Electric airplane manufacturer Archer Aviation nearly doubled its losses in the second quarter.

Electric aircraft manufacturer Archer Aviation announced on Tuesday that its second quarter loss has expanded. The company is still in the pre-revenue stage but is accelerating the production of its electric vertical takeoff and landing aircraft designed for urban transportation. With Archer expanding operations in California and Georgia, adjusted expenses increased by 28% year-on-year to $1.235 billion. The company reported a net loss of $206 million in the second quarter, with an adjusted EBITDA loss of $1.187 billion. This is significantly higher than the net loss of $1.069 billion and adjusted EBITDA loss of $93.8 million in the second quarter of 2024.