Joby Aviation — Third Quarter 2026 Earnings Summary

Financial Performance:

• Full-year 2026 revenue outlook raised 15% to a range of $135 million to $140 million.
• Third Quarter 2026 revenue was $55 million, primarily generated from the Blade business segment.
• Cash, cash equivalents, and short-term investments totaled $2.2 billion as of September 30, 2026.
• Cash usage for the second half of 2026 is anticipated to be between $385 million and $415 million.

Guidance and Future Outlook:

• The company increased its full-year 2026 total revenue outlook to $135 million–$140 million.
• Future cash burn is projected at $385 million–$415 million for the second half of 2026.
• Outlook incorporates investment toward eVTOL aircraft certification, manufacturing expansion, and commercial preparations including the U.S. eVTOL Integration Pilot Program (eIPP).

Business Segments and Product Lines:

• Blade segment flew over 44,000 passengers in Q3 2026.
• Manufacturing output significantly increased, with 17 aircraft now in production.
• First flights completed in Texas and Florida as part of the White House-backed eIPP program.
• Joby's J208 autonomous aircraft completed the first fully autonomous flight across the U.S.
• Autonomy-focused contracts with the U.S. Air Force expanded to approximately $37 million.
• Announced a planned acquisition of Resonant Sciences, an EBITDA-positive defense technology company with over $100 million in trailing twelve-month revenue.

Market and Competitive Landscape:

• Progress made on the fifth and final stage of FAA type certification, including a wide range of "for credit" testing.
• The company aims to lead the electric vertical flight market through engineering, manufacturing, and certification efforts.
• Resonant Sciences acquisition is intended to expand Joby's defense business with established programs, classified capabilities, and scaled manufacturing operations.

Risks and Challenges:

• Risks include the ability to launch air taxi services and grow the urban air mobility market.
• Potential constraints on U.S. Air Force contracts due to government funding and appropriations.
• eIPP project participation depends on finalization of Other Transaction Authority (OTA) contracts.
• Acquisition risks include satisfying closing conditions for Resonant Sciences, integrating the business and team, retaining key personnel, and realizing anticipated benefits.
• Risks related to unanticipated acquisition costs, competitive environment, future capital needs, intellectual property protection, and evolving regulations.

Management Commentary and Tone:

• CEO JoeBen Bevirt expressed confidence in Joby's ability to lead the electric vertical flight market, citing progress on certification, manufacturing efficiency, and key market demonstrations.
• Management highlighted the completion of the fifth and final stage of FAA certification and the expansion of autonomy contracts as significant milestones.
• The core mission remains bringing electric vertical flight to passengers globally, with engineering and manufacturing efforts focused on market entry.

Other Key Points:

• Joby Aviation will host a live audio webcast on November 4, 2026, at 2:00 p.m. PT (5:00 p.m. ET) to discuss results.
• The company operates Blade, a leading urban air mobility business providing passenger transportation in the U.S. and Europe.
• Joby intends to operate air taxi services in cities worldwide and sell aircraft to other operators and partners.
• The press release includes a comprehensive list of forward-looking statements and risk factors detailed in the "Forward-Looking Statements" section.