Joby Aviation, Inc.

Listed Company

JOBY-WTCIK 0001819848NYSELarge AcceleratedAircraftDelawareFY ends Dec 31

Period

FY 2025

Revenue

$53.42M

Net Income

$-929.84M

Total Assets

$1.80B

Equity

$1.41B

Shares Out

979.33M

Op. Cash Flow

$-509.89M

Business

Joby Aviation, Inc. develops an all‑electric vertical takeoff and landing (eVTOL) air taxi and intends to manufacture, own and operate a vertically integrated aerial ridesharing service. Its offerings include the Joby eVTOL designed for a pilot and up to four passengers, proprietary charging infrastructure (GEACS), aircraft manufacturing, maintenance and pilot training, and an app‑based multimodal booking platform. Key business areas include aircraft design and testing, production and supply partnerships, certification and operations (commercial and government contracts), and infrastructure development. Joby targets urban markets globally through direct app sales and integration with third‑party platforms and vertiport/heliport networks.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Operating expenses:	53	136,000	1	0	0
Cost of Revenue	29	67,000	200,000	0	0
Research and development	581	477	367	296	198
Selling, general and administrative	163	120	106	96	62
Total operating expenses	773	597	473	392	259
Loss from operations	−720	−597	−472	−392	−259
Interest and other income, net	43	43	46	17	1
Loss on common stock issuance in private placement	−40	0	0	—	—
Loss from change in fair value of warrants, earnout shares and contingent consideration	−212	−54	−86	—	—
Total other loss, net	−209	−11	−41	134	68
Loss before income taxes	−929	−608	−513	−258	−191
Income tax expense	1	129,000	139,000	92,000	−11
Net loss	−930	−608	−513	−258	−180
Net loss per share, basic (in dollars per share)	−1.13	−0.87	−0.79	−0.44	−0.61
Net loss per share, diluted (in dollars per share)	−1.13	−0.87	−0.79	−0.44	−0.61
Weighted-average common shares outstanding, basic (in shares)	826	700	648	586	295
Weighted-average common shares outstanding, diluted (in shares)	826	700	648	586	295

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	241	200	204	146	956
Short-term investments	1,167	733	828	911	343
Total cash, cash equivalents and short-term investments	1,408	933	1,032	1,057	1,299
Restricted cash	220,000	0	0	3	0
Other receivables	7	16	5	4	2
Prepaid expenses and other current assets	30	21	19	20	17
Total current assets	1,446	970	1,056	1,084	1,319
Property and equipment, net	147	121	103	92	—
Operating lease right-of-use assets	32	29	28	25	0
Restricted cash	693,000	762,000	762,000	762,000	762,000
Intangible assets	19	8	7	13	15
Goodwill	89	14	14	14	11
Other non-current assets	62	61	61	64	70
Total assets	1,795	1,203	1,269	1,293	1,488
Accounts payable	4	4	3	8	4
Operating lease liabilities, current portion	8	5	4	4	0
Accrued expenses and other current liabilities	48	39	38	19	10
Total current liabilities	60	48	45	30	14
Operating lease liabilities, net of current portion	26	26	26	24	0
Warrant liability	105	95	63	29	45
Earnout shares liability	157	117	96	44	110
Total	38	4	5	2	2
Total liabilities	385	291	235	128	172
Commitments and contingencies (Note 7)	—	—	—	—	—
Preferred stock: $0.0001 par value - 100,000,000 shares authorized at December 31, 2025 and 2024. No shares issued and outstanding at December 31, 2025 and 2024.	0	0	0	0	0
Common stock: $0.0001 par value - 2,800,000,000 and 1,400,000,000 shares authorized at December 31, 2025 and 2024 respectively, 915,076,698 and 784,176,364 shares issued and outstanding at December 31, 2025 and 2024, respectively	91,000	78,000	70,000	61,000	60,000
Additional paid-in capital	4,194	2,769	2,282	1,908	1,793
Accumulated deficit	−2,786	−1,856	−1,248	−735	−477
Accumulated other comprehensive income (loss)	2	−583,000	−480,000	−9	−122,000
Total stockholders equity	1,410	912	1,034	1,165	1,317
Total liabilities and stockholders equity	1,795	1,203	1,269	1,293	1,488
Common stock, shares authorized (in shares)	2,800	1,400	1,400	1,400	1,400

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization expense	40	36	30	24	16
Stock-based compensation expense	128	104	94	69	27
Net accretion and amortization of investments in marketable debt securities	−8	−16	−20	−5	4
Other receivables and prepaid expenses and other current assets	9	−12	−573,000	−2	−12
Other non-current assets	1	−545,000	309,000	20	10
Accounts payable and accrued expenses and other liabilities	−7	6	6	11	6
Non-current liabilities	4	−171,000	3	23	0
Net cash used in operating activities	−510	−436	−314	−236	−196
Purchase of marketable securities	−1,170	−604	−810	−1,359	−402
Proceeds from sales and maturities of marketable securities	745	715	921	789	—
Purchases of property and equipment	−54	−41	−31	−55	−32
Acquisitions, net of cash	3	0	0	−6	−7
Net cash provided by (used in) investing activities	−475	71	80	−631	−19
Proceeds from issuance of common stock in private placement, net	250	0	280	60	0
Proceeds from the issuance of common stock under the Employee Stock Purchase Plan	12	11	7	0	—
Proceeds from the exercise of stock options and warrants issuance	37	2	2	1	—
Repayments of obligations under finance lease and tenant improvement loan	−2	−2	−844,000	−1	−1
Net cash provided by financing activities	1,027	361	288	60	1,093
Net change in cash, cash equivalents and restricted cash	41	−4	55	−806	878
Noncash Exercise Of Private Warrants	85	0	0	—	—
Acquisitions in exchange for stock issuance	74	0	0	—	—
Unpaid property and equipment purchases	3	7	2	4	654,000
Property and equipment purchased through financing leases	4	3	5	694,000	926,000
Right-of-use assets acquired through operating leases	4	5	6	29	0
Net non-cash assets acquired	0	9	0	0	654,000

Filings

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