What Happened
Electric Aircraft Maker Sees Revenue Beat Amid Quarterly Loss
Archer Aviation’s stock fell 3.5% in premarket trading despite the company reporting a revenue beat and making progress toward commercial flights. The electric aircraft maker’s third-quarter revenue reached $5.1 million, ahead of Wall Street’s forecast, supported by initial engine deliveries to Anduril. Archer secured a special airworthiness certificate from the FAA, allowing certain market survey flights of its Midnight aircraft. The company expects another adjusted EBITDA loss in the fourth quarter. This news was first reported by TradingView News.