- Archer Aviation Inc (NYSE:ACHR) reported a fourth-quarter net loss of $(43.3) million, a sequential decrease from $(176.7) million in 3Q21, driven primarily by a decrease in stock-based compensation of $83.9 million.
- Adjusted EBITDA loss expanded to $(32.4) million from $(28.3) million in Q3.
- Total operating expenses were $53.3 million for the quarter, a sequential reduction from $123 million in Q3.
- Archer Aviation ended the quarter with $746.9 million in cash and cash equivalents as of December 31, 2021.
- Archer stated it continues to be on track to achieve Maker’s first full transition cruise flight in the second half of 2022. Separately, continue to build a duplicate of Maker for additional testing purposes, which we expect to complete during the second half of 2022.
- 1Q22 Outlook: Archer Aviation expects GAAP operating expenses of $58 million to $64 million and non-GAAP total operating expenses of $33 million to $39 million.
- It expects stock-based compensation and warrant expense of ~$25 million.
- Price Action: ACHR shares are trading higher by 3.44% at $3.01 during the post-market session on Monday.
Megan Thee Stallion Does $1M Stock Giveaway On Cash App For Her Fans To Dabble In Investing
Megan Thee Stallion is following in the footsteps of fellow celebrity Miley Cyrus by partnering with financial payments company Square Inc.’s (NYSE: SQ) Cash App to give away $1 million worth of stock to her fans.
