4Q Summary
- Certification: Compared to last quarter, up 4 steps — Joby +3%, FAA +18% — [2025/3Q] 77% (Joby) / 55% (FAA) → [2025/4Q] 80% (Joby) / 73% (FAA)
- The first fully conforming aircraft is ready for flight.
- Military hybrid aircraft demonstration this fall (Announced that the hybrid platform will also be used for mid- to long-range air taxis / planned sales to the military, civil governments, and other government agencies.)
- TIA pilot flight testing with the FAA to begin by year-end.
- Commercial launch in Dubai by year-end.
- EIPP selection announcement coming soon, followed by program initiation.
- Cash on hand: $2.6 billion ($1.4 billion at the end of Q4 + $1.2 billion newly raised)
- Reduced cash burn: Net loss this quarter was $121.4 million (Loss reduced by $279.7 million compared to last quarter / reduced by $124.7 million compared to Q4 last year.)
- Q4 revenue and next year revenue outlook: $30.8 million (including $21 million through Blade) Full-year revenue guidance next year: $105 million–$115 million.
- Delta executed the first tranche of its warrant as Joby achieved a key milestone. (Believed to be 7 million shares at $10 per share for the first tranche, though no official confirmation has been announced.)
- Long-term shareholders such as Baillie Gifford and Morgan Stanley participated again in the recent capital raise (continuing to increase their shareholdings).
- The target payload (1 pilot + 4 passengers, full weight capacity) has not yet been achieved. (Limitations remain in both battery performance and software.)
Posted Feb 26, 2026, 3:23 AM UTC
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