Archer Aviation (ACHR) hasn’t yet taken us to Hill Valley 2015 — no flying cars zipping over traffic just yet — but it’s getting closer. The electric air taxi company is turning heads with big-name partnerships, strong financial backing, and a stock price that’s soared 230% over the past year. Despite having no commercial revenue, Archer is building a case for being one of the most advanced players in the eVTOL space. Whether that future turns out profitable or not remains the real flight test.
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Bulls Say: Major Backers and Stock Momentum
The company recently closed an additional $300 million in equity funding, bringing its cash pile to over $1 billion. Backers include major institutional players like BlackRock (BLK) and Stellantis (STLA), the latter already deeply involved in Archer’s aircraft manufacturing plans. That kind of liquidity, along with regulatory progress and a headline-grabbing partnership as the official air taxi provider for the 2028 Los Angeles Olympics, gives Archer’s bulls plenty to cheer for.
On the technical front, ACHR stock is trending above its 50-day and 200-day moving averages, with indicators pointing to continued bullish sentiment. The company also passed a key regulatory milestone with the FAA, which finalized propulsion loss standards without requiring changes to Archer’s Midnight aircraft design. That clears the runway for further certification steps and brings the prospect of commercial flight closer.
Bears Say: Cash Burn, No Profits, and Fierce Competition
However, the bear case is just as strong. Archer continues to operate with zero revenue. It burned through nearly $450 million last year and posted an adjusted EBITDA loss of $109 million in Q1 2025 alone. Flight testing for the Midnight aircraft has faced delays, and initial deliveries to Abu Dhabi Aviation have yet to take off. Even with strong cash reserves, the business remains entirely dependent on external financing until it generates meaningful revenues.
There’s also a broader market challenge. The eVTOL sector is crowded with companies like EHang (EH), Eve Holding (EVEX), and Vertical Aerospace (EVTL), all pushing to be first to scale. While Archer’s partnerships with companies like United Airlines (UAL), Anduril, and Palantir Technologies (PLTR) stand out, success hinges on executing across manufacturing, certification, and deployment, all without missing a beat.
Conclusion
With a market cap nearing $6 billion and no earnings in sight, Archer is priced for a future that has to unfold nearly perfectly. Indeed, Archer Aviation is a classic moonshot stock. The vision is compelling. The funding is there. But the flight path to profitability is steep, and the risks of turbulence remain high. For now, this is a bet on what could be, not on what is.
Is Archer Aviation Stock a Good Buy?
Wall Street analysts think so, giving it a Strong Buy rating. The average ACHR stock price target is $12.29, implying a 16.05% upside.
