Joby Aviation (JOBY -0.21%) has had a dismal year on Wall Street.
How bad has it been exactly? Try a roughly 68% drop since the start of the year. Indeed, since this time last October, the stock has lost nearly 75% of its value.
$4.64-$0.01 (-0.21%)
NYSE · As of 4:00 PM ET 10/21/26
Things don't seem to be getting better for it, either. Already trading near its 52-week low, the stock continues to lose investors' confidence, even as the company gets closer to achieving its biggest milestone yet: carrying its first paying passengers.
The mismatch between Joby stock's performance and the company's progress makes it an interesting investment to consider. Indeed, for investors with a high tolerance for risk, I think this eVTOL (electric vertical takeoff and landing) company could be one of the more compelling speculative investments to make. Here's why.
In three years, Joby will likely be taxiing paying passengers
Currently, Joby is in a good position. It has shown the world that its eVTOL aircraft can fly, including demonstrations in major metropolitan areas like New York City, San Francisco, and Dallas-Fort Worth.
It is also working through the fifth and final stage of the FAA type certification, while beginning real-world flights through the White House-backed eVTOL Integration Pilot Program (eIPP). With the help of this program, Joby could put paying passengers in the air before the end of 2026.
Meanwhile, the manufacturing of eVTOLs has also been picking up. Thanks to help from its partner Toyota (TM -0.85%), Joby is targeting production of four aircraft per month in 2027. Assuming it hits those production targets, Joby could manufacture 48 aircraft annually, leaving it with a sizable fleet by 2029. And if most, or even some, of those aircraft were flying in major metropolitan areas, the visibility could bolster confidence in the company -- a one-two punch for the stock.
Image source: Joby Aviation.
So, what will Joby be worth in three years?
By October 2029, I predict Joby will have returned to the price it started at in 2026 -- about $13 a share. That could turn a $10,000 investment today into about $28,000 in three years.
The main reason behind this prediction is revenue growth. Within three years, Joby is likely going to quadruple its revenue, probably even more. Indeed, many analysts are expecting more than $400 million in annual revenue from Joby in two years, as the chart below demonstrates.
Data by YCharts
What's not shown above is revenue from Joby's planned acquisition of Resonant Sciences. Over the past 12 months, Resonant Sciences has generated more than $100 million in revenue, growing about 40% year over year. If that growth continues, Resonant could become a significant source of revenue for Joby in 2029.
All in all, this year's sell-off of Joby has helped reset expectations around the stock, but I don't think it has made Joby a worse investment. As long as it can put paying passengers in the air as it plans, investors buying at today's price could be handsomely rewarded over the next three years.
What's wrong with Joby Aviation (JOBY -3.70%) stock? That's the question many investors are likely asking right now, with the stock plummeting more than 60% already in 2026. Last year, the stock was soaring, and there was plenty of optimism surrounding its future.
Today, however, investors appear to be much more cautious around the company, which hopes to one day be a leader in the electric vertical takeoff and landing (eVTOL) market. It hasn't obtained approval for its air taxi yet, but it has been making progress.
Joby's stock hit a new 52-week low on Tuesday, falling to less than $5. Given its promising growth potential, is it a no-brainer buy at this price point?
Image source: Getty Images.
Have investors gotten frustrated?Joby has been nearing FAA certification for its air taxi, but investors have been left waiting. Earlier this year, the company announced it had been selected as a partner for the White House's eVTOL Integration Pilot Program (eIPP), which the company hoped may have "the potential to significantly accelerate Joby's path to commercial service."
When the company released its most recent quarterly results in August, it stated it was in the final stage of FAA Type Certification. Despite all the test flights and progress, investors may be discouraged that the company has not yet launched commercial operations at this point. It has been demonstrating the effectiveness of its air taxis with test flights, but alas, investors may be eagerly awaiting the green light for when commercial operations actually commence.
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Could Joby's stock take off before the end of 2026?Joby's stock is now trading around multi-year lows, levels it has been at since 2024. At a market cap of around $5 billion, it could make for an intriguing investment right now, given the potential for it to soar if its aircraft obtains approval from regulators, hopefully before the end of the year -- but that's by no means a guarantee.
Its inclusion in the eIPP should, however, give investors reason for some cautious optimism that Joby will inevitably commence operations. While there's no certainty as to when that might happen, once it does, the excitement around the stock could return, potentially making Joby a hot buy again.
Unfortunately, there's still a lot of risk with Joby's stock, because while it may have some enticing growth opportunities ahead, even if it does commence commercial operations, it may still be a long time before it has a path to profitability and is generating significant revenue.
For investors who are willing to be patient and who are comfortable with the risk, it may be worth buying. But for more risk-averse investors, this may be a stock more suitable to put on a watch list.
Akcie společnosti Joby Aviation za poslední měsíc klesly o 20 % na 5,14 USD; firma v tomto období nezveřejnila žádné oznámení, které by tento pokles vysvětlovalo.
Joby Aviation has shed a fifth of its value in a single month while the broader market climbed, and the reasons point to something bigger than one company's bad stretch. Here is what the numbers reveal about whether holders should…
Joby Aviation (NYSE:JOBY | JOBY Price Prediction) stock is down 20% over the past month to $5.14. This drop leaves shareholders mulling whether to stay with the electric air taxi developer.
Meanwhile, Archer Aviation (NYSE:ACHR) stock is down 16% over the past month to $4.61, representing a smaller decline than Joby stock’s. Additionally, EHang Holdings (NASDAQ:EH) stock is down 12% over the past month to $4.03, a lighter drop than Joby’s as well.
For a broader read, the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is up 2% over the past month to $777.80. The ARK Autonomous Technology & Robotics ETF (BATS:ARKQ), which holds both Joby and Archer Aviation, is down 0.2% over the same stretch to $121.80. That split frames the question for Joby holders: the selling has concentrated in one narrow industry group while the broad market climbed.
Air Taxi Names Fell Together
All three electric air taxi stocks fell over the past month while the S&P 500 fund rose, a pattern that points to selling across one group of companies. Joby has issued no announcement in the past month that explains the decline. Its most recent major update came on its August 5 call covering the second quarter of 2026, when CFO Rodrigo Brumana reported revenue of $39 million, drawn primarily from the Blade passenger helicopter business, as the company raised its full-year sales guidance.
On the same call, Brumana said Joby ended the quarter with approximately $2.3 billion in cash, cash equivalents and short-term investments. Brumana also reported a net loss of $245 million under generally accepted accounting principles and guided to second-half cash use of $385 million to $415 million. Those results precede the past-month window, so they frame Joby’s finances without accounting for the recent selling.
What the Peer Group Says About Joby
Joby is building an electric aircraft that takes off vertically, and it needs regulatory certification before it can carry paying passengers, but until then, almost all of Joby’s current revenue comes from Blade, the conventional helicopter business it acquired.
Skeptics start with the spending guidance, which points to heavy outlays through the rest of the year while the revenue that matters still sits ahead of certification. A company funding a long timeline is exposed every time risk appetite contracts. JoeBen Bevirt, Joby’s founder and chief executive at the time of the call, acknowledged the execution challenge, stating, “As we’ve said before, manufacturing is hard.”
Supporters of Joby stock point to a cash position that’s large relative to the company’s size, and they also note that the helicopter business already produces revenue while the aircraft moves through certification. Brumana added that Joby can “stage a portion of that spend to match our progress, keeping our usual capital discipline.”
What to Watch Next
Joby’s next test is whether certification milestones arrive on the timetable management has described. Traders may want to check for whether second-half cash use lands inside the guided range. Either result could reset how the market prices Joby’s long timeline.
A stock tied to a certification calendar can swing sharply in both directions, and Joby’s past month shows the downside of that profile in plain terms. It makes sense to keep one’s positions modest enough that further volatility in the air taxi group wouldn’t force a rushed decision (we wrote a free guide on sizing speculative positions with rules that keep them from hurting, here: Small Stakes, Big Swings).
Contact [email protected] for any questions or corrections.
Joby Aviation očekává, že do konce roku 2026 zahájí přepravu cestujících letouny eVTOL, zatím však nemá od FAA typovou certifikaci pro komerční provoz.
If I were to pick one growth stock with the potential to mint new millionaires, Joby Aviation (JOBY -2.76%) would come to mind first.
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In a nutshell, Joby is manufacturing electric vertical takeoff and landing (eVTOL) aircraft. For years, these aircraft have existed only in experimental contexts. But with help from the White House, eVTOLs are beginning to enter real-world operations. Indeed, Joby has demonstrated these aircraft in California, New York, and, most recently, Texas, and it expects to carry its first passengers by the end of 2026.
Image source: Joby Aviation.
The market opportunity for Joby's eVTOLs is huge. If Joby operated thousands of these aircraft across major cities, it could generate billions in annual revenue.
Joby currently trades at a little less than $6 per share and has a roughly $5 billion market cap. If Joby were to grow to the size of Uber today (about $140 billion), its value would increase about 28-fold. Assuming no major dilution, that could put Joby at about $165 a share.
Under those assumptions, an investment of roughly $36,000 today could grow into $1 million.
Still, risks remain. Joby doesn't have the FAA type certification to fly passengers commercially, nor has it manufactured a major fleet of eVTOLs. As such, the stock is a high-risk, high-reward bet on an industry that doesn't exist yet. Only investors who can stomach major volatility should consider buying today.
Steven Porrello has positions in Joby Aviation. The Motley Fool recommends Uber Technologies. The Motley Fool has a disclosure policy.
Joby Aviation autonomně přeletěla 3 199 mil z Kalifornie do Severní Karolíny bez zásahu pilota, ale ve druhém čtvrtletí vykázala čistou ztrátu 245,4 milionu USD.
Joby Aviation (JOBY -5.39%) just accomplished something pretty spectacular. An aircraft equipped with Joby's autonomous flight technology traveled 3,199 miles across the United States without a human pilot touching the controls.
The converted Cessna Caravan taxied, took off, navigated across the country, avoided bad weather, and landed autonomously. To clarify, a safety pilot was onboard, but Joby says that the pilot made zero control inputs during the entire journey. That's a big deal.
The aircraft wasn't just circling a controlled test facility, either. It traveled from California to North Carolina, operated at multiple airports, navigated real-world airspace, and was remotely supervised from locations as far as 2,323 miles away. Joby says it's the first autonomous flight across the United States.
Wall Street's response? Joby stock actually fell about 1% on Sept. 18, the day the company announced the achievement.
Why this flight actually matters Most investors know Joby for its electric vertical take-off and landing (eVTOL) air taxi. But the company is actively building another business around autonomous aviation. Joby's technology can be integrated into different aircraft and used for cargo transport, medical deliveries, disaster response, and military logistics. In fact, Joby's autonomous system has already accumulated more than 800 automated flight hours across 400 flights and participated in major U.S. military exercises.
Image source: Getty Images.
In one Air Force exercise, Joby's autonomous aircraft delivered critical replacement parts that allowed other aircraft to return to service roughly 24 hours sooner than conventional logistics would have allowed. The company also acquired autonomy technology through its 2024 purchase of Xwing's autonomy division and has since expanded its defense ambitions.
So why didn't the stock take off? Joby still has much bigger questions to answer. The company is spending heavily as it works toward Federal Aviation Administration (FAA) certification and commercial production of its electric air taxi. In the second quarter, Joby reported $38.6 million in revenue, but a $245.4 million net loss. It used $202 million of cash, cash equivalents, and short-term investments during the quarter.
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The good news is that Joby ended June with about $2.3 billion in cash and short-term investments, giving it substantial financial firepower to keep developing its technology. But the market isn't valuing Joby based on whether an autonomous Cessna can fly across America. It's waiting to see whether Joby can turn its technology into a large commercial business.
That means FAA certification. It means manufacturing aircraft at scale. It means launching commercial air taxi operations. It also increasingly means proving there's a profitable business in autonomous aviation and defense.
The cross-country flight didn't answer those questions, but it did prove something significant: Joby's autonomous flight technology can operate thousands of miles across real-world airspace without a pilot taking control. Wall Street may have shrugged, but the technology didn't.
Akcie Joby Aviation klesly z loňského maxima 20,9 USD na 5,27 USD; investory znepokojuje možné ředění akcií a soudní verdikt ve prospěch společnosti Aerosonic ve výši téměř 116,9 milionu USD.
Sell Joby Aviation (JOBY). The stock is still trending down (lower highs/lows), below all moving averages, and a death-cross is nearing—momentum favors more downside. Fundamental pressure is real: dilution risk (shares up to ~986M) and a $116.9M Aerosonic verdict that can force cash outflows even if appealed. Even “near commercialization” doesn’t matter if investors fear capital needs before profits show up.
Key Risk: A clear, credible path to commercialization funding without dilution (e.g., large non-dilutive financing or strong contract wins that remove the capital-raise fear).
eVTOL basket short
Short the eVTOL peer group via ETFs/ETNs that track the theme (e.g., short an eVTOL-focused basket or use inverse exposure where available). The article shows the sell-off is industry-wide (Ehang, Archer, Vertical, Eve, BETA all collapsing). That means JOBY-specific positives won’t stop the sector de-rating; the market is repricing the whole timeline and cash-burn risk.
Key Risk: A sector-wide catalyst that flips sentiment fast—major certification/commercial revenue milestones across multiple companies that proves the business model now.
Joby Aviation JOBY stock has continued its steep slide, erasing most of the gains it made between 2023 and August 2025, when it surged from $3.10 to $21. The shares have now dropped to a low of $5.27, and the company’s market capitalization has fallen from $15.7 billion to $5.24 billion. With Joby nearing its commercialization phase, the question is whether this sell-off will continue.
The ongoing Joby Aviation’s sell-off has coincided with that of other companies in the electric vertical takeoff and landing (eVTOL) industry. Ehang, the Chinese eVTOL giant, dropped to $4.20, its lowest level since November 2022 and 85% below its highest point last year.
Archer Aviation, its top competitor in the US, dropped to $4.86 from a high of $14.6 last year. Vertical Aerospace, Eve Holding, and BETA Technologies have all continued their freefall.
The ongoing crash is happening even as Joby nears the commercialization phase of its business, which is expected to happen later this year or early in 2027. Investors are now starting to focus on whether its revenue and profits will surge after it enters the commercialization phase.
Most importantly, there are concerns about the company’s dilution. Its outstanding shares have soared to 986.52 million, up sharply from 604 million in 2022. While it ended the quarter with over $2 billion, there is a risk that it will need to raise additional capital because its profitability will take time.
The company has also suffered a big setback after a jury in Tampa awarded Aerosonic nearly $116.9 million. According to Reuters, the jury determined that Joby owes $68 million for breaching a non-disclosure agreement and $48 million for misappropriating trade secrets regarding air data probes. Joby has disagreed with the verdict and is hoping to appeal.
On the positive side for Joby, analysts expect that its revenue growth has more room to accelerate. The average estimate among analysts is that its annual revenue for this year is $119.5 million, up by 123% from a year earlier. It will then make $219 million next year, driven by its commercialization efforts and its Blade segment.
Another potential catalyst for Joby is that it is seeking to become a big player in the defense industry through its acquisition of Resonant Sciences.
Joby Aviation stock chart | Source: TradingView
The weekly chart shows that the Joby Aviation stock has been in a strong sell-off in the past few months. It has moved from a record high of $20.9 last year to the current $5.25.
The stock has continued to have a series of lower lows and lower highs. At the same time, it has slumped below all moving averages. Worse, the Relative Strength Index (RSI) has continued falling and is nearing the oversold level of 32. It is also nearing the death cross pattern.
This means that it is still not in the oversold level, suggesting that it has more downside to go. If this happens, the stock may continue falling, with the next target to watch being at $3.21, its lowest level in December 2022.
Joby Aviation Stock Crashes to 52-Week Low After Brutal Sell-Off Summary
Despite higher quarterly revenue and a Buy rating from H.C. Wainwright, Joby Aviation faces continued investor caution over commercialization and execution risks
Joby Aviation (JOBY) shares fell nearly 8% in morning trading Friday, touching $5.3 and setting a new 52-week low as investor concerns weighed on the electric aircraft developer.
The stock has lost about 65% of its value over the past year and now trades more than 70% below its 52-week peak of $18.77. The latest decline adds to pressure on a company working to establish its position in the emerging electric vertical takeoff and landing aircraft market.
Recent business developments have offered some support. Joby reported $38.6 million in second-quarter 2026 revenue, compared with $24.2 million in the first quarter. Its Blade passenger business contributed $36.2 million, reflecting increased activity in the air mobility segment.
The company has also agreed to acquire defense technology firm Resonant Sciences for about $500 million, expanding its exposure to defense-related work. However, the stock's continued slide suggests investors remain cautious about its commercial prospects and execution risks.
H.C. Wainwright maintained a Buy rating with an $18 price target, while Cantor Fitzgerald retained a Neutral stance. Investors will be watching progress on commercialization, funding needs and the integration of the planned acquisition as Joby seeks to regain market confidence.
Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.
Joby Aviation dokončila přibližně 75 % čtvrté fáze certifikace FAA; autor očekává, že cena akcie do konce roku 2029 dosáhne 15 USD, pokud firma zahájí sériovou výrobu.
Like a toddler, Joby Aviation (JOBY -1.64%) seems to be growing up fast.
No longer is it the speculative aviation stock of yesterday, the company with big ambitions but zero revenue and nothing to its name but an experimental aircraft. There are still unknowns to be solved -- how to scale its business while keeping costs under control -- but if last month's flight demonstrations in Texas showed us anything, it's that Joby is getting very close to turning its air taxi dreams into a commercial operation.
Where, then, will Joby Aviation be in three years? And how much will a $5,000 investment today be worth by then?
Image source: Joby Aviation.
What I expect from Joby over the next three years In a nutshell, Joby wants to commercialize a passenger electric vertical takeoff and landing (eVTOL) aircraft. Although it does not have regulatory approval to fly paying customers in an eVTOL, I believe it will in three years.
Indeed, Joby is already farther along in the five-stage FAA certification process than most people think. It has completed about 75% of the fourth stage, and it is now making steady progress through the fifth and final stage. In September, it began flight demonstrations in Texas for the White House-backed eVTOL Integration Pilot Program (eIPP). While Joby hasn't given a firm date for when it expects to receive this much-needed certification, I think it's reasonable to expect it will clear this hurdle well before the end of 2029.
Not only that, but I also expect Joby to produce more aircraft in that year. Right now, Joby's goal is to have the manufacturing capacity to produce four aircraft monthly in 2027. With help from its manufacturing partner, Toyota Motor, I think Joby will have the capacity to support even more aircraft by 2029.
Finally, I believe Joby's revenue will be significantly higher than today. Right now, Joby's revenue comes mostly from Blade's passenger business. By 2029, however, Joby will likely have several revenue streams, including its own air taxi services and defense work through its planned acquisition of Resonant Sciences.
JOBY Revenue (TTM) data by YCharts
A $5,000 investment in Joby today will be worth this much With all that said, I strongly believe Joby will more than double by the end of 2029. More specifically, I think shares will be worth $15 by then. Doing the math, a $5,000 investment today would be worth about $13,000 in three years.
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Granted, that's a very bullish estimate, and it very much assumes Joby clears the FAA hurdle and begins manufacturing at scale. If I were to project a more bearish scenario -- say, FAA-type certification takes longer than expected, or air taxis don't catch on quickly enough -- I'd see Joby trading at a price not much higher than today's.
That is, of course, the risk of investing in Joby: Its valuation today leaves plenty of room for growth, yet success isn't guaranteed.
As such, I'd continue to approach Joby Aviation stock with caution. A small speculative position might suit aggressive investors, but don't feel as if you have to buy this one yet if you're not comfortable with volatility.
Joby Aviation sits a few cents above its 52-week low while the business quietly beats revenue estimates and a White House-backed pilot program reshapes the demand picture. The catch hiding inside that 91% upside could determine whether early buyers are…
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Our 24/7 Wall St. price target for Joby Aviation (NYSE:JOBY | JOBY Price Prediction) is $11.38 over the next 12 months. The current price is $5.96.
Metric Value Current Price $5.96 Price Target from 24/7 Wall St. $11.38 Upside/Downside 91.02% Recommendation BUY Confidence Level 50% Joby earns a buy rating from our model with moderate confidence. The key risk is cash, as Joby spends hundreds of millions every half year while waiting FAA type certification. The upside depends on reaching milestones before needing another capital raise.
Joby Shares Have Lost More Than Half Their Value in 2026 Joby fell 5.87% over the past week and 11.36% over the past month. It is down 55.08% year to date. The stock sits just above its 52-week low of $5.93 and far below its high of $19.98.
The business is outpacing the stock, with Q2 revenue of $38.64M beat the $30.38M estimate. Blade drove the beat, with seats flown up 50%+. GAAP EPS of -$0.25 missed expectations of -$0.2345. Full-year revenue guidance was raised to $115M-$125M, and the company aims to carry first passengers in 2026.
Why Bulls See $14.56 Within Reach The bull scenario reaches $14.56 within a year. The main driver is eIPP, the White House-backed eVTOL pilot program. The CFO said it allows Joby “monetize every single aircraft that comes off our production for the foreseeable future.” Certification is progressing:
Stage 3 plans are 83% complete on Joby’s side. The first FAA-conforming aircraft is flying. 12 more aircraft are in production. Toyota (NYSE:TM) plans a $250 million direct investment, expected to close later this year or early next. A planned launch in Dubai brings an international catalyst. Joby carries one Strong Buy and two Buy ratings.
Cash Burn and Dilution Could Cap Gains The bear case of $8.52 still sits above today’s price. Joby used $365 million in H1 and guided to $385 to $415 million for H2. Share count rose from 894.6 million at end-2025 to 969.9 million by June. Stage 4 testing is 20% complete on Joby’s side and 10% on the FAA’s.
Joby ended Q2 with $2.3 billion in cash and short-term investments. Non-cash revaluations distort GAAP losses, including a $106M gain in Q1. Much spending goes to the Ohio plant and production increase.
Joby Commands a Premium to Archer but Trails Textron Archer Aviation (NYSE:ACHR) is Joby’s main eVTOL rival under eIPP. Archer posted $5 million in Q2 revenue and $1.56 billion in liquidity. Joby’s larger revenue and cash buffer support its premium valuation.
Textron (NYSE:TXT) shows what a profitable aircraft manufacturer is worth. Textron guides to adjusted EPS of $6.40 to $6.60 for 2026. Joby’s valuation already prices in years of future scale.
Company Market Cap Q2 2026 Revenue Joby $5.94B $38.64M Archer $3.73B $5M Textron $13.27B $3.827B Milestones Make the 91% Upside Credible My 24/7 Wall St. price target is $11.38, with a buy rating at 50% confidence. Joby has enough cash to reach its next milestones. Watch for eIPP flights in Texas advancing to carrying passengers and Toyota’s investment closing on time.
Risks to monitor include a Stage 4 stall or another dilutive raise before certification. At this price, the model’s bear case of $8.52 still sits above the current share price.
These are the year-end values from our base-case model.
Year Price Target from 24/7 Wall St. 2026 $6.63 2027 $12.80 2028 $18.21 2029 $24.38 2030 $32.47 These projections assume Joby continues executing its current strategy. Delays in certification or more dilution could drove results well below these levels.
Contact [email protected] for any questions or corrections.
Joby Aviation v Texasu zahájila demonstrační lety v rámci programu FAA eIPP a blíží se k finální certifikaci typu. Po akvizici Blade Urban Air Mobility začíná také generovat tržby.
In September, Joby Aviation's (JOBY +1.67%) flying air taxis took flight in Texas as part of the Federal Aviation Administration's Electric Infrastructure and Operations Pilot Program (eIPP), demonstrating routes over major regional infrastructure.
Joby's electric vertical take-off and landing (eVTOL) aircraft promises to change the way we travel and is inching closer to becoming widely available to the public. But is Joby Aviation stock worth investing in right now? Let's dive into the stock -- and its bull and bear cases -- to find out.
Image source: The Motley Fool.
The bull case for Joby Aviation eVTOL aircraft have become possible thanks to advances in batteries, electric motors, and other flight-enabling technologies. According to estimates from Morgan Stanley, the urban air mobility market could become a trillion-dollar industry by 2040 and be worth $9 trillion by 2050.
Joby Aviation is one of the top companies developing eVTOL aircraft and is racing toward commercial operation as it progresses through the fifth and final stage of FAA type certification. This certification determines whether its eVTOL is airworthy and is a crucial milestone for Joby to scale up and begin commercial services.
Joby is also part of the White House-backed eVTOL Integration Pilot Program (eIPP), which spans 11 states. Through eIPP oversight, operations will transition from pilot-only flights to non-paying passengers and eventually paying passengers. On Sept. 10, Joby kicked off a week of demonstration flights across the Dallas-Fort Worth region, including direct flights to major urban hubs and Dallas-Fort Worth International Airport.
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After acquiring Blade Urban Air Mobility, Joby is beginning to generate revenue. Blade provides chartered helicopter and jet flights to customers. Joby spent $125 million to acquire the company, gaining an established customer base and a decade of air-charter experience across key markets. Blade generated $36.2 million in revenue in the second quarter.
The bear case for Joby Aviation Joby has made significant progress, but must still work through the final stages of FAA type certification. Once Joby proves the airworthiness of its aircraft, it must prove it can manufacture and operate them at scale. Joby's in-house manufacturing requires more capital and labor than rival Archer Aviation's contract manufacturing approach. Joby has 12 aircraft in production but expects to deliver two in 2026.
Joby is burning substantial capital. During the second quarter, the eVTOL developer reported a net loss of $245 million, and it projects cash burn of $385 million to $415 million in the second half of this year. Since its founding, Joby has accumulated a deficit of $3.1 billion.
JOBY Revenue (TTM) data by YCharts
Even after its eVTOL aircraft are approved, commercial adoption rates remain uncertain. While eVTOLs can reduce travel times, consumer concerns could delay widespread public adoption.
Is Joby Aviation stock right for you? Joby Aviation is an early-stage company developing a new method of transportation. Last year, the stock reached nearly $20 per share, and today it is down 70% from that high. Right now, Joby is a high-risk, narrative-driven stock, as investors look for it to achieve FAA certification and begin performing more passenger flights.
If you believe in the future of flying taxis and Joby Aviation's role in it, and don't mind the extreme price swings, Joby stock could be for you. But if you do decide to buy, expect significant volatility and make sure your investment is part of a broadly diversified portfolio.
Joby Aviation zahájila demonstrační lety elektrických létajících taxi v oblasti Dallas-Fort Worth, včetně prostoru letiště DFW. Komerční provoz zatím nemá pevné datum, ale firma stále cílí na první pasažéry v roce 2026.
Joby Aviation (JOBY +0.40%) is on a roll. Or should I say ... gaining altitude?
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Puns aside, Joby kicked off its long-awaited electric air taxi demonstrations across Dallas-Fort Worth, Texas, this month, including routes into the airspace of Dallas-Fort Worth International Airport. This follows demonstrations that Joby has conducted in other major areas, namely the San Francisco Bay Area and New York City.
Image source: Joby Aviation.
These flights are not, to be sure, commercial. Joby isn't booking revenue from them.
At the same time, they serve a major purpose for the electric vertical takeoff and landing (eVTOL) industry. The Dallas-Fort Worth airport is one of the country's busiest hubs, making it an ideal testing ground for whether eVTOLs can coexist with other aircraft in a crowded sky. This, in turn, will give the Federal Aviation Administration (FAA) valuable data to help it create safety rules that eVTOL companies need to start flying paying passengers.
That said, Joby has not set a firm date for launching commercial eVTOL services. The company stated in its second-quarter shareholder letter that it continues to "target carrying our first passengers in 2026." Whether those will be paying passengers or not has not been specified. But if Joby does carry riders in 2026 -- paying or not -- it would be a clear signal that commercial eVTOL services could be near.
Steven Porrello has positions in Joby Aviation. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
JOBY uskutečnil první autonomní let napříč USA: letoun zvládl 3 199 mil bez zásahu pilota na palubě. Technologie už má za sebou více než 400 letů a 800 hodin automatizovaného letu.
Key Takeaways Joby Aviation completed a 3,199-mile autonomous U.S. flight with no onboard pilot control inputs.JOBY's aircraft handled taxiing, takeoffs, navigation and landings under remote supervision.Joby Aviation's autonomy technology is backed by more than 400 flights and 800 automated flight hours. Joby Aviation, Inc. (JOBY - Free Report) is grabbing everyone’s attention with its latest announcement related to automation aviation expansion. To this end, Joby Aviation recently announced the successful execution of its first-ever autonomous flight across the United States. The aircraft flew 3,199 miles with zero control inputs from its onboard safety pilot and concluded the eastbound leg of its month-long tour in North Carolina’s Outer Banks.
The aircraft equipped with its autonomy technology is a converted Cessna Caravan. The aircraft has carried out autonomous taxiing, takeoffs, route navigation and landings under remote supervision from JOBY’s Autonomy Headquarters in California and Shaw Air Force Base in South Carolina, up to 2,323 miles away. The journey reflected the operational capabilities of JOBY’s autonomy technology across a variety of environments while boosting applications in commercial freight, medical transport, disaster response and defense logistics.
During the cross-country journey, the aircraft proved its potential to easily integrate into high-density environments like Phoenix Deer Valley (a busy general aviation airport) while rerouting around severe weather and thunderstorms in real time with no prior airport familiarity.
As part of Joby Aviation’s 2026 Electric Skies tour, the eastbound leg featured flight demonstrations, logistics showcases and key operational milestones across the following stops, namely, Concord, CA (KCCR), Phoenix, AZ (KDVT), Fort Worth, TX (KAFW), Shaw Air Force Base, SC (KSSC) and Outer Banks, NC (KMQI). The aircraft plans to start its return westbound journey, which includes stops in Raleigh (KRDU), Fredericksburg/Washington, D.C. (KRMN), Louisville (KSDF), Wichita (KICT), Oklahoma City (KOKC), Salt Lake City (KSLC), and Portland (KPDX).
Built on the mature autonomy stack purchased from Xwing in 2024, Joby Aviation’s autonomous technology is grounded in more than 400 flights and 800 automated flight hours in controlled and uncontrolled airspace. JOBY plans to provide a scalable path to autonomous air logistics through the merger of an autonomous system onto an already-certified airframe.
JoeBen Bevirt, founder and chief executive officer of Joby Aviation, stated, “This journey across America offers a glimpse into a new era of aviation. Autonomy has an important role to play in the future of flight, allowing us to connect remote communities, deliver critical supplies, respond faster to disasters, support military operations, and keep pilots out of harm’s way.”
Zacks Rank and Stocks to ConsiderJoby Aviation carries a Zacks Rank #3 (Hold).
Investors interested in the Zacks Transportation sector may consider Seanergy Maritime Holdings (SHIP - Free Report) and Schneider National, Inc. (SNDR - Free Report) .
Seanergy Maritime Holdings currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
SHIP has an expected earnings growth rate of more than 100% for the current year. The company has an encouraging earnings surprise history. Its earnings topped the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average beat of 38%.
Schneider presently carries a Zacks Rank #2 (Buy).
Schneider has an expected earnings growth rate of 65.08% for the current year. Schneider’s earnings outpaced the Zacks Consensus Estimate in two of the trailing four quarters (missed the mark in the remaining two quarters), delivering an average miss of 10.01%. The Zacks Consensus Estimate for Schneider’s full-year earnings has moved 14.29% north in the past 60 days.
Joby Aviation je stále před certifikací, ale firma míří k zahájení komerční služby a v Dallas-Fort Worth plánuje první lety EIPP ještě tento měsíc. Tržby za 2. čtvrtletí činily 38,64 mil. USD a vedení zvýšilo výhled tržeb na fiskální rok 2026 na 115 až 125 mil. USD.
Joby Aviation has lost more than half its value over the past year, yet our model puts fair value nearly double the current price. The question is whether the certification and commercial flight timeline holds long enough to close that…
Joby Aviation is one of the most polarizing names in aerospace, and after a rough year for the stock, our proprietary model still sees meaningful upside from here.
Joby Aviation (NYSE:JOBY | JOBY Price Prediction) trades at $6.26 as of this morning, and our 24/7 Wall St. price target puts fair value materially higher over the next 12 months. The company is still burning cash and still pre-certification on its core eVTOL, but the setup into commercial flight is the most tangible it has ever been.
24/7 Wall St. Price Target Summary Metric Value Current Price $6.26 24/7 Wall St. Price Target $11.37 Upside 87.1% Recommendation BUY Confidence Level 50% Our 24/7 Wall St. price target for Joby is $11.37, implying 87.1% upside. Confidence is medium at 50%, which fits a pre-revenue eVTOL story where the outcome distribution is genuinely wide.
We rate the stock a buy, but this is a risk-on position sized accordingly (we wrote a whole free playbook on speculating with just 5% of a portfolio, here).
Down Sharply, but the Setup Is Improving JOBY is down 52.57% year-to-date and 56.49% over the past year, trading well below the $19.98 52-week high.
Q2 was actually strong operationally. Revenue came in at $38.64M vs $30.38M consensus, and management raised FY26 revenue guidance to $115M to $125M.
On the earnings call, CEO JoeBen Bevirt said Joby is “now at the point where we’re preparing for commercial service” with first EIPP flights in Dallas-Fort Worth targeted for this month. A recent Forbes piece asked whether JOBY is mispriced ahead of commercial flight, and the model agrees the gap has widened.
Bull Case: $14 and Higher If FAA certification progresses on the current arc and EIPP flights ramp on schedule, JOBY’s optionality gets repriced quickly. Stage 4 certification has moved from 6% to 20% on the Joby side, and Bevirt says “the core constraint we’re facing on many routes is now aircraft availability rather than passenger demand.”
Blade seats sold were up over 50% year-over-year in Q2. Toyota’s $250 million direct investment, the Virgin Atlantic UK partnership, and the Dubai vertiport network all support upside. Our bull-case one-year projection is $14.55.
What Could Go Wrong The bear case is straightforward. Joby’s operating margin is -1,346.92%, and H2 2026 cash use is guided to $385M to $415M. Certification timing remains uncertain, and prior capital raises ($1.2B in February, $576M in October 2025) show real dilution risk. Insider activity trends net selling.
Bulls would counter that ugly GAAP numbers include a $108M non-cash warrant/earnout revaluation, and that spending is deliberately “disciplined and milestone-driven.” Our bear-case one-year projection is $8.52, still above where the stock trades today.
How Joby Compares to Archer and Textron Archer Aviation (NYSE:ACHR) is the cleanest direct comp. Archer carries a $4.02 billion market cap versus Joby’s $6.04B, and posted just $5 million in Q2 revenue against Joby’s $38.64M (thanks to Blade). Joby’s revenue base makes our target look reasonable relative to Archer’s premium.
Textron (NYSE:TXT) is the mature aviation benchmark. Textron guides FY26 adjusted EPS of $6.40 to $6.60 on a $8 billion Aviation backlog. That contrast shows how far Joby must travel, but also how much room exists in the electric segment Textron just dissolved as a standalone unit.
Joby Aviation Price Prediction 2026-2030 The 24/7 Wall St. price target is $11.37, the recommendation is buy, and confidence is 50%. The scale-tipper is that even the model’s bear case sits above today’s price.
The bullish thesis rests on FAA Stage 4 continuing to progress and EIPP flights beginning as planned this month. The bearish thesis takes hold if certification slips into 2027 or the next capital raise arrives before revenue meaningfully scales.
Year 24/7 Wall St. Price Target 2026 $7.28 2027 $12.79 2028 $19.70 2029 $25.37 2030 $30.64 These projections assume Joby executes on certification, manufacturing ramp, and EIPP monetization. Meaningful upside or downside could come from FAA timing, hydrogen propulsion progress, or another dilutive raise.
Contact [email protected] for any questions or corrections.
Joby Aviation oznámila, že letoun s její autonomní technologií urazil více než 3 100 mil napříč USA bez zásahu pilota. Firma tím ukázala, že míří i do obrany a dalších misí mimo elektrické air taxi.
An aircraft equipped with Joby Aviation’s autonomy technology flew more than 3,100 miles across the United States without a human pilot taking control at any point, the company said Friday.
The flight not only demonstrated the capabilities of Joby’s autonomy tech, but also showed that the company’s ambitions extend well beyond its pursuit of electric air taxis. Joby said the autonomous aircraft it’s not done yet, and will make its way back to the West Coast with stops in various cities, including Louisville, Kentucky, and Salt Lake City, over the next two weeks.
Joby Aviation said the cross-country trip, which it described as the “first-ever autonomous flight across the United States,” included autonomous taxiing, takeoffs, navigation, and landings. The aircraft was remotely supervised from Joby’s headquarters in California and Shaw Air Force Base in South Carolina. A pilot was on board for compliance, but Joby said the aircraft performed the entire operation autonomously.
Joby, which used a converted Cessna Caravan aircraft for the trip, said the flight demonstrated that its autonomy technology could handle different environments and missions, including medical transport, disaster response, and defense logistics.
It also showcased the potential for a second business for Joby, which is best known for developing electric vertical takeoff and landing (eVTOL) aircraft for an eventual urban air taxi service. Joby has spent years developing and seeking type certification from the Federal Aviation Administration for its all-electric vertical take-off and landing aircraft, which will be used to carry passengers on short trips in urban areas.
While Joby’s electric air taxi service gets much of the attention, the company has a longstanding relationship with the U.S. Department of Defense and is increasingly pushing deeper into the military sector.
Its autonomy stack, which is designed to be retrofitted onto a wide range of conventional aircraft, is part of that strategy. The company plans to first bring to market a regional airframe equipped with the autonomy stack, which could be used for defense missions as well as commercial freight transport. That effort has been supported by a $17 million Air Force contract with AFWERX.
Joby took its most meaningful step into defense in August when it acquired Resonant Sciences for $500 million in cash and stock. Ohio-based Resonant Sciences, which makes radio frequency and sensor systems, is now part of a dedicated defense business within Joby that includes several projects such as the development of turbine-electric and hydrogen-electric aircraft, and an autonomy technology stack.
Last year, Joby signed an agreement with defense contractor L3Harris Technologies to “explore opportunities” to develop a new class of aircraft — specifically, a gas-turbine hybrid vertical take-off and landing aircraft that can fly autonomously — for defense applications.
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Kirsten Korosec is a reporter and editor who has covered the future of transportation from EVs and autonomous vehicles to urban air mobility and in-car tech for more than a decade. She is currently the transportation editor at TechCrunch and co-host of TechCrunch’s Equity podcast. She is also co-founder and co-host of the podcast, “The Autonocast.” She previously wrote for Fortune, The Verge, Bloomberg, MIT Technology Review and CBS Interactive.
You can contact or verify outreach from Kirsten by emailing [email protected] or via encrypted message at kkorosec.07 on Signal.
Akcie Joby Aviation letos klesly o 53,56 %, ale certifikace FAA dál postupuje a pět letadel už létá. Firma zároveň zvýšila celoroční výhled na tržby na 115 až 125 milionů USD.
Joby Aviation has lost more than half its value this year, yet five aircraft are flying, a Toyota factory deal is closing, and FAA certification keeps advancing. Whether JOBY can reach $12 in 2027 depends entirely on a single regulatory…
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Joby Aviation (NYSE:JOBY | JOBY Price Prediction) has had a punishing 2026. Shares are down 53.56% year-to-date and 56.59% over the past year, after touching the mid-teens in late 2025. Yet the underlying business has quietly matured.
CEO JoeBen Bevirt told investors on the Q2 call that Joby is “unlocking the third dimension of mobility and turning electric vertical flight from an extraordinary technology into an everyday reality.”
With five air taxis flying, a Toyota manufacturing JV, and FAA certification advancing, the setup for a rebound is here. Let’s look at what it would take for JOBY to hit $12 per share in 2027.
Wall Street Sees Meaningful Upside From Here The analyst consensus 1-year target sits at $10.68, implying 74.23% upside from the recent close of $6.13. Ratings are split: 3 buys, 5 holds, and 3 sells. The bulls point to Blade’s momentum and certification progress; the skeptics point to cash burn.
Joby also beat revenue estimates in each of the last three quarters, most recently posting $38.6 million against a $30.38 million consensus, and management raised full-year 2026 revenue guidance to between $115 million and $125 million.
Path to $12 Per Share Since Joby is pre-revenue on its core eVTOL business, price-to-sales is the right lens. On the $120 million guidance midpoint, the current $6.09 billion market cap is roughly 50x forward sales.
At $12, JOBY would trade near 100x. That looks steep, but it becomes defensible the moment the FAA signs off and the aircraft starts generating revenue.
What could push JOBY to $12?
FAA type certification progress. Stage 3 is at 83% Joby / 77% FAA and Stage 4 at 20% Joby / 10% FAA, with five conforming aircraft flying and 12 more in production. eIPP commercial launch. First eIPP flights are set for September in the Dallas-Fort Worth area, with paying passengers targeted in 2026. Toyota JV and Ohio ramp. Toyota’s $250 million direct investment is expected to close by early 2027, backing a Dayton facility built to double production from 2 to 4 aircraft per month in 2027. Blade is compounding. Q2 Blade revenue reached $36.2 million with seats flown up more than 50% year-over-year. International and defense. Dubai launch under a six-year exclusive, a Virgin Atlantic UK partnership, and a $9 billion FY26 U.S. Department of War budget request for autonomous/hybrid aircraft all widen the addressable market. Joby’s Volatility Says $12 Is in the Range A move from $6.13 to $12 would roughly double the stock. JOBY has done that repeatedly since its 2021 SPAC merger, with shares reaching $15.36 as recently as November 2025.
The stock still trades 28.72% below its price five years ago, so $12 would simply recover ground already covered during prior eVTOL enthusiasm cycles. A name this volatile belongs in the speculative sleeve of a portfolio, sized with rules (we laid out a full playbook for speculating with just 5% of a portfolio in a free guide: here).
Bottom Line: $12 Hinges on One Question The bull case for Joby comes down to whether the FAA signs off and commercial operations scale before cash gets tight. Management guided $385 million to $415 million of second-half 2026 cash use against roughly $2.3 billion in liquidity, giving Joby runway to execute.
If certification advances, eIPP passenger flights begin on schedule, and Toyota’s capital lands, $12 in 2027 becomes credible. Returns at this level shouldn’t be expected every year, but we’ve outlined the blueprint for how Joby could see outsized returns in 2027.
Contact [email protected] for any questions or corrections.
Joby Aviation je stále bez certifikovaného letounu, ale jeho Blade už přepravuje platící cestující a ve 2. čtvrtletí prodal o více než 50 % více sedadel než před rokem. Blade zároveň zvýšil celoroční výhled tržeb na 115 až 125 mil. USD.
FARNBOROUGH, ENGLAND - JULY 23: A Joby Aviation all-electric air taxi eVTOL is displayed at Farnborough International Exhibition Centre on July 22, 2026 in Farnborough, England. Farnborough International Airshow 2026 hosts leading innovators from the aerospace, aviation and defence industries. (Photo by Carl Court/Getty Images)
Getty Images
This article was written by Doug Nathman, with research by his team at Trefis.
Joby Aviation (JOBY) stock is down about 54% over the last twelve months. It now sits about 68% below its 52-week high. The company’s electric air taxi remains in the last stage of type certification. Yet the part of Joby that could re-rate the stock first is already flying paying passengers.
Who Pays Joby For Flights Right Now?Joby acquired Blade’s passenger business roughly a year ago. Blade flies paying passengers today, on New York airport runs and on expanded Hamptons routes. In the second quarter of 2026, Blade sold over 50% more seats than a year earlier. The summer ramp and major events helped, and on that measure it was the best Q2 Blade has recorded. Blade’s first-half revenue rose 32% year over year. The company then lifted its full-year 2026 revenue guidance to a range of $115 million to $125 million.
By the company’s own account, what limits many of those routes is the number of aircraft available, not a lack of passengers. Blade’s product is time saved, and it does not have enough aircraft to deliver it. Joby’s own aircraft are meant to solve that problem. And Joby is participating in FAA-sanctioned operational frameworks, such as the eIPP, to demonstrate flights ahead of full commercial type certification.
How Does Joby Plan To Carry Passengers Before It Is Certified?The route is the eIPP. That is a pilot program backed by the White House, which the FAA runs with individual states. In September 2026, Joby started a week-long campaign of flights around the Dallas-Fort Worth region, with some flights going into the airport itself. The program advances step by step: first pilots only, then passengers who do not pay, then passengers who do.
Management is evaluating potential operational and commercial pathways permissible within the eIPP framework.
Joby aims to launch operations in high-density corridors across Texas, Florida, and New York. Management sees these as large initial addressable markets.
The company says it is too early to give a revenue number. Its chief executive describes the program as an added near-term burden on his team. That leaves Joby as a flight business now and an aircraft manufacturer later.
Can Joby Produce Aircraft In Meaningful Numbers?Both the flight business and the aircraft business need one production line to grow, and that line is still small. Joby has five electric air taxis flying, one of which is its first FAA-conforming aircraft. Another 12 are at various stages of production. In the second half of 2026, it aims to roll at least two aircraft off the line. Skeptics point to the divergence between passenger demand and initial production output as a central headwind.
The line is improving. Over the first six months of 2026, the nonconformance rate in Joby’s manufacturing processes dropped by nearly 40%. This is the work that has to happen before volume can follow.
At the end of the second quarter of 2026, Joby held about $2.3 billion in cash, cash equivalents and short-term investments. It expects to spend $385 million to $415 million of that in the second half of 2026. That amount is more than three times a full year of guided revenue.
So what does this all mean?
The TakeawayThe upside case is both real and narrow. It is a bet on output, not on demand. On eight separate occasions, the stock has risen more than 30% within two months. The first came in 2021 and the latest in 2025, and every one happened before Joby had a certified aircraft.
Historically, certification milestones have served as positive catalysts for the stock, though substantial production and cash-burn risks remain.
Joby Aviation zahájila týdenní lety eVTOL v Dallasu-Fort Worth, včetně tras na letiště DFW. Nová továrna o rozloze 45 000 čtverečních stop ve Fort Worth jí dává dlouhodobou základnu v Texasu.
Key Takeaways Joby Aviation launches week-long eIPP flights across Dallas-Fort Worth, including DFW Airport routes. Real-world operations could support safety standards & integration of eVTOL aircraft into airspace. A new 45,000-square-foot Fort Worth facility gives Joby Aviation a long-term base in a key Texas market Joby Aviation’s (JOBY - Free Report) launch of eIPP flights in Texas marks an important step toward commercializing its electric air taxi technology. The week-long campaign in the Dallas-Fort Worth region demonstrates the company’s ability to operate real-world routes, including flights into DFW Airport and connections to major urban locations. Such demonstrations could help validate the practicality of electric air taxis for short-distance urban and airport transportation.
The campaign also benefits from Joby’s longstanding collaboration with the FAA and NASA on advanced air mobility. The company’s efforts to generate real-world operational data could support the development of safety standards and facilitate the integration of eVTOL aircraft into existing airspace. Successful operations in the busy North Texas airspace would further strengthen confidence in Joby’s ability to scale its commercial service.
Additionally, the new 45,000-square-foot facility at Perot Field Fort Worth Alliance Airport provides Joby with a long-term operating base in a strategically important market. Texas’ growing population, extensive transportation infrastructure and strong aviation ecosystem could create favorable conditions for the adoption of air taxi services. Direct connectivity between Alliance Airport, DFW and major business hubs also offers several potential commercial use cases.
However, Joby’s ability to capitalize on these opportunities depends on completing FAA certification and establishing the regulatory framework required for large-scale commercial operations. Continued testing and successful integration into busy airspace will therefore remain crucial. Overall, the Texas eIPP campaign represents a meaningful milestone that could accelerate Joby’s path toward commercial air taxi service and strengthen its presence in a key U.S. market.
JOBY’s Share Price PerformanceJOBY’s shares have plunged 56.2% over the past year compared with the Aerospace - Defense industry’s 11.3% decline.
Image Source: Zacks Investment Research
JOBY’s Zacks RankJOBY currently carries a Zacks Rank #3 (Hold).
Stocks to ConsiderInvestors interested in the Zacks Transportation sector may consider Expeditors International of Washington, Inc. (EXPD - Free Report) and Seanergy Maritime Holdings (SHIP - Free Report) .
EXPD currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Expeditors has an expected earnings growth rate of 28.6% for 2026. The company has an encouraging earnings surprise history. Its earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average beat of 17.15%.
Seanergy Maritime Holdings currently sports a Zacks Rank #1.
SHIP has an expected earnings growth rate of more than 100% for the current year. The company has an encouraging earnings surprise history. Its earnings topped the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average beat of 38%.
Joby Aviation rozšiřuje autonomní letové testování do 10 států; J208 má za sebou více než 400 letů, 800 automatizovaných hodin a tři cvičení americké armády. Program má ověřit provoz v různých podmínkách a posílit vazby s vládou i průmyslem.
Key Takeaways JOBY's J208 has logged 400 flights and 800 automated hours, plus three U.S. military exercises. The 10-state tour aims to test diverse environments & deepen ties with government & industry partners. eIPP participation & state partnerships offer data, airspace integration & autonomy network development Joby Aviation’s (JOBY - Free Report) cross-country tour highlights the growing maturity of its autonomous flight technology and expands its potential beyond passenger air mobility. The J208’s ability to support commercial freight, medical transport, emergency response and defense logistics provides the company with multiple avenues to monetize its autonomy platform. The month-long, 10-state tour also offers an opportunity to demonstrate the technology in diverse operating environments and strengthen relationships with government and industry partners.
The company’s proven operational track record further supports the prospects of its autonomous aircraft. The J208 has completed more than 400 flights and accumulated 800 automated flight hours while successfully participating in three U.S. military exercises. These demonstrations validate the technology’s capabilities in real-world logistics scenarios and could help build confidence among potential commercial and government customers.
Joby’s participation in the White House-backed eIPP program and partnerships with transportation agencies in Texas, North Carolina and other states represent additional positives. The initiatives provide valuable opportunities to gather operational data, demonstrate airspace integration and accelerate the development of autonomous aviation networks. The aircraft’s ability to operate under supervised autonomy, with a ground-based remote pilot serving as Pilot in Command, also provides a practical pathway toward broader deployment.
However, regulatory approvals and broader acceptance of autonomous aircraft remain key challenges. Joby’s ability to demonstrate consistent safety and reliability across increasingly complex airspace and operating conditions will be crucial for autonomous flight to achieve large-scale commercial adoption. Nevertheless, the tour represents a meaningful step in showcasing Joby’s technology and could strengthen its position in the emerging autonomous air logistics market.
JOBY’s Share Price PerformanceJOBY’s shares have declined 56.2% over the past year compared with the Aerospace - Defense industry’s 11.3% fall.
Image Source: Zacks Investment Research
JOBY’s Zacks RankJOBY currently carries a Zacks Rank #3 (Hold).
Stocks to ConsiderInvestors interested in the Zacks Transportation sector may consider Expeditors International of Washington, Inc. (EXPD - Free Report) and Seanergy Maritime Holdings (SHIP - Free Report) .
EXPD currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Expeditors has an expected earnings growth rate of 28.6% for 2026. The company has an encouraging earnings surprise history. Its earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, averaging a 17.15% beat.
Seanergy Maritime Holdings currently sports a Zacks Rank #1.
SHIP has an expected earnings growth rate of more than 100% for the current year. The company has an encouraging earnings surprise history. Its earnings topped the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average beat of 38%.
Akcie Joby Aviation klesají na nejnižší úroveň od května 2025, když se obchodují za 6,30 USD a jsou více než 70 % pod rekordním maximem 21 USD. Firma přitom čeká na certifikaci FAA ještě letos.
Joby Aviation stock remains in a freefall this week and is hovering at its lowest level since May 2025. It slipped to $6.30, down more than 70% from its high last year, with its valuation falling from over $17.4 billion to $6.2 billion today. This retreat may continue, even as the company’s commercialization nears.
Joby Aviation is one of the top companies that seeks to disrupt the transportation industry. It has spent the last 17 years working on its electric vertical takeoff and landing aircraft (eVTOL).
In this period, it has spent billions of dollars researching and working on its flights. To achieve that, it has received substantial funding from companies like Baillie Gifford and Toyota. Toyota has now become a crucial shareholder with a 14.3% stake.
The company has also raised capital through dilution. It has raised cash by selling shares in the past few years. As a result, the outstanding shares have jumped from 604 million in 2022 to 986 million today.
Most importantly, Joby has used this period to seek FAA certification, which it will receive later this year. The company has also expanded its manufacturing process and is using Toyota’s track record in the industry. It has also made some notable customer deals, including with ANA and Virgin Atlantic.
At the same time, it is now expanding its presence in the defense industry. It is doing that by spending $500 million to acquire Resonant Sciences, which will now become its defense business.
Resonant made over $100 million in revenue in the trailing twelve months and is growing by 40%. This matters because the US government plans to spend over $1.5 trillion on defense.
READ MORE: Here’s why flying car stocks like Joby and Archer Aviation falling
The company plans to start its commercial events this year, and then scale it in the foreseeable future. Taken together, its commercialization and the ongoing pivot towards the defense industry mean that it is at an inflection point.
Analysts expect that its revenue, excluding Resonant, will continue growing, with its annual revenue rising to $125 million this year and $299 million next year.
Concerns about its business remainsJoby Aviation stock has slipped in the past few months as investors remain concerned about its business. This explains why it has a short interest of about 10%, a sign that investors expect it to continue its downward trend.
One of the key concerns is that it will take a long time for the company to become profitable even when the commercialization process starts. This will see it continue raising capital, possibly through share sales. It recently announced a $750 million share sale to finance its Resonant business.
JOBY Aviation chart | Source: TradingView
The weekly chart shows that the JOBY share price has slumped in the past few years, falling from a record high of $21 to the current $6.30. It has formed a descending channel, a sign that bears remain in control.
The stock has dropped below the 78.6% Fibonacci Retracement level. It also fell below the 50-week and 100-week Exponential Moving Averages (EMA). Also, the Average Directional Index (ADX) has risen to 17.30 and is pointing upwards.
Therefore, the stock will likely continue falling, potentially to the key support level of $4.87, its lowest level in October 2024 and April last year.
Joby Aviation se propadla na nové 52týdenní minimum 6,25 USD, i když v září čeká start letů elektrického vzdušného taxi v Texasu. Výnosy za 2. čtvrtletí činily 38,6 mil. USD, z toho 36,2 mil. USD připadlo na Blade.
Shares of Joby Aviation (JOBY -1.71%) dipped to $6.25 in morning trading on Thursday -- a fresh 52-week low for the electric air taxi company. The stock recovered some ground within hours and closed Thursday at $6.31. Still, the new low caps a long slide: the stock's 52-week range now stretches from Thursday's $6.25 print to $19.98.
The timing is hard to ignore. September is the month Joby said its electric air taxi would begin flying routes across the Dallas-Fort Worth area under a White House-backed federal pilot program. The company called the flights "one of our most important steps yet toward commercial service" in its second-quarter shareholder letter.
Is the fresh low a chance to buy the stock on the cheap right before the company's biggest moment -- or is the market trying to tell investors something?
Image source: Joby Aviation.
A milestone monthTo the company's credit, Joby is closer to carrying paying passengers than it has ever been. The company is in the fifth and final stage of Federal Aviation Administration (FAA) type certification, and its August update called the quarter's progress there its strongest yet. And five electric air taxis are already flying, including the company's first FAA-conforming aircraft, with 12 more in production.
This month's Texas flights are meant to prove the concept in public. The plan calls for a week of flying across the Dallas-Fort Worth area from Sept. 10 through Sept. 15, mapping out the routes and procedures a commercial service would use. And management still aims to put its first paying passengers in the air before 2026 ends, a timeline that likely leaves little room for delay.
Blade generates nearly all the revenueWhat none of these milestones has delivered yet is air taxi revenue.
Second-quarter revenue totaled $38.6 million. Blade, the passenger air travel business Joby acquired about a year ago, accounted for $36.2 million of it. Blade is performing well. Seats flown across its passenger services rose more than 50% year over year. And on many routes, management said, aircraft availability rather than passenger demand is now the main constraint on growth. That strength (Blade's first-half revenue grew 32% from a year earlier) is behind management's raised full-year forecast. Joby now expects 2026 revenue between $115 million and $125 million. The electric aircraft itself, though, still hasn't produced any sales.
The cost of changing that keeps climbing, too. Joby's second-quarter operating loss widened to about $261 million, up from about $234 million in the previous quarter and about $168 million in the year-ago quarter. Spending, in other words, is accelerating as the company pushes toward launch.
I don't fault management for that. But it puts a lot of weight on the balance sheet.
Can the cash outlast the wait?A company can absorb a widening loss with enough cash on hand, and Joby has plenty. It held $2.3 billion in cash and short-term investments at the end of June.
However, that money already has claims on it. Management's own guidance puts second-half cash use in the $385 million to $415 million range. The pace is a step up from the first six months, when the company used about $365 million, excluding a $32 million investment in its Ohio facility.
Joby also agreed last month to buy defense technology company Resonant Sciences for about $500 million, around $450 million of it in cash, in a deal expected to close by mid-2027.
Run the numbers on the guided pace, and the cash covers a little more than two years of spending once the acquisition's cash payment goes out. That's a decent cushion, I think, but not an indefinite one for a company with a valuation near $6.3 billion. At that size, the market is paying nearly three times the value of Joby's cash for an aircraft business that isn't certified yet and a revenue base built almost entirely on Blade.
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67/100
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What would I do with the stock? I'd keep waiting on the sidelines, even at a fresh 52-week low.
The Texas flights and the final stage of certification are meaningful progress, but a milestone isn't the same thing as revenue. Until the aircraft starts producing revenue of its own, the growth stock remains a bet on execution, one the market could reprice lower on any delay.
Of course, if commercial service starts on time, today's price may end up looking cheap. But that day isn't here yet.
Joby Aviation ve 2. čtvrtletí vykázala ztrátu 25 centů na akcii, ale tržby 38,6 milionu USD překonaly odhady. Firma zároveň zvýšila celoroční výhled tržeb na 115 až 125 milionů USD.
A month has gone by since the last earnings report for Joby Aviation, Inc. (JOBY - Free Report) . Shares have lost about 16.5% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Joby Aviation, Inc. due for a breakout? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent catalysts for Joby Aviation, Inc. before we dive into how investors and analysts have reacted as of late.
JOBY Incurs Loss in Q2Joby Aviation reported a second-quarter 2026 loss of 25 cents per share, wider than the Zacks Consensus Estimate of a loss of 23 cents per share. In the year-ago quarter, JOBY reported a loss of 41 cents per share.
Quarterly revenues came in at $38.6 million, surpassing the Zacks Consensus Estimate of $29 million. Revenues were up from $15,000 in the prior-year period, with Blade contributing $36.2 million in the reported quarter amid seasonal demand and strong passenger activity.
In the June-end quarter, total operating expenses increased 78.4% year over year to $299.52 million. Research and development expenses rose 42.7% to $194.66 million, while selling, general and administrative expenses climbed 143.2% to $76.56 million as Joby invested in certification, manufacturing and commercial readiness and supported the growth of Blade.
Adjusted EBITDA in the second quarter of 2026 was a loss of approximately $197 million, compared with a loss of approximately $179 million in the first quarter. Management attributed the sequential change to the quarter's revenue and expense dynamics.
JOBY exited the second quarter with cash and cash equivalents of $629.86 million and total cash, cash equivalents and short-term investments of $2.26 billion. Long-term debt was $701.87 million at June 30, 2026.
JOBY's GuidanceThe company raised its full-year 2026 revenue outlook to a range of $115 million to $125 million from $105 million to $115 million, citing Blade's continued strength. For the second half of 2026, Joby expects to use between $385 million and $415 million of cash, cash equivalents and short-term investments.
On the operating front, Joby expects its first flights under the White House-backed eIPP program in Texas in September and continues to target carrying its first passengers in 2026. The company said five aircraft are flying and another 12 are in production, while it recorded its strongest quarterly progress yet in the fifth and final stage of FAA type certification.
How Have Estimates Been Moving Since Then?Since the earnings release, investors have witnessed a downward trend in estimates revision.
The consensus estimate has shifted -13.04% due to these changes.
VGM ScoresCurrently, Joby Aviation, Inc. has a poor Growth Score of F, a score with the same score on the momentum front. Following the exact same course, the stock was allocated a grade of F on the value side, putting it in the lowest quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, Joby Aviation, Inc. has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Joby Aviation kupuje Resonant Sciences za přibližně 500 milionů USD, přičemž hotovostní část činí 450 milionů USD a 50 milionů USD v akciích. Akvizice má téměř zdvojnásobit jeho výnosy.
Shares of Joby Aviation (JOBY +0.73%) trade below $7 as of this writing, near their 52-week low, having lost about two-thirds of their value from a 52-week high of nearly $20. Investors, it seems, may be tired of waiting for electric air taxis to turn into meaningful revenue.
The company, meanwhile, isn't waiting. On Aug. 11, Joby announced an agreement to acquire Resonant Sciences, a defense technology company, for about $500 million -- about $450 million in cash plus $50 million in stock. It's a purchase big enough to roughly double Joby's revenue base.
Half a billion dollars is serious money for a company that still spends far more than it takes in. Here's a closer look at what the deal costs -- and what shareholders get.
Image source: Joby Aviation.
Fast growth in defenseResonant, based in Dayton, Ohio, builds radio frequency (RF) and mission systems for U.S. national security customers. It also specializes in low-observability technology. In simpler terms, its systems help military aircraft sense their surroundings and avoid detection.
Not only did Resonant generate more than $100 million of revenue over its trailing twelve months, up about 40% year over year, but the business also produces positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA). And demand is accelerating. In the first half of 2026, Resonant booked more than three times as much new business as it did a year earlier, and its backlog more than doubled year over year.
Joby's own outlook, raised in August, calls for full-year 2026 revenue of $115 million to $125 million. Resonant's trailing-twelve-month revenue, in other words, is nearly as large as everything Joby expects to book this year.
However, the deal isn't expected to close until the first half of 2027, subject to regulatory reviews. None of Resonant's results are in Joby's numbers yet.
Can Joby afford it?Joby can afford the deal, I think, at least on today's balance sheet.
Joby's cash and short-term investments stood at about $2.3 billion at the end of June. Management expects to use between $385 million and $415 million of it in the second half of 2026 alone. The $450 million going to Resonant works out to about a fifth of the war chest.
In February, Joby raised about $576 million in net proceeds from a stock offering and another $670 million from an offering of convertible notes. The company, in other words, is spending cash investors handed it months ago, not cash the business generated.
Between the guided second-half cash use and the Resonant payment, about $850 million of the June 30 balance is already spoken for. The $50 million of stock barely registers, adding less than 1% to the share count. However, on the same day it announced the deal, Joby also put a program in place to sell up to $750 million in new stock over time.
Joby stock is still an air taxi betAlmost none of Joby's revenue today comes from electric air taxis.
Of the $38.6 million the company reported for the second quarter, $36.2 million came from passenger flights booked through Blade (the passenger business Joby acquired in August 2025). Blade's demand peaks in the summer, and the second quarter's $38.6 million was up from about $24 million in the first. And the full-year outlook implies a second half no bigger than the first, not an acceleration.
But the air taxi business itself isn't generating revenue yet. Joby said in its August update that it made its strongest quarterly progress yet in the fifth and final stage of FAA type certification. The company is still targeting its first passenger flights before the end of 2026, with the first flights under a federal pilot program expected in Texas this month.
The price of the deal also looks reasonable next to Joby's own valuation. At a market capitalization of about $6.7 billion, Joby trades at more than 50 times the midpoint of its 2026 revenue outlook. Resonant, by comparison, is being bought for less than 5 times its trailing sales -- a modest price, I'd argue, for a business growing about 40%.
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Moneyball Superscore
66/100
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Investors, in short, aren't paying for the revenue Joby has today. They're paying for the air taxi business it hopes to build.
Ultimately, the acquisition strikes me as a sensible use of Joby's cash. It buys a business that could keep growing whether or not air taxis arrive on schedule. But the deal doesn't change what this growth stock is: a bet that electric air taxis become a big business before the cash runs low.
Of course, the certification work isn't finished, and the first paying passengers haven't flown. I would avoid buying shares here. If those passengers arrive on schedule and spending starts to fall, I would consider changing my mind.
Joby Aviation spaluje přes 200 milionů USD za čtvrtletí, ale jeho likvidita má podle firmy vystačit na dva až tři roky. To by mělo pokrýt certifikaci FAA i spuštění prvních komerčních letů.
Joby Aviation (JOBY +1.77%), a developer of electric vertical take-off and landing (eVTOL) aircraft, is a divisive stock. The bulls expect its revenue to soar after the Federal Aviation Administration (FAA) fully certifies its first commercial flights. Still, the bears warn that its stock is overvalued, its share count is soaring, and that it's burning too much cash.
But is Joby actually in danger of running out of cash before it launches its first commercial flights? Let's see how much cash it's burning through, and if it needs to rein in its spending.
Image source: Getty Images.
To figure out how much cash Joby is burning through each quarter, we should add its net cash used in operating activities to its total capex to calculate its free cash flow (FCF) outflow. That figure has gradually risen above $200 million over the past year. However, its total liquidity -- which includes its cash, cash equivalents, and short-term investments -- more than doubled.
Period
Q2 2025
Q3 2025
Q4 2025
Q1 2026
Q2 2026
FCF Outflow
($118.7 million)
($153.2 million)
($167.0 million)
($222.4 million)
($201.8 million)
Total Liquidity
$991 million
$978 million
$1.41 billion
$2.47 billion
$2.30 billion
Data source: Joby Aviation.
Joby's cash burn increased as it accelerated its flight testing, manufacturing setup, and FAA certification activities. To offset that pressure, it raised more cash with a $576 million stock offering in the fourth quarter of 2025, followed by another $600 million stock offering and $690 million convertible debt offering in the first quarter of 2026.
As a result, Joby's share count rose 13% over the past 12 months. It's also increased its share count by 63% over the past five years, and that dilution will likely worsen as it burns more cash. Its total liabilities also surged 156% year over year to $985 million in its latest quarter.
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Moneyball Superscore
66/100
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6.81
On the bright side, Joby expects its cash runway to last for the next two to three years. That should give it enough time to obtain a full FAA certification for its S4 eVTOLs -- which it expects by the end of 2026 -- and to launch its first commercial flights.
Should investors be worried about Joby's cash? For now, investors shouldn't fret too much about Joby's cash usage. It's still firmly backed by Toyota, Delta, and Uber, and it's ahead of its closest peer -- Archer Aviation -- in the FAA certification process. They should only worry if Joby doesn't launch its first commercial flights before its cash runs out.
Leo Sun has no position in any of the stocks mentioned. The Motley Fool recommends Delta Air Lines and Uber Technologies. The Motley Fool has a disclosure policy.
Joby Aviation je blíž finální certifikaci FAA než Archer Aviation, ale vítěz v závodě o air taxi zatím není jasný. Firma má asi 2,3 mld. USD hotovosti a ve 2. čtvrtletí 2026 výnosy téměř 39 mil. USD.
Can we declare a winner in the air taxi race yet? In a competition led by innovators Archer Aviation (ACHR -3.04%) and Joby Aviation (JOBY -2.38%), there isn't a clear champion yet, but Joby appears to have the lead. It pulled ahead of Archer in reaching the final stage of Federal Aviation Administration (FAA) certification, but both companies still have plans to begin U.S. operations under a federal pilot program this year.
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Moneyball Superscore
66/100
Today's Change
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6.98
Shares of Joby have plummeted nearly 50% over the past year. The company has made progress in increasing revenue while it continues to pursue a viable commercial air taxi business. Of the company's nearly $39 million in revenue in the second quarter of 2026, roughly $36 million came entirely from its subsidiary, Blade. Joby also recently announced it'll acquire the defense-tech firm Resonant Sciences in a move that'll substantially boost revenue.
The company has an enviable cash position of approximately $2.3 billion. That's an important runway for a business with high cash burn and a core product that hasn't officially launched.
Image source: The Motley Fool.
Full certification from the FAA will give Joby the biggest lift and reduce the execution risk for investors. From there, it'll still be years before commercial air taxis hit the mainstream, but if anyone is going to do it, there's a solid chance it's going to be Joby Aviation. With its partnership with Uber Technologies and plans to launch among Dubai's ultra-wealthy, Joby is the frontrunner.
Naming a winner in this race is premature. Investors should continue to monitor Joby's progress with regulators. Both Joby and Archer still need to prove they can mass-produce their aircraft and turn a profit. The stakes are sky-high, but so is the potential upside if air taxis become a widespread mode of transportation.
Catie Hogan has no position in any of the stocks mentioned. The Motley Fool recommends Uber Technologies. The Motley Fool has a disclosure policy.
Joby Aviation kupuje společnost z oblasti obranných technologií Resonant Sciences za 500 milionů USD, aby rozšířila své podnikání do obrany. Resonant má za posledních 12 měsíců tržby přes 100 milionů USD a meziročně vzrostly o 40 %.
Joby Aviation (JOBY -2.91%) is moving deeper into the defense sector. The electric air taxi maker announced plans to acquire defense-tech company Resonant Sciences for $500 million.
The news caused a short-term drop in the stock as investors weighed the cost against the longer-term opportunity. Ultimately, this move is good for investors, as Joby diversifies its offerings and enters a more lucrative, profitable space.
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The deal gives Joby an established presence and credibility within the defense sector. Resonant generated more than $100 million in revenue in the past 12 months. Its 40% year-over-year revenue growth is substantial for Joby, which has already used acquisitions to generate revenue.
Last year, Joby acquired Blade for $125 million. Blade accounts for more than 90% of Joby's current revenue.
The deal also allows Resonant to become Joby's dedicated defense business, and Joby will remain focused on its commercial air taxi pursuits. The integration of the two companies' technologies will also boost capabilities, particularly within autonomous defense systems, which is expected to be a highly lucrative market. Air taxis face intense regulatory scrutiny and hurdles, with mass adoption likely still years away.
Image source: The Motley Fool.
Joby's move into defense is expensive in the immediate term, but, more importantly, it diversifies its revenue. The $500 million deal, which is structured as $450 million in cash and $50 million in common stock, will be well worth it as Resonant continues to sign new contracts. The short-term drop in stock price looks more like an opportunity than a warning.
I'm bullish on this acquisition. Joby's stock has fallen more than 50% in the past 12 months and is quite volatile. Investors should anticipate that volatility will remain as the air taxi industry is still in its nascent stage. This moment presents an intriguing time to get in on the future of aviation.
Catie Hogan has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Joby Aviation koupí obrannou technologickou firmu Resonant Sciences za asi 500 milionů USD, čímž posílí a diverzifikuje své podnikání. Resonant loni na bázi tržeb za posledních 12 měsíců utržila přes 100 milionů USD.
Joby Aviation (JOBY -4.43%) has spent the better part of its life trying to make electric vertical takeoff and landing (eVTOL) aircraft into a real, sustainable business. Now, oddly enough, one of its biggest developments of the year has almost nothing to do with eVTOLs -- at least, not yet.
On Aug. 11, Joby announced that it will acquire defense technology company Resonant Sciences for about $500 million, including about $450 million in cash and $50 million in Joby stock. Resonant, which generated more than $100 million in trailing-12-month revenue, will eventually become Joby’s dedicated defense business. That means the Joby team can continue working on its air taxi service, while the Resonant team works on defense technology, with plenty of potential for cross-pollination between the two sides.
The deal makes Joby a much stronger, more diversified business. But whether it makes Joby a stronger stock is a more complicated question. Let’s take a closer look.
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Resonant makes Joby a stronger business, but not a safer stock.Joby Aviation, as I alluded to above, has been trying to build an electric air taxi company. It is indeed widely considered the frontrunner in the nascent eVTOL industry, due in large part to its lead in flight testing and its progress through the FAA’s type certification process.
Joby used about $318 million in operating cash over the first six months of 2026, while reporting about $63 million over the same period. Much of that revenue comes from Blade Air Mobility, which it acquired in 2025. The company still had a hefty liquidity cushion, about $2.3 billion at the end of June, but it badly needs its revenue base to grow if it wants to avoid further shareholder dilution down the road.
Image source: The Motley Fool.
In this context, the acquisition of Resonant is an A-. It’s an “A,” because it gives Joby a revenue stream tied to a fast-growing business. Resonant has grown its trailing-12-month revenue by roughly 40% year over year, generates positive adjusted EBITDA, and has an established customer base that includes the U.S. government.
It’s an “A-,” and not an “A+,” however, because it’s dedicating a sizable chunk of its liquidity to the acquisition. Paying $450 million in cash would reduce Joby’s total liquidity to about $1.85 billion, all else equal. Still sizable, but it shaves about eight to nine months from Joby’s cash runway, assuming, of course, its recent burn rate stays consistent.
It’s not, however, a bad deal. In fact, I would call it a smart move. Historically, military demand has often subsidized (and accelerated) aviation technologies that later have civilian applications, and Resonant’s defense business could fit into that pattern. Indeed, Morgan Stanley’s (MS -0.12%) eVTOL report, which predicted the global urban air mobility to $9 trillion by 2050, once named “national security” as one of the five main accelerants for urban air.
Does this make Joby a screaming buy? I don’t think the acquisition makes Joby a screaming buy. Joby, which carries a roughly $8 billion market cap, is still being valued primarily on its commercial air taxi services, which, mind you, haven't yet received FAA type certification. Although the expansion into defense adds revenue Joby didn’t have yesterday, it also adds another layer of risk to the whole enterprise, if only because eight to nine months of cash cushion will go toward it.
After the acquisition, I like Joby stock a little more, but my position hasn’t fundamentally changed: the stock is still, I think, a high-risk, high-reward play on an industry that doesn’t yet exist. Aggressive investors might be interested, but I’d keep my position small until that FAA type certification for its eVTOL is in hand.
Joby Aviation plánuje v Texasu v září 2026 testovací lety eVTOL, zatímco letos cílí na první pasažéry. Ke konci druhého čtvrtletí byla společnost zhruba ze 75 % hotová se čtvrtou fází certifikace FAA.
Key Takeaways Joby Aviation expects eIPP flights in Texas in September 2026 as it targets first passengers this year. JOBY was about 75% complete in FAA certification's fourth stage at the end of the second quarter. Joby Aviation had five air taxis flying and 12 more in production as of the second quarter of 2026. Joby Aviation, Inc. (JOBY - Free Report) expects to begin eVTOL Integration Pilot Program, or eIPP, flights in Texas in September 2026. The event could become an important test of operational readiness as the company works toward carrying its first passengers this year.
The flights matter because they arrive while Joby is still advancing through Federal Aviation Administration certification. A successful program would mark progress, not the end of the regulatory or commercial work.
Joby’s Texas Flights Put Certification to the TestJoby plans to fly routes across the Dallas-Fort Worth area over the course of a week. The company says the program is intended to demonstrate the value and operational maturity of its aircraft in coordination with federal, state and local authorities.
Under the eIPP framework, flights are expected to progress from pilot-only operations to nonpaying passengers and eventually paying passengers. Joby continues to target carrying its first passengers in 2026.
JOBY Is Advancing Through FAA CertificationJoby has completed or substantially completed three of five FAA type-certification stages and was approximately 75% complete in the fourth stage at the end of the second quarter. It also reported continued progress through the fifth and final stage.
Certification remains central because Joby says type certification is required for widespread commercial operations in the United States. The eIPP offers a parallel route for initial market activity, but it does not eliminate the need to complete the broader approval process.
Joby’s Production Footprint Is Taking ShapeManufacturing activity is moving beyond a single test aircraft. Five Joby air taxis were flying as of the second quarter of 2026, including its first FAA-conforming aircraft, and another 12 aircraft were in production.
Joby also said it reduced the nonconformance rate in its manufacturing processes by nearly 40% during the first half of 2026. That progress matters as the company shifts from research builds toward low-rate production.
JOBY’s Partnerships Could Support Launch ExecutionToyota Motor Corporation (TM - Free Report) and Joby established a manufacturing joint venture in June 2026 to prepare for commercial production and improve productivity, quality and cost. Toyota holds 51% of the venture and Joby 49%, giving the air-taxi maker access to Toyota’s production expertise.
Uber Technologies, Inc. (UBER - Free Report) is another commercialization partner. Uber has introduced plans for Uber Air powered by Joby, which would allow eligible riders to book Joby flights through the Uber app when service becomes available.
Joby Still Faces Adoption and Battery RisksSuccessful Texas flights would not remove the harder scaling questions. Joby still needs sufficient infrastructure, regulatory approvals and customer demand as it moves from demonstrations toward recurring passenger operations.
Battery limitations are another consideration because the company identifies perceptions of range on a single charge as a factor that could affect adoption. Safety, convenience, price and competing transportation options will also influence demand.
JOBY’s Mixed Signals Keep Expectations in CheckThe Texas program could show that Joby can translate aircraft development into real-world operations. Investors still need evidence that certification progress, manufacturing capacity and early passenger activity can support a durable commercial model.
JOBY currently carries a Zacks Rank #3 (Hold), along with a Value Score of F, Growth Score of F, Momentum Score of F and VGM Score of F. Those weak Style Scores temper the operational milestone and favor measured expectations while execution remains the main test. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
JOBY ve 2. čtvrtletí zvýšil tržby na 38,6 mil. USD, nad odhady, a ztrátu na akcii na 25 centů. Firma zároveň zvedla celoroční výhled tržeb na 115–125 mil. USD.
Key Takeaways JOBY posted Q2 revenues of $38.6M, beating estimates, while its loss widened to 25 cents a share. Blade contributed $36.2M in Q2, helping Joby Aviation raise its 2026 revenue outlook to $115M-$125M. Joby Aviation targets first eIPP flights in Texas in September and its first passengers later in 2026. Joby Aviation, Inc. (JOBY - Free Report) reported a second-quarter 2026 loss of 25 cents per share, wider than the Zacks Consensus Estimate of a loss of 23 cents. In the year-ago quarter, JOBY reported a loss of 41 cents.
However, the results had a positive impact on the market, as the stock gained 5.5% since its earnings release on Aug. 5.
Quarterly revenues were $38.6 million, surpassing the Zacks Consensus Estimate of $29 million. Revenues increased from $15,000 in the prior-year period, with Blade contributing $36.2 million in the reported quarter amid seasonal demand and strong passenger activity.
In the June-end quarter, total operating expenses increased 78.4% year over year to $299.52 million. Research and development expenses rose 42.7% to $194.66 million, while selling, general and administrative expenses climbed 143.2% to $76.56 million as Joby invested in certification, manufacturing and commercial readiness and supported Blade’s growth.
Adjusted EBITDA in second-quarter 2026 was a loss of approximately $197 million compared with a loss of about $179 million in the first quarter. Management attributed the sequential change to the quarter's revenues and expense dynamics.
JOBY exited the second quarter with cash and cash equivalents of $629.86 million and total cash, cash equivalents and short-term investments of $2.26 billion. As of June 30, 2026, long-term debt totaled $701.87 million.
JOBY's GuidanceThe company raised its full-year 2026 revenue outlook to $115-$125 million from $105-$115 million, citing Blade's continued strength. For the second half of 2026, Joby expects to use between $385 million and $415 million of cash, cash equivalents and short-term investments.
On the operating front, Joby expects its first flights under the White House-backed eIPP program in Texas in September and aims to carry its first passengers in 2026. The company said five aircraft are flying and another 12 are in production, while it recorded its strongest quarterly progress yet in the fifth and final stage of FAA type certification.
Currently, JOBY has a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Q2 Performances of Other Transportation CompaniesWestinghouse Air Brake Technologies (WAB - Free Report) , operating as Wabtec Corporation, reported encouraging second-quarter 2026 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate and increased year over year.
Quarterly adjusted earnings of $2.76 per share beat the Zacks Consensus Estimate of $2.63 by 4.9% and increased 21.6% year over year, owing to higher sales and operating margin expansion.
Revenues climbed 17.5% to $3.18 billion and surpassed the consensus mark of $3.08 billion by 3.2%.
United Airlines Holdings, Inc. (UAL - Free Report) reported second-quarter 2026 adjusted earnings of $1.99 per share, down 48.6% year over year but above the Zacks Consensus Estimate of $1.92 by 3.7%.
Operating revenues rose 16% to $17.67 billion and were essentially in line with the $17.68 billion consensus mark. A 12.1% increase in total revenues per available seat mile or TRASM, and broad-based gains across premium, loyalty and cargo revenues, supported the top line despite sharply higher fuel costs.
Joby Aviation ve 2. čtvrtletí překonala odhady výnosů, když vykázala 38,64 mil. USD, a zvýšila celoroční výhled výnosů na 115–125 mil. USD. Ztráta na akcii činila 25 centů.
JOBY stock is moving. Watch the price action here. Joby Q2 Details Joby reported quarterly losses of 25 cents per share, which missed the consensus estimate for losses of 23 cents, according to Benzinga Pro data.
Quarterly revenue clocked in at $38.64 million, which beat the analyst consensus estimate of $30.38 million by 27.18% and was up from revenue of only $15,000 in the same period last year.
“With meaningful progress on certification, partnerships, infrastructure and commercial readiness, we are unlocking the third dimension of mobility and turning electric vertical flight from an extraordinary technology into an everyday reality, giving people their time back and fundamentally changing the way we move,” said JoeBen Bevirt, founder and CEO.
Looking AheadJoby raised its full year 2026 total revenue outlook to a range of $115 million to $125 million, versus the $114.93 million analyst estimate.
JOBY Stock Price Activity: According to data from Benzinga Pro, Joby stock was down 0.51% to $7.76 in Wednesday’s extended trading.
Photo courtesy of Joby Aviation, Inc.
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Joby Aviation čeká na výsledky za 2. čtvrtletí po uzavření trhu 5. srpna 2026 a trh sleduje hlavně postup certifikace FAA. Bez konkrétního posunu může akcie po oznámení znovu prudce oslabit.
Joby Aviation (JOBY +3.22%) is slated to report second-quarter earnings after the bell on Aug. 5, 2026. And, boy oh boy, is the timing tense.
So far in 2026, Joby stock has plummeted about 50%. Investors, while mostly bullish on electric vertical takeoff and landing (eVTOL) stocks in 2025, have seemingly lost interest.
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Part of that is because Joby’s fundamental challenge hasn’t changed: It still needs FAA type certification before it can scale its eVTOL business. The financial consequence of that delayed commercialization will probably show up again in its second-quarter results, with Wall Street expecting a loss of roughly $0.21 per share.
Anyone who has invested in Joby is probably aware of the company’s cash-burning problems. What could send the stock plummeting after the bell on Aug. 5, however, would be related to FAA type certification progress, or lack thereof.
If Joby’s progress appears stalled -- or its pace appears decelerated -- the money-losing eVTOL start-up could be in for a difficult second-half of 2026.
Image source: The Motley Fool.
Joby cannot afford a vague certification update. Joby is flying into its second-quarter earnings with a market cap of about $7 billion despite lacking an FAA-certified eVTOL and generating little revenue from its core business.
Announcement-wise, Joby’s second quarter has seemed pretty solid. In late April, Joby flew an eVTOL from JFK airport to heliports in Manhattan in under 10 minutes, completing the first-ever point-to-point eVTOL flight in the Big Apple. In June, Joby and its long-term manufacturing partner, Toyota, (TM -1.49%) announced a formal joint effort called the Joby Toyota Aero Manufacturing Preparation Company (JTAMPC), aimed at scaling production of Joby’s S4 electric taxis.
Finally, in July, Joby finalized a definitive agreement with Virgin Atlantic to bring Joby’s air-taxi services to the United Kingdom. Under the agreement, Virgin Atlantic users will be able to book Joby air taxis through the airline’s mobile app and website, adding another big name to Joby’s commercial partnership list, which includes Delta (DAL +4.75%) and Uber (UBER +1.78%).
This has all been great. But none of it answers the question that matters most for its valuation right now: When will Joby break the regulatory dam holding back its highly anticipated commercial launch? Is the company moving quickly enough through the FAA type certification process, and, if so, when should investors expect eVTOL commercialization?
Anything short of specific, concrete language around FAA testing -- not vague, evasive wording -- could be read as a disappointment, especially since none of the company’s biggest second-quarter announcements moved the needle on Joby stock.
It’s worth noting that Joby reported an earnings beat in Q1 that led to a roughly 21% one-day surge. Shares of Joby were trading at roughly $10.50 the day after reporting first-quarter earnings on May 5, and that winning streak continued until they rose north of $12 at the end of May, after which shares began to slide. The stock currently trades at about $7.50.
Given what investors know going into second-quarter earnings, a meaningful certification or commercialization milestone would be the reason for a surge on the same level as last quarter’s. Without one, however, Joby’s second-quarter report could send the stock into another tailspin.
Joby Aviation má za čtvrtletí vykázat ztrátu 0,21 USD na akcii při tržbách 28,97 mil. USD. Analytici navíc snížili odhad EPS o 1,19 % za posledních 30 dní a Earnings ESP je -12,57 %.
Joby Aviation, Inc. (JOBY - Free Report) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on August 5. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus EstimateThis company is expected to post quarterly loss of $0.21 per share in its upcoming report, which represents a year-over-year change of +12.5%.
Revenues are expected to be $28.97 million, up 289600% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 1.19% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Joby Aviation, Inc.?For Joby Aviation, Inc., the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -12.57%.
On the other hand, the stock currently carries a Zacks Rank of #4.
So, this combination makes it difficult to conclusively predict that Joby Aviation, Inc. will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Joby Aviation, Inc. would post a loss of$0.21 per share when it actually produced a loss of -$0.21, delivering no surprise.
The company has not been able to beat consensus EPS estimates in any of the last four quarters.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Joby Aviation, Inc. doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Joby Aviation zahájila lety s prvním výrobním eVTOL schváleným FAA, což je důležitý krok k certifikaci pro komerční provoz. Firma už má přes 50 000 mil testovacích letů a cílí na spuštění služby ještě letos.
The biggest question surrounding Joby Aviation (JOBY 1.12%) has never been whether electric air taxis can fly. It's whether regulators would approve them.
That question became a little easier to answer after Joby began flying its first FAA-conforming production eVTOL aircraft, a major step toward obtaining Type Inspection Authorization (TIA). If you're unfamiliar, TIA is one of the final stages before full FAA certification for commercial operations.
The company has now logged more than 50,000 miles of test flights, and management continues targeting commercial service this year. A lofty goal, to be sure. But does it make the stock a buy?
The regulatory risk is falling For years, FAA certification has been the single largest overhang on the stock.
With production-conforming aircraft now flying, Joby has moved beyond testing prototypes and into validating the aircraft that regulators will ultimately certify for passenger service. That's a much different stage of development than we were looking at just a year ago.
Joby was also recently selected to participate in the White House-backed Air Taxi Pilot Program, which will allow early operations across multiple U.S. states. This is while the company is now preparing to launch service in Dubai, where vertiports are already under construction. Those are significant milestones.
Valuation still demands perfection The fact is, the stock already reflects considerable optimism. Joby currently carries a market capitalization of roughly $8.5 billion despite generating very little revenue today. However, that's not unusual for an emerging aerospace company.
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But concerns regarding execution remain. Launching an entirely new form of transportation requires FAA certification, manufacturing scale, charging infrastructure, pilot training, customer adoption, and favorable economics -- all at the same time.
So even after certification, profitability could still be years away.
A lot has to go right Certification is only one milestone. Joby plans to produce four aircraft per month by 2027, but scaling manufacturing while maintaining safety standards is one of the hardest challenges in aerospace. At the same time, the company must prove that customers are willing to pay enough to support a profitable business model. And we just don't know how that will play out yet.
Image source: Getty Images.
Not a low-risk investment Joby has unquestionably reduced one of the biggest risks facing its business. That's an important development, and it makes the path toward commercialization considerably clearer than it was a year ago.
Still, I wouldn't call the stock an obvious buy. The market is already assigning an $8.5 billion valuation to a company that has yet to establish a commercial air taxi business. That leaves relatively little room for execution mistakes.
If Joby delivers on certification, launches service on schedule, and proves demand exists, today's valuation could eventually look reasonable. But until those pieces fall into place, I'd view the stock as an intriguing technology story with loads of potential but not a low-risk investment.
Joby Aviation a Toyota Motor Corporation spouštějí první fázi strategické výrobní aliance a zakládají společný podnik pro rozvoj komerční výroby eVTOL. Cílem je zvýšit produktivitu, kvalitu a snížit náklady.
To build up commercial production capability, advance manufacturing excellence, and prepare for scale-up of electric air taxi production
, /PRNewswire/ -- Joby Aviation, Inc. (NYSE: JOBY) and Toyota Motor Corporation today announced the initial phase of their strategic manufacturing alliance by establishing the Joint Venture to realize air mobility. This will combine Joby's pioneering work in electric aviation with Toyota's globally recognized expertise in production systems and operational excellence.
Joby Aviation and Toyota Motor Corporation Launch Initial Phase of a Strategic Manufacturing Alliance to Realize Air Mobility for All The Strategic Alliance will initially focus on establishing the groundwork for commercial production, and advancing manufacturing excellence, with particular emphasis on further improving productivity, quality, and cost. Going forward, it will also support the expansion of Joby's production capacity to support aircraft certification and meet anticipated growth in demand for its electric vertical take-off and landing (eVTOL) aircraft.
"Toyota has been by Joby's side for nearly a decade, providing invaluable guidance and support as we built the foundation for manufacturing our aircraft," said JoeBen Bevirt, founder and CEO of Joby Aviation. "Today's announcement reflects the strength of our relationship and our shared confidence in the opportunity ahead. Together, we share a vision of making aerial mobility an everyday reality, and we look forward to delivering on that promise together."
Akio Toyoda, Chairman of Toyota Motor Corporation, commented: "Since our founding, we've been guided by the philosophy of providing mobility for all. Over time, we've continued to expand what mobility can mean. We see air mobility as a natural extension of that philosophy—from the ground into the sky—and as a way to bring new value to people's lives and to society. It's really meaningful for us to take on this challenge together with Joby, a partner that shares the same vision. We believe this strengthened relationship is an important step forward in realizing the future mobility society."
Going forward, both companies will continue to work closely together through this Joint Venture, leveraging their respective strengths to bring air mobility to society on a broader scale.
About Joby Aviation
Joby Aviation, Inc. (NYSE:JOBY) is a California-based transportation company developing an all-electric, vertical take-off and landing air taxi. Joby intends to both operate its fast, quiet, and convenient air taxi service in cities around the world and sell its aircraft to other operators and partners. To learn more, visit www.jobyaviation.com.
About Toyota
Toyota (NYSE:TM) has been a part of the cultural fabric in North America for nearly 70 years, and is committed to advancing sustainable, next-generation mobility through our Toyota and Lexus brands, plus our more than 1,800 dealerships.
Toyota directly employs nearly 64,000 people in North America who have contributed to the design, engineering, and assembly of over 50 million cars and trucks at our 14 manufacturing plants. In 2025, Toyota's plant in North Carolina began to assemble automotive batteries for electrified vehicles.
For more information about Toyota, visit www.ToyotaNewsroom.com.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding the goals and expected benefits of the strategic manufacturing alliance. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied, including risks related to the ability of the parties to negotiate and execute the additional agreements related to the strategic manufacturing alliance on acceptable terms or at all, delays in regulatory certifications and timelines, changes in market conditions, and other risks described in Joby's filings with the Securities and Exchange Commission. The companies undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date hereof, except as required by applicable law.
MEDIA CONTACTS
Joby Aviation
Investors:
[email protected]
Media:
[email protected]
Joby Aviation zvýšila tržby ve 4. čtvrtletí 2025 na 30,84 milionu USD a pro rok 2026 očekává 105 až 115 milionů USD. Akcie jsou ale stále pod tlakem kvůli ztrátovosti a vysokému ocenění.
Joby Aviation (NYSE:JOBY | JOBY Price Prediction) is graduating from a flight-test story to a revenue story. The Blade acquisition pushed Q4 2025 revenue to $30.84 million, management is guiding $105 million to $115 million for full-year 2026, and a JFK-to-Manhattan eVTOL flight put the brand in front of every commuter in the country.
Yet shares sit at $10, down 24.24% year to date. Can JOBY trade at $20 by 2028?
What’s Holding Joby Back Shares are stuck because of what investors are paying for unprofitable growth. Joby trades at a price-to-sales ratio of 122x with a beta of 2.67, punished whenever rate expectations shift. Shares are flat over the last month at 0%, with a recent 20% drop in June tied to a strong jobs report and renewed Fed tightening concerns.
Insider selling has weighed on sentiment. Director Paul Sciarra sold 416,666 shares at $12.02, and CFO Rodrigo Brumana followed with a $897,000 sale via a 10b5-1 plan. Both were pre-scheduled, but the optics hurt a stock already 47% below its 52-week high.
Wall Street Sees 11% Upside. Our Model Says 16%. Consensus target is $11.12, with 1 strong buy, 2 buys, 5 holds, 2 sells, and 1 strong sell. Our base-case model lands at $11.62 for a 16.2% upside, with a moderate 0.5 confidence score mirroring the analyst split of 27% bullish, 27% bearish, 45% neutral.
Consensus is too anchored on Joby being pre-revenue. The bull case points to $15.05 within twelve months and $25.75 over five years. Wall Street has not repriced for FAA certification, and that is the asymmetry worth watching.
The Path to $20 Per Share Reaching $20 from $10 requires a gain of 100%. With forward EPS of -$1.20, a price of $20 implies a forward P/E of -17x. The negative figure shows why our model excludes EPS and leans on analyst target weighting and the 247Factor of 1.045. For JOBY, price-to-sales is where the bull case has room.
If Joby hits a credible 2028 revenue ramp toward the $458 million projection being modeled post-FAA approval, the current 122x sales multiple compresses sharply at $20.
Three catalysts are in motion: the first point-to-point electric air taxi flight from JFK to Manhattan, selection for commercial operations in 11 states, and a Dubai launch with vertiports at the airport, Palm Jumeirah, and Dubai Mall.
CEO JoeBen Bevirt told investors, “2026 will mark a key inflection point for Joby”, and ARK Invest backed that view with a 119,000-share purchase after the FAA milestone. The primary risk is simple: any FAA Type Certification slip beyond 2026 resets the bull thesis.
Is $20 Realistic? Joby has no earnings power yet, which is the entire problem and opportunity. The stock sits at $10, against a 52-week range of $7.75 to $20.95, and a 50-day moving average of $9.79. Five-year total return is essentially flat at 0.4%.
The market has paid Joby for the option rather than the operating business. If Dubai service launches and the Dayton plant ramps to 4 aircraft per month in 2027, the option converts into cash flow.
Hitting $20 by 2028 requires a 100% gain, and on a beta of 2.67 that is achievable.
Three things must go right: FAA Type Certification by 2026, passenger revenue from Dubai and U.S. eIPP sites in 2027, and Dayton production hitting 4 aircraft per month on schedule. A certification delay forcing another dilutive capital raise derails it.
I view $20 as a stretch target with real catalysts behind it. Returns at this level shouldn’t be expected every year, but the blueprint for Joby reaching $20 in 2028 is clear.
