ACHR 10-Q for Q1 2026 filed 2026-05-11 | Key takeaways
ACHR filed its 10-Q; the most relevant disclosure change is added subsequent events: On April 1, 2026, the company completed the acquisition of 75% ownership interest in the fixed-base operator business at Hawthorne Airport for $25.0 million, expected to serve as a key operational hub in planned Los Angeles air taxi operations.
Guidance comparison
Key takeaways
Q1 2026 marks ACHR's first quarter of revenue recognition ($1.6M), versus zero in Q1 2025
Net loss widened to $217.7M from $93.4M year-over-year as R&D spend increased to $171.7M (from $103.7M) and G&A rose to $83.2M (from $40.3M)
Adjusted EBITDA of $172.5M loss beat prior guidance midpoint of $170M loss by $2.5M (1.5%)
Cash and cash equivalents and short-term investments stood at $1,775.9 million as of March 31, 2026
Post-quarter, ACHR acquired 75% of the fixed-base operator business at Hawthorne Airport on April 1, 2026 for $25.0M, expected to serve as key operational hub for planned Los Angeles air taxi operations
Neon Aero Inc. became a related party in August 2025 due to CEO's ownership; Q1 2026 purchases from Neon Group totaled $2.3 million with $0.5 million payable
Net loss per share was $(0.28) versus $(0.17) year-over-year; cash used in operating activities was $149.1 million (up from $94.6 million)
Key metrics
Disclosure changes
- related_party
Neon Aero Inc. and its subsidiaries became related parties in August 2025 as a result of the CEO's ownership interest and position as director; $0.5 million payable to Neon Group; total purchases of goods and services from Neon Group for Q1 2026 was $2.3 million
Discloses new related party transaction that could present potential conflicts of interest; material purchases from CEO-affiliated entity - subsequent_events
On April 1, 2026, the company completed the acquisition of 75% ownership interest in the fixed-base operator business at Hawthorne Airport for $25.0 million, expected to serve as a key operational hub in planned Los Angeles air taxi operations
Significant operational expansion; Hawthorne Airport FBO acquisition closes strategic infrastructure deal for air taxi operations hub - customer_concentration
Company states it currently has no concentration exposure to products, services, or customers due to pre-commercialization stage
Company is pre-commercialization; no customer concentration risk currently
Primary source
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