Joby Aviation, Q3 2026 Earnings Call Transcript

Joby says it has completed a broad range of FAA credit tests in the final stage of certification and expects FAA pilot training and company flight testing to begin in the first half of 2027, ahead of TIA flight testing. The company sees the eVTOL pilot program as a parallel route to early commercial passenger operations, with flights expected to support certification and operating approvals. Manufacturing output rose 37% from Q1 to Q3 as recorded nonconformances fell 38%; production is scaling with Toyota’s support. Blade carried a record 44,000-plus passengers in Q3, helping Joby raise 2026 revenue guidance to $135 million–$140 million.

Joby ended Q3 with about $2.2 billion in cash, equivalents and short-term investments, and expects second-half cash use of $385 million–$415 million. It plans to acquire defense firm Resonant Sciences, subject to approvals, and says expanded Air Force contracts bring autonomy contract value to nearly $37 million. Management expects early operations under the eIPP program next year and operational flight testing in Dubai later this year.