TLDR
- Joby Aviation (JOBY) stock closed at $5.05 on Wednesday, up 4.1%.
- It rose another 5.9% to $5.35 after hours following Q3 results.
- Revenue hit $55 million and gross profit reached $16 million, both above estimates.
- Full-year revenue guidance now sits at $135 million to $140 million.
- The stock is still down about 60% this year as certification remains pending.
Joby Aviation (JOBY) stock closed at $5.05 on Wednesday, up 4.1% on the day. The air-taxi maker then reported third-quarter results after the bell.
In after-hours trading, the stock added 5.9% to reach $5.35. During regular hours, the S&P 500 rose 1.6% and the Dow gained 3%.
Joby posted Q3 revenue of $55 million. FactSet analysts had been looking for $39 million.
Gross profit came in at $16 million, ahead of the $11.4 million Wall Street expected. A year ago, the company reported $12.5 million in gross profit on $22.6 million in sales.
Sales are now more than double last year’s $22.6 million. Investing.com data shows a loss of $0.22 per share, better than the $0.25 loss analysts projected.
Where the Revenue Comes From
Most of Joby’s current revenue comes from Blade Air Mobility’s passenger business. Joby bought that unit in 2025.
So the sales beat came from an existing ride business. Joby’s own eVTOL aircraft are not yet part of that network.
The company raised its full-year revenue guidance to $135 million to $140 million. The prior range was $115 million to $125 million.
That lifts the low end by $20 million and the high end by $15 million. The midpoint moves from $120 million to $137.5 million.
Joby says it could be ready to bring its eVTOL aircraft into the network by 2027. That timeline depends on regulatory approvals.
The company has made progress with the Federal Aviation Administration. Certification for commercial service still has to be completed.
Cash Runway and a Bumpy Year
Joby ended the quarter with $2.2 billion in cash, cash equivalents and short-term investments. Wall Street sees the company using about $2 billion between now and 2030.
Analysts expect free cash flow to turn positive in 2031. Full-year profit is projected for that same year, when sales are forecast to reach $3.2 billion.
It has been a bumpy flight for holders. Even after Wednesday’s gain, the stock is down roughly 60% so far this year.
Over the past 12 months, the drop is about 65%. Investing.com data also shows a decline of roughly 42% over the last three months.
Investors are still waiting on certification and more aircraft production. After the report, the stock was trading at $5.35 in extended hours.
