Archer Aviation Inc. (ACHR) stock plummeted over 12% in the pre-market trading session on Friday, following the company's release of disappointing fourth-quarter and full-year 2024 financial results that missed analysts' expectations.
The electric aviation company reported a net loss of $198.1 million for the fourth quarter, significantly wider than the $109.1 million loss a year earlier. The adjusted EBITDA loss for the quarter stood at $94.8 million, while operating expenses were $124.2 million, and adjusted operating expenses were $98.3 million.
Most notably, Archer Aviation's GAAP earnings per share (EPS) for the full year 2024 missed the consensus estimate, coming in at a loss of $1.42 per share, compared to analysts' expectations of a $1.24 loss per share, representing a 14.52% miss.
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