Overview
- Joby says it is more than halfway through FAA certification stage 4, with its first FAA-conforming airframe in final assembly and agency flight testing targeted for 2026.
- The company disclosed a roughly $500 million stock sale last week that extends its funding runway but dilutes existing shareholders.
- Joby remains pre-revenue and reported steep losses, including about $638 million in operating losses and roughly negative $448 million in operating cash flow over the prior year.
- The stock has swung sharply, rising more than 200% over the past year to about $17 after previously dropping nearly 80% during 2022’s risk-off period.
- Joby pursues a vertically integrated model to build its aircraft and operate air taxi services, supported by partnerships such as Delta Air Lines and Toyota and recent public demonstrations in Japan.