Archer Aviation closes Q3 of 2022 with cash equivalents of $600 million

Archer Aviation closed the Q3 of 2022 with cash, cash equivalents, and short-term investments of $600 million. The company reported total operating expenses of $93.8 million and a net loss of $91 million. During the reporting period, Archer achieved an important milestone of completing its first wing-borne flight and launched the first eVTOL route in partnership with United Airlines. Commenting on third-quarter results, Adam Goldstein, Archer’s CEO, said: “With the announcement of our first urban air mobility route in New York with our partner, United Airlines, and the completion of our first full wing-borne flight by our Maker aircraft, we