Archer Aviation Inc. (NYSE:ACHR) Q1 2023 Earnings Conference Call May 11, 2023 5:00 PM ET

Company Participants

Andy Missan - Chief Legal Officer

Adam Goldstein - Founder and Chief Executive Officer

Tom Muniz - Chief Operating Officer

Mark Mesler - Chief Financial Officer

Conference Call Participants

Bill Peterson - J.P. Morgan

Andres Sheppard - Cantor Fitzgerald

Edison Yu - Deutsche Bank

Savi Syth - Raymond James

David Zazula - Barclays

Operator

Good afternoon. Thank you for attending the Archer Aviation Q1 2023 Quarterly Results Call. My name is Matt, and I'll be your moderator for today's call. All lines will be muted during the presentation portion of the call with an opportunity for questions-and-answers at the end. [Operator Instructions]

I would now like to pass the conference over to our host, Andy Missan, Chief Legal Officer of Archer. Please go ahead.

Andy Missan

Thank you. Good afternoon, and welcome to Archer's first quarter 2023 conference call.

Joining me today are Adam Goldstein, our Founder and CEO; Tom Muniz, our COO; and Mark Mesler, our CFO.

Please note that during today's call, we will be making forward-looking statements. These statements involve risks and uncertainties that may cause actual results to differ materially from those contemplated by the forward-looking statements. For more information about these risks and uncertainties, please refer to our SEC filings, including the risk factors discussed in our most recently filed annual report on Form 10-K. Any forward-looking statements that we make on this call are based on assumptions as of today, and we undertake no obligation to update these statements as a result of new information or future events.

During this call, we may present both GAAP and non-GAAP financial measures. A reconciliation of GAAP to non-GAAP measures is included in our shareholder letter posted on our IR website.

And now, I'd like to turn the call over to Adam. Adam?

Adam Goldstein

Thanks, Andy.

2023 is a landmark year for the leaders in our industry. Efforts are shifting to building the conforming aircraft that will be used as part of certification testing in advance of commercialization in 2025. I want to reiterate Archer strategy: build an aircraft with the most efficient path to certification and manufacturing at scale.

Our aircraft design has focused on optimizing for the UAM business case, a safe, sustainable, quiet aircraft that can perform rapid, short distance, back to back trips for four passengers plus a pilot. We believe that UAM will initially be the largest market segment for electric aircraft.