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Archer Aviation cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$194M in Q2 2026 · −$660M over twelve months

Operating cash flow−$156M
Capital spending−$37.1M
Free cash flow−$194M

Analysis

In Q2 2026, Archer Aviation generated −$156M of operating cash flow and spent $37.1M on capital projects, leaving free cash flow of −$194M. That is $71.2M less than in Q2 2025 (−$122M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$540M; the largest uses were other investing ($736M), operating cash flow ($540M), acquisitions ($155M); besides operations, cash came from shares issued ($659M), other financing ($21.6M); the cash balance fell by $870M.

Operating cash flow was −$156M against net income of −$263M. The largest differences: stock-based pay +$85.6M, other liabilities +$11.1M, depreciation & amortization +$10.1M.

Free cash flow

Archer Aviation: free cash flow by quarterArcher Aviation: free cash flow by quarter−$117MQ3 2024−$129MQ4 2024−$105MQ1 2025−$122MQ2 2025−$126MQ3 2025−$159MQ4 2025−$182MQ1 2026−$194MQ2 2026
Operating cash flow less capital spending.
Archer Aviation: operating cash flow against capital spendingArcher Aviation: operating cash flow against capital spendingOperating cash flowCapital spending−$97.2M$19.6MQ3 2024−$104M$24.2MQ4 2024−$94.6M$10.0MQ1 2025−$103M$18.9MQ2 2025−$106M$20.3MQ3 2025−$129M$29.6MQ4 2025−$149M$32.6MQ1 2026−$156M$37.1MQ2 2026
Latest (Q2 2026): Operating cash flow −$156M, Capital spending $37.1M.

Capital allocation, year by year

Archer Aviation: where the cash came from (up) and went (down), by fiscal yearArcher Aviation: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsFY2021: Operating cash flow −$108MFY2021: Net borrowing $20.0MFY2021: Shares issued $500KFY2021: Capital spending −$3.5M$20.5MFY2021FY2022: Operating cash flow −$200MFY2022: Net borrowing −$10.0MFY2022: Shares issued $100KFY2022: Capital spending −$6.9M$100KFY2022FY2023: Operating cash flow −$272MFY2023: Net borrowing −$2.5MFY2023: Shares issued $95.0MFY2023: Capital spending −$44.3M$95.0MFY2023FY2024: Operating cash flow −$369MFY2024: Net borrowing $57.5MFY2024: Shares issued $55.0MFY2024: Capital spending −$82.0M$112MFY2024FY2025: Operating cash flow −$433MFY2025: Shares issued $1.8BFY2025: Capital spending −$78.8MFY2025: Acquisitions −$126M$1.8BFY2025
Over these 5 years operating cash flow totalled −$1.4B; the largest uses were operating cash flow ($1.4B) and capital spending ($216M). Cash-flow statements as filed.

Where the cash came from and went

Archer Aviation: sources (+) and uses (−) of cash, Q2 2026Archer Aviation: sources (+) and uses (−) of cash, Q2 2026Operating cash flow−$156MOther investing$115MCash drawn (+) / kept (−)$98.4MCapital spending−$37.1MAcquisitions−$25.0MOther financing$5.2MNet borrowing (+) / repaid (−)−$100K
Archer Aviation: sources (+) and uses (−) of cash, TTM to Q2 2026Archer Aviation: sources (+) and uses (−) of cash, TTM to Q2 2026Cash drawn (+) / kept (−)$870MOther investing−$736MShares issued$659MOperating cash flow−$540MAcquisitions−$155MCapital spending−$120MOther financing$21.6MNet borrowing (+) / repaid (−)−$200K

From profit to cash

Archer Aviation: net income to operating cash flow, Q2 2026Archer Aviation: net income to operating cash flow, Q2 2026Net income−$263MDepreciation & amortization$10.1MStock-based pay$85.6MPayables$6.1MPrepaid and other assets−$9.5MOther liabilities$11.1MOperating cash flow−$156M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$156M−$37.1M−$25.0M−$100K—$98.4M−$194M
Q1 2026−$149M−$32.6M−$3.7M−$100K$100K$70.4M−$182M
Q4 2025−$129M−$29.6M——$1.8B−$426M−$159M
Q3 2025−$106M−$20.3M——−$1.2B$1.1B−$126M
Q2 2025−$103M−$18.9M——$850M−$694M−$122M
Q1 2025−$94.6M−$10.0M——$302M−$196M−$105M
Q4 2024−$104M−$24.2M——$2.5M−$333M−$129M
Q3 2024−$97.2M−$19.6M—$31.7M$55.0M−$141M−$117M

Archer Aviation: income statement and cash flow

Archer Aviation, Q2 2026: revenue $5.0M. The chart follows the revenue to costs, profit and cash.

Archer Aviation: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.