Joby Reports Second Consecutive Quarter of Record Certification Progress, Appoints CFO
Santa Cruz-based Joby Aviation (NYSE: JOBY), a leader in electric air taxi innovation, released its Q1 2025 Shareholder Letter detailing major operational and financial milestones for the quarter ending March 31, 2025.
Key Q1 2025 highlights include:
Record Certification Progress: Joby made record progress on aircraft certification for the second consecutive quarter, reinforcing its leadership in the eVTOL sector.
Pilot-on-Board Transition Flights: Joby became the first electric air taxi company to conduct routine transition flights with a pilot onboard—marking a critical step toward FAA flight testing.
Partnership with Virgin Atlantic: Joby entered a partnership with Virgin Atlantic to launch air taxi services in the UK, beginning with hubs at London Heathrow and Manchester.
Strong Balance Sheet: Joby ended the quarter with $813 million in cash and short-term investments, excluding an additional $500 million commitment from Toyota, of which the first $250 million tranche is finalized and expected to close in Q2.
Fifth Aircraft Powered On: The fifth aircraft produced on Joby’s Pilot Production Line in Marina, CA was powered on for the first time.
Expanded Manufacturing Facility: Joby’s expanded facility in Marina—more than doubling its previous footprint—is nearing completion and scheduled for handover next month.
In executive news, Rodrigo Brumana has been appointed Chief Financial Officer, effective May 29. Brumana brings deep experience from HP, Amazon, eBay, and Poshmark, as well as a background in complex manufacturing.
CEO JoeBen Bevirt emphasized that Joby’s progress in certification, manufacturing, and partnerships places it firmly in a leadership role as eVTOL technology gains momentum in the U.S. and abroad.
To listen to today’s earnings webcast or access a replay, visit: www.jobyaviation.com.