Joby Aviation (NYSE:JOBY) Issues Quarterly Earnings Results

Joby Aviation (NYSE:JOBY) announced its earnings results on Wednesday. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 755.11% and a negative return on equity of 55.29%. The company’s revenue was up 143.8% on a year-over-year basis. During the same period 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%

JOBY stock traded up $0.21 during midday trading on Wednesday, reaching $5.06. The company had a trading volume of 23,820,918 shares, compared to its average volume of 20,730,136. Joby Aviation has a 1 year low of $4.43 and a 1 year high of $17.10. The company has a quick ratio of 17.98, a current ratio of 17.98 and a debt-to-equity ratio of 0.40. The company has a 50 day moving average of $5.79 and a two-hundred day moving average of $8.54.

Analysts Set New Price Targets

Several research analysts recently weighed in on JOBY shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Joby Aviation in a research report on Monday, October 12th. Wall Street Zen downgraded Joby Aviation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Susquehanna set a $18.00 price objective on Joby Aviation in a research report on Thursday, August 6th. Morgan Stanley lowered their target price on Joby Aviation from $13.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Friday, October 16th. Finally, Needham & Company LLC lowered their target price on Joby Aviation from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus 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

Insider Activity at Joby Aviation

In related news, CEO JoeBen Bevirt sold 15,789 shares of the stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $5.95, for a total transaction of $93,944.55. Following the completion of the sale, the chief executive officer directly owned 254,519 shares in the company, valued at approximately $1,514,388.05. This trade represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Eric Allison sold 27,593 shares of the stock in a transaction on Tuesday, October 13th. The stock was sold at an average price of $5.09, for a total value of $140,448.37. Following the sale, the insider owned 745,120 shares of the company’s stock, valued at approximately $3,792,660.80. This represents a 3.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 1,017,628 shares of company stock worth $6,340,090. 20.35% of the stock is currently owned by company insiders.

About Joby Aviation

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.