Archer Aviation

Founder‑CEO Adam Goldstein has driven regulatory and commercial partnerships (LA28, Stellantis, United, UAE), plus defense ties with Anduril. Execution tempo and fundraising show capability. However, leadership turnover in finance (CFO resignation in July 2025 and an acting CFO thereafter) and very high SBC temper our assessment.

The team has attracted credible industrial partners, but we await proof of disciplined capital deployment through first commercial cycles.