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Joby Aviation (JOBY)
NYSE:JOBY
US Market

Joby Aviation (JOBY) AI Stock Analysis

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Joby Aviation

(NYSE:JOBY)

Rating:54Neutral
Price Target:
$9.00
▲(0.00%Upside)
Joby Aviation's overall stock score is primarily impacted by its weak financial performance, reflecting persistent losses and cash flow challenges. However, strong technical momentum and positive corporate events, including strategic partnerships and substantial investments, provide some optimism. Valuation concerns persist due to negative earnings, but continued progress in certification and partnerships could support future growth.
Positive Factors
Market Development
The executive order is expected to accelerate market development for eVTOLs and drones within the public safety, defense, and military verticals.
Revenue Potential
The distribution network agreement is valued at approximately $1B, implying significant potential revenue for Joby Aviation.
Strategic Partnership
Toyota's strong confidence in Joby as a strategic partner was viewed positively by investors, with the stock being bid almost 29% higher following the announcement.
Negative Factors
Business Model Uncertainty
Investing in JOBY or other eVTOL companies requires patience and a high risk tolerance, given largely unproven business models and certification risk.
Investment Risks
There are multiple risks identified, including dilution risk, market adoption risk, supply chain risk, technological risk, execution risk, and regulatory risk, which could impact the company's performance.
Program Selection
Joby's S4 eVTOL was not selected for the under-development hybrid VTOL program being spearheaded by defense prime Anduril and airframe partner.

Joby Aviation (JOBY) vs. SPDR S&P 500 ETF (SPY)

Joby Aviation Business Overview & Revenue Model

Company DescriptionJoby Aviation, Inc., a vertically integrated air mobility company, engages in building an electric vertical takeoff and landing aircraft optimized to deliver air transportation as a service. It intends to build an aerial ridesharing service. The company was founded in 2009 and is headquartered in Santa Cruz, California.
How the Company Makes MoneyJoby Aviation plans to generate revenue primarily through its air taxi services, which will offer on-demand urban air transportation. The company intends to operate its own fleet of eVTOL aircraft, providing a direct-to-consumer service akin to ride-sharing, but in the air. Additionally, Joby may generate revenue through partnerships with transportation network companies and other strategic collaborations that integrate its air mobility services into broader transportation ecosystems. Key factors contributing to its earnings include advancements in aircraft technology, regulatory approvals, and successful scaling of its aerial ride-sharing operations.

Joby Aviation Earnings Call Summary

Earnings Call Date:May 07, 2025
(Q1-2025)
|
% Change Since: 40.19%|
Next Earnings Date:Aug 07, 2025
Earnings Call Sentiment Neutral
Joby Aviation's earnings call highlighted significant progress in certification and partnerships, particularly with Virgin Atlantic. However, increased operating expenses and net loss balanced the positives, leading to a mixed financial outlook.
Q1-2025 Updates
Positive Updates
Record Progress on Certification
Joby Aviation accelerated its certification process by 12 percentage points on the FAA side, moving Joby's side to 62% complete.
Successful Pilot-On-Board Transition
Joby achieved a significant milestone by flying through transition with a pilot-on-board, marking it as the first eVTOL company to do so.
Partnership with Virgin Atlantic
Joby announced a partnership with Virgin Atlantic to bring their service to the UK, starting with routes from London Heathrow and Manchester.
FAA Conforming Aircraft Progress
Joby is on track to have FAA conforming aircraft in the air later this year, in preparation for TIA flight testing.
Cash Position and Investment
Joby ended the quarter with $813 million in cash and short-term investments, with additional expected funding from Toyota.
Negative Updates
Increased Operating Expenses
Joby's adjusted EBITDA loss increased by $8 million from the previous quarter, reflecting higher operating expenses.
Net Loss Increase
The net loss for the quarter was $82 million, with an increased loss from operations totaling $163 million.
Company Guidance
During the Joby Aviation conference call for the first quarter of fiscal year 2025, several key metrics and guidance were highlighted. The company reported a 12 percentage point acceleration in the FAA certification process, with Joby's side at 62% completion. The company achieved record flight test activity, conducting tests with five aircraft and two full flight test crews across two locations, resulting in up to eight flights per day. The financial results showed a first-quarter net loss of $82 million and an adjusted EBITDA loss of $127 million, with cash and short-term investments totaling $813 million, excluding the anticipated Toyota investment. Joby reiterated its guidance for 2025 cash use, projected between $500 million and $540 million, and announced the imminent arrival of a full motion flight simulator by the end of the year, underscoring its commitment to pilot training and operational readiness.

Joby Aviation Financial Statement Overview

Summary
Joby Aviation is facing significant financial challenges, with substantial losses and cash flow deficits. The income statement reflects an inability to generate revenue and cover costs, while the balance sheet shows some stability but potential risks if liabilities increase. Cash flow analysis reveals inefficiencies and reliance on external financing. The overall financial health of the company is weak, necessitating strategic changes to improve revenue generation and cost management.
Income Statement
10
Very Negative
Joby Aviation's income statement shows persistent challenges, as evidenced by significant net losses and negative EBIT margins over the years. The company has not generated any significant revenue in most years, indicating difficulties in achieving sales growth. The absence of gross profit and negative EBIT and EBITDA margins reflect an ongoing struggle to cover operating expenses without a revenue base. These factors contribute to a very low score, highlighting substantial operational risks.
Balance Sheet
40
Negative
The balance sheet of Joby Aviation shows a relatively strong equity position compared to its liabilities, highlighted by a positive stockholders' equity. The debt-to-equity ratio is relatively low, indicating manageable debt levels. However, the company's equity ratio has been declining, suggesting potential risk if liabilities continue to grow or equity diminishes. Overall, the balance sheet shows some stability but raises concerns about future leverage and asset management.
Cash Flow
20
Very Negative
Joby Aviation's cash flow statement reveals challenges, with consistent negative operating and free cash flows. This indicates that the company is not generating sufficient cash from its operations to cover its expenses, relying instead on financing activities. The negative free cash flow growth rate and poor operating cash flow to net income ratio illustrate inefficiencies in cash management and operational sustainability, leading to a low score.
Breakdown
TTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income StatementTotal Revenue
111.00K136.00K1.03M0.000.000.00
Gross Profit
59.00K69.00K832.00K-24.00M-15.94M-7.40M
EBIT
-614.14M-596.75M-472.09M-392.20M-259.09M-132.24M
EBITDA
-577.94M-561.18M-441.60M-233.84M-172.49M-106.48M
Net Income Common Stockholders
-595.85M-608.03M-513.05M-258.04M-180.32M-114.16M
Balance SheetCash, Cash Equivalents and Short-Term Investments
812.52M932.85M1.03B1.06B1.30B445.92M
Total Assets
1.08B1.20B1.27B1.29B1.49B497.25M
Total Debt
31.62M31.21M30.66M27.32M2.39M2.64M
Net Debt
-90.67M-168.42M-173.36M-118.78M-953.17M-74.69M
Total Liabilities
224.58M291.10M235.07M128.24M171.60M780.42M
Stockholders Equity
859.44M912.36M1.03B1.16B1.32B-283.17M
Cash FlowFree Cash Flow
-489.29M-476.88M-344.43M-290.81M-228.09M-129.21M
Operating Cash Flow
-440.60M-436.27M-313.83M-235.93M-195.75M-105.90M
Investing Cash Flow
89.72M70.76M80.30M-630.79M-18.74M-393.16M
Financing Cash Flow
362.62M361.11M288.24M60.46M1.09B69.22M

Joby Aviation Technical Analysis

Technical Analysis Sentiment
Positive
Last Price9.00
Price Trends
50DMA
6.99
Positive
100DMA
7.02
Positive
200DMA
6.79
Positive
Market Momentum
MACD
0.59
Negative
RSI
60.62
Neutral
STOCH
48.66
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JOBY, the sentiment is Positive. The current price of 9 is above the 20-day moving average (MA) of 7.99, above the 50-day MA of 6.99, and above the 200-day MA of 6.79, indicating a bullish trend. The MACD of 0.59 indicates Negative momentum. The RSI at 60.62 is Neutral, neither overbought nor oversold. The STOCH value of 48.66 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JOBY.

Joby Aviation Risk Analysis

Joby Aviation disclosed 50 risk factors in its most recent earnings report. Joby Aviation reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

Joby Aviation Peers Comparison

Overall Rating
UnderperformOutperform
Sector (66)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
66
Neutral
$4.50B12.265.40%3.65%4.17%-12.02%
56
Neutral
$315.16M-11.64%12.04%-30.50%
54
Neutral
$7.13B-64.96%-89.50%-10.50%
52
Neutral
$218.75M28.8626.01%
UPUP
48
Neutral
$929.50M-2416.94%-29.68%95.14%
43
Neutral
$39.92M138.02%31.17%83.01%
39
Underperform
$3.43M-398.23%-4.90%81.93%
* Industrials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
JOBY
Joby Aviation
9.00
4.00
80.00%
BLDE
Blade Air Mobility
3.99
0.64
19.10%
UP
Wheels Up Experience
1.37
-0.42
-23.46%
FLYX
flyExclusive
2.73
-1.67
-37.95%
SOAR
Volato Group
1.60
-12.54
-88.68%
SRFM
Surf Air Mobility, Inc.
1.96
-0.27
-12.11%

Joby Aviation Corporate Events

Shareholder MeetingsRegulatory Filings and Compliance
Joby Aviation Approves Key Amendments at Annual Meeting
Neutral
Jun 12, 2025

On June 6, 2025, Joby Aviation held its Annual Meeting of Stockholders, where key proposals were voted on, including the election of directors and amendments to the company’s Certificate of Incorporation. The amendments approved include increasing the number of authorized shares and revising provisions related to U.S. air carrier ownership, which could impact the company’s capital structure and regulatory compliance.

The most recent analyst rating on (JOBY) stock is a Buy with a $9.00 price target. To see the full list of analyst forecasts on Joby Aviation stock, see the JOBY Stock Forecast page.

Product-Related AnnouncementsBusiness Operations and Strategy
Joby Aviation Partners with Abdul Latif Jameel for Saudi Electric Aircraft
Positive
Jun 3, 2025

On June 3, 2025, Joby Aviation and Abdul Latif Jameel announced a Memorandum of Understanding to explore opportunities for electric aircraft distribution in Saudi Arabia. This partnership, aligned with Saudi Arabia’s Vision 2030, could lead to the delivery of up to 200 electric aircraft valued at approximately $1 billion, aiming to enhance the Kingdom’s mobility sector and create socio-economic growth.

The most recent analyst rating on (JOBY) stock is a Buy with a $9.00 price target. To see the full list of analyst forecasts on Joby Aviation stock, see the JOBY Stock Forecast page.

Private Placements and FinancingBusiness Operations and Strategy
Joby Aviation Secures $250M Investment from Toyota
Positive
May 27, 2025

On May 27, 2025, Joby Aviation announced the successful closing of a $250 million investment from Toyota Motor Corporation. This investment is aimed at supporting the certification and commercial production of Joby’s electric air taxi, marking a significant milestone in their collaboration. The funding strengthens the long-term partnership between the two companies, moving them closer to a strategic manufacturing alliance and enhancing Joby’s ability to scale its design and manufacturing processes.

The most recent analyst rating on (JOBY) stock is a Buy with a $9.00 price target. To see the full list of analyst forecasts on Joby Aviation stock, see the JOBY Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.