NYSE$JOBY
Joby Aviation Inc · Q4 2025 earnings
Q4 2025 earnings · · After market close · Investor relations
Briefing
Joby Aviation reported Q4 2025 revenue of $30.8 million and a net loss of $121.5 million, with $1.4 billion in cash at year-end.
Joby reported Q4 2025 revenue of $30.8 million (including Blade aviation operations) with a net loss of $121.5 million, improved by $124.7 million YoY largely on warrant and earnout revaluation. Operating expenses were $237.6 million as the company advances FAA certification and manufacturing scale-up. Cash and short-term investments were $1.4 billion at Q4 end plus ~$1.2 billion received in February 2026. Management expects first passengers in Dubai in 2026 and plans to double production capacity to four aircraft per month in 2027.
- Q4 revenue $30.8M; net loss $121.5M narrowed sharply YoY on non-cash items.
- Record FAA type certification progress (+18 points in stage four).
- ~$1.4B cash at Q4 plus ~$1.2B raised in February 2026.
- Plans to double manufacturing to four aircraft/month in 2027.
Headline financials
Revenue & EPS history
Joby Aviation · Revenue · Quarterly
$30.8M
Forward guidance
Joby does not provide traditional revenue/EPS guidance; milestones include first passenger flights in UAE in 2026, eIPP U.S. operations, FAA TIA aircraft production, and Dayton manufacturing facility ramp.
Tailwinds
- Strong liquidity supports certification and production scale.
- Partnerships with Uber, Dubai, Saudi, and DoD validation.
- Certification path progressing with conforming aircraft for TIA.
Headwinds
- Large ongoing operating losses and cash burn pre-revenue service.
- Regulatory and manufacturing execution risk on eVTOL certification.
- Dilution and non-cash warrant/earnout volatility in reported net income.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2025
+2.6%
Avg return
Earnings day
+4.3%
Avg return
5 days after
+1.9%
Avg return
30 days after
57%
12 / 21 earnings
Positive
+28.1%
Q1 2022
Best reaction
-12.1%
Q4 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +21.2% | +24.0% | +9.9% | |
| Q4 2025 | +4.3% | -0.6% | -17.5% | |
| Q3 2025 | -4.4% | +9.0% | +1.7% | |
| Q1 2025 | +3.3% | +12.0% | +26.5% | |
| Q4 2024 | +0.7% | -1.5% | -8.8% | |
| Q3 2024 | +0.0% | +22.9% | +73.3% | |
| Q2 2024 | +1.2% | -2.5% | -7.2% | |
| Q1 2024 | -11.6% | -8.5% | -6.9% | |
| Q4 2023 | -12.1% | -11.9% | -15.9% | |
| Q3 2023 | +15.0% | +13.1% | +24.9% | |
| Q2 2023 | -5.8% | -7.2% | -16.2% | |
| Q1 2023 | +5.4% | +8.2% | +40.8% | |
| Q4 2022 | +11.5% | +6.8% | -8.9% | |
| Q3 2022 | -6.3% | -8.7% | -12.7% | |
| Q2 2022 | +9.9% | +2.2% | -5.2% | |
| Q1 2022 | +28.1% | +35.3% | +19.5% | |
| Q4 2021 | +7.6% | +21.2% | -10.6% | |
| Q3 2021 | -1.5% | +1.7% | -26.5% | |
| Q2 2021 | -11.8% | -22.1% | -17.8% | |
| Q4 2020 | -5.7% | -5.3% | -9.9% | |
| Q3 2020 | +4.7% | +2.0% | +6.8% |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro