Joby Reports Second Quarter 2025 Financial Results
Aug 06, 2025 — Santa Cruz, CA. - Aug. 6, 2025 - Joby Aviation, Inc. (NYSE:JOBY), a company developing electric air taxis for commercial passenger service, today issued its Second Quarter 2025 Shareholder Letter detailing the company’s operational and financial results for the quarter ending June 30, 2025.
Second Quarter 2025 Highlights include:
Commencing Final Assembly of first TIA Aircraft: Joby is preparing for final assembly of the first of several conforming aircraft intended for Type Inspection Authorization flight testing. Joby expects its pilots to start flying this aircraft in 2025, with FAA pilots following shortly thereafter to directly evaluate the aircraft’s performance and safety. This testing is central to the certification process and forms a key part of the fifth, and final, stage of the type certification process.
Certification Progress: Joby is now 70 percent complete on its side of stage four of its Federal Aviation Administration (FAA) type certification program, and more than 50 percent complete on the FAA side (up 10 points from the first quarter of 2025).
Dubai Flight Testing: Joby completed 21 full-transition flights in a multi-week campaign in Dubai this summer to validate commercial readiness. The campaign validated several aspects of commercial market readiness in real-world conditions, spanning maintenance, logistics, aircraft capabilities and infrastructure.
New Defense Opportunities: The company announced a new collaboration with L3Harris to develop a gas turbine hybrid variant of its existing aircraft to pursue low-altitude defense opportunities. The collaboration combines Joby’s existing commercial aircraft development program and leading manufacturing capabilities with L3Harris’ proven expertise on platform missionization. Joby plans to start flight testing this fall and perform operational demonstrations during government exercises in 2026.
Accelerating commercialization: Joby entered a definitive agreement to acquire Blade Air Mobility, Inc.’s passenger business. The planned acquisition is expected to unlock immediate market access and infrastructure across key urban corridors in New York City and Southern Europe. In addition, new agreements with Abdul Latif Jameel and ANA will explore deployment of approximately 300 aircraft.
Strong Balance Sheet: Joby ended the quarter with $991M of cash and short-term investments. The Company also closed on the first $250 million tranche of its previously announced $500 million strategic investment from Toyota.
Expanded Manufacturing Facility: Joby completed the expansion of its Marina, California manufacturing site, which now spans 435,000 total square feet. With this additional space, the Company plans to double its production capacity at this site to 24 aircraft per year. At the same time, Joby’s newly renovated facility in Dayton, Ohio is coming online to support the manufacturing and testing of critical aircraft components. Over time, the Dayton facility is expected to be capable of producing up to 500 aircraft per year.
