Archer Aviation Q2 2026 Earnings Call Live | NO ADVERTS!

It's Archer Aviation time. I can't say we didn't tell you. I can't say we didn't tell you. Never write Archer Aviation off. The news we got today is absolutely outstanding.

We're going to have a special guest from Archer Aviation themselves. Guys, it's just a great day overall. We're above the $6. I think we hit $7 at one stage, but how are we feeling?

You know, it has been an amazing time. Big shout out to all the Archer enthusiasts and investors. Again, whether you're new or old, welcome to the channel. We love having you here. And for me, I am out of town on vacation, but I could not wait to get this all set up and get this earnings call going. And I think Liam said there was a lot of excitement for me going into this call and I think we'll touch on some stuff we're interested to hear about. But man, getting the news today. Lovely day for the Archer investor enthusiasts and holders. So, how you doing, Go?

Doing good, man. Just glad to be here. Glad that Archer's got amazing news. Glad that we still haven't forgotten about the last news with the Halo and the Thunder variant of the military side of the partnership with Andre. It's just, I mean, it just seems like Archer is competing or repetitively stacking amazing news every, you know, week, maybe two weeks, and I'm loving every second of it.

Do you know what? It actually caught me off guard. I was just out on my day today. For the first time in a long time I haven't actually checked the market early morning and then yeah everything started popping off. We got that news of the intent to acquire Wisk, Insitu, and SkyGrid and we will jump into that now. I'm just going to shoot an email to Archer Aviation here but how do you feel initially? What are your thoughts around this acquisition? Dylan, do you want to go first?

Yeah. You know, I think it's an amazing full circle moment when I saw it today. Because initially when we were getting into Archer Aviation, you know, there was a lot of talk about the lawsuits between Boeing and Wisk with Archer and you know then you even had Adam going on Molly's show and really saying that was his like welcome to the NFL moment like you know he's like you know getting attacked by the big dogs, the big lawyers and to have a few years later have this come wrap back around to where now Archer is going over to Boeing and saying because again through the lawsuit we kind of knew that there was going to be around 2030 that there was going to be certain IPs and information from Wisk that was going to be coming over. So, I think that this again states to Archer's confidence in pushing forward and not waiting for that to just be delivered and saying let's hit the go button and start moving forward. And the last thing I'll tail off real quick is when Z had came out, well actually even prior to that when we were looking at the ATC being modernized, you know, I wanted Archer to be the one. And I wanted Palantir to be the winner. But we would talk and we would say, you know, does Archer have enough flight hours and does it make sense that Palantir would win that with Archer's flight hours? But what I was always curious of is they were still holding on to the past lawsuit that had happened with Boeing and Wisk. So I was curious if that was flight data that Archer would be able to basically retain or pick up. And now we know through this acquisition, again, not by waiting time. Adam stepped in and yeah, now they got a revenue, a profit. Basically, they got something bringing in revenue even before commercial ops.

So, okay, $200 million a year in revenue coming from one of the three companies that they acquired from Boeing today. That is just, you know, it's a great start and it's a great look for Archer Aviation to be honest with you, just to have this now partnership with what was seen as a former rival in Boeing. You've now got them owning a big significant stake in Archer and they're going to be helping Archer and because they want to make their money now, you know, so they're going to be helping Archer collaborating with them and Boeing times Archer is going to be very effective and Archer is not going to sleep around anymore. They are here and they are here to stay.

Evan were quite bullish on Wisk. Archer will now own Wisk. We're thinking about the Gen 6 aircraft. I'm not saying that they will completely push through Gen 6 to fruition, but Gen 6 is looking for their transition by the end of the year. It's fully autonomous for passengers on board. Look, we could see them just completely scrap the Gen 6 vehicle and more or less strip back that autonomous technology. However, another vehicle, another vehicle, it's not a bad thing. We now have Gen 6. We have the Lilium patents previously acquired. We also have with Insitu, I think there's something like 3,500 unmanned aerial systems actually being delivered to 35 countries. Look, I just threw a thought out there to the guys. What if these 35 nations that they've already supplied want 10 Fury? If they wanted 10 Fury, that's 350 Fury ready to go. What if they want 10 Halo each? That's another 350 ready to go. And you know, these nations are going to want more than 10, especially if it's for the offensive capabilities with Thunder. That's just going to keep needing to be replenished. Insitu already 200 million in revenue. It is profitable. I know Electric Whisper says that could mean anything. And it could mean 5 million profitability doesn't matter. It's profitable. Archer will grow on this. It is another stepping stone to becoming an end to end company. They said this enables the AI side of the company to become end to end. It complements Z. We're wondering why Z got announced prior to the earnings. This is why.

There you go. This is why because now we can understand as we said before the jigsaw pieces are coming together. We don't understand why something happens. We didn't understand why Hawthorne was acquired. But everything just seems to be coming together now. SkyGrid, remember all the excitement about SkyGrid? But Archer will now own SkyGrid. Now I want to make clear guys this does not mean today Archer now owns Wisk. They own SkyGrid. They own Insitu. That's still looking to be done. We're hoping by the end of the year, Archer Aviation is saying, but I don't know. I just feel like Archer are building an absolute powerhouse, a juggernaut is waiting. People are saying, look, it was a complete equity offering. Look, Boeing would not want to be a stakeholder in Archer Aviation if they thought Archer Aviation was going to fail.

Archer now have one of the biggest, if not the biggest airline manufacturer on their side as a partner. We can see down here they've taken a stake, but they also become a strategic partner in Archer. The only one as big as Boeing, I would say, is Airbus. Boeing dominate. Imagine the contacts Boeing have. What would they be? 30, 40% of aircraft flown. What if Boeing now say right if you want their taxi service run into a Boeing service, you now have to use a Boeing strategic partner in the Midnight. So, I don't know. I think it's a lot bigger than people are initially thinking. And let's also think back to those early LOIs because I know that the $6 billion order book has been touted and you know in 2023, 2024 those were a good leg to stand on but we've seen how these companies have matured but also you know we've looked and we've been honest to have them deliver on the LOIs and you know digging deeper into those especially with the airlines there were certain safety restrictions that you know may have had to been tied up prior to deployment of the aircraft over to the United and the Southwest. But for me, what I know with Southwest, a lot of their aircraft are Boeing, the 737s and such. So to me, like you're saying, Liam, I mean, we've had it's like we've gone we've ran this course for a few years of looking at automotive backers for really the not just the funding, but the knowledge, the assembly line knowledge and how to ramp the assembly lines and such like that. And like you said, now you already have Boeing, who is an aerospace manufacturer. So big check on that. And then when we already have these partnerships with United and Southwest, just like you're saying, if there's any of those things that Archer needs to figure out with a certain little safety regulation or to match to the FAA, you know, this is going to bleed into, you know, when you're taking a Southwest flight, you in essence could be possibly getting on a Boeing eVTOL that would be then taking you to a Boeing aircraft to go ahead and depart on your ride. So, I think it's a great accumulation, but ecosystem, I think, is a word that I'm going to keep starting to use within Archer Aviation that they're growing. And I think what they're doing is just what Adam said last quarter. They're being a multifaceted business. Again, I for myself, I originally invested for the commercial deployment of Midnight, and I'm still invested for the commercial deployment of Midnight, and I'm very excited to see how that continues to mature and materialize. Yet, it is amazing to see that it's almost like Adam is not ready to just kind of sit and rest and wait for commercialization on Midnight to come. And again, hopefully we hear more about the clean sheet builds of Halo and Thunder that have came. But again, it's like it just seems with Archer and with Adam, there's a brick wall that he is not willing to go and try to bust through. It's like he's going to drive 100 miles per hour and he's going to try to get through those FAA brick walls and it's going to be really exciting to hear him talk on this call and get those prepared remarks.

Before I jump into Graham's question here, Go, you're one man I really want to speak to about this because you've openly said that you are incredibly backing the defensive side of Archer Aviation. How would you feel the likes of Insitu benefits that whole defensive capability on Archer Aviation?

Well, there's one thing that I don't think anybody's thought of yet, and that's the Thunder aircraft, which is made by Archer and Andre can actually hold military drones and it can deploy them autonomously. You know, whatever you want to do it, it can deploy its own drones. So there is a world, there is a case, a scenario, whatever you want to call it, where Archer Aviation's Thunder aircraft is holding these drones that they've just acquired. And now Archer Aviation has now has their hand in every single aspect of the Thunder besides the bullets and the guns. The drones are Archer, the aircraft is Archer, and then Andre just puts guns on it. That is 100% in the realm of possibility. Now, and you've also got to realize too, this means that they can go fly over enemy territory and do these super dangerous missions that no pilot would ever do. They would never send a pilot on these missions. You're going to get shot down. And I'm trying not to say anything. I can't say anything.

Yeah. Yeah. You're on the tightrope here. Let's say that you're going to get eliminated if you send a pilot there. Let's send this autonomous aircraft with these autonomous drones to surveil the area completely autonomously, not risking any life. We'll get the information we need. If the plane gets shot down, it gets shot down. Who cares? Let's move on to the next one. We didn't lose a single soldier. And that is the... And excuse me, Dylan mentioned earlier he joined for the air taxi. I joined for the defense aspect of the company. So that is amazing to me. I love the Boeing thing, but I'm still on team Archer and Andre.

I apologize to go there. I literally put him up on a tightrope against YouTube guidelines and he had to navigate his way through. But thank you for that. Um guys, Insitu, anyone that doesn't know, is a pioneer in designing, developing, manufacturing UAS. So that's uncrewed aircraft systems used in intelligence, surveillance, and reconnaissance. That screams to me a benefit of Halo, but we all are forgetting about Omen as well. This will benefit Omen. But not only that, its product portfolio spans high performance, cost-effective, resilient, vital capable UAS and AI enabled software solutions. This will benefit Z and all. Insitu technologies have helped the armed forces of 35 nations make quicker, more informed decisions to bring I'm not going to say that word home safely with offices in US, Australia, UK and UAE. They've manufactured and fielded 3,500 UAS and provides operation and support networks in every hemisphere on the globe. I bet Andre are licking their lips at this. This screams a benefit to Andre. It seems like we're gone very down that defensive side. We're not. Wisk itself.

Yeah. Have accumulated 1,700 flight tests over 16 years. That is very similar to Archer Aviation now. This has unmatched autonomous capabilities. This has been built for pure autonomy. No cab or no cockpit in this. This is a full autonomous aircraft. It's looking to be rolled out in 2030 and that is when they were hoping that they'd get certification for their autonomous aircraft. Could this be flipped straight into Midnight? We're hoping that the capabilities can be stripped back and put directly onto Midnight, but who's saying they won't just go with the Gen 6 aircraft and keep developing it? And that'll be your autonomous vehicle, too. Look, it hasn't transitioned yet for anyone that jumps on and saying it hasn't transitioned. They're looking to transition by the end of the year. Boeing still owned them. They're still full steam ahead, guys.

True. So we hope by the time they acquire them Gen 6 will have fully transitioned as well. Another great benefit SkyGrid has built a leading ground-based aircraft agnostic air traffic management solution. This going to fit straight into Z as well guys. It establishes the digital foundation for future automated airspace. SkyGrid enables safe integration, scalable automation and coordinated air traffic management that is necessary for commercialization across the aviation ecosystem. Archer will be fully autonomous and it'll be fully autonomous quicker than we think. Joe Ben on it was the previous earnings call for Joby Aviation said 5 years away we can see fully autonomous S4. Archer look like they're going down the exact same route there. So maybe just maybe the first time you step foot on one of these aircraft it will be fully autonomous. Look if piloted is what as we say full rollout I believe is after the EIP which should be 2030. If we do get fully autonomous certified by 2030, by the time you actually step foot on a Midnight, it may be a fully autonomous aircraft. There may be no pilot involved at all.

This is a lot bigger than what first meets the eye. Again, I can't stress enough the fact that Boeing has gone for a full equity. Boeing wouldn't do that if they think Archer is going to fail. Why wouldn't they just want cash? Because you can say that they can acquire Wisk if Archer went under, but then they're going to have to pay money for what they originally owned in the first place. They know Archer is going places. I believe Archer is going places and I want to jump straight into the question that who was it? Graham said, 'Were any of you guys expecting this?' Short answer, no.

Yeah. Short answer, double down. No. I was waiting for 2030 alone would have massive, let him acquire Wisk. And it definitely speeds up this timeline for autonomous flight because like Liam was saying earlier, Archer and Joby will now likely be flying autonomously at around the same time, which is just crazy to think about because Archer is nine years younger as a company than Joby is. So is there, you know, it's just crazy that Archer has made so much progress in the last year and I'm just thrilled to the moon about it.

9 years younger and now has gained another 16 years of experience from another company. It is insane, massive. Goldstein himself said it's a watershed moment in physical AI in aviation and defense. The next big step forward is becoming a diversified platform, rapidly growing the revenue base and bringing scale to their business is another revenue generating opportunity as well. There's just so much. I think this alone could be a live stream, let alone having the earnings as well and what we're going to hear in the earnings and we will get into what Dylan said to me before the stream. What are we expecting on this earnings? I said that's completely thrown out the window. Now what I was expecting on her news because I was not expecting this. So be excited.

Yeah. You know it's exciting news when your wife rolls over and is the one that is like oh my god did you hear that Archer? And it's like that is correct. It came true. You know and I think like you say trying to tell my wife and I literally could not speak it. Yeah, my jaw was just on the floor. I couldn't pick it up. It was so heavy. And I was just trying to tell her. She's like, 'Slow down. Tell me what's going on.' And she thought something really bad happened. And I was just like, 'Oh, no. This is amazing.' I had actually planned on adding to my Archer shares before because I knew there would be either a big announcement here at 7, well 7 my time in the morning or at the earnings call on the shareholder letter and I slept in by five minutes and it killed me. And it was that quick today, you know.

It was literally that quick. And then all of a sudden, I'm getting notifications. Archer Aviation stock's up 20%. I'm like, good grief, what the heck? I mean, it was almost $7. No. And good job to the holders. And yeah, Liam, you go for it if you got something because I want to keep you in the... guys. There's 60 of you in there at the moment. This is going to be the biggest retail live stream of Archer Aviation's earnings. We are having someone from Archer Aviation joining us here. I cannot tell you is it going to be prior or post earnings but be excited. Be excited. The first time we have had Archer Aviation talk to the retail space here on the Hustle Brothers. So yeah, you asked for it. We've delivered. Smash that like button. Smash that subscribe button. This will go to subscriber only once Archer Aviation join the earnings. I can't have people messing me about on such a special day. So, make sure if you want to be able to engage with us, make sure you're smashing that subscribe button completely free.

Oh my, I just have no words to say. Archer Aviation currently, we're in the way here. You can see they were at 6.20. We did push all the way up to $7 round opening bell. We're starting to climb back up towards closing bell 6.23. We've had guys saying we're going all the way to three, etc. People have said we're flogging a dead horse here. Look, we said believe back to company. It's all puzzle pieces, guys. It seems to be coming. It seems to be coming slowly. This is not the end. This is extremely good news. I still believe there's a lot more news to come. Maybe not on this earnings, but coming in, we said back half the year with all the eVTOL companies back half the year is always the strongest part of the year. And look, this is Q2. We still have Q3, Q4. So if they come out in the earnings call and give us an update on N704AX and a transition timeline, do you think this stock is going to fly?

You know, and I think this is one where again I talking with Liam earlier where I think Archer Aviation has, you know, to the market, it's caused a little bit of market confusion. You know, it's trying to figure out, you know, is Archer Aviation an airline company? Is Archer Aviation going to be a hardware player? Are they going to be a software player with Z and the AI advancements there? You know, and then looking at the timelines of the FAA certain approvals. So I mean I just think for everybody that's kind of weathered any confusing market days for what you know as we see other sectors run or sell off you know I think that 24% pump I think that gets a little bit of the markets and the algos to kind of click in to this vision of what Archer Aviation has really laid these stepping stones and again you know we can I think Hawthorne is one of the big ones we can go back to but again every piece that they've been putting in place to make themselves a successful company and again to reward the investors and coming back. So again having the opportunity now to have an additional revenue stream brought in. I'm very curious to see if we'll have any customers announced or customers in the pipeline for Z. Because again that was spoke to bring some revenue in through Q3. So, I think maybe what we're also seeing is Adam layering in through either half-yearly or yearly opportunities to have that additional revenue stream come on to the books. So, it's not just like, okay, we're going to start off this quarter. We're going to put revenue and it's basically going to be sequential revenue quarter over quarter, you know, maybe up or down a few million. I think this is when we really start to take notice because I think a few months back for me and a few weeks it was about okay let's look and see what scale and ramp of manufacturing and start to really capture those numbers but now I think again as we have these foundational building blocks of what can be these revenue generating opportunities for Archer you know again it brings those thoughts of is the company going to need to dilute when they're at 10 and 12 I can't tell you they will I can't tell you they won't but again with these stepping stones and foundational models to bring revenue through in the company. I think it speaks to something like, you know, another one like Beta Technologies where they've been able to go out and secure firm orders and that way they've been able to reward their investors by not having to tap the equity market at that time. So again with Archer you know I think if you're seeing the plan kind of come into place you know we stay open-minded and you know Adam is the CEO the founder you know so people that like founder-led companies this is one you know again and Adam coming not from the aviation specific background but coming from the business world and like I was saying when Z had came out it's like Adam was back in his own field of software this man can probably sell software to you know ice the polar bear and all that kind of stuff. So, you know, and he's been figuring out how do you sell the hardware? But again, what he's done, he's opened up defense business units. He's developed relationships with Palmer Luckey, who is a huge up-and-coming player in what US procurement from Department of War could possibly be. And then again, you see not just Thunder and Halo being displayed at Farnborough, you have Andre, who's literally the ones making the promotional video to go ahead and really explain how they intend to use that Thunder unmanned aircraft. So, I think it's really cool because again, you know, we could have said last year that Archer was a little heavy on the PR, but again, I'll double down and say for me that's okay because Adam's spreading the word about this possibility. So, we're going to look for the commercial air taxi services to continue to push forward through the EIP. It'll be interesting to see, you know, what are the first, you know, commercial and revenue opportunities as Archer enters the latter half of the year. And then as we enter 2027, you know, again, looking at Halo and basically wrapping the background to Palmer where, you know, anybody can read to what they choose from it, but to me, Palmer Luckey is somebody who has a company and has spoken about IPOing on the stock exchange. So for me, my best bet from Palmer would be to work with companies who are going to have really tactical items that they're going to be able to showcase and also have the government procure which is going to bring revenue to Andre's balance sheet which is going to support their IPO and then also when we get the quarterly earning updates after that. So, I'll leave it off on this one where it was really cool to see Adam and Palmer standing next to each other holding that model of Thunder up. And like I said, I'm ready to almost redesign the studio and put some shelves up, take down the music backdrop and get a shelf up and get me a N704AX model, get me a Thunder model put up and really start rocking forward through these next years.

Guys, you remember in the Joby Aviation earnings call, if any of you weren't here, we ran a giveaway, Dylan kindly gave away official Joby Aviation merch to three lucky subscribers. We also gave away five channel memberships. Nice. I'm toying with the idea of doing something very, very similar. So, make sure you're smashing that like button, smashing that subscribe to be entered in with a chance to win. You have to be here for the whole stream. There's no point us giving it to someone that has just left. We want to give it to dedicated people. You're at the Hustle Brothers. Zero ads. We're the only eVTOL channel streaming this live with zero ads, zero interruptions. People think we pump the stock. Well, surely on a day like today, we should be putting ads on our videos because we are generating no revenue here for this earnings. We do it out of the passion. We do it to show you guys that look this information is free. It should never be hidden behind a pay wall. And I want to keep the way of the Hustle Brothers here. This is an interesting question. Cedric wants to know from Archer the direct operating cost of Midnight such as how often do propellers need to be replaced in general cost the upkeep for Midnight. Do you know what Cedric and this is not me being smart but it doesn't really matter for Archer Aviation the actual general upkeep but the Midnight actually selling it. So if they need a prop replaced, a service of the Midnight it's not like Joby where they have to fork out that cost themselves. That's actually more revenue for Archer Aviation because they're actually selling the aircraft. It's like if you buy a Tesla and I don't know, your computer goes on your Tesla, you need to go back to Tesla and you pay them to fix it for you.

I like that. So, is like a coil spring. Ro says, 'Just waiting on Catalyst. If it doesn't happen on this call, it'll definitely be Q4 the earnings call. I care and won't happen for another nine or 10 years.' Do you know Go, I'm going to give you a get out of jail free card here. Yeah, I'm putting Go on the spot. You said you're out if they don't transition. Does this acquisition change that for you?

Request. No. They promised a transition from N704AX by the end of the year. I'm still going to hold on to what I said. If they don't do that, then I'll probably be out unless there's a legitimate reason or you know that's really if there's a legitimate reason, I'll give them some slack. But, you know, it's not to pressure Archer. It's really just because I want to give myself a standard of holding the stock. But I will say as I was leaving work to come get on this call with y'all I got a notification that N704AX was on FlightAware and I didn't look at it until literally just now while Dylan was talking and if you just want to take a look I hope it's not blurry but N704AX it's probably very blurry. If you want to go on FlightAware you can look at it. It hit 500 feet in the air today. Val. Yeah, here's the...

Well, I think off of that too, one thing that came out of the call last time is Adam said that he was testing multiple aircrafts a day. And as that was coming, we were not seeing that specifically on FlightAware. So, you had N703AX that actually went and took a 51 mile flight today and that took them 24 minutes. And then you also had basically two liftoffs from N704AX as they continue to progress through that VTOL envelope. So, you know, I think, you know, it would be great to hear from Tom, to continue to get some of those updates because I am really curious if what they have designated as their clean sheet build for Midnight and basically on the last few calls, they've said that they've had the clean sheet Midnight build, and this is going to be the one that they go for the defense project. So unless they were just not really wanting to reveal the name Thunder and kind of get us going in a whole another kind of rabbit hole of things that we weren't quite sure about yet, you know, and labeling the other clean sheet build as a Midnight as well. Still curious to see if there is a clean sheet Midnight that maybe is looking to be maybe a little less weaponized and could do some of that surveillance reconnaissance missions. Even a little bit of border control as Adam did that appearance on that show Marshals earlier in the year. So I mean it's almost like under the wings of Archer now you have N703AX, a C12 aircraft, you have N704AX, you have the Generation 6 model from Wisk who again if Archer felt that there was something that was not right with their aircraft. They literally now have Wisk's basically IP and their aircraft under their belt. So if there's anything that they needed to tail off of that they now have the Lilium acquisition and the patents. I mean, those were acquired. And again, even when we got to Thunder and Halo, it's like when you're kind of looking at Archer Aviation so much, it's again those kind of key details. And I had said on Omen, I was a little hesitant at the beginning to kind of call out what that powertrain system was looking like for me because we were kind of tailing off a little bit of these Tesla rumors that swirled. And for me and Liam, I know it's like we want to go with fact and not fiction and really, you know, look at the breadcrumbs, but not connect dots that aren't there. So, it'll be interesting to see if now Thunder basically is the defense product that Archer Aviation is pushing forward with. Or there's also some clean builds that Tom's going to speak on some more. And as we know, Tom is still with Archer Aviation. So, you know, I appreciate him showing his face and coming out and quieting the crowd. Because again I think you know as much as we do applaud Adam and the team at Archer you know really Tom has been doing amazing things because again the situation at Archer is you got a CEO who's there to build the team you know it's almost like a general manager and you have Tom who's really there like he's the offensive defensive coordinator you know he's the one to set the plays you know he's the tenure guy with all the experience and coming in and you know to all the other engineers that are working on the team. Just a lot of appreciation and a lot of props to everybody at Fly Archer for everything that they've been doing minimally through this last quarter and factually for two, three, and four years because as fun as it is to cover Archer, I can only imagine what it's like to be in those buildings. And I'll leave it on this that I saw something the other day where it's like it's amazing to be tired from a job that you once wished you could have. Meaning, it's just amazing that you have these people in the aerospace industry who probably had these dreams of certain aircrafts or propulsion systems or mechanisms on the aircraft that they thought could come to fruition and be true one day and were maybe even shot down by other companies and were said, 'No, this will never work or this and that.' And then you have this collaboration of Adam Goldstein coming out of Vettery first linking with Brett Adcock to have Maker and get that going. And then again, you know, we look where Brett seems to still be very supportive of Archer Aviation and the mission that they're doing. So even as you had Brett split off and go over to Figure to do the humanoid robots and such you know again it'll be very interesting as I've said to see if that relationship again will kind of come 360 and once we get into this mass manufacturer as Figure has been helping BMW already on assembly lines you know and like you said Liam now we got Boeing you know that's an assembly line partner possibly Brett Adcock in the pocket so a lot of excitement with Archer.

Do you want me to show you how live this is, guys? I had to jump off there. I'm that stressed out about this whole thing. I had a nose bleed in the middle of it. I was like, 'No, you did not.' That's true. The true passion from the host of the Hustle Brothers right there, man. That's too classic. That's going to be a trivia question in like two years, everybody to stay Hustle Brothers online. Cedric says, 'Well, if their aircraft are not economically viable for airlines to operate, maintain them, then they might not sell much, right? If the propellers need to be replaced every 100 flights,' look, I think they'll follow along the standard required for all eVTOL providers. I don't think they're going to certify an aircraft that needs their blades replaced after every 100 flights. That would be what every 10 days or so on these aircraft.

And I'm sorry Liam but to keep in mind too and not as a real counterpoint and I think that Cedric it's great points to bring up because I think this is what keeps us thinking about the possibilities of these companies having success and the longevity and the revenue that they can bring in and you know with Archer going off the shelf you're basically bringing in parts that are already proven or in a sense FAA certified it's like Now we just have to like put the Lego piece of different certified products or proven out aspects of the aircraft and put them all into one machine, have them all talk to each other and be doing the right things at the right times together. So you know and yeah, I think that that is just for me especially in the early stages, I think the way that Adam's going about sale of aircraft could be a very lucrative one in these early days.

Then we had an overboard one there. Two seconds. If they don't get the transition, does that mean Halo Thunder is dead in the water? No, they're completely different aircraft, my guy. That is going to be hybrid as well. But no, it's completely different design, everything, rotors different, everything's different about it. So no, and plus it's autonomous. It's not piloted. It's pretty much everything but the powertrain is different from my understanding. Like the entire aircraft is completely different. Instead of the actual propellers tilting to go vertical and then forward, you've got the entire wing or the entire end of the wing. I don't know the technical terminology, but the entire tip of the wing tilts and it's a completely different aircraft. So, if there is a situation where N704AX does not perform a transition flight in 2026, I wouldn't be worried about Thunder and Halo.

Well, and also just something that I was kind of glancing over when I was talking about Omen and the powertrain. Once I had saw Thunder and Halo, to me it just screamed the OSTR rotors that they had picked up and acquired from Overair. And again, you know, the cream the DARPA connections. I mean, it just goes so deep into there. And, you know, I think, you know, for me, I'd like to hear a little bit of information on where N705AX is, and maybe what they're deeming the basically prototype of N704AX and how confident they're feeling on that to go ahead and do what Joby had done maybe around this time last year where they did the pencils down and power on testing. So, it'd be really exciting to see as they push forward. But I think again, not that I'm saying we need to go through any sort of prop blade change as they've already made that change and feel confident that the four-blade props are going to be able to do the work in transition. You know, a big plus to the OSTR rotors and just to the Halo and Thunder comment is you're having multiple speeds in which you're able to vertically lift and then go to forward flight. So again, as we talk about all of this battery storage that's needed, how much recharge time, how much time are these aircraft going to be able to hover, and how much battery will it burn, these OSTR tilt rotors really take away some of that main air quotes main focus on the battery tech and can possibly get these aircraft up in the air a little bit quicker or more efficiently. So, you know, it's one of those things. I'm not looking or expecting any change to Midnight, but I do think it's very nice that they got the OSTR rotors in their pocket if needed, though.

Dane, this is a very interesting question. Sorry, I can't pronounce your name. I actually raised this question on X earlier and it's not I think some people thought I didn't understand that it's an equity offering. Is it a dilution event waiting to happen? Potentially, yes. Because I believe the operating costs will increase tremendously from acquiring these three businesses. I think it'll be something pretty similar to Joby Aviation's dilution event. But at the end of the day, we have Boeing behind us. Everyone keeps touting about which is the best automotive manufacturer going into aerospace, but at the same time, let's call a spade a spade. We're in aerospace. Who is the best manufacturer to have behind you is another aerospace provider that has already done it. Absolutely. Yes, there's an awful lot that you can take from the likes of your Stellantis and your Toyotas, but at the same time, this is different. We're entering a completely new sector. And who's better equipped? That's up to you to decide with this. I still think Toyota is a mega mega partner with Joby. And that's nothing against Joby. But having Stellantis, people were bashing Stellantis. We now have Boeing beside us. So, I don't know. I think Archer really building something here. And dilution event, no dilution event. I'll be backing them to the hills. And I think if they were at this point and you know N704AX had never been deemed airworthy and you know these pieces of the puzzle in the last year would not...

I think again these words dilution would be a little bit more scary to me. But I think again there are going to be capital raises if they happen. But again it's the what's and the why's are they raising the capital for and if it's able to really speed up what the end goal for these companies are and to get to the showcase and to get to Innovate 28. You know I think at the end of the day and I mean we can look at it through the stock sales of Adam himself. To me, he hasn't found the company valued at what he foresees the company to be valued at. You know, he's not one that's quickly selling the shares that he's recouping. And so, yeah, I think it's one of those where, you know, if we're long-term holders, it's easy to want to buy on green days instead of red days sometimes because it feels like all the momentum is going in the right way and it's like, okay, my thesis is working. We're going the way back up. Let me throw a little bit more into this. And then you know when it feels like we're at 480 and 460 it's like oh no was my thesis broken down x percentage. But again, it's all again to what timeline and you know, I think this could be a time where we start to get that liquidity back from traders that could be coming into the sector as it feels like more around the $7 low mark is about when the traders start to take notice and you know, we'll look for new intraday highs that come through. And you know, like Liam said in the past years, it does seem like the fall and winter times for the market is when the EV toll companies seem to have a little bit of more market success. So, you know, we don't have the crystal ball, but you know, I'll still put my price to market of 1250 out there on Archer. It was reached last year. It ultimately got rejected more through I think a little bit of dilution but really the macro kind of took a downturn really on all the high beta especially non-revenue generating which I always feel interesting where we can have a company here that was non-revenue generating yet was not holding debt and sometimes it was almost feeling like the market was rewarding some that would have let's say a physical quote unquote product or even in the quantum space this dislike product or idea of a product getting the cubits going and such, but there's a ton of debt on the balance sheet. You know, Soundtown AI, it sounds like a great idea. You know, they're being incorporated into Wendy's and such like that. There's a ton of debt on their balance sheet. So, to the individual investor, you know, just taking all of those cash balances and revenue driving opportunities and making the best decisions that we can make.

Guys, keep smashing that like button. One over 100 likes and we'll bring Archer Aviation in here. Also, smash that subscribe button. We'll be running a free giveaway. You have to be subscribed. You have to have hit the like and you have to be here until the end of the call.

That was fun, too. And please know that we take notice in a very kind way because it's so cool to see all the ones that have been here. You know, shout out to Bag a day one Christian a day one. Cotor has been coming in, you know, everybody that's new coming in. It's just, you know, we really appreciate, you know, again, this aspect of growing a community around Archer Aviation as well as the EV toll sector. And I get it that the long game is for all us to probably want to come out of this on the green end and our portfolios. But again, you know, we're going to do our best to bring you the information that's factual and up to date with Archer. And you know on the EV toll weeklys we always have a little bit of fun and maybe that's when we can kind of tinfoil hat and you know start trying to hypothesize what's going on behind the doors of Archer. But it's really exciting to see them and really quick I'd like to be given a little bit information on their ramp up capex and to see how that's going for factory and facility buildout. So again, this is one of those calls I said on X the other day. It's like I feel like and this was pre to the Boeing announcement that this almost feels like we need the fireside chat with Adam. So it's like we I feel like we need just like two hours with Adam just to talk and then it's like, okay, go go go do your earnings call, you know, get go bang out your prepare remarks, do a great job with that. And as always, I'm going to be very interested in the follow-up Q&As. Again for me I'm always going to highlight Savvi and I think Amit from AC Wayright was really knocking out some questions on past EV Doll calls as well. So excited for the Q&A too to come up.

Big shout out to Anthony Sector Buller $1,200. Anthony big investor in Horizon Aircraft and he has done a few videos there games so make sure to check them out. Cedric says, 'Okay, well, I just read some more information on why the V22 Osprey is so costly to operate, and I feel better about Thunder.' And I think there's a lot of comparisons between the V22 Osprey and Archer Thunder and Midnight, completely two different aircraft. They look alike from the outset, but no, they're two different aircraft. Goldstein says it's not an Osprey. No hydraulics, no cross shaft. Electric engine will be complicated but not Osprey complicated. That's from Adam Goldstein on X.

Yeah. And this goes into the whole fly by wire system, you know. So that's why it's so important. It's again it's not your hydraulics when you go left this piston has to shoot down to y'all left y'all right. It's really this integrated flybywire computer system. And again, we saw Betate Tech come out with an amazing one that was great enough for New Horizon to take notice and procure their fly by wire. So, yeah, you know, it's one of those things where on the outside some of these aircraft can be like, 'Huh, is that similar? Is this the same?' But, I mean, it really gets into the nuts and bolts and the system wirings and just how much different IP goes into building out these aircraft. It's very exciting. It's very exciting these new age aircraft that are coming.

And it's fascinating how the Thunder Halo actually works, too. So, you've got it actually runs off jet fuel. It was originally speculated that it was all electric, but it runs off jet fuel. The jet fuel goes to power a generator, and that generator is what turns on the motors and rotates the propellers. It runs 100% off jet fuel. No need to charge. And when you think about it, that's really a good thing because in a military situation, you don't see all these aircraft carriers carrying chargers. They don't have the beta charging cubes. They don't have the geeks charging from Joby. They have jet fuel. And so to have an effective military aircraft, you've got to have it run on jet fuel. When's the last time you saw a refueling helicopter charging another aircraft? You have never seen that. And you never will. You will see that a hundred times a day probably with jet fuel. Jet fuel has to happen if you want to use it in the military.

And that's the thing. If you're going into front line and you can't be just landing and hooking up to the next power station that you see charging more or less there will be very little power stations around you to fill her up.

And sorry because I know we're super excited. But and two, I think it speaks a little bit to what we've heard on multiple calls, and I'm not even going to take it as a shot at Joby anymore. I'm just going to take it as more factual of what the difference is to even the aircraft or the unmanned aircraft that we're seeing where you can't just go and slap a hybrid propulsion system on the side of a Midnight. I'll use the Midnight in this example, and have that be the specs that the DOW and/or Angel were looking for. So again, it's those things that for the last year we weren't able to hear a lot about and then you have Thunder Unveiled and you get to see what the difference of a aircraft of a clean sheet build versus again taking the aircraft that you've been working on and just basically giving it a new propulsion system to work off of for range.

Guys, pushing in. What are we four minutes till closing bell? We're up what 12% starting to climb quite nicely into closing bell. Look, as I say in all my earnings, if you're in now, you're in. If you want to get out, you have got out. Do not worry. Whatever happens over the next 12 hours. We might get a massive selloff. All this news, we could get a massive selloff on earnings. You're going to have people jumping in saying it was the worst thing since sliced bread. You could have everyone jumping in saying it was the best thing since sliced bread till opening bell tomorrow. We just do not know what is going to happen. So you're either in or you're out. Don't go messing around with earnings. You'll probably get stung either way. Are we expecting guys us to go up or down on earnings?

The pump or dump question. Right. Let's see what you want to go first or what you think?

Yeah, I can go first. I think a lot of the sentiment around Archer Aviation is tied to N704 AX. Yes, this Boeing thing was amazing. It's jumped the stock over 20%. Love it. The H Thunder Halo thing, amazing. But they want to know about N74 AX. And I'm here to tell you, you're not going to see a transition flight on this earnings call. Do not expect it. If you go into thinking that you will see a transition flight, the telemetry tells me way otherwise it will not happen. You might as well not listen if you're expecting that. So because of that, I'm expecting a sharp jump like we had this morning and it will probably be followed by a sharp decline. I hate to tell you that, but that's my prediction.

I'm feeling we're going to sell off. We're on a sell off. I believe I think we're going to sell off on a massive pump like that anyway. You need a little never holds a pump over 10%. That's just... Yeah. You need a little bit of a relax. Well, that alone will tell you that we're going to have a small dump and you as an investor that's not going to sell in the next 5 to 10 years, that should be a great opportunity for you. But if you're planning on swinging trading this earnings and you've bought calls, I wish you the best of luck.

Look, we could be wrong. Probably are going to be wrong, but I would expect us to go red close. Dylan, how are you feeling?

You know, it was interesting the way that Joby reacted. You know, it almost seemed like there was no move during that call at all, you know, and I almost expected the next day that Joby was going to sell off. Just, you know, personally what I thought during the call and no immediate reaction, market reaction after and Joby got some love the next day in the market. So, you know, again, I think, you know, it is I think it's a dual thing for me. I'm going to go on the side of Pump. I'm going to put out there that this is going to be the best spoken call, the best Q&A. And this is the call where we literally have answers to defense questions. We have answers to transition questions. We have answers to software questions. We have answers to revenue questions. We're I think again one of the boxes or that this and these companies have been in a little bit is again where are we going to deploy the commercial aircraft when they do start rolling off the production line. So I'd love to hear from Archer how they are feeling when they are starting to build an aircraft and their time on maybe getting that out of the end line of that production door. So yeah I mean it'll be interesting to see tomorrow too if there's any and again don't take these as gospel but any analysts reratings on the company and to see how that drives the market sentiment as well. So I know it's been a big day for Archer but you know it looks like at the moment we're in a new channel. So again whether that's going to be a consolidating channel or one that we know that there's channels above this for Archer. I haven't checked in a while any open gaps, but yeah, non-financial advice, but I'm going to go on the pump side and that we're going to hear a lot on this call that we previously hadn't heard on prior ones.

Scott says Boeing won't buy in if it didn't have potential. I agree there. Look, we've hit closing bell 626 11.9 on the day. Fantastic. Good job. I am now going to take this off the screen and I am going to keep an eye on the shareholder letter getting released. Arts are normally pretty quick and they are quick straight out.

Nice. Wow. Right. Shareholder letter. Right guys, let's go straight into it. Right guys, I'm gonna take Oh, no. Comments might be okay on screen. Can you guys read that? No. or do you want me to zoom in a bit?

Uh, I got it up on mine. So, you go for what you want, Liam. And if you want Oh, and also I'm hoping to hear some more about Aces before we get into it. I had that down. I need some more on aces, too. So, yeah, let's keep it going. But I got it up if you want to kick it over, Liam. And I'll follow along on my end.

Guys, jump into the chat. Let us know how you're feeling. I've taken the chat off the screen just so we go through this. So, we are going through shareholder 2026. And look at that beauty. We're looking at right so the highlights here we go they've signed a deal to acquire Boeings Wisk Aero, Insitu and SkyGrid in a highly strategic transaction with Boeing to invest in Archer and collaborate and collaborate is the big one with the asterisks guys smash that like you're getting in unveiled Halo and Thunder jointly developed autonomous hybrid eVTOL platform designed to serve both defense and commercial applications with Anduril. They announced Z, Archer's AI foundational model, purpose-built for aviation and its frontier breakthrough for aviation safety. They launched ACES, America's Consortium for Electric Skyways to bring interoperable charging to 250 sites across the US by 2030 with Beta Technologies and Muir Capital. We've got a special guest. We've got a special guest in with us here.

Well, Adam, we can't believe it. It's nice speaking to you again. But where did you pull that one from?

Yeah. Where have you been hiding that one? That one just came out of nowhere. I actually didn't look at the market and everyone started pinging me left, right, and center. They're like, 'Have you seen Adam's post today?' And I was like, 'My god, Adam, do you want to explain a little bit about it?'

Thank you so much for that very detailed analysis there. Dylan, do you want to jump in with any questions for Adam?

Yeah, Adam, honestly, first I want to say, you know, since the acquisition of Hawthorne, I think Archer has just continued to put these building blocks and just show how you have been delivering being a multi-faceted business. So, you know, as Z was getting announced, you know, I think it's been so exciting to see how that can fold into the modernization of the ATC with you being able to have Hawthorne under master lease already and just getting to see again where you've had two clean sheet builds of Midnight and then the unveiling of Thunder and Halo. So, just any excitement that you can share around Thunder and just anything you and Palmer have been talking about that you could share?

Thank you. Do you want to jump in have a question for Adam?

Yeah. I just want to say first congratulations on this new partnership acquisition. Congratulations on your progress with N704 AX. We're loving everything y'all are doing. I just had a weird question. I don't know if you can answer it exactly, but you stated on the last earnings call that you would be starting commercial operations by the end of the year. Can you tell us what state you're planning on doing that in or is that too much of a bold question?

Thank you so much, Adam. And we appreciate everything you do. Just keep pushing forward. We're backing you to the hills. And yeah, good luck in the earnings call. Have a great earnings, Adam. Thank you for everything. Great seeing you.

What about that, guys? What about that? I hope the special guest was worth hanging in there for, guys. We did. You know, we tried to deliver what we can on what we say we can. And being honest, we didn't even know who the special guest was coming in, per se, but we knew it was going to be somebody special. And you know sometimes in the moment it's kind of amazing what comes to fruition. So now that he's off the screen again just want to really thank Adam for taking that time to come on to the show. And I think what it shows is Adam's not oblivious to what we're researching, what we're talking about, what the investing community is looking at and looking for. And to me, again, that's a CEO that I've been riding with and I can back because to me, this isn't all about Adam. This is about a transformation of aviation. This is about an investor community and like you said, it's been gritty. It's been one that's hard to stomach and go through sometimes. But when you look at everything that Archer Aviation has done and just like he said, you know, bringing these companies together, I mean, again, let's highlight bringing these companies together, the ecosystem of eVTOL, where again, we're not thinking this just, you know, we have to be Camp Beta, Camp Archer, Camp Joby, where really the success of UAM comes when these companies are all together. And I'm going to be repetitive and redundant and say that one of the first things I saw when I was deep diving this industry was the Wisk CEO, the Archer and Joby CEO all on stage together. And we recently got to see Kyle, Joe Ben and Adam minimally on stage together. I think out in Farnborough talking as well. So, I mean, when you see the movements forward with ACES, which I hope to learn more about on this call as well, and maybe we'll get to learn a little bit more on Goat's question, and get to hear that on the earnings call as well. Again, you know, just thank you, Adam. Thank you for taking that time to tap into the retail community, and show him some love in the chat, just so he knows that appreciation, too, if you don't mind.

Guys, I told you Adam is just a gentleman. He will come on. That was not scripted. We didn't know who was coming on, what was I had a pretty good idea what was happening. We did get a message from Archer early on. So, I want to thank Adam. I want to thank everyone at Archer. Look, we told you guys eventually we will start speaking to everyone in the eVTOL space. Adam is the first of the big two to come on to a retail platform and speak directly with you. So, thank you so much. We're hoping to speak to Adam very very soon. Make sure you're subscribed to the Hustle Brothers. Completely free. No ads. Didn't I tell you no ads? We could have, if we want to pump this, I could have just got revenue through the roof there because everyone started jumping in. But before we get too carried away, we do have an earnings call to cover, guys.

That's true. Let's jump. All right, let's jump to it. I couldn't believe that as I'm talking about the earnings the blood watching as soon as I saw the Adam Goldstein label on there I was just like guys what are we going to talk about you know.

Well and that's the thing too really quick you know a lot of time when you're talking with CEOs and stuff there the marketing teams and we won't harp on this much because we'll get into the earnings call they want scripted questions sent over they want the questions reviewed they want to know what people are going to ask and they didn't ask for any of that so I'm not going to lie did I think Adam was coming on today. No, I figured he would want to know what we were going to ask him. He didn't because he wanted to come and show that love to that retail community. So, Liam, on that, I'll kick it you to any thoughts or if you want to keep going through the deck.

Yeah. All I want to say is guys, there's so many questions all of you guys have for the whole industry, whether it's Adam, whether it's Joe, Ben, anyone. So, jump into any of our videos, the comments, and say, would you be able to ask Adam this? I'll compile a big list and we can email out and see if we can get you guys answers. I just want to show that we're authentic, guys. I want to show that we're here for the community and yeah, no matter what anyone says, we're here to stay and yeah, let's just dominate. So, anyway, strong liquidity with Q2 ending. They now have 1.6 billion of cash and cash equivalents. That's actually a lot better than I thought it would be. Dear shareholders, we had it from the man himself there, but dear shareholders, today we announced that we have entered into agreements to acquire Wisk Aero, Insitu and SkyGrid, three highly innovative Boeing owned companies in exchange for Boeing taking a strategic equity stake in Archer. We anticipate closing the transaction by the end of the year. The transaction will help accelerate our evolution into becoming a diversified aerospace and defense platform. After closing our product portfolio will span piloted air taxi unmanned aircraft systems in group two through five purpose-built AI for aviation and vertical technology stack for autonomous flight. Let me walk you through the transaction rationale in more detail. Archer got its start by standing up a world-class team to find the most efficient path to commercializing the air taxi industry. That will always be core to our mission and Midnight is well on its way to achieving that. We went from an unknown in 2018 to today leading the air taxi industry in certification progress with the FAA. As I've talked through the last 18 months, defense is becoming an increasingly large near-term market for autonomous vehicles. Last month with our partner Anduril, we revealed our group 5 Halo Thunder platform, a clean sheet autonomous hybrid electric eVTOL aircraft for both commercial and defense. Thunder, Anduril's missionized defense version of Halo aims to serve as a loyal wingman for reconnaissance attack helicopters like the Apache targeting multi-decade programs of record across allied forces. It becomes increasingly clear that the combined market for this group five platform is massive and in addition to the revenue deploying NASA tech early in defense can deliver value across Archer's entire business with benefits like autonomy and lower costs flowing back into the air taxi products. Over the past year, we have been assembling a focused team on Halo and Thunder to build the autonomy, flight controls, sensor integration, and flight test capabilities. WISK will help us round out this team. We're acquiring Wisk to accelerate the Halo Thunder platform, which I believe will be a generational vertical lift platform. Wisk has developed some of the most advanced autonomy, flight controls, and sensor technologies in the industry. We plan to deploy the technology on Halo first so that we can harden it and then bring it to the air taxi platform when the FAA is ready to certify autonomy for passenger air taxis. I am confident that our planned acquisition of Wisk can accelerate Halo Thunder research and development at a fraction of the time it would take us to achieve the same results organically. As part of this transaction, we are set to acquire Insitu, one of the most trusted and reputable intelligence surveillance and reconnaissance drone manufacturers operating profitably with over 200 million in annual revenue across 35 countries. Insitu, which has manufactured over 4,000 group two and group three UAS to date, will give Archer an immediate sizable revenue base to grow in the near term. Its fleet is nearly 2 million autonomous flight hours, building one of the largest data assets of its kind, key to our autonomy development. This transaction with Boeing would not have been possible without the relationship we have cultivated with Boeing over the last couple of years. Boeing is synonymous with American aviation and our deal structure demonstrates how leaned in they are for a future together. Taking all stock with a lock up plan, collaboration with us across many fronts and committed to future equity investment in Archer. A core value proposition for us both in the opportunity to jointly drive innovation in aerospace, defense, and autonomy and deliver long-term value for shareholders. I want to thank Kelly Ortberg and the Boeing leadership for their trust and belief in Archer as the long-term partner. Last quarter, I called Archer a dual threat company that we are commercializing both the air taxi and dual use autonomous eVTOL aircraft platform. Over the last couple of months, we shared more on our strategy for purpose-built AI for aerospace and defense. We introduced Z, the world's leading aviation specific foundation model. A unified intelligence platform built on ADS-B, ATC communication, maps and charts, aircraft movements, terrain and weather data designed to run on device across environments from air taxi and UAS to commercial airlines and air traffic management. And just last week, we announced that the model delivered a frontier breakthrough in aviation safety. Highly accurate real-time airport surface trajectory prediction to safely adapt this technology into aviation ecosystems. Our teams are working with the government agencies and customers to rigorously validate Z in the real world. In fact, we have already begun testing Z at Hawthorne Airport, our future LA air taxi hub. SkyGrid is highly complementary to Z as it's been developing next generation airspace management solutions since 2018. That tech is in use today and I believe SkyGrid Plus Z can become a must-have air traffic management product that helps modernize airspace around the world. I see a clear path to significant AI revenue and the team is headed down building towards that. I am confident that the other side of this transaction with Boeing is a stronger Archer with a groundbreaking end-to-end physical AI platform for aerospace and defense. I've tasked my team with integrating these companies to do so in a thoughtful and synergistic way that will not structurally increase our overall cash burn. That is so no increase to cash burn through it all. Commercial Midnight program continues to accelerate and remain a top priority at Archer. Recently we flew our first intercity flights in California and over the past few months we plan to begin flying the Los Angeles area based out of Hawthorne airport and subsequently commence operations under the White House EIP in Texas. Beyond flight, our team has also been hard at work in the infrastructure front. This quarter, we jointly launched an infrastructure first consortium with Beta and Muir to scale infrastructure across the US and unify a single approach for OEM and vertiport developers. I'm proud to do that arm-in-arm with Kyle and the team at Beta. I'm telling you, Beta are just a juggernaut, too. I started Archer to change the way the world moves. Nearly a decade in, I've never been more confident.

All in Adam, that's right, guys. What are we thinking? What are we feeling? Texas, Texas, Texas. That's where eVTOLs are starting. Joby's going there first. Now Archer, it was obvious. That's what we all thought. And Texas is going to be the start of the eVTOL sector, eVTOL flights. Wow.

Well, I think it shows again the symbiotic relationship that, you know, maybe some would have put Adam on the other side of either wanting or wanting to have, you know, within six months or a year ago. And I don't think that's true. You know, again, he's coming out. He's talking that this is a UAM. And again combining in with Beta Archer Aviation also in that fold. You know again and the way that he's speaking of the confidence going into this is a lot of past letters in this sector have always been about you know timelines of commercial operations and commercial operation starts and this is a shareholder letter about a multi-faceted business that has had the foundational blocks put in and it's time to grow off of them. And he seems very confident and again I think even him coming on just shows a confidence in the presence that you know he is very proud of the work that he is doing and also proud that the community is taking notice of all the work that's going on there too. So so far banger of a banger of a letter.

Guys 71 of you have liked the stream. Let's get that over 100. We got Adam on the stream. Want Adam back? Let's get over 100. Building the physical AI future for aerospace and defense. So there we go. Going across Wisk autonomy technology and top talent to accelerate our aircraft programs. Six generations of aircraft over nearly 20 years. End to flight autonomy stack designed to achieve the highest commercial aviation safety standards. 1,700 plus hours of autonomous test flights across six aircraft generations since its 2010 founding by Larry Page. Critical enabling technology so multi-sensor detect and avoid sorry precision landing technology and in-house simulation solution with advanced software verification and validation capabilities. Synergies from 12 to six aircraft design with focus on vertical integration in avionics, flight controls and structures and leading IP portfolio 700 plus patent assets in key areas. There you go. Going into Insitu we have one of the most trusted and reputable ISR drone companies in the industry. Pioneer in the design, development, production and operation of high performance, cost-effective tactical group two to three uncrewed aircraft systems. They have 200 million plus annualized revenue and profitable with customers across 35 countries. Nearly 2 million uncrewed flight hours across 175,000 plus flights in active combat zones. Shipboard maritime missions and harsh environment operations. 4,100 aircraft produced with 500 plus active patents. Product portfolio spans two leading UAS platforms. So we have ScanEagle long endurance group two tactical ISR small footprint workhorse with 18 plus hours of flight time and up to 17 pounds of AI enabled payloads. And then they have Integrator expeditionary multi-payload group 3 ISR built for US Navy and Marine Corps. Can fly up to 27.5 hours with 2,000 nautical mile range and up to 50 pounds of payload across 10 bays. And then we have SkyGrid. Yes sir. SkyGrid is next generation airspace management solution highly complementary to Archer's Z AI solution enabling safe integration of autonomous aircraft into shared airspace via next generation technology. It fuses critical data sets to form a high fidelity digital model of the airspace for air traffic controllers. Delivers advanced automation and decision support tools with flight plan validation plus automated traffic surveillance synchronization deconfliction and rerouting. High assurance technology backed by robust safety cases cyber security controls and rigorous engineering and then spatial pathfinding algorithms have calculated collision-free trajectories for 10,000 plus simulation aircraft in large metropolitan area simulation. So another highlight from the quarter, they did unveil Halo and Thunder, which is Archer's dual use autonomous hybrid eVTOL platform with Anduril. In July, Archer and Anduril unveiled their jointly developed autonomous hybrid eVTOL aircraft platform at Farnborough International Air Show introduced as Thunder for defense missions and Halo for commercial applications. The two variants share the same airframe, hybrid powertrain, and core systems with configurable payload depending on mission requirements. They announced Z. Archer announced Z, its AI foundation model purpose-built for aviation, delivering a unified aviation intelligence platform built on ADS-B and ATC communication map and charts. Aircraft, aircraft state and terrain and weather data. The foundation model is designed to work both offline on device

And as a server-hosted solution critical for use in a wide range of aviation environments from air taxi and UAS to commercial airliners and air traffic management. And then they completed the city-to-city Midnight flight and Dylan got that straight off the cuff as it happened. So in July, Archer's Midnight aircraft completed a piloted round-trip journey between Salinas Municipal Airport and Monterey Airport, which each leg completed in approximately 9 minutes compared to over 35 minutes by car.

The flight's executed in close coordination with the FAA and marks a critical step towards Archer launching Midnight operations later this year under the EIP. So they're still backing that this year. So looking behind the scenes, we have Halo there. You're looking at Thunder there.

Nice.

And then we get a beautiful look at Halo.

That don't look amazing. And then we have the...

That guy looks familiar.

You know what's crazy?

That guy looks familiar right there in the middle.

You know what's crazy, Liam? It's like you go down the shareholder letter and you get all of this information and then you get to a page that says other highlights from this quarter. And it's like you would think it'd be like I hired some employees, you know what I mean? And it's like, oh, the other highlights from this quarter, unveiling of Halo and Thunder, announcing Z, the AI foundational, completed city-to-city. So, it's like there's so much going on at Archer Aviation. It's like we can sit there with Adam and there's so much to talk and ask with him about. It's like, do you lean into Z and what's going on with that foundational model? Do you ask about N74AX, Halo, Thunder? It's just amazing the business that Adam has put together here at Archer and to see these buildings, see these aircraft take shape. I think we're really in store for a really exciting Q2 call coming up with Adam and the team. So really excited to hear from Tom as well. But that was awesome. That was a great shareholder letter. I absolutely loved it. What have we got there? We have Z and then you forward look at statements of the letter.

And I'll say the one question I... and sorry Liam I want you to jump in but the one question I always forget to ask Adam when we get the chance to speak with him is just where is the direct connection between Archer and Palantir here? You know, has the card been played yet? It has been played with Z but again, you know, I want to appreciate that Adam comes on, you know, right before an earnings call, like literally before he's about to go and tell us what's going on with this company. So, you know, it's like I'll be honest, completely off guard by who was coming in, but also wanted to give him the chance to basically, you know, it's kind of like, you know, some things are okay to kind of answer pre-earnings call, you know, not checking with legal team, not having scripted questions come by. And I think he knocked it out of the park and being able to fill us in on all the information that he could. And you know, it gets to that point where it's like I want to sit there and congratulate him on the point-to-point flight, but he has had so much other stuff going on. It's like it's not to be forgot about, but it's like, oh yeah, and by the way, congratulations, man. You did a point-to-point flight, which again, how many people were saying was not going to get done, you know? And we can go over fixed-wing versus VTOL, but I think again we go back a year in time. There's been a reason that Archer went down testing out a fixed-wing regime. So for anybody worried about VTOL versus, I think again you got to look at the CEO of the company and the CTO of the company and look at their vision. Maybe not what always our vision of this company is, but like let's look at what their vision is. And coming into August of 2026, entering the second half of the year, again, Adam said on the last call that they were going to have multiple aircraft flying daily. Even today on his earnings call, the date 703 and 704AX both in the air. So, great job. Great job, Archer.

Guys, keep smashing that like button. We just had Adam Goldstein live with us. Can't believe it, guys. I can jump back into some of the comments there. Look, I can go through the financials, but I think what we'll do, we'll do a video after actually breaking down the balance sheet because if not, it'll just get very monotonous and you'll be hearing it again on the call.

Yeah, because I'd love to hear what the chat has to say. You know, this is all for you guys, too. So, you know, let's... and like Liam said, you know, we'll compile some good questions. We'll get them over to Archer Amelia and make sure we'll be back and we deliver the best answers that we can for you guys. Wild Saddle, I see you in here. Big shout out.

So, who Adam and himself respect, I seen Randy did send him a message saying would he join our stream? Well, great job, guys. Where's my shout out?

Everyone was going absolutely wild in the chat. What else? Half of your SkyGrid has few potential confused, but okay.

Me too, buddy.

Hi, Adam. Evan was saying go ask him if he expects more Omen orders and when we will see revenue. Yeah, guys, jump into any of our videos and we'll compile a list to send to Adam. We'll try and get him back on for a longer interview. As we all know, he has a lot on his plate. So, for him to come on to a retail platform where he didn't know what we were going to ask.

And I want to give a big shout out to the community. Everyone was respectful there. No one tried to act up in there. So, I want to thank every single one of you. You made this happen. And look, without you, it wouldn't happen for us. So, I want to thank you. Pretty incredible, fellas. Well done.

Nice. Long time in the making. Yeah. Do you know what?

You guys are truly number one. Thank you so much, my guy.

I appreciate you like. Yeah, guys, keep smashing that like button. Look, this is not the end. We're still doing a giveaway at the end.

That's right.

Will I reach out to see will they help us get more merch out to people? I might do that. We'll see if we can get it by the end of the stream. Guys, just keep smashing that like button. Keep smashing that subscribe button.

As Adam said, together we're bringing the industry together. We don't want any of this bickering. That's what we've said as the Hustlers. We want to collaborate in this industry. We don't want... I don't know, this company's better, that company's better. If one company's better, that company is useless. No, we want everyone to do well. Congrats. What made him join?

I don't know. I put up earlier on I put up that we're doing the earnings and Archer reached out. And I want a big shout out to Randy, you know, and not to just single him out, but to give credit and compliment because these are things like as the community grows, this is what we're here to grow and build and provide for you. You know, tapping into the CEOs, the CTOs and bringing these interviews not just surprisingly before an earnings call. But hopefully some more that are recorded down the line too, you know. So I think again just huge credit that could just coming on live, but a big shout out to Randy because on X, you know, there's been a time or two that I've seen. So just not to discredit if there's been more, but where you've literally been like, 'Hey, like come on the Hustle Brothers channel' and like from the bottom of my heart, just to see that sort of love go out and to come back around. I'm really glad that, you know, we all I think as a community we made this come to fruition and we've been talking for a while that we're going to get Adam on the show. And I think again, you know, great job Liam, great job Go, but great job community. Like that's the love, that's the support that Adam is looking for. And again, you know, it could be corny, but I'm going to stick with my team, hashtag team eVTOL as we push through this. And again, I want to see every eVTOL investor succeed and get to their end goals. So let's keep moving forward in this space.

Joey says, 'Been here a long time. Multiple earnings with you. What did I miss?' Adam Goldstein joined us for an interview just as we were going through the earnings. Couldn't believe it.

Completely unexpected on all fronts. So, yeah guys, thank you for being here. Thank you for being on this journey. Look, I started this whole... look, I had to answer a question there actually quickly. Are we listening to the call live too? Yes, we are, my guy. The call will be starting at... it'll be 10 p.m. my time, but it'll be starting in what, 20 minutes? I started this journey in my kitchen, just talking about the eVTOL space. No one was talking about the eVTOL space back then and yeah, it came to this. Can't believe it.

Enough said. You've heard the story before. I won't get back on to it. Archer has even hybrid models for longer range and building a foundation. Sure is. And it's going to keep growing. My guy, are you doing the beat earnings call? When is the beat earnings call? I can do the beat earnings call Wednesday morning.

Yeah, I can do that. No problem. Can you guys tell us more about that clip that Adam saw about you guys analyzing first time to first VTOL and hold up? He was talking.

Yeah. Do you want to get that up? Go.

Yeah. Basically, what he was saying was we pointed out that... gosh, I'm just going to blank. I can't think right now. I just talked to Adam Goldstein. Okay. I cannot think. We were talking about how the first VTOL test campaign for Archer Aviation took 12 months. That was with the Maker aircraft in 301AX. The second time they did it was with Midnight which was in 302AX and that took 9 months. And I was just pointing out that we should expect somewhere between six and seven months for the N74AX transition flight.

Then go up to a thousand.

Thank you. Are you doing Beta earnings call? Yes, we will do. Wasn't the Palantir collaboration for organizing the flight day and creating an automated program for air traffic controllers AI ground control?

Do you know what I think what we got to do? We got to create a video where we put the puzzle pieces together on the whole eVTOL integrated model because we are starting to get a lot of like conflicting information not on Archer's part but in our own heads we're like right, if you have Nvidia IGX4, if you have Palantir, if you have SkyGrid, if you have Z, where does it all fit in? We will tie it all together. So keep an eye out for that guys. Rapid fire this last month or more been saying had to wait for Palantir collaboration and Olympics to 2028. If you can't wait this sector isn't for you. Very exciting though.

That's right.

Randy gives some love. Nisha giving the love there.

Love it. Guys, to do the bottom right corner. If you've already hit the like button, keep smashing them reactions. It gets us out to more people. Therefore, more people will be listening to Archer Aviation Airlines potentially get more investors in here and we're all happy. So, yes, just a little Archer and Boeing hint. Don't forget Virgin Airlines. Virgin Airlines is with Joby, my guy.

Joby and ASI already won the AI competition from the FAA.

ASI won it.

Yeah, a partner in that and we heard an awful lot more about that.

It's more of a... it does everything that the ASI flywheel claims to do, but it's also a companion to that. So you'll have the flywheel in most aircraft. You're also going to have Z when you want Z and it's just going to do a little bit more, a little bit extra. So it's kind of the same thing, but it's also... it's the same thing, but with an extra layer on top.

Well, like you said, it's like layering foundation models on top of each other. And you know, like if you've been following Palantir for a while, you've seen how ontology is really the kind of base layer in which everything's been able to grow there. So again, ASI, you know, when you look at them, they're looking to model out the 4D landscape of the skies. But there's a lot going on in the skies that isn't only controlled by the ASI 40% share of the basically the airspace. So, it's one of those things where again I was talking with Liam Prior where when we look at the companies even like DoorDash who are starting to go out with a drone delivery system and then you have like the class three drones and stuff like that. The more drones and the unmanned aerial service vehicles or whichever kind of use case they're being used for, it seems to me that there's going to be an integrated flight model that these will most likely have to work and operate on. So again, as we look to multiply, put a heavy multiplier on the amount of unmanned vehicles or unmanned drones and even in the delivery sectors that we'll be bringing, they're going to have to have something that's in there talking with each other. And again, Z both with being that AI foundational model for predictions within the airspace, also working that in as basically like a co-pilot operation assistance system as well. So there's a lot going on and I wouldn't be surprised again as ASI continues to work through building out the 4D of the sky. I wouldn't be surprised if they run into anything that they'll look to again grab more information as Boeing, you know, I would see them reaching out to Boeing honestly and maybe taking a look at the trajectory of what Wisk has done. And again, as we know of today, the pieces of the puzzle are being put in the line for Archer Aviation to now acquire that IP as well as the aviation and Wisk and all of those flight hours and flight data. So, it's a big win.

This made me laugh getting Adam on 30 seconds after closing bell. Not bad for three guys who just wear hats. Yeah.

Hey. All right. You know, I know I left my hat off today. You know, that's so stupid.

Do you know what the guy that said? We know nothing about EVs and this that and the other and we claim to be this that and the other. Yeah, we got Adam on 30 seconds off the closing bell. So, put that in your pipe and smoke it.

There you go.

There we go.

Aircraft waiting to be delivered. Countries are waiting for Archer. I agree. Has Archer conducted a VTOL flight? Have conducted multiple VTOL flights. Go actually gave the most recent VTOL flight earlier on up to 500 ft.

I'll bring it back up.

Can Go turn the mic up a tad. I think you've...

Yeah, thank you for letting me know.

ASI's contract is for 100% of FAA airspace, not 40%. It covers the entire... Yep. No, I got you there, Whisper. So, in that what it is is at the current time ASI basically their flight systems control at this time on average about 40% of all the airspace. So, I am not saying your comment is wrong, but just to kind of back up to what I was saying, in the current way that ASI operates, they're currently running about on average 40% of the airspace. So, yes, you are correct. Now, to remember, Palantir is really the project manager over the modernization of the airspace. ASI has been brought in to again bring in that 4D landscape and just like you say, Electric Whisper, to yes, have that route out to conforming FAA and to get that done as well. So yeah. Not to mince up what I said. So no, you're on point with that and just that kind of accumulation of what the higher altitude FAA maps and layout is. And then again as we start to scale down into lower class of airspace and building out those 4D models which again correct that ASI was awarded that contract and I foresee them doing very good things in building out that 4D landscape as well.

Guys there's going to be zero ads interruptions only at the host. These will have no ads playing throughout the earnings. So, make sure you're banging that subscribe button, banging that like button. We're not at 100 likes yet. Make sure to get us over 100 and we will run a free giveaway. Didn't give away Joby Aviation merch on the Joby Aviation. We've just had Adam on. They're speaking with us. Do you want some Archer Aviation merch? Make sure to stick around to the end. Smash that like button. Smash that subscribe button and stay active in the chat. More active you are, more likely you are to be selected.

And just as a big shout out to the ones that won the Joby, it is in the mail. Hopefully arriving soon. And not like of any big thing, but just to know at this current time, we are not flooded with merch from these companies. There's no payroll that we're on or anything like that. So, again, I hope everybody that receives their gift, really knows that it came from my heart. It is official Joby merchandise, that was sent to me. So, again, as much merch that gets sent to us, we're going to look to turn that around and fulfill the community with that. So, much appreciation to any of the companies that send that merch over so we can bless you guys out with that as well.

Big up Bag Holding already posted the ad clip right and link the call. Thank you so much, Bag. We need to... Love you, B.

Any updates on the transition flight? I've seen a few of you guys went for or were asking about the transition flight. Look, I'm not expecting any updates for transition flight.

As long as we don't get an update that it's not happening by the end of the year. I'm still going with it's happening second quarter of the year. So, I wouldn't have expected.

We're very unlikely to hear that there was a transition flight. It's not going to happen.

Well, not just... Oh my god, here we go. Big shout out after King Derf became a YouTube member. Do you know what I promised him for this stream? I said any super chats, any members, Dylan's currently on vacation and we all know his son there. So, anything that gets raised during this will go to his son and he's going to take a few pictures for me and we might blur out his face in it. But whatever he spends it on, he spends it on. So, I'm telling you, King Derf, thank you so much. That's going for vacation.

I'll tell you I'm excited, man. Yeah, fire the next one up. But I'll tell you, I'm excited. We got just under 10 minutes to go until we hear from the man himself.

There we go. Another one. You know what? Dylan's son's going to have a field day.

Hey, happy. Thank you so much. Big respect there.

Yep. Much respect. Much respect. And again with that, that puts a lot on my shoulders to keep bringing you the best DD, the best content. So, I just want to say thank you for believing in us as a channel and supporting us. And that I know that just fires me and Liam up that we're just going to keep coming back and being the best we can every day and we're going to get everything rolling so that when we get to the Q3 call, you know that you're going to be as most up to date as possible. But no, everybody, much love and thank you all for being here. It is very cool to celebrate this with you guys.

Madan, you guys are great and very informative. Guys, make sure you're not only subscribed to the Hustle Brothers, but both to Stock Dylan and the Goat Games. You get all types of EV content coming out from all three of us. Great live, bros, with the caps. Thank you. Thank you so much.

I love it. I love it.

I feel like that's now going to be our saying, isn't it? I was just about to say I was like I feel and again non-financial advice but I feel like you know the industry and the sector is about to take off when you start getting these inside jokes within the community you know and those again this is how we know like the day ones you know three years from now when we're all talking about hats or wearing hats it's like everybody will know this was back from Q2 26 and we were all here to experience together and that's what is this beautiful harmonious thing about it and I say it really honestly from the bottom of my heart that it's just really so cool to share this with you guys and again if you got any of those last minute thoughts and last minute comments before we jump into the call what you're expecting what's going to make you bullish what would make you bearish you know I know there's a lot of talk about the transition and you know I think for me with the transition I think probably hearing from Tom most likely but hearing that it's still in line for transition on the second half of the year and again keeping in mind that we're at August. And I'll say that the progression personally for me that I've seen from 704AX from June to August just kind of track... I'm sorry I guess July 1 through August. So, I mean, we've literally been what 35-40 days to the second half of the year and we have not only had 704AX because we were always tracking on ADS-B and telemetry, you know, we weren't able to get that FlightAware and I believe it was... I got on my spreadsheet. It wasn't August 5th. I think the 15th they did some stuff, but I'll track it back. But it was amazing to see the 74AX was able to at least have enough data that was able to be caught on FlightAware. So, we're going to keep tracking it. We're gonna keep you updated. And I think it's one of those Rubik's Cube questions of is the Hustle Brothers gonna find out transition before Archer Aviation releases the information because we're on top of it. We're always checking. We're always refreshing.

But is Archer going to shut off the ADS-Bs that day just so they can do it without the Hustle Brothers trying it first? I don't know. But they still might have to keep them on for FAA reasons. So...

I just realized that my mic wasn't turned on for that whole thing.

Well, then you tell us what's on your brain. Liam, what you got?

My mic. I switched mic.

I muted mine, too, cuz I'm trying to listen for the call.

Yeah. Yeah, I should have had this mic playing. Sorry, guys.

Right. You guys just had a CEO of a multi-billion dollar company on. Let that sink in. I can't believe it.

I'm trying. I'm working on it, Sy. I'm working on it.

That's the truth, man. That's the truth. It...

I'm happy we didn't find out till today. Yeah. Because if I found that out last night, I wouldn't have been able to sleep, my guy.

No. No way.

And you know, again, it's having prepared questions versus off of the top. So, you know, again, when you don't know who's coming in, it's like, do you get a question prepared to ask Tom? Are we going to ask one of the chief marketing executives? You know, and then you see in that box that it's AG and it's like, well, I'm going to let him talk until I need to ask a question. Oh, I get to ask a question to AG, too. Let's see what we can do the best for the community. So, I really hope that you guys enjoyed his stop in. And like Liam said, we're going to keep beating the door down to see if we can get him on for some recorded.

Dane, let's hope for the same impact as Joby's call. I'm expecting quite a nice run. Look, we are down 1.4%. Oh, no. We're pretty flat. Just told Joby was... I'm expecting a pretty exciting call. I can't even lie. I want to do something for you. First of all, can you hear the music? It's quite quiet, but can you hear it?

No, I can't hear it.

You can't hear it?

No.

Hear it there?

Let's see. Coming back in. Mhm.

Tell you when you're heavily allocated in Archer, a nice pump in the day definitely helps the year to date. So hopefully everybody's year-to-dates are doing a little bit better after today. And it'll be interesting because again with Joby, it's almost like it just sat there and consolidated. I was actually thinking it would sell off the next day after the call. So, you know, kind of one of those rhetorical questions as you know, money can kind of rotate and be relative to what it is. But, you know, would it be one where you'd rather see the pump during the earnings call and then a market sell off in the morning or would you be able to go to bed tonight feeling good that you got your market pump earlier in the day? It did sell off a little bit because again, we know the market is going to go up. It will go, you know, it will sell off a little bit. I mean, that's a big pump in the day for any company to have. So profit taking is allowed and you know going into tomorrow, you know, I can't say that there won't be a 10% drop, but I also can't say that we couldn't get some 10% love. And again, it's early in the week, so I don't know if there'll be complete kind of options foolery kind of going in, you know, depressing any of the stock price. So, let's see what Archer can do kind of on the Tuesday, Wednesday, and Thursday of this week and see how they...

Yeah. Yep. Yep.

And in the... I can... So, in the chat though, if you can hear the background for the earnings call, definitely let us know. So we can share that out with everybody too cuz we are about two and a half minutes away from I feel like what we say every quarter, but I think it's true. The most important earnings call in the eVTOL industry yet. And we're only minutes away.

Dax, my guy, I think you found out. Yeah, we had Adam Goldstein earlier on in the chat about 30 seconds after closing bell, he was on. Were you here? Yes. All the guys hear the music.

I'm loving it, guys. We are one person away from 5,200 subs. Be that last person. Bang that subscribe button. Goat has just said he's willing to give away an Archer 2100 hat in a giveaway.

There you go. There.

So, yeah, I'm going to reach out to see if we can get some merch for you guys. We'll give away an Archer 2100 hat. We might give away a few memberships. And yeah, YouTube guys that have joined the membership, thank you so much. That is going directly to Dylan's son to enjoy his vacation because I love it. James says, 'Archer guys, congrats.' See the guys watching the stream.

No, thank you so much. Just picked over to the hack guy. Not even half. I knew that wouldn't happen. I knew that wouldn't happen. We've been dominating that fella for a long time. And when he... Do you know what? when he told me that we don't speak to anyone in the industry, that just got my back up. So, there you go. There, let him respond to that.

Yeah, there you go. I like that.