Archer delivered only one test eVTOL to the U.S. Air Force in 2024 and generated no meaningful revenue that year, incurring a net loss of $537 million. As of August 2025, the company had produced two commercial Midnight aircraft and had six more in its production line. Despite an initial plan to manufacture ten aircraft in 2024 and ramp to 650 units by 2027, current output trends suggest these targets may be missed without significant operational improvements.

Archer has secured two of the four required FAA approvals—maintenance and repair, plus air carrier and operator certifications—but still needs type certification (covering final airworthiness and flight testing) and production certification. Its first scheduled commercial flights in Abu Dhabi slipped from late 2025 to 2026 as local authorities continue safety evaluations. Some analysts now project full U.S. type certification as late as 2028.

The company reported an indicative backlog of $6 billion across roughly 1,200 aircraft as of late 2025, supporting its goal of reaching multi-billion-dollar annual revenues. To achieve higher production rates, Archer relies on Stellantis as contract manufacturer, aiming to produce two aircraft per month by end-2025 and scaling to 650 units annually by 2030. Progress on this partnership has been slower than anticipated, raising questions about capacity to meet backlog commitments.

Analysts forecast Archer will generate $32 million in 2026 revenue from its first commercial deliveries, climbing to $305 million in 2027. Net losses are expected to widen to $718 million in 2026 before narrowing to $682 million in 2027. With $1.6 billion in cash and equivalents at the end of Q3 2025 and a market capitalization near $6.5 billion, the company may require additional equity issuances. Competition from more advanced eVTOL developers further constrains upside unless regulatory and production milestones are met on schedule.