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Sentiment · FY2026 Q2
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Edison Yu | Deutsche Bank | 10 (0%) |
| Savi Syth | Raymond James | 10 (10%) |
| Andres Sheppard | Cantor Fitzgerald | 10 (0%) |
| Austin Moeller | Canaccord Genuity | 10 (0%) |
| Amit Dayal | H.C. Wainwright | 10 (0%) |
| Chris Pierce | Needham | 6 (0%) |
| Dave Zazula | Barclays | 6 (33%) |
| Bill Peterson | JPMorgan | 5 (40%) |
| Jim Kirby | JPMorgan | 4 (0%) |
| Josh Sullivan | JonesTrading | 3 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Raymond James | 2 | 12 (8%) |
| Canaccord Genuity | 1 | 10 (0%) |
| Cantor Fitzgerald | 1 | 10 (0%) |
| Deutsche Bank |
| 1 |
| 10 (0%) |
| H.C. Wainwright | 1 | 10 (0%) |
| JPMorgan | 2 | 9 (22%) |
| Needham | 2 | 7 (0%) |
| Barclays | 1 | 6 (33%) |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $0 | — | $-0.46 | -27.8% | — | — | $-129M |
| FY2025 Q1 | $0 | — | $-0.17 | +52.8% | — | — | $-105M |
| FY2025 Q2 | $0 | — | $-0.36 | -12.5% | — | — | $-122M |
| FY2025 Q3 | $0 | — | $-0.20 | +31.0% | — | — | $-126M |
| FY2025 Q4 | $300,000 | — | $-0.26 | +43.5% | -78133.3% | -62966.7% | $-159M |
| FY2026 Q1 | $2M | — | $-0.28 | -64.7% | -15756.3% | -13606.3% | $-182M |
| FY2026 Q2 | $5M | — | $-0.34 | +5.6% | -5584.0% | -5264.0% | $-193M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
Archer Aviation, a pre-commercial eVTOL developer, remained pre-revenue and deeply loss-making in Q1 (GAAP EPS of -$0.28) while emphasizing execution across its civil, defense and software lines. The headline progress was regulatory and technical: management said Archer became the first eVTOL company to close Phase II of the FAA's four-phase type certification process, advanced Phase I in parallel, and ran its most expensive flight-test quarter yet with piloted flights on a nearly daily basis, targeting piloted transition and EIPP operations in the second half of the year. Commercial momentum built around 3 winning EIPP applications across 8 states, the LA '28 Olympics as official air-taxi provider, a multibillion-dollar Midnight order book with 7 major airlines, and a clean-sheet hybrid defense aircraft being built with Anduril. Revenue began to grow as Archer expanded Hawthorne Airport operations, and the company ended the quarter with roughly $1.8 billion in liquidity and less than $100 million in debt. Management guided a Q2 adjusted EBITDA loss of $170 million to $200 million, framing the step-up in investment as deliberate and short-lived.
Product Launch | Regulation Policy | Capex Investment | Innovation & R&D | Geographic Expansion | Revenue Growth | M&A | Capital Allocation | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 4 | 2 | 1 | 2 | 3 | 2 | 1 | |
| 2025Q1 | 5 | 4 | 3 | 2 | 2 | 1 | ||
| 2025Q2 | 2 | 3 | 1 | 1 | 2 | 2 | 1 | 1 |
| 2025Q3 | 4 | 2 | 1 | 1 | 1 | 3 | 4 | |
| 2025Q4 | 5 | 3 | 1 | 2 | ||||
| 2026Q1 | 6 | 5 | 4 | 2 | 4 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Product Launch | 4 | 5 | 2 | 5 | 6 | |
| Regulation Policy | 2 | 4 | 3 | 4 | 3 | 5 |
| Capex Investment | 1 | 3 | 1 | 2 | 1 | 4 |
| Innovation & R&D | 2 | 2 | 1 | 1 | 2 | 2 |
| Geographic Expansion | 2 | 2 | 1 | 4 | ||
| Revenue Growth | 3 | 1 | 2 | 1 | ||
| M&A | 2 | 1 | 3 | |||
| Capital Allocation | 1 | 1 | 4 |
What ACHR and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“We've also done a lot of work with beta and really talking through the charging infrastructure that is going to be necessary there.”
Archer describes collaborating with Beta Technologies on the charging infrastructure needed for eVTOL operations, a read-through on industry cooperation around advanced-air-mobility charging standards.
“we're developing clean sheet new aircraft, that's a hybrid vehicle, partnering with Anderol.”
Archer's defense strategy centers on co-developing a clean-sheet hybrid dual-use autonomous aircraft with Anduril (rendered 'Anderol' in the transcript), a read-through for Anduril's push into next-generation vertical-lift defense platforms.
“as well as NVIDIA and Starlink, both of which will bring next-generation capabilities to midnight.”
Archer names SpaceX's Starlink as a technology partner bringing next-generation connectivity capabilities to its Midnight aircraft.
“as well as NVIDIA and Starlink, both of which will bring next-generation capabilities to midnight.”
Archer names NVIDIA as a technology partner bringing next-generation capabilities to its Midnight aircraft — a design-win read-through for NVIDIA compute in eVTOL/aerospace autonomy.
“So we've really focused more on the application layer versus a Palantir of the world that's focusing more on the integration layer.”
Archer positions itself on the software application layer for airspace/ATC tools while framing Palantir as focused on the integration layer — a read-through on where Palantir is playing in aviation-infrastructure software.
“Palantir, for example, 1 of our partners is participating in the Smart program.”
Archer names Palantir as a partner participating in the FAA's SMART program (a finalist per management), a read-through for Palantir's expansion into air-traffic-control / national-airspace modernization software.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
ACHR Archer Aviation Inc. | 5 | n/a | |
| AXON Axon Enterprise Inc. | 10 | +33.8% | |
| BA The Boeing Company | 7 | +14.0% | |
| GD General Dynamics | 8 | +10.3% | |
| GE GE Aerospace | 7 | +24.7% | |
| HII Huntington Ingalls Industries | 6 | +13.3% | |
| LHX L3Harris | 8 | +11.9% | |
| LMT Lockheed Martin | 4 | +0.3% | |
| LUNR Intuitive Machines, Inc. | · | n/a | |
| NOC Northrop Grumman | 6 | +4.4% | |
| RKLB Rocket Lab USA, Inc. | 8 | +63.5% | |
| RTX RTX Corporation | 9 | +8.7% | |
| SPCX Space Exploration Technologies Corp. | · | n/a | |
| TDG TransDigm Group | 10 | +18.3% | |
| TXT Textron | 7 | +11.8% |