Archer Aviation reports Q1 loss but strong cash position

Archer Aviation, a developer of electric vertical take-off and landing (eVTOL aircraft), reported a net loss of $113.1 million for the first quarter of the year (Q1 2023) as operating expenses hit $112 million. However, the company said it “continues to maintain a strong liquidity position with cash, cash equivalents and short-term investments of $450 million as of March 31st”. During Q1 2023 Archer announced strategic funding of up to $150 million from investor group Stellantis. “I am thrilled with the milestones our team has achieved in the first quarter of 2023. We have continued to make significant progress towards our