Joby Aviation reports Q3 EPS 0c, consensus (18c)

The company disclosed Q3 highlights: Certification Progress. Stage three nearing completion, with 84% of Certification Plans now accepted by FAA, including Energy Storage and Distribution System Plan, which covers batteries and high-voltage power distribution. First Delivery. A Joby aircraft became the first electric air taxi delivered to the U.S. Air Force – months ahead of schedule – as part of the Company’s $131 million contract with the Department of Defense. Pilot on Board. Joby’s flight test program was expanded to include flight with a pilot on board. Four Joby pilots completed flights that included forward transitions to semi-thrust borne flight. Building the Future. Three aircraft are now in production at Joby’s Pilot Production Facility in Marina. Dayton, OH, was selected as the site for the Company’s first scaled manufacturing facility, with state and local agencies offering incentives and benefits totaling up to $325 million in support. Strong Financial Foundation. At the end of the third quarter of 2023, Joby had $1.1 billion in cash and short-term investments.”