Joby Aviation Reports Third Quarter 2023 Results

SANTA CRUZ, Calif.--(BUSINESS WIRE)--Joby Aviation, Inc. (NYSE:JOBY), a company developing all-electric aircraft for commercial passenger service, today issued its Third Quarter 2023 Shareholder Letter detailing the company’s operational and financial results for the period ending September 30, 2023. The company will host a live audio webcast of its conference call to discuss the results at 2:00 p.m. PT (5:00 p.m. ET) today.

Third Quarter 2023 Highlights:

  • Certification Progress. Stage three nearing completion, with 84% of Certification Plans now accepted by FAA, including Energy Storage and Distribution System Plan, which covers batteries and high-voltage power distribution.

  • First Delivery. A Joby aircraft became the first electric air taxi delivered to the U.S. Air Force — months ahead of schedule — as part of the Company’s $131 million contract with the Department of Defense.

  • Pilot on Board. Joby’s flight test program was expanded to include flight with a pilot on board. Four Joby pilots completed flights that included forward transitions to semi-thrust borne flight.

  • Building the Future. Three aircraft are now in production at Joby’s Pilot Production Facility in Marina. Dayton, OH, was selected as the site for the Company’s first scaled manufacturing facility, with state and local agencies offering incentives and benefits totaling up to $325 million in support.

  • Strong Financial Foundation. At the end of the third quarter of 2023, Joby had $1.1 billion in cash and short-term investments.

Malina Longjoby, joby aviation