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Dec 31, 2024
Joby Aviation Q4 2024 Earnings Report
Joby Aviation reported a higher net loss as investments in certification and manufacturing continued.
Key Takeaways
Joby Aviation reported a Q4 2024 net loss of $246.3 million, primarily due to increased operating expenses related to aircraft certification and manufacturing. The company ended the quarter with $932.9 million in cash, cash equivalents, and short-term investments, supplemented by public offerings. Joby made significant progress on FAA certification, delivered a second aircraft to the U.S. Air Force, and began construction of its first Dubai vertiport.
Net loss widened to $246.3 million, up from $115.1 million in Q4 2023.
Operating loss reached $149.9 million, reflecting investments in certification and manufacturing.
Cash and short-term investments totaled $932.9 million, aided by public offerings.
Significant progress in FAA certification, defense partnerships, and global expansion plans.
Forward Guidance
Joby Aviation expects continued investments in certification, manufacturing, and commercialization, with projected cash use of $500–$540 million in 2025.
Positive Outlook
- Strong cash position of $932.9 million to support future operations.
- Significant FAA certification progress, with over 50% completion on Joby’s side.
- Expanded defense partnerships with the U.S. Air Force, including a second aircraft delivery.
- Global expansion efforts include the first Dubai vertiport under construction.
- Expected first passenger operations in late 2025 or early 2026.
Challenges Ahead
- Net loss continues to widen due to high R&D and certification costs.
- Revenue remains minimal, with only $55,000 generated in Q4 2024.
- Stock-based compensation and non-cash losses impact profitability.
- Regulatory approval risks could delay commercial launch timelines.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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