2023 Q3 Form 10-Q Financial Statement

#000162828023038275 Filed on November 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q3
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin -$21.70M
YoY Change -153.45%
% of Gross Profit
Research & Development $67.80M
YoY Change 44.26%
% of Gross Profit
Depreciation & Amortization $1.800M
YoY Change 80.0%
% of Gross Profit
Operating Expenses $46.20M
YoY Change -50.75%
Operating Profit -$46.20M
YoY Change -50.75%
Interest Expense $5.100M
YoY Change 240.0%
% of Operating Profit
Other Income/Expense, Net -$10.40M
YoY Change -900.0%
Pretax Income -$51.50M
YoY Change -43.41%
Income Tax $100.0K
% Of Pretax Income
Net Earnings -$51.60M
YoY Change -43.3%
Net Earnings / Revenue
Basic Earnings Per Share -$0.19
Diluted Earnings Per Share -$0.19
COMMON SHARES
Basic Shares Outstanding 277.7M shares
Diluted Shares Outstanding 277.7M shares

Balance Sheet

Concept 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $461.4M
YoY Change -23.18%
Cash & Equivalents $461.4M
Short-Term Investments $0.00
Other Short-Term Assets $3.100M
YoY Change 210.0%
Inventory
Prepaid Expenses $3.900M
Receivables
Other Receivables
Total Short-Term Assets $475.7M
YoY Change -22.69%
LONG-TERM ASSETS
Property, Plant & Equipment $49.90M
YoY Change 404.04%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.100M
YoY Change 355.56%
Total Long-Term Assets $63.90M
YoY Change 186.55%
TOTAL ASSETS
Total Short-Term Assets $475.7M
Total Long-Term Assets $63.90M
Total Assets $539.6M
YoY Change -15.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.60M
YoY Change 200.0%
Accrued Expenses $95.40M
YoY Change 226.71%
Deferred Revenue
YoY Change
Short-Term Debt $2.300M
YoY Change
Long-Term Debt Due $2.300M
YoY Change -75.53%
Total Short-Term Liabilities $117.0M
YoY Change 167.12%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change -100.0%
Other Long-Term Liabilities $11.80M
YoY Change 5.36%
Total Long-Term Liabilities $11.80M
YoY Change -12.59%
TOTAL LIABILITIES
Total Short-Term Liabilities $117.0M
Total Long-Term Liabilities $11.80M
Total Liabilities $175.1M
YoY Change 117.79%
SHAREHOLDERS EQUITY
Retained Earnings -$1.040B
YoY Change 74.59%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $364.5M
YoY Change
Total Liabilities & Shareholders Equity $539.6M
YoY Change -15.37%

Cashflow Statement

Concept 2023 Q3
OPERATING ACTIVITIES
Net Income -$51.60M
YoY Change -43.3%
Depreciation, Depletion And Amortization $1.800M
YoY Change 80.0%
Cash From Operating Activities -$66.80M
YoY Change 31.5%
INVESTING ACTIVITIES
Capital Expenditures $15.80M
YoY Change -1153.33%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$15.80M
YoY Change -96.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 136.5M
YoY Change -5787.5%
NET CHANGE
Cash From Operating Activities -66.80M
Cash From Investing Activities -15.80M
Cash From Financing Activities 136.5M
Net Change In Cash 53.90M
YoY Change -109.94%
FREE CASH FLOW
Cash From Operating Activities -$66.80M
Capital Expenditures $15.80M
Free Cash Flow -$82.60M
YoY Change 67.55%

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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>The Company also plans to selectively sell a certain amount of its eVTOL aircraft to third parties.
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achr-20230930.htm Edgar Link pending
achr-20230930.xsd Edgar Link pending
exhibit101q323.htm Edgar Link pending
exhibit101q323001.jpg Edgar Link pending
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