Archer Aviation Inc. cash flow statement

In fiscal 2025, Archer Aviation Inc.'s operations generated −$433m of cash; it spent $78.8m on capital projects, leaving free cash flow of −$512m.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Archer Aviation Inc.: cash flow statement, annual
Fiscal year	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash from operations	−272	−369	−433
Depreciation and amortisation	7	12	20
Stock-based pay	45	109	224
Capital spending	44	82	79
Free cash flow	−316	−451	−512
Free cash flow after stock pay	−361	−559	−735
Shares issued	95	55	1,802

US$ millions unless shown otherwise. Fiscal quarters.

Archer Aviation Inc.: cash flow statement, quarterly
Quarter	2025 Q1Mar 2025	2025 Q2Jun 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Cash from operations	−95	−103	−149	−156
Depreciation and amortisation	4	5	8	8
Stock-based pay	30	52	70	86
Capital spending	10	19	33	37
Free cash flow	−105	−122	−182	−194
Free cash flow after stock pay	−135	−174	−252	−279
Shares issued	302	850	0	0

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Archer Aviation Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Archer Aviation Inc.