Archer Aviation is pre-revenue and likely won't report any meaningful revenue growth in 2026.
The company recently announced it will begin flying its Midnight craft in U.S. cities this summer.
Imagine you live in a city, and every day, you're stuck in traffic for an hour. Now, think how cool it would be if you could hop into a small electric aircraft that lifts straight up in the air and flies you wherever you need to go in about 10 minutes. That is part of what Archer Aviation (NYSE: ACHR) is trying to build.
Image source: Archer Aviation.
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Like a scene from The Jetsons, Archer wants to put electric vertical takeoff and landing (eVTOL) aircraft in skies above major cities to help people save time and avoid traffic. Indeed, that futuristic vision may not be all that far away. Archer CEO Adam Goldstein recently told Fox Business that Midnight aircraft could be flying in major U.S. cities as soon as this summer.
Of course, Archer still lacks FAA Type Certification to fly its aircraft commercially, and the timeline for when it will get this crucial certificate remains uncertain. At the same time, several White House initiatives, including the eVTOL Integration Pilot Program (eIPP), are aiming to accelerate the regulatory process.
Archer is still pre-revenue, and it could be a year or two before meaningful revenue comes in. The stock trades at about $6.50, down more than 55% from its roughly $14.60 52-week high, and it carries a $4.3 billion market cap.
At the same time, Archer has a robust cash position (about $1.6 billion) and claims to have a backlog worth more than $6 billion. If it can successfully traverse the FAA regulatory process and scale production, it could start turning that pipeline into real revenue growth.
To be sure, Archer isn't in a position to report any meaningful revenue growth in its fourth-quarter earnings report, which is expected on Feb. 26. As such, any good (or bad) news will likely determine how this stock swings in 2026. At this point, Archer Aviation stock is best reserved for aggressive investors who can tolerate volatility.
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Steven Porrello has positions in Archer Aviation. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.