Joby Aviation, Inc. JOBY
We have spent more than a decade designing and testing a piloted, all-electric, vertical take-off and landing ("eVTOL") air taxi which we intend to operate in cities around the world. We intend to operate air taxi services both directly and through strategic partnerships, while also pursuing aircraft sales to distributors and expanding into defense and other specialized markets. Our mission is to help the world connect faster and more easily with the people and places that matter most by delivering a new form of clean, fast, quiet and convenient aerial transportation service. The Joby eVTOL is being designed to transport a pilot and up to four passengers - or a targeted payload of up to 1,000 pounds - at speeds of up to 200 mph. The aircraft is optimized for urban routes, with a target range of up to 100 miles on a single charge. According to our modeling, more than 99% of urban routes in cities such as New York City and Los Angeles are significantly shorter than this, enabling higher utilization through faster turnaround times of our aircraft. By combining the freedom of air travel with the efficiency of our aircraft, we expect to deliver journeys that are up to 10 times faster than driving, and it is our goal to steadily drive down end-user pricing in the years following commercial launch to make the service widely accessible.
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- United States
- Japan
- Europe
- Other
| Region | FY2025 |
|---|---|
| United States | $35.8M |
| Japan | $8.1M |
| Europe | $6.8M |
| Other | $2.8M |
As the company reported it, from the “Segment Reporting - Schedule of Geographic Information (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $53.4M | $136.0K | $1.0M | $0 | $0 | — | — |
| R&D | $581.1M | $477.2M | $367.0M | $296.3M | $197.6M | $108.7M | — |
| SG&A | $162.6M | $119.7M | $105.9M | $95.9M | $61.5M | $23.5M | — |
| Total operating expenses | $773.0M | $596.9M | $473.1M | $392.2M | $259.1M | $132.2M | — |
| Operating income | -$719.6M | -$596.8M | -$472.1M | -$392.2M | -$259.1M | -$132.2M | — |
| Interest expense | — | — | — | $118.0K | $2.4M | $249.0K | — |
| Pre-tax income | -$928.5M | -$607.9M | -$512.9M | -$258.0M | -$190.9M | -$114.1M | — |
| Income tax | $1.3M | $129.0K | $139.0K | $92.0K | $10.5M | $31.0K | — |
| Net income | -$929.8M | -$608.0M | -$513.0M | -$258.0M | -$180.3M | -$114.2M | — |
| EPS, basic | -1.13 | -0.87 | -0.79 | -0.44 | -0.61 | -1.10 | — |
| EPS, diluted | -1.13 | -0.87 | -0.79 | -0.44 | -0.61 | -1.10 | — |
| Shares, diluted (wtd. avg.) | 826.2M | 699.8M | 647.9M | 585.5M | 294.9M | 103.9M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $240.8M | $199.6M | $204.0M | $150.1M | $956.3M | $78.0M | $507.9M |
| Short-term investments | $1.17B | $733.2M | $828.2M | $910.7M | $343.2M | $368.6M | — |
| Total current assets | $1.45B | $969.6M | $1.06B | $1.08B | $1.32B | $451.2M | — |
| Property, plant and equipment | — | — | — | $92.1M | $53.2M | $34.1M | — |
| Goodwill | $89.4M | $14.3M | $14.0M | $14.0M | $10.8M | $0 | — |
| Other intangibles | $18.9M | $8.1M | $6.6M | $12.6M | $14.5M | $0 | — |
| Total assets | $1.80B | $1.20B | $1.27B | $1.29B | $1.49B | $497.3M | — |
| Accounts payable | $3.6M | $4.3M | $3.0M | $7.7M | $3.6M | $4.9M | — |
| Total current liabilities | $60.0M | $48.1M | $45.1M | $30.2M | $13.8M | $8.0M | — |
| Total liabilities | $385.4M | $291.1M | $235.1M | $128.2M | $171.6M | $12.1M | — |
| Retained earnings | -$2.79B | -$1.86B | -$1.25B | -$734.7M | -$476.6M | -$296.3M | — |
| Total equity | $1.41B | $912.4M | $1.03B | $1.16B | $1.32B | -$283.2M | -$177.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$509.9M | -$436.3M | -$313.8M | -$235.9M | -$195.7M | -$105.9M | — |
| Depreciation and amortisation | $40.2M | $35.6M | $30.5M | $24.0M | $15.9M | $7.4M | — |
| Stock-based compensation | $127.9M | $104.4M | $93.6M | $69.1M | $26.9M | $7.2M | — |
| Capital expenditure | $53.9M | $40.6M | $30.6M | $54.9M | $32.3M | $23.7M | — |
| Investing cash flow | -$475.4M | $70.8M | $80.3M | -$630.8M | -$18.7M | -$393.2M | — |
| Financing cash flow | $1.03B | $361.1M | $288.2M | $60.5M | $1.09B | $69.2M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001819848-26-000313.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Revenue | — | — | $0 | $0 | $1.0M | $136.0K | $53.4M |
| Gross profit | — | — | — | — | — | — | — |
| Net income | — | -$114.2M | -$180.3M | -$258.0M | -$513.0M | -$608.0M | -$929.8M |
Recent filings and events
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Other event Item 8.01
- Material agreement signed Item 1.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Material agreement signed Item 1.01
- Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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| BETA | BETA Technologies, Inc. | $4.59B | — | 136.0% |
| ACHR | Archer Aviation Inc. | $3.01B | — | — |
| EVEX | Eve Holding, Inc. | $571.5M | — | — |
| AIRO | AIRO Group Holdings, Inc. | $149.9M | — | 4.6% |
| HOVR | New Horizon Aircraft Ltd. | $85.5M | — | — |
| UAVS | AgEagle Aerial Systems Inc. | $38.1M | — | -4.3% |