CY2022Q2 | us-gaap |
Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
|
800000 | usd |
CY2021Q4 | us-gaap |
Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
|
600000 | usd |
CY2022Q2 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
28000000.0 | usd |
CY2021Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
12300000 | usd |
CY2022Q2 | us-gaap |
Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
|
900000 | usd |
CY2021Q4 | us-gaap |
Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
|
1200000 | usd |
CY2022Q2 | us-gaap |
Long Term Debt
LongTermDebt
|
14100000 | usd |
CY2021Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
18800000 | usd |
CY2022Q2 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
9400000 | usd |
CY2021Q4 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
9500000 | usd |
CY2022Q2 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
4700000 | usd |
CY2021Q4 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
9300000 | usd |
CY2022Q2 | us-gaap |
Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
|
5000000.0 | usd |
CY2022Q2 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
|
10000000.0 | usd |
CY2022Q2 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
15000000.0 | usd |
CY2022Q1 | us-gaap |
Area Of Real Estate Property
AreaOfRealEstateProperty
|
96000 | sqft |
CY2022Q1 | achr |
Lessee Operating Lease Number Of Option To Extend
LesseeOperatingLeaseNumberOfOptionToExtend
|
0 | optiontoextend |
CY2022Q1 | us-gaap |
Area Of Real Estate Property
AreaOfRealEstateProperty
|
68000 | sqft |
CY2022Q1 | achr |
Lessee Operating Lease Commencement Term
LesseeOperatingLeaseCommencementTerm
|
P210D | |
CY2022Q1 | achr |
Lessee Operating Lease Expiration Term
LesseeOperatingLeaseExpirationTerm
|
P90M | |
CY2022Q1 | achr |
Lessee Operating Lease Number Of Option To Extend
LesseeOperatingLeaseNumberOfOptionToExtend
|
1 | optiontoextend |
CY2022Q1 | achr |
Lessee Operating Lease Option To Extend Term
LesseeOperatingLeaseOptionToExtendTerm
|
P5Y | |
CY2022Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
15000000 | usd |
CY2022Q2 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
900000 | usd |
CY2021Q2 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
400000 | usd |
us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
2600000 | usd | |
us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
700000 | usd | |
CY2022Q2 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P42M | |
CY2021Q2 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P23M | |
CY2022Q2 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.1146 | |
CY2021Q2 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.1129 | |
CY2022Q2 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
2600000 | usd |
CY2022Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
4400000 | usd |
CY2022Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
2800000 | usd |
CY2022Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
2900000 | usd |
CY2022Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
2500000 | usd |
CY2022Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
15200000 | usd |
CY2022Q2 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
2700000 | usd |
CY2022Q2 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
12500000 | usd |
us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
1800000 | usd | |
us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
700000 | usd | |
CY2022Q2 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
600000 | usd |
CY2021Q2 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
200000 | usd |
us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
9600000 | usd | |
us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
1000000.0 | usd | |
achr |
Number Of Leased Properties Supported By Lines Of Credit
NumberOfLeasedPropertiesSupportedByLinesOfCredit
|
3 | property | |
CY2022Q2 | achr |
Loss Contingency Number Of Patents Requested For Dismissal
LossContingencyNumberOfPatentsRequestedForDismissal
|
2 | patent |
CY2022Q2 | achr |
Loss Contingency Number Of Original Alleged Trade Secret Violations
LossContingencyNumberOfOriginalAllegedTradeSecretViolations
|
52 | claim |
CY2022Q2 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
us-gaap |
Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
|
1 | shares | |
us-gaap |
Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
|
1 | shares | |
achr |
Common Stock Conversion Terms Period Following That A Founder Ceases Services To The Company
CommonStockConversionTermsPeriodFollowingThatAFounderCeasesServicesToTheCompany
|
P12M | ||
CY2022Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
20000000.0 | usd |
CY2022Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
1049123 | shares |
CY2022Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
0.12 | |
CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
9444221 | shares |
CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
0.12 | |
CY2021 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P8Y7M28D | |
CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
55900000 | usd |
us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
2437974 | shares | |
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
0.13 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
9400000 | usd | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
|
269713 | shares | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
|
0.11 | ||
CY2022Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
6736534 | shares |
CY2022Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
0.12 | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P8Y1M20D | ||
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P8Y1M24D | ||
CY2022Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
3100000 | usd |
CY2022Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
|
6736534 | shares |
CY2022Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
|
0.12 | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
|
P8Y1M20D | ||
CY2022Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
|
20000000.0 | usd |
CY2022Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
25600000 | usd |
CY2021Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1000000.0 | usd |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
50100000 | usd | |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1900000 | usd | |
CY2021Q1 | achr |
Purchase Agreement Number Of Aircraft
PurchaseAgreementNumberOfAircraft
|
200 | aircraft |
CY2021Q1 | achr |
Purchase Agreement Option To Purchase Additional Aircraft
PurchaseAgreementOptionToPurchaseAdditionalAircraft
|
100 | aircraft |
CY2021Q1 | achr |
Other Warrant Expense
OtherWarrantExpense
|
78200000 | usd |
CY2022Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd | |
CY2021Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
100000 | usd | |
CY2021Q2 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0 | |
CY2022Q2 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0 | |
us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0 | ||
us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0 | ||
us-gaap |
Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
|
0.50 | ||
CY2022Q2 | us-gaap |
Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
|
500000 | usd |
us-gaap |
Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
|
1000000 | usd | |
CY2021Q2 | us-gaap |
Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
|
100000 | usd |
us-gaap |
Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
|
300000 | usd |