Quarterly ResultMay 6, 2026, 04:32 PM
Joby Aviation Reports First Revenue of $24.2M; Net Loss Widens to $109.9M
AI Summary
Joby Aviation reported its first-ever revenue of $24.2 million for the first quarter of 2026, a significant milestone for the company. Despite this, the net loss widened to $109.9 million, driven by increased operating expenses, particularly in research and development and selling, general and administrative costs. The company substantially bolstered its financial position through a $600 million public offering and $690 million in convertible notes, increasing its total cash, cash equivalents, and short-term investments to $2.47 billion. Additionally, Joby expanded its asset base with the acquisition of an industrial property in Ohio for $62.3 million.
Key Highlights
- Reported first-time revenue of $24.2 million for the three months ended March 31, 2026.
- Net loss widened to $109.9 million in Q1 2026 from $82.4 million in Q1 2025.
- Total cash, cash equivalents, and short-term investments increased to $2.47 billion as of March 31, 2026.
- Raised $600 million from an underwritten public offering and $690 million from convertible notes.
- Acquired an industrial property in Ohio for $62.3 million in March 2026.
- Research and development expenses increased to $177.5 million in Q1 2026.
- Selling, general and administrative expenses rose to $61.6 million in Q1 2026.
- Long-term debt increased to $701.1 million as of March 31, 2026.
Price Impact
More from JOBY