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Dec 31, 2023
Joby Aviation Q4 2023 Earnings Report
Joby Aviation reported Q4 and full year 2023 results, highlighting the first electric air taxi flight in New York City and progress in certification and manufacturing.
Key Takeaways
Joby Aviation reported its Q4 and full year 2023 results, showcasing the first electric air taxi flight in New York City. The company is focused on certification and manufacturing, with $1.0 billion in cash and short-term investments at the end of Q4 2023.
Completed the first-ever flight of an electric air taxi in New York City.
Completed 30 for-credit pathfinder tests during the quarter.
Signed a definitive agreement with the government of Dubai for exclusive air taxi operation rights for six years.
Held $1.0 billion in cash and short-term investments at the end of the fourth quarter of 2023.
Forward Guidance
Joby Aviation's 2024 outlook focuses on progressing the certification and manufacturing of its aircraft, increasing focus on commercialization, extending flight exhibition series, expanding engagement with the Department of Defense, beginning component manufacturing in Dayton, Ohio, and expanding its low-volume manufacturing plant in Marina, California. Expected cash use for 2024 is estimated to range between $440 – $470 million.
Positive Outlook
- Progressing the certification of aircraft.
- Advancing the manufacturing of aircraft.
- Increasing focus on commercialization.
- Extending flight exhibition series to key markets.
- Expanding engagement with the Department of Defense.
Historical Earnings Impact
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