JOBY

MKT CAP:$8B

Joby Aviation, Inc.

Market Cap

$8B

Industrials·Airlines, Airports & Air Services·🇺🇸 United States·NYSE

Industrials·Airlines,·🇺🇸·NYSE

Stock Price

$8.49-$5.87 (-40.88%)

Apr 23, 2026

Company Details

Joby Aviation, Inc., a vertically integrated air mobility company, engages in building an electric vertical takeoff and landing aircraft optimized to deliver air transportation as a service. It intends to build an aerial ridesharing service...

CEO

JoeBen Bevirt

IPO Date

Nov 9, 2020

Website

www.jobyaviation.com

Key Metrics TTM

Revenue

$53M

+39183.1% YoY

Net Income

-$930M

EPS (Diluted)

-$1.14

Free Cash Flow

-$565M

Revenue / Share

$0.06

Gross Margin

6.1%

Operating Margin

-1346.9%

Net Margin

-1740.5%

FCF Margin

-1057.1%

P/S

155.7x

P/E

—

Earnings Reports

Q1 2026

May 6, 2026

PENDING

Q4 2025

Feb 26, 2026

$31M+55965.5%EPS -$0.14

Q3 2025

Nov 5, 2025

$23M+80521.4%EPS -$0.48

Q2 2025

Aug 6, 2025

$15.0K-46.4%EPS -$0.41

Q1 2025

May 7, 2025

$0-100.0%EPS -$0.11

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$0	$0	-$94M
Q2 22	$0	$0	-$99M
Q3 22	$0	$0	-$97M
Q4 22	$0	$0	-$101M
Q1 23	$0	$0	-$100M
Q2 23	$0	$0	-$116M
Q3 23	$0	$0	-$128M
Q4 23	$1M	$832.0K	-$128M
Q1 24	$25.0K	$10.0K	-$146M
Q2 24	$28.0K	$13.0K	-$144M
Q3 24	$28.0K	$13.0K	-$157M
Q4 24	$55.0K	$33.0K	-$150M
Q1 25	$0	$0	-$163M
Q2 25	$15.0K	-$10M	-$168M
Q3 25	$23M	$13M	-$182M
Q4 25	$31M	$515.0K	-$207M

Valuation

Quarter	P/S	P/E
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q4 22	—	—
Q1 23	—	—
Q2 23	—	—
Q3 23	—	—
Q4 23	8061.5x	—
Q1 24	7870.8x	—
Q2 24	7667.7x	—
Q3 24	7474.8x	—
Q4 24	61172.4x	—
Q1 25	74949.9x	—
Q2 25	84892.3x	—
Q3 25	367.4x	—
Q4 25	155.7x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$61M	-$72M
Q2 22	-$53M	-$61M
Q3 22	-$68M	-$74M
Q4 22	-$53M	-$84M
Q1 23	-$79M	-$87M
Q2 23	-$72M	-$77M
Q3 23	-$80M	-$89M
Q4 23	-$83M	-$91M
Q1 24	-$107M	-$114M
Q2 24	-$99M	-$107M
Q3 24	-$110M	-$120M
Q4 24	-$120M	-$136M
Q1 25	-$111M	-$126M
Q2 25	-$107M	-$119M
Q3 25	-$140M	-$153M
Q4 25	-$153M	-$167M

Capital Expenditures

Quarter	CapEx
Q1 22	$11M
Q2 22	$8M
Q3 22	$5M
Q4 22	$30M
Q1 23	$9M
Q2 23	$5M
Q3 23	$9M
Q4 23	$8M
Q1 24	$7M
Q2 24	$8M
Q3 24	$10M
Q4 24	$15M
Q1 25	$15M
Q2 25	$12M
Q3 25	$13M
Q4 25	$14M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	—	+105.9%
Q2 22	—	+45.4%
Q3 22	—	+43.5%
Q4 22	—	+31.3%
Q1 23	—	+5.7%
Q2 23	—	+16.7%
Q3 23	—	+32.0%
Q4 23	—	+27.5%
Q1 24	—	+46.3%
Q2 24	—	+24.4%
Q3 24	—	+22.3%
Q4 24	-94.7%	+16.0%
Q1 25	-100.0%	+11.9%
Q2 25	-46.4%	+16.3%
Q3 25	+80521.4%	+30.3%
Q4 25	+55965.5%	+58.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$19M	—
Q2 22	$19M	—
Q3 22	$13M	—
Q4 22	$17M	—
Q1 23	$17M	—
Q2 23	$25M	—
Q3 23	$27M	—
Q4 23	$24M	2314.8%
Q1 24	$27M	108068.0%
Q2 24	$28M	101321.4%
Q3 24	$27M	97832.1%
Q4 24	$22M	39392.7%
Q1 25	$27M	—
Q2 25	$27M	177053.3%
Q3 25	$33M	145.6%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 22	$72M	—	—	$22M
Q2 22	$74M	$25M	—	—
Q3 22	$74M	—	—	$23M
Q4 22	$76M	$25M	$100	—
Q1 23	$76M	—	—	$24M
Q2 23	$89M	$27M	—	—
Q3 23	$101M	—	—	$28M
Q4 23	$102M	$27M	—	—
Q1 24	$116M	—	—	$30M
Q2 24	$113M	—	—	$31M
Q3 24	$126M	—	—	$31M
Q4 24	$122M	—	—	$28M
Q1 25	$134M	—	—	$29M
Q2 25	$136M	—	—	$22M
Q3 25	$149M	—	—	$45M
Q4 25	$161M	—	—	$46M

Revenue Segments

Quarter	Passenger	Product and Service, Other
Q3 25	$14M	$9M
Q4 25	$21M	$10M

Revenue by Geography

Quarter	Non-US	United States
Q3 25	$5M	$18M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$417M	$804M	$1.2B
Q2 22	$311M	$840M	$1.2B
Q3 22	$194M	$881M	$1.1B
Q4 22	$146M	$911M	$1.1B
Q1 23	$50M	$928M	$978M
Q2 23	$383M	$812M	$1.2B
Q3 23	$480M	$632M	$1.1B
Q4 23	$204M	$828M	$1.0B
Q1 24	$111M	$813M	$924M
Q2 24	$175M	$650M	$825M
Q3 24	$152M	$558M	$710M
Q4 24	$200M	$733M	$933M
Q1 25	$122M	$690M	$813M
Q2 25	$336M	$655M	$991M
Q3 25	$208M	$770M	$978M
Q4 25	$241M	$1.2B	$1.4B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	579M	-2.1%	-4.1%
Q2 22	581M	+0.4%	-3.7%
Q3 22	584M	+0.5%	-1.3%
Q4 22	586M	+0.3%	-1.0%
Q1 23	605M	+3.4%	+4.5%
Q2 23	637M	+5.2%	+9.5%
Q3 23	691M	+8.6%	+18.4%
Q4 23	698M	+1.0%	+19.3%
Q1 24	682M	-2.4%	+12.7%
Q2 24	689M	+1.1%	+8.3%
Q3 24	695M	+0.8%	+0.5%
Q4 24	733M	+5.4%	+4.9%
Q1 25	767M	+4.7%	+12.5%
Q2 25	797M	+3.9%	+15.6%
Q3 25	845M	+6.0%	+21.5%
Q4 25	895M	+5.9%	+22.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$0	1K
Q2 22	$0	1K
Q3 22	$0	1K
Q4 22	$0	1K
Q1 23	$0	1K
Q2 23	$0	1K
Q3 23	$0	1K
Q4 23	$581	2K
Q1 24	$14	2K
Q2 24	$16	2K
Q3 24	$16	2K
Q4 24	$27	2K
Q1 25	$0	2K
Q2 25	$7	2K
Q3 25	$11.1K	2K
Q4 25	$12.1K	3K

Revenue / Employee