Key Takeaways Archer Aviation highlights FAA milestones as key to moving Midnight from testing to operations.ACHR targets 2026 certification steps, including Type Inspection Authorization and demo flights.Archer holds $2B liquidity but expects higher 2026 spending and continued losses pre-commercialization.Archer Aviation (ACHR) is still in the pre-commercial phase, so the most important milestones are not quarterly revenue beats. They are the Federal Aviation Administration gates that determine when Midnig ...