Archer closed Phase 3 of the FAA's 4-phase Type Certification process for its Midnight aircraft — a first among eVTOL developers — and is now advancing Phase 4 compliance testing, with US operations targeted for 2026.
Archer Aviation reported in its Q1 2026 results that it has become the first eVTOL developer to close Phase 3 of the FAA's four-phase Type Certification process for its Midnight aircraft, moving simultaneously into Phase 4, where formal testing and analysis demonstrate compliance with airworthiness requirements. The company ended the quarter with roughly $1.78 billion in cash and short-term investments, a $189 million sequential decrease reflecting flight-test spending and capital equipment purchases. Archer is targeting US commercial operations in 2026 through the White House's eVTOL Integration Pilot Program, alongside a role as the LA28 Olympics' official air taxi provider. Flight testing has expanded at Hawthorne Airport near LAX, with the fleet now flying nearly daily. Not investment advice — for informational and technical-analysis purposes only.
