ACHR · 10-K filed 2 Mar 2026 · year to 31 Dec 2025

Archer Aviation

27 named things its latest annual report says its results depend on, each in the company's own words. 15 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Customers

United Airlines Inc.

earns from · up to $1.0 billion worth of aircraft, with an option for another $500.0 millionnamed as a risk

Payment obligations under the agreement with United Airlines Inc. (“United”) for the conditional purchase of up to $1.0 billion worth of aircraft, with an option for another $500.0 million worth of aircraft (as amended, the “United Purchase Agreement”), for example, are conditioned upon, among other things, us receiving certification of our aircraft by the FAA and further negotiation and reaching mutual agreement on certain material terms, such as aircraft specifications, warranties, usage and transfer of the aircraft, performance guarantees, delivery periods, most favored nation provisions, the type and extent of assistance to be provided by United in obtaining certification of the aircraft for its intended use, territorial restrictions, rights to jointly developed intellectual property, escalation adjustments and other matters.Risk factors (Item 1A)

United States Air Force (USAF)

earns fromnamed as a risk

The USAF Contracts may be terminated by the USAF upon advanced written notice and may also be subject to stop orders issued by the USAF.Risk factors (Item 1A)

Also named by KTOS

EDGE Group

earns from

In November 2025, we announced our first deal for third-party adoption of these technologies in the defense sector, with Anduril and EDGE Group choosing to use our electric powertrain to power their Omen autonomous air vehicle.Business (Item 1)

Suppliers

Single-source suppliers

depends onnamed as a risk

We depend on a limited number of suppliers and service providers, including single-source and custom manufacturers, for the parts, components and materials used in our aircraft.Risk factors (Item 1A)

Also named by AMAT, BAX, BSX, BWXT, CL, DOV, EL, ETN and 11 more

Partners and platforms

Stellantis

depends onnamed as a risk

We have not yet executed the final agreement and there is no assurance that we will execute the agreement in the near term or at all.Risk factors (Item 1A)

Also named by ALLY, AN, BWA, LEA, MOD, THO

Anduril Industries Inc.

depends onnamed as a risk

We have entered into, and may continue to pursue, strategic relationships, joint ventures, minority investments, acquisitions, and licensing arrangements, including our previously announced partnership with Anduril to jointly develop a next generation aircraft for military applications, our acquisitions of certain intellectual property, manufacturing and other assets and our proposed manufacturing relationship with Stellantis.Risk factors (Item 1A)

Also named by AVAV

Other companies

City of Hawthorne

depends on · runs through 2055named as a risk

The remaining term of that master ground lease runs through 2055.Risk factors (Item 1A)

Synovus Loan

exposed to its price · SOFR, plus 2.0%

The Synovus Loan accrues interest from and including the date the applicable advance is made but excluding the repayment date at a rate of the SOFR, plus 2.0% subject to a SOFR floor of 0.0%.Market risk (Item 7A)

LA28 Olympic Games

named as a risk

Although we plan to develop Hawthorne Airport into our flagship Los Angeles hub, including for the LA28 Olympic Games, there can be no assurance we will receive all required approvals on time, if at all.Risk factors (Item 1A)

Places

Los Angeles

concentrated innamed as a risk

our inability to operate our air taxi operations in the Los Angeles area and for use during the LA28 Olympic Games due to any potential delays in certification;Risk factors (Item 1A)

Also named by ARES, ROST

Hawthorne Municipal Airport

operates innamed as a risk

Failure to achieve the anticipated benefits from our planned operations at Hawthorne Airport could adversely affect our business, results of operations, or financial condition, decrease or delay any accretive effect of our acquisition of the Hawthorne Airport, divert the attention of certain personnel and management, adversely affect the price of our Class A common stock and cause our business to not perform as expected.Risk factors (Item 1A)

Georgia

operates in

During this new product introduction phase, we are utilizing a “golden manufacturing line” approach at one of our Silicon Valley facilities for final assembly of our early Midnight builds and then applying lessons learned to inform the design and ramp of our high-volume manufacturing in Georgia.Business (Item 1)

Also named by ABR, AXP, BRO, CNC, ELV, IMKTA, MKL, MLM and 7 more

United Arab Emirates

earns from

Outside the U.S., through our Launch Edition program, we are offering aircraft, technologies, and services to governments and customers to support the commercialization of Midnight in select international markets with the United Arab Emirates (“UAE”) leading the way.Business (Item 1)

Also named by OXY

Hazards

PFAS

named as a risk

If PFAS contamination were found at Hawthorne Airport, we could be subject to liability or be required to undertake environmental remediation that could prove costly and materially impact our operations at the airport.Risk factors (Item 1A)

Also named by APG, CAG, CAVA, CTVA, DD, ES, FDX, INTC and 12 more

Commodities and inputs

Lithium-ion battery cells

depends onnamed as a risk

Any incident involving battery cells, even if it does not involve our aircraft, or negative public perceptions about the suitability of lithium-ion cells for aerospace applications, could seriously harm our business.Risk factors (Item 1A)

Also named by ONDS, TSLA

Aluminum

depends on

Key raw materials used for our aircraft include aluminum and composites.Business (Item 1)

Also named by AAON, ALSN, AYI, BA, BALL, BF/B, BWA, CAG and 59 more

Regulators

Federal Aviation Administration (FAA)

subject to · approximately 15% of the compliance verification documentsnamed as a risk

In particular, there is a risk that we will not obtain one or more certifications from the FAA that are required for ultimate commercial use of our aircraft, or that we will experience delays in receiving one or more of these certifications.Risk factors (Item 1A)

Also named by AIR, ALK, AMT, AVAV, BA, BRK/B, CCI, CW and 27 more

U.S. Department of Transportation (DOT)

subject tonamed as a risk

The FAA and the DOT have primary regulatory authority over air transportation operations in the United States.Risk factors (Item 1A)

Also named by AESI, ALK, BLDR, CHRW, CTAS, DAL, EXPE, FDX and 19 more

California Department of Transportation (Caltrans)

subject tonamed as a risk

If Caltrans were to find the airport noncompliant with those requirements, it could direct the City of Hawthorne to remedy such noncompliance.Risk factors (Item 1A)

Also named by GVA

General Civil Aviation Authority (GCAA) of the UAE

subject to

The GCAA has transitioned our Midnight aircraft into a Restricted Type Certification program, advancing the regulatory path for the aircraft's entry into service in the region.Business (Item 1)

Laws and programs

U.S. tariffs

exposed to its pricenamed as a risk

Certain aircraft components are difficult or impossible to source domestically.Risk factors (Item 1A)

Also named by A, AAPL, ADI, AEHR, AEP, AIOT, AKAM, AM and 170 more

International Traffic in Arms Regulations (ITAR)

subject tonamed as a risk

Our business is also subject to stringent U.S. import and export control laws and sanctions, which may include the Export Administration Regulations (“EAR”), the International Traffic in Arms Regulations, and economic sanctions administered by the Treasury Department’s Office of Foreign Assets Control.Risk factors (Item 1A)

Also named by ADI, AIR, ALSN, APH, AVAV, CDRE, CLS, COHR and 29 more

eVTOL Integration Pilot Program (eIPP)

subject tonamed as a risk

If we are not selected, the program is cancelled, or our test operations under the program are not successful, our prospects may be adversely affected.Risk factors (Item 1A)

FAA Special Federal Aviation Regulation (SFAR) for eVTOL

subject tonamed as a risk

The promulgation of additional federal, state, and local laws and regulations that address eVTOL aircraft more specifically, such as the operational regulations, or Special Federal Aviation Regulation (“SFAR”), adopted by the FAA in October 2024, could delay commercial launch or require us to modify our approach to certification.Risk factors (Item 1A)

14 CFR Part 21.17(b)

subject to

Our initial aircraft type certification is required to meet the criteria set forth by the FAA through a “special class” definition under 14 CFR Part 21.17(b).Business (Item 1)

FAA Part 135 Air Carrier and Operator Certificate

subject to

To operate our UAM service, among other requirements, we are required to hold a Part 135 Air Carrier and Operator Certificate and.Business (Item 1)

AFWERX Agility Prime

earns from

We have also been continuing to advance our partnership with the Department of Defense (“DoD”), which started in 2021, on a series of projects through the United States Air Force’s (“USAF”) AFWERX program with the goal of helping the AFWERX Agility Prime program assess the transformational potential of the vertical flight market and related technologies for DoD purposes.Business (Item 1)