Archer Aviation Inc. (NYSE: ACHR) stock plummeted 9.6% in after-hours trading on Thursday, following the company's release of disappointing fourth-quarter and full-year 2024 financial results.
The electric aviation company reported a net loss of $198.1 million for the fourth quarter, with an adjusted EBITDA loss of $94.8 million. Operating expenses for the quarter stood at $124.2 million, while adjusted operating expenses were $98.3 million.
Most notably, Archer Aviation's GAAP earnings per share (EPS) for the full year 2024 missed analysts' expectations, coming in at a loss of $1.42 per share, compared to the consensus estimate of a $1.24 loss per share, representing a 14.52% miss.
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