Joby Aviation has announced its third-quarter 2025 performance, addressing concerns and setting forth future expectations. The company is navigating critical phases in its development, with a key focus on the forthcoming commercial service of its electric vertical takeoff and landing (eVTOL) aircraft. Recent updates reveal insights into the company’s financial standing and strategic goals which are pivotal for its stakeholders.
Joby recorded significant momentum over the past several months with its stock price growing 135%, driven largely by investor optimism about the eVTOL launch plans. The acquisition of Blade’s passenger operations stands as a key highlight, providing Joby with advanced infrastructure in strategic locations like New York, enhancing service readiness. While revenue specifics remain undisclosed due to pre-commercial phases, cash reserves reflect a strong position with $978.1 million reported. A strategic equity raise of $576 million further buttresses their finances, aimed particularly at certification testing, manufacturing scale-up, and vital operational preparations.
How Soon Will Joby’s Air Taxis Fly?
CEO JoeBen Bevirt indicated that certification milestones are largely on track with 70% completion of Stage 4 certifications and over 50% on the FAA side. Stage 5 completion would pave the way for type certification of the eVTOLs, setting the foundation for commercial operations. The integration of Blade Operations is projected to facilitate faster rollout of air taxi services. “The Blade acquisition supercharges our operations with incredible infrastructure and a loyal customer base,” Bevirt stated.
What’s Next for Joby’s Defense Strategies?
Joby is advancing its defense sector footprint through a partnership with L3Harris, aimed at developing a hybrid turbine-electric eVTOL model. Flight tests and operational demonstrations are expected to unfold by early 2026, potentially unlocking access to a $9.4 billion market in uncrewed aircraft technology. “The defense expansion opens new avenues for Joby, complementing our dual-use strategy,” a representative noted.
The company maintains a focus on manufacturing capabilities, significantly leveraging its partnership with Toyota to boost efficiency and production rates. The Marina and Dayton facilities are crucial to meeting ambitious output targets, with up to 500 aircraft per year projected. Furthermore, financial discipline remains a priority, as highlighted by a maintained cash use guidance of $500–$540 million annually, excluding acquisition costs.
The forward-looking stance centers on readiness for a commercial launch by 2026, despite an absence of definitive guidance on EPS or product deliveries. Stakeholders anticipate more updates as the company progresses through certification stages and strengthens its operational capabilities.
The trajectory of Joby Aviation reflects a balancing act between regulatory advances, financial strategies, and market entry initiatives. With strategic partnerships and infrastructure build-outs underway, the path to commercial viability hinges on meeting critical certification and operational milestones while navigating competitive and regulatory landscapes effectively.
