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Archer Aviation (ACHR) surged more than 8% on Friday morning, bringing its weekly gain to 45%, after posting stronger-than-expected first-quarter results and reaffirming plans to launch commercial electric air taxi flights in the UAE later this year.
The California-based company posted a Q1 2025 net loss of $93.4 million, narrowing from $116.5 million a year earlier. Loss per share came in at $0.17, topping analyst estimates ranging from $0.22 to $0.28.
Cash and equivalents rose to $1 billion, up $196 million from year-end 2024, supported by fresh capital raises. The added liquidity strengthens Archer's push to bring its Midnight eVTOL aircraft to market.
Archer has begun building its first conforming units and expects to produce up to 10 aircraft this year. It plans to reach a rate of two aircraft per month by year-end.
The company also highlighted ongoing work with partners including United Airlines (NASDAQ:UAL), Palantir Technologies (NASDAQ:PLTR), and Anduril Industries. These relationships span commercial, technology, and defense sectors.
Archer expects to deliver its first Midnight aircraft to Abu Dhabi Aviation this summer, with commercial service in the UAE set to begin by Q4. Expansion plans are underway in South Korea, Japan, and India.
This article first appeared on GuruFocus.