Archer Aviation (NYSE: ACHR) reported a fourth-quarter net loss of $198.1 million, translating to a GAAP earnings per share of $(1.42), which fell short of analysts' expectations of $(1.24). The company's adjusted EBITDA was reported at $(94.8 million), compared to $(85.2 million) in the previous year. Despite these results, Archer announced the unveiling of its Launch Edition program in collaboration with Abu Dhabi Aviation, aimed at commercializing its electric air taxi, Midnight. The company currently holds $834.5 million in cash reserves and liquidity of $1.14 billion, bolstered by a recent equity offering. Following the earnings report, Archer's stock experienced a decline of approximately 13.9% in pre-market trading but later rebounded, showing a gain of 10% by the afternoon. Canaccord Genuity has updated its rating for Archer Aviation to 'Buy' with a target price adjustment from $13 to $13.5.