Joby Revenue Jumps to $55 Million in Third Quarter, Beating Estimates
Key Facts
Joby Aviation reported third-quarter results on November 4, posting revenue of $55 million, above analysts’ estimates of $40.4 million, according to The Motley Fool. The company said quarterly revenue rose 144% year over year, from $22.6 million in the corresponding quarter of 2025 to $55.1 million in the period ended September 30, 2026. The announcement came after the market closed that day, so the stock’s November 4 close at $5.05 does not reflect investors’ reaction to the results. In the November 5 session, the stock was up 3.8% at 3:26 p.m. Eastern time, after rising as much as 15.2% earlier, according to The Motley Fool. The figures show that revenue growth was the focus of the initial response, while the results also pointed to expanding operations and higher spending.
Joby attributed the revenue increase mainly to including a full quarter of Blade passenger transportation revenue in 2026, compared with only about one month in the corresponding period of 2025 after its acquisition on August 29 of that year. The company said Blade carried more than 44,000 passengers in a record quarter and was the main source of the quarter’s $55 million in revenue. This effect was partly offset by lower revenue from government flight services provided to U.S. Department of Defense agencies. Revenue growth also extended to the nine months ended September 30, reaching $117.974 million, versus $22.589 million in the same period of 2025. The comparison shows Blade’s contribution to the increase, with its revenue included for different lengths of time in the two periods, while the increase did not prevent a decline in the quarterly net loss.
Joby’s third-quarter net loss was $211.83 million, compared with a loss of $401.226 million in the same quarter of 2025. At the same time, research and development expenses rose to $208.599 million from $149.163 million a year earlier, according to the official results table. The company held $2.2 billion in cash, cash equivalents and short-term investments at the end of September. But Joby expects to use between $385 million and $415 million of cash and short-term investments in the second half of 2026. It said this use would fund certification, manufacturing expansion and commercial readiness, putting its spending trajectory alongside revenue growth in assessing the results.
Operationally, Joby said it completed a broad scope of “type inspection authorization” testing with the U.S. Federal Aviation Administration as part of the final, fifth phase of type certification. Chief Executive JoeBen Bevirt said the company had made “meaningful progress” in this phase, completing a broad set of FAA-approved tests. The company said 17 aircraft were in production when it announced the results and that manufacturing cadence had increased significantly. It also expanded its autonomous aviation contracts with the U.S. Air Force to about $37 million. These developments represent operational and contractual activity alongside passenger transportation, while the company said it would continue certification testing, expand manufacturing and prepare for commercial operations.
Joby raised its 2026 revenue outlook to $135–140 million from a previous range of $115–125 million, attributing the increase to Blade’s strong performance. The company said this performance allows it to “raise full-year revenue guidance once again,” pointing to a revision of its annual estimate as passenger transportation continues to contribute. The new outlook follows quarterly revenue that exceeded analysts’ estimates, but comes alongside a quarterly net loss and research and development expenses above their year-earlier levels. In the second half of the year, the company expects to use $385–415 million of its cash resources and short-term investments. Steps it announced include continuing aircraft certification tests, expanding manufacturing and completing commercial preparations.