2022 Q4 Form 10-K Financial Statement

#000162828023008091 Filed on March 15, 2023

View on sec.gov

Income Statement

Concept 2022 Q4 2022
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $44.10M $165.1M
YoY Change 31.67% -6.34%
% of Gross Profit
Research & Development $59.20M $171.5M
YoY Change 206.74% 166.72%
% of Gross Profit
Depreciation & Amortization $1.700M $3.100M
YoY Change 240.0% 138.46%
% of Gross Profit
Operating Expenses $108.1M $347.4M
YoY Change 102.81% -3.04%
Operating Profit -$347.4M
YoY Change -3.04%
Interest Expense $700.0K $2.300M
YoY Change -240.0% 130.0%
% of Operating Profit
Other Income/Expense, Net $12.00M $27.80M
YoY Change 14.29% 162.26%
Pretax Income -$95.40M -$317.3M
YoY Change 120.32% -8.77%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$95.40M -$317.3M
YoY Change 120.32% -8.77%
Net Earnings / Revenue
Basic Earnings Per Share -$1.32
Diluted Earnings Per Share -$0.38 -$1.32
COMMON SHARES
Basic Shares Outstanding 240.5M shares
Diluted Shares Outstanding 240.5M shares

Balance Sheet

Concept 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $531.2M $531.2M
YoY Change -28.88% -28.88%
Cash & Equivalents $69.40M $69.40M
Short-Term Investments $461.8M $461.8M
Other Short-Term Assets $1.600M $14.30M
YoY Change 433.33% 81.01%
Inventory
Prepaid Expenses $9.800M
Receivables
Other Receivables
Total Short-Term Assets $545.5M $545.5M
YoY Change -27.73% -27.73%
LONG-TERM ASSETS
Property, Plant & Equipment $11.50M $23.40M
YoY Change 94.92% 125.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.500M $4.500M
YoY Change 66.67% 66.67%
Total Long-Term Assets $28.30M $28.30M
YoY Change 108.09% 108.09%
TOTAL ASSETS
Total Short-Term Assets $545.5M $545.5M
Total Long-Term Assets $28.30M $28.30M
Total Assets $573.8M $573.8M
YoY Change -25.33% -25.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.600M $3.600M
YoY Change 5.88% 5.88%
Accrued Expenses $40.40M $40.40M
YoY Change 162.34% 162.34%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $9.300M $9.300M
YoY Change -2.11% -2.11%
Total Short-Term Liabilities $53.30M $53.30M
YoY Change 88.34% 88.34%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $11.00M $27.20M
YoY Change 2650.0% -14.73%
Total Long-Term Liabilities $11.00M $27.20M
YoY Change 13.4% -33.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $53.30M $53.30M
Total Long-Term Liabilities $11.00M $27.20M
Total Liabilities $80.50M $80.50M
YoY Change 15.83% 15.83%
SHAREHOLDERS EQUITY
Retained Earnings -$690.9M
YoY Change 84.93%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $493.3M $493.3M
YoY Change
Total Liabilities & Shareholders Equity $573.8M $573.8M
YoY Change -25.33% -25.33%

Cashflow Statement

Concept 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$95.40M -$317.3M
YoY Change 120.32% -8.77%
Depreciation, Depletion And Amortization $1.700M $3.100M
YoY Change 240.0% 138.46%
Cash From Operating Activities -$67.20M -$200.4M
YoY Change 37.42% 84.87%
INVESTING ACTIVITIES
Capital Expenditures $3.300M $6.900M
YoY Change -760.0% 97.14%
Acquisitions
YoY Change
Other Investing Activities $30.20M -$457.4M
YoY Change
Cash From Investing Activities $26.90M -$464.3M
YoY Change -5480.0% 13165.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $10.00M
YoY Change
Cash From Financing Activities -2.800M -$9.900M
YoY Change -2900.0% -101.2%
NET CHANGE
Cash From Operating Activities -67.20M -$200.4M
Cash From Investing Activities 26.90M -$464.3M
Cash From Financing Activities -2.800M -$9.900M
Net Change In Cash -43.10M -$674.6M
YoY Change -12.58% -194.97%
FREE CASH FLOW
Cash From Operating Activities -$67.20M -$200.4M
Capital Expenditures $3.300M $6.900M
Free Cash Flow -$70.50M -$207.3M
YoY Change 45.66% 85.25%

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0 usd
CY2021 achr Allocation Of Debt Proceeds To Stock Warrants
AllocationOfDebtProceedsToStockWarrants
1200000 usd
CY2022 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
0 usd
CY2021 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
61500000 usd
CY2022 achr Pipe Financing Issuance Costs Settled With The Issuance
PIPEFinancingIssuanceCostsSettledWithTheIssuance
0 usd
CY2021 achr Pipe Financing Issuance Costs Settled With The Issuance
PIPEFinancingIssuanceCostsSettledWithTheIssuance
7000000.0 usd
CY2022 achr Recapitalization Transaction Costs Settled With The Issuance Of Class A Common Stock
RecapitalizationTransactionCostsSettledWithTheIssuanceOfClassACommonStock
0 usd
CY2021 achr Recapitalization Transaction Costs Settled With The Issuance Of Class A Common Stock
RecapitalizationTransactionCostsSettledWithTheIssuanceOfClassACommonStock
8100000 usd
CY2022 us-gaap Nature Of Operations
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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 is designing and developing electric vertical takeoff and landing (“eVTOL”) aircraft for use in urban air mobility (“UAM”) networks. The Company’s mission is to unlock the skies, freeing everyone to reimagine how they move and spend time.</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 offerings (“Archer UAM”) with its secondary focus being business-to-business offerings (“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. 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><span><br/></span></div><div><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 (the “Special Meeting”). 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><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </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 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%">The financial statements included in this report 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>
CY2022 achr Number Of Lines Of Business
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WarrantyLiabilitySecondScenarioOutsideDateWeighted
0.05
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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1200000 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1500000 usd
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-690900000 usd
CY2022 achr Proceeds From Private Placement And Recapitalization Transaction
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CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2022Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
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CY2022 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</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%">The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent liabilities at the date of the consolidated financial statements and the reported amounts of expenses during the reporting period. </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%">On an ongoing basis, management evaluates its estimates, including those related to the: (i) realization of deferred tax assets and estimates of tax liabilities, (ii) fair value of debt, (iii) fair value of share-based payments, (iv) valuation of leased assets and liabilities, and (v) estimated useful lives of long-lived assets. These estimates are based on historical data and experience, as well as various other factors that management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Such estimates often require the selection of appropriate valuation methodologies and models and may involve significant judgment in evaluating ranges of assumptions and financial inputs. Actual results may differ from those estimates under different assumptions, financial inputs, or circumstances. Given the global economic climate and unpredictable nature and unknown duration of the ongoing COVID-19 pandemic, estimates are subject to additional volatility.</span></div>
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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69400000 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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746600000 usd
CY2022Q4 us-gaap Restricted Cash
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2900000 usd
CY2021Q4 us-gaap Restricted Cash
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300000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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72300000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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746900000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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9500000 usd
CY2022Q4 achr Lessee Operating Lease Liability To Be Paid Net
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12900000 usd
CY2022Q4 achr Cash Cash Equivalents And Available For Sale Debt Securities Amortized Cost
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467000000.0 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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0 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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800000 usd
CY2022Q4 achr Cash Cash Equivalents And Available For Sale Debt Securities
CashCashEquivalentsAndAvailableForSaleDebtSecurities
466200000 usd
CY2022 achr Warrant Liability Term
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P3Y8M15D
CY2021 achr Warrant Liability Term
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P4Y8M15D
CY2022 us-gaap Fair Value Adjustment Of Warrants
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-23300000 usd
CY2021 us-gaap Fair Value Adjustment Of Warrants
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CY2022 us-gaap Operating Lease Payments
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4300000 usd
CY2021 us-gaap Operating Lease Payments
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1900000 usd
CY2022 us-gaap Finite Lived Intangible Asset Useful Life
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P15Y
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
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400000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
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500000 usd
CY2022Q4 us-gaap Capitalized Contract Cost Net
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3700000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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11700000 usd
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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3600000 usd
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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81629009 shares
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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80087974 shares
CY2022 us-gaap Number Of Operating Segments
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CY2022 us-gaap Number Of Reportable Segments
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1 segment
CY2022Q2 achr Loss Contingency Number Of Patents Requested For Dismissal
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2 patent
CY2021Q3 achr Recapitalization Exchange Ratio
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1.00656519
CY2021Q3 achr Proceeds From Recapitalization Transaction
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257600000 usd
CY2021Q3 achr Proceeds From Reverse Recapitalization Net Of Redemptions
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242400000 usd
CY2021Q3 us-gaap Conversion Of Stock Shares Converted1
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201800000 usd
CY2021Q3 achr Warrant Liability
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39500000 usd
CY2021Q3 achr Reverse Recapitalization Net
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162300000 usd
CY2021Q3 achr Reverse Recapitalization Contingent Consideration Equity Earnout Period
ReverseRecapitalizationContingentConsiderationEquityEarnoutPeriod
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CY2021Q3 achr Reverse Recapitalization Contingent Consideration Equity Earnout Period Stock Price Trigger
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12.00
CY2021Q3 achr Reverse Recapitalization Contingent Consideration Equity Threshold Trading Days
ReverseRecapitalizationContingentConsiderationEquityThresholdTradingDays
10 trading_day
CY2021Q3 achr Reverse Recapitalization Contingent Consideration Equity Threshold Consecutive Trading Days
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20 trading_day
CY2021Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
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60260483 shares
CY2021Q3 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
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60000000 shares
CY2021Q3 us-gaap Sale Of Stock Price Per Share
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10
CY2021Q3 us-gaap Sale Of Stock Consideration Received On Transaction
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600000000 usd
CY2021Q3 achr Stock Issued During Period Shares Business Combination And Pipe Financing Fees
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CY2021Q3 us-gaap Stock Issued During Period Shares Stock Options Exercised
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4738344 shares
CY2021Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
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2540925 shares
CY2021Q3 us-gaap Common Stock Shares Outstanding
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59851643 shares
CY2021Q3 achr Stock Converted Reverse Recapitalization
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64884120 shares
CY2021Q3 achr Stock Issued During Period Shares Reverse Recapitalization
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CY2021Q3 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
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10004612 shares
CY2021Q3 us-gaap Stock Issued During Period Shares New Issues
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CY2021Q3 us-gaap Common Stock Shares Outstanding
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232638568 shares
CY2021Q3 us-gaap Class Of Warrant Or Right Outstanding
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CY2021Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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CY2021Q3 achr Payments Of Reverse Recapitalization Transaction Costs
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81800000 usd
CY2021Q3 achr Reverse Recapitalization Transaction Costs
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10900000 usd
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
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55800000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
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15100000 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
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7300000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3600000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1400000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
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11500000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
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5900000 usd
CY2022 us-gaap Depreciation
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3100000 usd
CY2021 us-gaap Depreciation
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1300000 usd
CY2022Q1 achr Loss Contingency Number Of Original Alleged Trade Secret Violations
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CY2021Q3 us-gaap Preferred Stock Shares Authorized
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10000000 shares
CY2021Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2022Q4 us-gaap Preferred Stock Shares Outstanding
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CY2022Q4 us-gaap Accrued Professional Fees Current
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CY2021Q4 us-gaap Accrued Professional Fees Current
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6900000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
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7800000 usd
CY2021Q4 us-gaap Employee Related Liabilities Current
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2600000 usd
CY2022Q4 achr Accrued Parts And Materials
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5200000 usd
CY2021Q4 achr Accrued Parts And Materials
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900000 usd
CY2022Q4 us-gaap Taxes Payable Current
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300000 usd
CY2021Q4 us-gaap Taxes Payable Current
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600000 usd
CY2022Q4 achr Accrued Capital Expenditures
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2900000 usd
CY2021Q4 achr Accrued Capital Expenditures
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400000 usd
CY2022Q4 achr Accrued Cloud Computing Implementation Costs
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2000000.0 usd
CY2021Q4 achr Accrued Cloud Computing Implementation Costs
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CY2022Q4 us-gaap Accrued Marketing Costs Current
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200000 usd
CY2021Q4 us-gaap Accrued Marketing Costs Current
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300000 usd
CY2022Q4 us-gaap Other Sundry Liabilities Current
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1100000 usd
CY2021Q4 us-gaap Other Sundry Liabilities Current
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600000 usd
CY2022Q4 us-gaap Other Liabilities Current
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36700000 usd
CY2021Q4 us-gaap Other Liabilities Current
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12300000 usd
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CY2021Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
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1200000 usd
CY2022Q4 us-gaap Long Term Debt
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CY2021Q4 us-gaap Long Term Debt
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18800000 usd
CY2022Q4 us-gaap Long Term Debt Current
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9300000 usd
CY2021Q4 us-gaap Long Term Debt Current
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9500000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
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CY2021Q4 us-gaap Long Term Debt Noncurrent
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9300000 usd
CY2022Q4 achr Warrant Liability Fair Value Disclosure
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CY2022Q4 achr Warranty Liability First Scenario Outside Date Weighted
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CY2022Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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10000000.0 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
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10000000.0 usd
CY2022Q1 us-gaap Area Of Real Estate Property
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96000 sqft
CY2022Q1 achr Lessee Operating Lease Number Of Option To Extend
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CY2022Q1 us-gaap Area Of Real Estate Property
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CY2022Q1 achr Lessee Operating Lease Commencement Term
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P210D
CY2022Q1 achr Lessee Operating Lease Expiration Term
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P90M
CY2022Q1 achr Lessee Operating Lease Number Of Option To Extend
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1 optiontoextend
CY2022Q1 achr Lessee Operating Lease Option To Extend Term
LesseeOperatingLeaseOptionToExtendTerm
P5Y
CY2022Q1 achr Lessee Leasehold Improvement Allowance
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6000000 usd
CY2021 us-gaap Operating Lease Cost
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2100000 usd
CY2022 us-gaap Lease Cost
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6000000.0 usd
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P16M
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.1378
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.1106
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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4900000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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5300000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4900000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
6700000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
28400000 usd
CY2022Q4 achr Lessee Leasehold Improvement Allowance
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6000000.0 usd
CY2022Q4 us-gaap Operating Lease Liability
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22400000 usd
CY2021Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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0 usd
CY2022 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
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0 usd
CY2021 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
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0 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2022 us-gaap Allocated Share Based Compensation Expense
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102800000 usd
CY2021 us-gaap Allocated Share Based Compensation Expense
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123600000 usd
CY2021Q1 achr Purchase Agreement Number Of Aircraft
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200 aircraft
CY2021Q1 achr Purchase Agreement Option To Purchase Additional Aircraft
PurchaseAgreementOptionToPurchaseAdditionalAircraft
100 aircraft
CY2021Q1 achr Valuation Of Common Stock Per Share
ValuationOfCommonStockPerShare
13.35
CY2021Q1 achr Valuation Of Common Stock Pwerm Weighted Percentage
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0.80
CY2021Q1 achr Valuation Of Common Stock Opm Weighted Percentage
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0.20
CY2021Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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0.01
CY2021Q1 achr Class Of Warrant Or Right Grant Date Fair Value
ClassOfWarrantOrRightGrantDateFairValue
13.35
CY2021 achr Other Warrant Expense
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117300000 usd
CY2021 achr Class Of Warrant Or Right Vested During The Period
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8845058 shares
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-317300000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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CY2022 us-gaap Current Income Tax Expense Benefit
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CY2021 us-gaap Current Income Tax Expense Benefit
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CY2021 us-gaap Deferred Income Tax Expense Benefit
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CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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CY2022 achr Effective Income Tax Rate Reconciliation Warrant Expense Percent
EffectiveIncomeTaxRateReconciliationWarrantExpensePercent
-0.007
CY2021 achr Effective Income Tax Rate Reconciliation Warrant Expense Percent
EffectiveIncomeTaxRateReconciliationWarrantExpensePercent
-0.071
CY2022 achr Effective Income Tax Rate Reconciliation Section162m Limitation Percent
EffectiveIncomeTaxRateReconciliationSection162mLimitationPercent
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CY2021 achr Effective Income Tax Rate Reconciliation Section162m Limitation Percent
EffectiveIncomeTaxRateReconciliationSection162mLimitationPercent
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.008
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
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EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2022 us-gaap Effective Income Tax Rate Continuing Operations
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CY2021 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
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CY2022Q4 achr Deferred Tax Assets Operating Lease Liability
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CY2021Q4 achr Deferred Tax Assets Operating Lease Liability
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CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
3700000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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CY2022Q4 achr Deferred Tax Asset Warrants
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CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
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51700000 usd
CY2021Q4 us-gaap Deferred Tax Assets In Process Research And Development
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CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
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CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
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CY2022Q4 achr Deferred Tax Assets Start Up Costs
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4700000 usd
CY2021Q4 achr Deferred Tax Assets Start Up Costs
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CY2022Q4 us-gaap Deferred Tax Assets Other
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900000 usd
CY2021Q4 us-gaap Deferred Tax Assets Other
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CY2022Q4 us-gaap Deferred Tax Assets Gross
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CY2021Q4 us-gaap Deferred Tax Assets Gross
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48700000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
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129700000 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2021Q4 us-gaap Deferred Tax Assets Net
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CY2022Q4 achr Deferred Tax Liabilities Depreciation And Amortization
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CY2021Q4 achr Deferred Tax Liabilities Depreciation And Amortization
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CY2022Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
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CY2021Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
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CY2021Q4 us-gaap Deferred Income Tax Liabilities
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CY2022 us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
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CY2022 us-gaap Defined Contribution Plan Cost Recognized
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2100000 usd
CY2021 us-gaap Defined Contribution Plan Cost Recognized
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800000 usd

Files In Submission

Name View Source Status
achr-20221231_cal.xml Edgar Link unprocessable
achr-20221231_def.xml Edgar Link unprocessable
achr-20221231_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
0001628280-23-008091-index-headers.html Edgar Link pending
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0001628280-23-008091.txt Edgar Link pending
0001628280-23-008091-xbrl.zip Edgar Link pending
achr-20221231.htm Edgar Link pending
achr-20221231.xsd Edgar Link pending
ex2313152023.htm Edgar Link pending
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