Joby Aviation (NYSE: JOBY) announced it has begun final assembly of its first conforming aircraft for FAA Type Inspection Authorization (TIA) flight testing, marking a key step in the certification process. The update came alongside Q2 earnings, where the company reported a wider-than-expected loss and lower-than-forecast revenue. Joby also highlighted progress in defense collaborations, international testing, and commercialization efforts.
- Q2 EPS: -$0.41 vs. -$0.19 expected
- Q2 Revenue: $15K vs. $59K expected
- Final assembly underway for first TIA aircraft; pilot test flights expected in 2025
- FAA certification progress: 70% (Joby), over 50% (FAA)
- Completed 21 test flights in Dubai to validate commercial readiness
- Announced hybrid defense aircraft program with L3Harris
- Entered agreement to acquire Blade’s passenger business
- Cash & short-term investments: $991M; Toyota funded $250M of planned $500M strategic investment
- Expanded Marina, CA plant to 435,000 sq. ft.; Dayton, OH site ramping up with long-term capacity for 500 aircraft/year
Relevant Companies
- Joby Aviation (JOBY) – Advancing toward FAA certification and expanding production capabilities despite widening Q2 losses.
- Blade Air Mobility (BLDE) – Set to be acquired by Joby, expanding Joby's urban air mobility footprint.
- L3Harris Technologies (LHX) – Partnering with Joby on hybrid aircraft development for defense applications.
Editor’s Note: This is a developing story. This article may be updated as more details become available.
