Joby Aviation, Inc. Q1 FY2025 earnings call

• Certification progress: Beat last quarter's record, with 12 percentage points acceleration on the FAA side and Joby side at 62% complete.
• Production: Fifth aircraft rolled off pilot production line, had busiest flight test quarter with five aircraft and two full flight test crews, up to eight flights per day.
• Partnerships: Announced partnership with Virgin Atlantic for UK air taxi service, working with key partners like Delta, Uber, Toyota, ANA.
• CFO appointment: Rodrigo Brumana to join as CFO later this month, with aviation background and experience in global finance operations.
• Manufacturing: Expanded facility in Marina nearing completion, Ohio facility coming along with retrofits and tooling installation.

Not applicable as no detailed product segment financial performance with revenue contribution % provided

• 2025 use of cash, cash equivalents, and short-term investments expected to be between $500 million and $540 million.
• Preparing for commercial operations with new facilities and full motion flight simulator to be received later this year.

• Forward-looking statements involve risks and uncertainties, refer to SEC filings.
• Trade policy potential impact, but no immediate impact seen.

Q: What is the timing of the full-scale aircraft with all fully conforming parts?

A: JB mentioned they have multiple FAA conforming aircraft moving through production, on track to have them in the air later this year for TIA flight testing.

Q: What are the flight test goals for this year including Dubai?

A: Preparing to send aircraft to Dubai for hot weather testing, running flight test operations at home for TIA flights with FAA, and full motion flight simulator to be received later this year.

Q: Benefits of having FAA pilots in simulators sooner?

A: FAA pilots fly test points in simulators and then in aircraft, pleased with FAA flight test team's lean-in.

Q: Tariffs impact?

A: Vertical integration allows flexible supplier set, no short-term impact, positioned well to respond to tariff changes.

Q: Commercialization and FAA certification?

A: Remain on track, preparing for service launch in Dubai early next year, working with GCAA for passenger flights.

Q: Paths to market?

A: Direct sales for defense/business, working with partners for non-US operations, direct consumer service with partners like Virgin.

Q: Vertiport costs?

A: Cost varies from hundreds of thousands to millions of dollars depending on scale.