Joby Aviation, Inc. Q1 FY2026 earnings call

Joe Bennett mentioned the selection of states for the White House-backed EIPP program, progress in various states like New York, Texas, Florida, etc., with demonstrations including landing at major airports and operating in Class B airspace. Rodrigo Brumana discussed Q1 financial results with $24M revenue mostly from Blade, $2.5B cash balance, Q1 net loss of $110M, operating expenses of $258M, and adjusted EBITDA loss of $179M.

Full-year revenue guidance of $105 to $115 million; Q1 puts us on a solid trajectory for it. Q1 cash use excluding one-time purchase was $163M, with total property and equipment investment ~$78M. Adjusted EBITDA loss in Q1 was $179M compared to $154M in Q4.

Q: Christine of Morgan Stanley asked about customer conversations and potential order materialization.

A: Joe and Paul discussed customer excitement, aircraft sales demand in international markets, infrastructure opportunities.

Q: James Kirby of J.P. Morgan asked about sequencing initial aircraft for EIPP.

A: It's about infrastructure and existing infrastructure/customer base in places like New York.

Q: Andre Shepard of Canterford Shield asked about EIPP program starting and ramping.

A: Agreements start being signed in Q3, operations in back half of year.

Q: Research of Raymond James asked about full credit testing of aircraft.

A: Need conforming test articles built, tested, reports written; Joby pilots testing, FAA pilots training in simulator.

Q: Chris Pierce of Needham and Company asked about manufacturing bottlenecks.

A: Working on supply chain, ramping manufacturing, flight simulator for pilot training.

Q: Austin Moeller of Canaccord Genuity asked about Ohio production timeline.

A: Team in Ohio ramping well, adding components, building larger facility.

Q: Ahmed Dayal of HC Wainwright asked about passenger flights.

A: Expect passenger flights later this year in Dubai and EIPP markets. Also, Reddit community questions about conforming aircraft production and BIPP lessons.