Archer Aviation posts Q1 losses but eyes FAA certification and US air taxi launch in 2026 with $12 price target.

Archer Aviation reported a Q1 2026 net loss of $217.7 million with $1.6 million revenue from airport operations, driven by heavy R&D spending on FAA certification and a hybrid aircraft program. Despite a 25.77% stock decline over the past year, the company is advancing FAA Type Certification and aims to start US air taxi operations in 2026, backed by partnerships and government awards. Analysts set a $12.01 price target, seeing potential upside if certification and operations progress as planned, though risks include high cash burn and uncertain certification timelines.