Archer Aviation Inc
For the period ended Sep 30, 2024. Filed Nov 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 8, 2024
ACHR$4.71-2.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Condensed Statements of Cash Flows
(In millions; unaudited)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities | ||
| Net loss | $(338.7) | $(348.8) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation, amortization and other | 8.2 | 4.2 |
| Debt discount and issuance cost amortization | — | 0.5 |
| Stock-based compensation | 84.9 | 24.8 |
| Change in fair value of warrant liabilities and other warrant costs | (30.3) | 25.8 |
| Gain on issuance of common stock | (1.5) | (3.6) |
| Non-cash lease expense | 2.2 | 3.1 |
| Research and development warrant expense | 6.1 | 13.1 |
| General and administrative warrant expense | 0.2 | — |
| Other warrant expense | — | 2.1 |
| Technology and dispute resolution agreements expense | 5.6 | 75.3 |
| Accretion and amortization income of short-term investments | — | (2.3) |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses | (2.0) | 5.9 |
| Other current assets | (2.8) | 0.3 |
| Other long-term assets | (1.9) | (0.1) |
| Accounts payable | 1.6 | 10.3 |
| Accrued expenses and other current liabilities | 5.8 | (1.6) |
| Operating lease right-of-use assets and lease liabilities, net | (2.3) | 2.8 |
| Other long-term liabilities | 0.7 | 0.6 |
| Net cash used in operating activities | (264.2) | (187.6) |
| Cash flows from investing activities | ||
| Proceeds from maturities of short-term investments | — | 465.0 |
| Purchase of property and equipment | (57.8) | (35.3) |
| Net cash provided by (used in) investing activities | (57.8) | 429.7 |
| Cash flows from financing activities | ||
| Proceeds from issuance of debt | 57.5 | — |
| Repayment of long-term debt | — | (7.5) |
| Payment of debt issuance costs | (0.6) | — |
| Payments for taxes related to net share settlement of equity awards | — | (3.5) |
| Proceeds from PIPE financing | 165.1 | 145.0 |
| Payment of offering costs in connection with PIPE financing | (7.1) | (6.0) |
| Proceeds from shares issued under at-the-market program | 87.0 | — |
| Payment of offering costs in connection with at-the-market program | (0.3) | — |
| Proceeds from shares issued under employee stock purchase plan | 2.3 | 1.3 |
| Proceeds from issuance of common stock | 55.0 | 25.0 |
| Net cash provided by financing activities | 358.9 | 154.3 |
| Net increase in cash, cash equivalents, and restricted cash | 36.9 | 396.4 |
| Cash, cash equivalents, and restricted cash, beginning of period | 471.5 | 72.3 |
| Cash, cash equivalents, and restricted cash, end of period | $508.4 | $468.7 |
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Supplemental Cash Flow Information: | ||
| Cash paid for interest | $1.4 | $0.7 |
| Non-cash investing and financing activities: | ||
| Purchases of property and equipment included in accounts payable and accrued expenses | $15.4 | $9.9 |
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