Joby Aviation (NYSE:JOBY) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Key Points

• Joby beat quarterly estimates: It reported a loss of $0.22 per share, versus the expected $0.25 loss, and revenue of $55.09 million, above the $38.95 million consensus and up 143.8% year over year.
• Certification and operations advanced: Joby said it has entered the FAA’s final certification stage, improved manufacturing output and quality, and raised 2026 revenue guidance to $135 million–$140 million.
• Losses and cash needs remain substantial: Joby used $195 million in cash during the quarter and reported a $208 million adjusted EBITDA loss; commercialization still depends on completing certification and funding continued operations.

Joby Aviation (NYSE:JOBY - Get Free Report) posted its quarterly earnings data on Wednesday. The company reported ($0.22) EPS for the quarter, topping analysts' consensus estimates of ($0.25) by $0.03, FiscalAI reports. The company had revenue of $55.09 million for the quarter, compared to the consensus estimate of $38.95 million. Joby Aviation had a negative return on equity of 55.29% and a negative net margin of 755.11%. The company's quarterly revenue was up 143.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.48) EPS.

Here are the key takeaways from Joby Aviation's conference call:

• Certification advanced to its final stage: Joby completed multiple FAA “for-credit” tests and expects FAA pilot training and company flight testing in the first half of 2027, ahead of TIA flight testing. Management said eIPP commercial passenger flights would be tied to substantial TIA testing.
• Manufacturing output and quality improved: From Q1 to Q3, output across eight core shops rose 37% while recorded non-conformances fell 38%. Joby said it has released work orders for its 18th production aircraft on the Marina line and is working with Toyota to scale production.
• Blade posted record passenger volume, lifting guidance: The business flew more than 44,000 passengers in Q3, with New York airport passengers up 61% year over year. Joby raised 2026 revenue guidance to $135 million–$140 million, while noting Blade’s seasonal Q4 slowdown and potential weather impacts.
• Cash burn and losses remain significant: Joby ended Q3 with about $2.2 billion in cash and short-term investments, but used $195 million during the quarter, reported a $208 million adjusted EBITDA loss, and raised $128 million through its ATM equity program. The company expects second-half cash use of $385 million–$415 million.
• Joby is expanding its defense business: New Air Force contracts bring autonomy contract value to about $37 million, and the planned Resonant Sciences acquisition would add a growing, EBITDA-positive defense business. The deal remains subject to closing conditions and is expected to require $450 million in cash consideration.

Joby Aviation Trading Up 4.3%

Shares of JOBY traded up $0.21 during trading hours on Wednesday, hitting $5.06. 23,820,918 shares of the company were exchanged, compared to its average volume of 20,730,136. The company has a debt-to-equity ratio of 0.40, a quick ratio of 17.98 and a current ratio of 17.98. The firm has a fifty day simple moving average of $5.79 and a 200-day simple moving average of $8.54. Joby Aviation has a one year low of $4.43 and a one year high of $17.10.

Wall Street Analyst Weigh In

JOBY has been the topic of several research reports. Wall Street Zen cut shares of Joby Aviation from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 8th. HC Wainwright reissued a "buy" rating and issued a $18.00 price target on shares of Joby Aviation in a report on Monday, September 21st. Morgan Stanley reduced their price objective on shares of Joby Aviation from $13.00 to $10.00 and set an "equal weight" rating for the company in a research report on Friday, October 16th. Needham & Company LLC lowered their price objective on shares of Joby Aviation from $18.00 to $15.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. Finally, Barclays initiated coverage on shares of Joby Aviation in a research note on Friday, October 9th. They issued an "underweight" rating and a $4.00 price objective on the stock. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Reduce" and an average target price of $12.39.

Key Headlines Impacting Joby Aviation

Here are the key news stories impacting Joby Aviation this week:

• Positive Sentiment: Joby reported third-quarter revenue of $55.09 million, above analyst expectations of $38.95 million, and a loss per share of $0.22, narrower than the expected $0.25 loss. Coverage also noted the company raised its sales forecast. Joby Reports Third Quarter 2026 Financial Results
• Positive Sentiment: The U.S. Air Force committed nearly $37 million to Joby’s autonomous-flight technology, with the contract ceiling raised to $50 million. The funding adds defense-related work and potential revenue alongside the air-taxi business. Joby expands Air Force contracts
• Positive Sentiment: Joby reportedly entered the FAA’s final certification stage, with “for credit” testing underway. This is a meaningful step toward commercial service, although certification is not yet complete. Joby reaches FAA final certification stage
• Positive Sentiment: The company completed initial flights in Texas and Florida, including piloted Florida flights under a federal pilot program, advancing flight demonstrations and integration planning. Joby begins piloted Florida flights
• Positive Sentiment: Joby’s acquisition of Resonant Sciences is intended to keep classified defense work separate from its commercial air-taxi effort, potentially broadening its defense business. Joby acquires Resonant Sciences
• Negative Sentiment: Despite the earnings beat, Joby remains loss-making. Its longer-term outlook depends on completing certification and funding the business through commercialization, risks highlighted in earnings coverage. Joby earnings and remaining hurdles
• Neutral Sentiment: A director sold 62,500 shares under a pre-arranged Rule 10b5-1 plan, a relatively small reduction compared with his remaining holding. Director share sale

Insiders Place Their Bets

In related news, insider Eric Allison sold 27,593 shares of Joby Aviation stock in a transaction dated Tuesday, October 13th. The stock was sold at an average price of $5.09, for a total value of $140,448.37. Following the transaction, the insider owned 745,120 shares of the company's stock, valued at approximately $3,792,660.80. This trade represents a 3.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Paul Sciarra sold 62,500 shares of the business's stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $6.09, for a total value of $380,625.00. Following the sale, the director owned 55,640,557 shares in the company, valued at approximately $338,850,992.13. The trade was a 0.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 1,017,628 shares of company stock worth $6,340,090. Corporate insiders own 20.35% of the company's stock.

Joby Aviation Company Profile

Joby Aviation, Inc is an aerospace company developing all-electric vertical takeoff and landing (eVTOL) aircraft for commercial passenger transportation. Its aircraft are designed to take off and land vertically like a helicopter while operating with the range and speed of a conventional aircraft, supporting quiet, low-emission air taxi services and other urban and regional transportation applications.

Founded in 2009 by JoeBen Bevirt, Joby is pursuing the certification, production and commercial deployment of its piloted aircraft.

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