Joby Aviation, Inc.
- Open
- 7.26
- Day high
- 7.45
- Day low
- 6.89
- Prev close
- 7.34
- Volume
- 90.6M
- Mkt cap
- $7.1B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 3.6
- P/S
- 91.6
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$16.4M over the last 3 months (0 open-market buys, 23 sales)
- 🏛Institutions accumulating (13F)
Joby Aviation, Inc. (JOBY) is a Industrials company listed on NYSE. The stock is down 59% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 23 sales (SEC Form 4).
Joby Aviation, Inc. (JOBY) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 3 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
JOBY earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $-0.21 | $-0.21 | +0.0% | $24M | +20.2% |
| Feb 25, 2026 | $-0.20 | $-0.14 | +30.0% | $31M | +82.7% |
| Nov 5, 2025 | $-0.19 | $-0.26 | -35.6% | $23M | +563.7% |
| Aug 6, 2025 | $-0.18 | $-0.24 | -33.3% | $15000 | -91.7% |
| Feb 26, 2025 | $-0.19 | $-0.19 | +0.0% | $55000 | +22.9% |
| Feb 21, 2024 | $-0.19 | $-0.17 | +10.5% | $1M | +82.1% |
| Nov 1, 2023 | $-0.18 | $-0.13 | +27.8% | — | — |
| Aug 2, 2023 | $-0.14 | $-0.17 | -21.4% | — | — |
| May 3, 2023 | $-0.15 | $-0.16 | -6.7% | — | — |
| Feb 22, 2023 | $-0.18 | $-0.14 | +22.2% | — | — |
| Nov 2, 2022 | $-0.16 | $-0.16 | +0.0% | — | — |
| Aug 11, 2022 | $-0.15 | $-0.15 | +0.0% | — | — |
JOBY insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 6, 2026 | DeHoff Kateofficer: See Remarks | Sell | 9,575 | $8.92 |
| Jul 6, 2026 | Bowles Gregoryofficer: Chief Policy Officer | Option | 5,046 | — |
| Jul 6, 2026 | Simi Bonny Wofficer: President of Operations | Option | 5,699 | — |
| Jul 6, 2026 | Bowles Gregoryofficer: Chief Policy Officer | Option | 6,229 | — |
| Jul 6, 2026 | DeHoff Kateofficer: See Remarks | Option | 8,306 | — |
| Jul 6, 2026 | Saluja Dipenderdirector | Grant | 2,027 | — |
| Jul 6, 2026 | Brumana Rodrigoofficer: Chief Financial Officer | Sell | 2,601 | $8.92 |
| Jul 6, 2026 | Simi Bonny Wofficer: President of Operations | Sell | 7,832 | $8.92 |
| Jul 6, 2026 | DeHoff Kateofficer: See Remarks | Option | 5,046 | — |
| Jul 6, 2026 | Simi Bonny Wofficer: President of Operations | Option | 5,046 | — |
| Jul 6, 2026 | Bevirt JoeBendirector, officer: CEO and Chief Architect | Option | 17,659 | — |
| Jul 6, 2026 | Allison Ericofficer: Chief Product Officer | Option | 8,306 | — |
| Jul 6, 2026 | Brumana Rodrigoofficer: Chief Financial Officer | Option | 5,046 | — |
| Jul 6, 2026 | Allison Ericofficer: Chief Product Officer | Option | 5,046 | — |
| Jul 6, 2026 | Papadopoulos Didierofficer: President of Aircraft OEM | Sell | 12,939 | $8.92 |
Source: JOBY SEC Form 4 filings, latest Jul 6, 2026. For informational purposes only — not investment advice.
See the full JOBY insider & 13F page →Joby Aviation, Inc. company profile
Overview
Joby Aviation, Inc. (NYSE:JOBY) is a pioneering electric vertical takeoff and landing (eVTOL) aircraft manufacturer founded in 2009 and headquartered in Santa Cruz, California. The company went public in 2021 through a SPAC merger and represents one of the leading players in the emerging urban air mobility sector. Joby is developing electric aircraft designed to provide on-demand aerial transportation services, essentially creating an "Uber for the skies" using electric flying vehicles that can take off and land vertically like helicopters but operate more quietly and efficiently.
Business
Joby Aviation operates in the nascent urban air mobility industry, developing electric vertical takeoff and landing aircraft for commercial passenger transportation. The company's core product is an eVTOL aircraft - essentially an electric flying taxi that combines the vertical flight capabilities of a helicopter with the efficiency and environmental benefits of electric propulsion. The eVTOL aircraft represents a new category of transportation vehicle designed to address urban congestion by moving passengers through the air rather than on crowded roads. Joby's aircraft is designed to carry up to four passengers plus a pilot, with a range of approximately 150 miles and speeds up to 200 mph. Unlike traditional helicopters, eVTOL aircraft use multiple electric rotors distributed across the airframe, making them significantly quieter and more environmentally friendly. Joby's business model centers on providing aerial ridesharing services - passengers would book flights through a mobile app, similar to current ride-hailing services, but travel by air between designated landing sites called vertiports. The aircraft is designed for short urban and suburban trips, typically 20-30 miles, which could reduce travel times from hours in traffic to minutes in the air. The company operates as a single business segment focused on aircraft development, certification, and preparation for commercial operations. Currently, Joby generates minimal revenue (under $1 million annually) primarily from government contracts and partnerships, as the company remains in pre-commercial development phase.
Revenue model
Joby's business model is built around operating an aerial transportation service using its proprietary eVTOL aircraft. The company plans to generate revenue through multiple channels: direct passenger transportation services (similar to Uber), partnerships with existing transportation companies, and potentially aircraft sales to other operators. The primary revenue model will be transportation service fees charged to passengers who book flights through Joby's platform. The company is developing its own operating system called ElevateOS, which includes rider apps, flight planning tools, and pilot interfaces to manage the entire customer experience. Passengers will pay per trip, with pricing expected to be competitive with premium ground transportation options while offering significant time savings. Joby also plans to generate revenue through partnerships with established companies like Delta Air Lines and Uber, which will integrate Joby's services into their existing transportation networks. These partnerships could involve revenue sharing arrangements where Joby provides the aircraft and operations while partners provide customer access and booking integration. Several factors will significantly impact Joby's margins and profitability. Regulatory approval represents the most critical factor - the company must obtain FAA certification before beginning commercial operations, a process that has proven lengthy and expensive. Battery technology costs and performance will directly affect operating economics, as battery degradation and replacement costs impact long-term profitability. Utilization rates will be crucial since aircraft represent significant capital investments that must fly frequently to generate adequate returns. Infrastructure development costs for vertiports and charging stations will require substantial investment, though Joby is partnering with real estate developers and governments to share these expenses. Competition from other eVTOL companies and potential disruption from autonomous vehicle technology could pressure pricing and market share over time.
Competitive moat
Joby's competitive moat appears moderately strong in the near term but faces significant long-term challenges. The company's primary advantages stem from its first-mover position in eVTOL certification and commercialization. Joby is currently the furthest along in the FAA certification process among eVTOL companies, having completed Stage 3 and progressing through Stage 4 of type certification. This regulatory head start could provide 12-24 months of market exclusivity in key markets. The company has built valuable strategic partnerships with established players including Toyota (which has invested $500 million), Delta Air Lines, and Uber. These relationships provide not only capital but also operational expertise, customer access, and credibility that would be difficult for competitors to replicate quickly. Joby's exclusive six-year agreement to provide air taxi services in Dubai represents a significant early market capture. Joby's vertical integration strategy and manufacturing capabilities provide some defensive positioning. The company is developing in-house manufacturing facilities and has achieved production rates of approximately one aircraft per month, with plans to scale significantly. This manufacturing expertise and capacity could create barriers for competitors who lack similar production capabilities. However, Joby's moat faces substantial threats. The technology itself is not particularly proprietary - multiple well-funded competitors including Lilium, Archer, and others are developing similar eVTOL aircraft with comparable capabilities. Large aerospace companies like Boeing and Airbus could enter the market with superior resources and manufacturing scale. The regulatory approval process, while currently favoring Joby, will eventually be navigated by competitors, eroding the first-mover advantage. Additionally, the business model relies heavily on network effects and operational scale that have not yet been proven, and established transportation companies could potentially develop competitive services once the technology matures.
Risks & safety
Joby presents a mixed margin of safety profile with strong liquidity but significant execution risks and uncertain valuation metrics. **Cash Position and Solvency:** • Strong cash position with $813 million in cash and short-term investments as of Q1 2025 • Additional $500 million expected from Toyota investment provides substantial runway • Current cash burn rate of approximately $500-540 million annually • Estimated 2+ years of operating runway at current burn rates • Minimal debt with debt-to-equity ratio of only 0.037 • Excellent current ratio of 17.7x indicates strong short-term liquidity **Valuation Metrics:** • No meaningful P/E ratio due to pre-revenue status and significant losses • Price-to-book ratio of 5.37x appears elevated for a development-stage company • Enterprise value metrics are distorted by negative EBITDA • Market capitalization of ~$6.4 billion for a pre-revenue company suggests high expectations **Other Considerations:** • Binary regulatory risk - FAA certification failure could severely impact valuation • Unproven commercial market with uncertain demand and pricing • Technology and operational risks in scaling manufacturing and service operations • Significant dilution risk from future equity financing needs
Recent development
Over the past several years, Joby has made substantial progress toward commercializing its eVTOL aircraft and aerial transportation service. The company's most significant achievement has been advancing through the FAA certification process, becoming the first eVTOL company to complete Stage 3 and now progressing through Stage 4, with 62% completion as of Q1 2025. This regulatory progress represents years of technical work and positions Joby ahead of competitors. Joby has significantly expanded its manufacturing capabilities, developing production facilities in Marina, California, and Dayton, Ohio. The company has achieved a production rate of approximately one aircraft per month and has built five aircraft for its test fleet. Manufacturing improvements have included achieving 95% conforming composite parts and implementing processes that improved final integration efficiency by 30%. The company has secured major strategic partnerships and funding, most notably Toyota's $500 million investment commitment and operational partnership. Joby has also strengthened relationships with Delta Air Lines for integrated transportation services and maintains partnerships with Uber for ride-hailing integration. The exclusive six-year agreement with Dubai for air taxi services represents Joby's first major commercial market opportunity. Joby has expanded its technology portfolio beyond its core battery-electric aircraft. The company successfully demonstrated hydrogen-electric flight capability, achieving a 561-mile flight that showcases potential for longer-range applications. The acquisition of Xwing has added autonomous flight capabilities to Joby's technology stack, potentially enabling pilotless operations in the future. International expansion efforts have accelerated, with Joby conducting demonstration flights in Japan and Korea, applying for certification in multiple countries including Australia and the UK, and working closely with international regulators. The company is preparing to deploy aircraft to Dubai for hot weather testing and expects to begin passenger operations there in late 2025 or early 2026.
JOBY company profile · for informational purposes only — not investment advice.
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