Dear Archer Aviation (ACHR) stock fans, the countdown to its next earnings report just got a lot more interesting. The eVTOL hopeful is set to report its next earnings after the close today, March 2, with traders already positioning around a name that has quietly gained about 7% over the last five trading days. That bounce comes despite Archer still generating $0 in annual sales.
The numbers on deck are not small either, as the most recent print in early November showed that Archer is still deep in investment mode even as Wall Street looks for the burn to trend in the right direction. Put simply, this next update has to thread a tricky needle by showing enough progress on earnings and forecasts.
So with the stock perking up into the release, expectations pointing to a narrower loss, and the entire urban air mobility trade looking for confirmation, the big question is whether Archer’s numbers today will justify the recent optimism or reset the story. Let’s dive in.
Archer’s Cash Path Under the Microscope
Archer Aviation is headquartered in California and develops electric vertical takeoff aircraft for urban air mobility, supported by roughly $4.64 billion in equity value.
Its stock closed at $7.12 on Feb. 27, with a year-to-date (YTD) return of -5.32% and a 52-week move of -10.10%.
This pricing implies a price‑to‑book multiple of 2.91x versus a sector median near 3.32x, suggesting investors assign a modest discount.
Their latest full look under the hood came with third-quarter 2025 results. The most recently reported quarter, for the period ending Sept. 25, 2025, showed earnings per share of -$0.20 against a consensus estimate of -$0.29. This result delivered an upside surprise of 31.03%, which indicates losses were shallower than analysts had penciled in.
That same release showed GAAP total operating expenses of $174.8 million, while non-GAAP operating expenses stood at $121.2 million. It reported a GAAP net loss of $129.9 million in September 2025, with net income growth of 36.94% year-over-year (YoY). ACHR also posted a non-GAAP adjusted EBITDA loss of $116.1 million for the quarter. Archer ended the period with $1,641.3 million in cash, cash equivalents, and short-term investments.
This liquidity picture needs to be read alongside cash-flow usage for a fuller view. The company recorded an operating cash flow of -$303.6 million in September 2025, with an operating cash flow growth of -53.33%. That same period showed a net cash flow of -$238.5 million and a change in net cash flow of -126.82%.
Strategic Moves Lining Up Behind Archer’s Earnings
Archer’s upcoming March 2 earnings land against a backdrop of unusually concrete execution moves. The company has now completed the first phase of its Hawthorne Airport transactions, securing the master lease from the City of Hawthorne along with associated subleases. This effectively hands Archer control of the real estate that makes up the airport.
Beyond infrastructure, the international demand pipeline is starting to look more tangible. Serbia has tapped Archer as its preferred eVTOL partner and locked in an option to purchase an initial fleet of Midnight aircraft. The agreement provides for up to 25 aircraft, subject to the applicable legal framework.
Connectivity is another piece of the commercialization puzzle Archer is trying to solve ahead of time. The company recently announced a deal with Starlink to bring stable, high‑speed satellite connectivity to its Midnight air taxis.
On the regulatory and deployment front, Archer has partnered with multiple U.S. cities to submit applications under the White House’s eVTOL Integration Pilot Program. These applications are designed to support initial air taxi trials and align with the broader national advanced air mobility strategy.
Technology and international expansion are also getting attention. Archer recently entered into an exclusive collaboration with Karem Aircraft, known for military‑grade rotor technology. The goal is to integrate Karem’s advanced rotor and tiltrotor systems into Archer’s next‑generation autonomous, hybrid‑propulsion VTOL aircraft.
At the same time, an agreement with Saudi Arabia’s General Authority of Civil Aviation aims to build a regulatory framework for air taxi deployment in the kingdom. That framework is expected to align with Federal Aviation Administration standards, which could smooth the path for both Saudi and eventual U.S. commercialization.
How High Is the Bar?
Archer is set to report its next earnings after the market close today for the quarter ended December 2025. For that current quarter, the average earnings estimate sits at -$0.25 per share, matching the -$0.25 forecast penciled in for the following quarter ending March 2026.
That outlook compares against a prior-year EPS of -$0.53 for the same December period, implying an estimated YoY growth rate of about +52.83%. The next quarter tells a different story, with the -$0.25 estimate set against last year’s -$0.17, pointing to a projected growth rate of -47.06% as losses are expected to widen versus that particular comp.
Sentiment around ACHR stock helps explain why these forecasts still lean constructive despite the red ink. Back in November 2025, Cathie Wood’s ARK Invest bought more than 3 million shares of ACHR.
Analyst views line up with that narrative, with the latest consensus from 10 analysts coming in at a “Moderate Buy” rating. The average price target sits at $11.61, which implies roughly 56% upside if the stock simply moves to the Street’s mean target.
Conclusion
When Archer reports today, the real test will be whether the numbers back up the growing list of deals, infrastructure moves, and bullish forecasts. The setup leans toward a solid quarter on expectations, with another manageable loss, a decent chance of a small EPS beat, and reaffirmed progress on cash runway and commercialization. That kind of outcome would likely keep the stock grinding higher toward analyst targets rather than exploding higher or collapsing, especially if guidance stays tight and the call sounds confident but disciplined.
