Archer Aviation Inc.

hello and welcome to the archers third quarter 2021 earnings call my name is brika and i'll be today's call operator following the presentation today we will have a q a session if you would like to register a question please press start followed by the number one on your telephone keypad i'll now turn the call over to archers chief legal officer andy misson so andy please go ahead

Hello, everyone, and welcome to Archer's third quarter 2021 financial results conference call. I'm Andy Misson, Archer's chief legal officer. Joining me on today's call are Archer's co-founders and co-CEOs, Brett Adcock and Adam Goldstein, as well as our CFO, Ben Liu. We posted a shareholder letter detailing our Q3 financial results and business overview on our IR website. This call is being recorded and the archive will be available on our IR website. Before we begin, I would like to remind everyone that during today's call, we will make forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual events or actual future results that differ materially from those expressed or implied in the forward-looking statements. These risks and uncertainties are described in the risk factors section of our filing with the Securities and Exchange Commission, including in our proxy statement perspectives filed with the SEC pursuant to Rule 424 , under the Securities Act of 1933 on October 26, 2021. Except as required by law, ARCHER just claims any obligation to update or make revisions to such forward-looking statements. Also, please note that on this call, certain financial measures are presented on a non-GAAP basis. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures are included in our shareholder letter posted on our IR website. We will begin with commentary, and then we'll open up the call to questions. And with that, I'd like to turn over the call to Brett Madcock.

Brett? Thanks, Andy. We are pleased to be speaking with you today during our first earnings call as a public company. Earlier today, we released a shareholder letter that provides a more detailed update on Archer, including our vision and market, our 2021 milestones so far, our 3Q financials, our financial outlook for 4Q, and our business outlook for the coming years. We encourage everyone to review this letter. Our goal was to be highly specific with our accomplishments and future plans, and we will use this shareholder letter as a vehicle for getting this information out to the world. We will not repeat the entirety of the shareholder letter on this call, but we will summarize some of the key highlights. When we started this company, we wanted to tackle two important problems. The first is helping the world move to a sustainable form of transportation. Over the next several decades, a majority of all transportation will move to electric, which we hope to be a contributor to. The second is a way to reduce traffic congestion inside of cities where today half of the world lives. Every day in the U.S., there are more than a billion trips that are contributing to air pollution, and people spend approximately one hour per day behind the wheel. In order to help this traffic problem, you have to use the Z-axis, meaning you have to either travel above or below the ground. We believe a 3D aerial transportation service above ground is the answer. Archer has developed plans that demonstrate the technology is here today to make this work, and we believe will be one of the first eVTOL manufacturers to achieve FAA-type certification. Archer's near-term focus is on designing, certifying, and manufacturing an eVTOL aircraft. That aircraft will unlock a diversified business model across both consumer and commercial categories. Our core focus is to design an incredible transportation service for the masses. We will operate these aircrafts ourselves over an Archer network to move people quickly and safely in and around cities. On the commercial side, we have Archer Direct, where we will sell aircraft directly to large operators. Archer Direct will help accelerate our mission of advancing the benefits of sustainable air mobility and provide diversity to our revenue and timing of cash flows. With that, I will pass it over to Adam to talk about some of our major accomplishments this year.