Archer Aviation Inc.

Good afternoon. My name is Hannah, and I will be your conference operator today. At this time, I would like to welcome everyone to Archer Aviation Inc's fourth quarter and full year 2021 earnings conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, Please press star followed by two. Thank you. You may now begin your conference.

Thank you, Operator. Good afternoon, everyone, and thank you for joining us today to review Archer's fourth quarter and full year 2021 financial results. My name is Andy Misson, the Chief Legal Officer of Archer Aviation, Inc. With us on the call today are Brett Adcock and Adam Goldstein, our co-founders and co-CEOs, Mark Messler, our CFO, and Tom Yuniz, our COO. We posted a shareholder letter detailing our Q4 and full year 2021 financial results and business overview on our IR website. This call is being recorded and an 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 to differ materially from those expressed or implied in the forward-looking statement. These risks and uncertainties are described in the risk factors section of our filings with the Securities and Exchange Commission, available on the SEC's website and on our investor relations website. Except as required by law, ARCHER disclaims 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 investor relations website. We will begin with commentary and then we'll open up the call to questions. And with that, I'd like to turn the call over to Brett Adcock. Brett?

Thank you, Andy. We are pleased to be speaking with you today for Q4 and full year 2021 earnings call. As we did in Q3, We have published a shareholder letter to our investor relations website, which provides a fulsome update on the company and our Q4 accomplishments. We strongly encourage everyone to review this letter. We want to summarize some of its key highlights. Before we jump into our Q4 update, I want to make clear the key elements of our roadmap. Bringing a new product and a new industry to market is complicated and challenging, to say the least. This is why we have simplified our business roadmap into four key business areas. These four areas will define success in our industry and dictate the milestones which Archer holds itself most accountable. These four areas are, one, aircraft technology. The focus here is advancing the key enabling technologies in design in aircraft capable of moving people in and around urban areas. Two, FAA aircraft certification. Certify our eVTOL aircraft with the FAA to begin operations in the US. Three, manufacturing. Manufacture our eVTOL aircraft at scale and in a cost-effective manner. Four, airline operations. Establish commercial eVTOL airline operations. From the outlet to commercialization section of our Q4 shareholder letter, we have laid out our roadmap in these four key business areas and what we will achieve in these areas in each of the next three years. Additional detail and specifics are worth reviewing. Importantly, Archer achieved all of its stated 2021 goals in our summary business roadmap. We are currently on track to achieving all of our stated 2022 goals. To recap, in 2021, we accomplished receiving a signed G1 certification basis from the FAA, unveiling Maker, which is our full-scale eVTOL demonstrator, completing our conceptual design review for our production aircraft, a piloted four-passenger vehicle, and completing Maker's first hover flight. In 2022, we are on track to achieve our G2 means of compliance with the FAA, Notably, no other company in the world has achieved this yet. Completing Maker's first full transition cruise flight. And lastly, to select our manufacturing site and begin the construction process. Before I hand it over, let me give a quick update on our production aircraft progress. As a reminder, Maker is our full-scale demonstrator aircraft, which we're using to help inform the design and engineering of our production aircraft. This production aircraft is our piloted four-passenger commercial aircraft that we intend to certify and use in our airline operations. After completing our conceptual design review process for our production aircraft in October 2021, we are currently progressing towards our preliminary design review milestone. In order to complete our preliminary design, we are working through the very detailed preliminary design process. During this process, engineering is determining final design requirements completing system and subsystem architectures, integrating those systems through a digital 3D aircraft layout, and finalizing predictive performance models for the aircraft. Currently, we also continue to conduct a variety of testing analysis to optimize the various elements of our production aircraft. This testing includes key areas such as the technology of the battery cells, aerodynamics, and acoustics. For instance, We are currently conducting some very informative wind tunnel tests to help optimize our electric motor, propeller, aircraft interactions, and in addition, we're conducting some critical acoustic testing with our partners at Stellantis. Listeners can read more about these tests in our shareholder letter. Ultimately, our production aircraft is progressing very well and remain on track for an initial unveiling in 2023. Lastly, I would emphasize the importance of safety at Archer. Safety is a core value of the company, and it's in our DNA to conduct all operations at the highest level of care and diligence. From the way we design, to the way we test, to the way we manufacture, and everything in between, safety is always number one. I will now pass it over to Adam for a more fulsome update on our Q4 and full year 2021 results.