Joby Aviation (JOBY): Future Prospects and Stock Price Outlook

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Introduction.

Joby Aviation (JOBY) is a high-profile U.S.-based developer of electric vertical takeoff and landing (eVTOL) aircraft and air cab services.

With the aim of launching commercial service in 2026, this new mode of urban mobility is attracting a great deal of attention. It has received high praise from major companies, including an additional investment of $500 million from Toyota, and preparatory work for commercial operation in Dubai is well underway.

The reason this company is attracting attention is its innovation in solving the problem of traffic congestion in urban areas, which cannot be solved by conventional means of transportation, through aerial mobility. The technology, which is electric, quiet, and operates with zero emissions, is highly anticipated as a next-generation mobility solution.

This section takes an in-depth look at Joby Aviation's (JOBY) business, core services, business model, growth potential in the markets it serves, competitive advantages, stock price trends, and even its future prospects. 

If you are interested in next-generation mobility and clean energy investment stocks, please read on to the end of this article.

What is Joby Aviation (JOBY) and what is its business?

Joby Aviation (JOBY) is,An American next-generation air transportation company that develops and operates air cab services using electric vertical takeoff and landing (eVTOL) aircraft.The main axis of the project will be the

Founded in 2009 by JoeBen Bevirt, the company's corporate mission is to create urban air mobility beyond the limits of conventional ground transportation. The company aims to provide a new urban mobility experience through electric aircraft that can take off and land vertically without the need for a runway.

The company's aircraft can carry one pilot and four passengers and can fly at speeds of up to 320 km/h (200 mph). It has a range of up to 161 km (100 miles) and is significantly quieter than conventional helicopters when in operation and operates with zero emissions.

Its main customers are individual users seeking shorter travel times in urban areas and corporate customers requiring emergency transport and logistics services. It should be noted that Joby Aviation is currently in the final stages of obtaining type certification from the U.S. Federal Aviation Administration (FAA).

Further,The company is planning commercial operations in Dubai, Abu Dhabi, and other locations in the Middle East, with a target commercial service launch in 2026.The company has stated that this is a "new technology" that will go beyond a mere technical demonstration. This means more than just a technological demonstration, but a full-scale development as a practical urban transportation infrastructure.

Joby Aviation (JOBY) company information is below.

• Company Name:: Joby Aviation, Inc.
• Year Established2009
• Head Office LocationSanta Cruz, California
• representative: JoeBen Bevirt, Founder and CEO
• Official Site:https://www.jobyaviation.com
• Main BusinessesDevelopment and manufacture of eVTOL aircraft, operation of air cab service, and research and development of aircraft technology

What are Joby Aviation's (JOBY) main services?

Joby Aviation's (JOBY) core services include In the field of next-generation aviation technology, the company develops innovative electric aircraft and comprehensive mobility services that utilize them.

Air Taxi Service

Urban Air Mobility (UAM)

Joby's core services are,On-demand air transportation services in urban areasThe first is.

• Flexible operation with vertical takeoff and landing
• High performance flight with a maximum speed of 200 mph and a range of 100 miles
• Time efficiency that reduces conventional 45-minute car trips to 12 minutes
• Easy app-based reservation system

Manufacture and sale of electric vertical takeoff and landing aircraft (eVTOL)

Design and production of next-generation aircraft

Joby Aviation uses proprietary technology toDesign, manufacture and sales of electric aircraftThe company also conducts

• Unique design with 6 electric motors
• Clean air transportation through zero-emission operations
• Conversation-level quietness (less than 65 decibels)
• Carrying capacity for 1 pilot + 4 passengers

Aeronautical Technology Solutions, Research and Development

Providing advanced aeronautical technology for government agencies and companies

It goes beyond mere aircraft manufacturing,Provide technical support and solutions in all aspects of eVTOL technologyis also an important business for Joby.

• Technology development contracts with the U.S. Department of Defense and Air Force
• Advanced Aeronautical Mobility Research with NASA
• Development of hydrogen electric aircraft technology
• Research and development of autonomous flight systems

These core services go beyond being a mere aircraft manufacturer,Serving as the overall designer of the next generation urban transportation infrastructureThe company's service is characterized by the following points. The company's service aims to break through the limitations of conventional ground transportation and realize sustainable and efficient urban mobility.

What is Joby Aviation's (JOBY) business model?

Joby Aviation's (JOBY) business model is primarilyDirect operation of air cab services, aircraft sales, regional partnershipsThe company consists of three pillars. The company is not just an aircraft manufacturer, but aims to build a comprehensive urban air mobility platform.

Revenue from air cab service operation

Joby operates its ownDirect fare revenue from air cab serviceThe company has adopted a business model in which it obtains

• Scheduled and on-demand services in major cities
• Fare revenue from users through an app-based reservation system
• Stable revenue base based on exclusive operating rights in Dubai and Abu Dhabi
• High value-added pricing as a premium urban transit service

Revenue from aircraft sales

of the eVTOL aircraft itself.Manufacturing and sales businessis another important source of revenue for Joby.

• Aircraft sales to other aviation service providers
• Delivery of special specification aircraft for government agencies (Ministry of Defense, NASA, etc.)
• Securing long-term stable income through lease contracts
• Provision of maintenance and servicing services

Revenue from Strategic Partnerships

The company is...Strategic alliances with leading companies and government agenciesThe company secures diversified revenues through

• Manufacturing technology alliance with $500 million investment from Toyota
• Establishment of flight operation network with Delta Air Lines, Inc.
• Integration with existing vehicle dispatch service with Uber
• Joint development with national governments for regulatory certification

Joby Aviation's business model goes beyond the traditional aircraft industryComprehensive Mobility EcosystemThe company's uniqueness lies in the construction of the as the company's uniqueness,Vertical integration from technology development to operational servicesThis is a differentiating factor from existing aircraft manufacturers.

What is the trading market?

Joby Aviation (JOBY) is listed on the NYSE with the ticker symbol "JOBY".

The NYSE is known as the world's largest stock exchange and is a market where many particularly large and mature companies are listed. For companies deploying next-generation mobility and innovative technologies, such as JOBY, it is the exchange of choice for raising capital and enhancing credibility with international institutional and long-term investors.

What are Joby Aviation's (JOBY) sectors, industries, and themes to which it belongs?

Based on its business and market positioning, Joby Aviation (JOBY) is categorized into the following sectors, industries, and investment themes.

Sector: Technology

Joby Aviation is a leading developer of electric aircraft technology and operator of digital platforms,Belongs to the technology sector in the broadest sense of the wordThe company is a leading aerospace company in the world. Beyond the aerospace industry, the company is positioned as a next-generation company integrating advanced technologies such as electric propulsion, autonomous flight, and IoT.

• Develop and implement innovative technologies for electric propulsion systems
• Integrated mobility services through digital platforms

Industry: Urban Air Mobility (UAM), Next Generation Air Transportation

JOBY is part of the emerging "Urban Air Mobility" industry within the technology sector.

• Integrated eVTOL aircraft design, manufacturing, and operations
• Specializing in short-distance intra-city travel, which is different from conventional air transportation
• Innovative Transportation Infrastructure with Vertical Takeoff and Landing Technology

Themes: Next Generation Mobility / Clean Energy / Smart Cities

Joby Aviation's attractiveness as an investment is due to its affinity for several growth themes.

• Next Generation MobilityThe new means of transportation after the automobile has the potential to fundamentally change the concept of urban transportation.
• clean energyZero-emission operation through electric propulsion attracts attention from environmentally conscious investors as an ESG investment target.
• smart city: Expected to be the core technology for an integrated urban transportation system utilizing IoT and digital technology.
• aerospace technologyA disruptive technology that will revolutionize the traditional aviation industry and is the subject of long-term innovation investment.

Thus, Joby Aviation's overlap with multiple growth themes makes it an increasingly attractive investment target. In particularHigh affinity with themes with a long-term perspective, such as next-generation mobility and clean energyThe point is characterized by the following features.

Dividends?

Joby Aviation (JOBY) is not currently paying a dividend. The reason for this is clear: the company has made its growth strategy a top priority and is using the majority of its earnings for reinvestment. In particular, the company continues to make major capital investments and R&D expenditures, including the certification of its eVTOL aircraft for commercial service launch in 2026, the expansion of its manufacturing operations, and the development of its service operations infrastructure.

Who are Joby Aviation's (JOBY) competitors?

The eVTOL and urban air mobility market, of which Joby Aviation (JOBY) is a part, has extremely high technological barriers to entry, althoughSeveral leading companies are engaged in fierce competition.The competition is fierce in each of these areas. A certain amount of competition exists in each of the technology areas of aircraft design, electric propulsion, and autonomous flight.

Major Competitors

• Archer Aviation (ACHR): a U.S.-based eVTOL development company. The company aims to launch commercial services in 2025, with its strength in strategic alliances with United Airlines and Southwest Airlines.
• Lilium (LILM): A German electric aircraft company that has developed unique jet propulsion technology using 36 small ducted fans. Differentiates itself by specializing in long-range flight designs.
• EHChina-based autonomous flight eVTOL company. A pioneering company that was one of the first to realize commercial services with unmanned operations and has obtained approval for mass production in China.
• Borocopter (undisclosed)A German urban air mobility company that has established itself on the European market with the progress of certification from EASA and demonstration flights in Europe.
• Beta Technologies (privately held)A U.S. electric aircraft company that has built up a track record in the freight forwarding field through a logistics delivery contract with UPS.

What is the size and growth potential of the industry to which Joby Aviation (JOBY) belongs?

The eVTOL and urban air mobility industry, of which Joby Aviation (JOBY) is a part, goes beyond the traditional aviation industry.Innovative Growth MarketsAs such, explosive expansion is expected in the future. The following is a description of the size and growth potential of each related market.

Size and growth potential of the eVTOL aircraft market

• The global eVTOL aircraft market is,Approximately $1.7 billion scale as of 2023It is estimated that the market is still in its infancy and is an emerging market.
• The market is projected to grow at an impressive compound annual growth rate (CAGR) of 36.81 TP3T due to rapid technological advances and regulatory developments.
• Approximately $39 billion scale in 2033The market is expected to expand to approximately 23 times over the next 10 years.

Growth potential of the Urban Air Mobility (UAM) market

• In the overall urban air mobility market,From $43 billion in 2025 to $86.6 billion in 2034The growth of the market is projected to be to
• The average annual growth rate is expected to be strong at 8.11 TP3T, and demand is growing as a means of solving traffic congestion in urban areas.
• In particular, the introduction of these products in North America, Europe, and the Asia-Pacific region is accelerating regional market expansion.

growth driver

• Urbanization and Traffic Congestion ProblemsGlobal urbanization is increasing demand for transportation that cannot be met by conventional ground transportation.
• Strengthening of environmental regulations and expansion of ESG investment: Demand for zero-emission aircraft will be supported by policy
• Acceleration of technological innovationRapid advances in: battery technology, electric propulsion, and autonomous flight systems
• Regulatory EnvironmentEstablishment of an eVTOL certification framework by the FAA, EASA, and other aviation authorities
• Entry and investment by major firmsHuge investments by major companies such as: Toyota, Airbus, Boeing, etc.

Especially the eVTOL market, although it is still in the early stages of commercialization,Joby Aviation is in the closest position among them to obtain certification and begin commercial operations, and is likely to be a key player in the industry's future growth.

What are Joby Aviation's (JOBY) differentiators and advantages over the competition?

Joby Aviation (JOBY) has a limited number of competitors in the eVTOL and urban air mobility market,Distinctive differentiators in terms of technology, certification progress, strategic alliances, and operational structureThe main advantages are categorized and explained below.

Technical differentiation: proven flight performance and quiet technology

• Joby.Cumulative actual flight experience of more than 30,000 milesand has significantly more experience in technology demonstration than its competitors.
• Unique 6 electric motor design,Conversation-level (less than 65 decibels) quietnessand meets the noise standards required for operation in urban areas.
• Maximum speed 200 mph, range 100 milesThe company has an advantage in technical reliability in that its highly practical performance specification of "high reliability" has already been demonstrated in actual flights.

Leading Advantage in Certification and Regulatory Compliance

• In obtaining FAA (Federal Aviation Administration) type certification,Progress to 4th of 5 steps.The company has a significant lead over its competitors in terms of certification.
• Dubai and Abu Dhabi.Exclusive commercial operation agreementhas already been concluded, securing a concrete path for the actual start of service in 2026.
• Cooperation with international regulatory authoritiesand is ahead of other companies in its certification strategy for global expansion.

Strategic Alliances and Ecosystem Building Capabilities

• Total investment from Toyota of $894 millionand has secured world-class partnerships in manufacturing technology and supply chain.
• Delta Air Lines, Uberand other existing transportation infrastructure companies to secure a customer base and a foundation for service integration.
• Contracts with government agencies (NASA, U.S. Department of Defense)The company has proven its technical capabilities to be trusted by both the private sector and the government by

Advantages of a vertically integrated business model

• While other companies specialize in aircraft sales, JobyVertically integrated from aircraft manufacturing to service operationsThe company has adopted a business model based on
• Production, operation and maintenanceThe company is maximizing profit opportunities and centralizing quality control by integrating the
• Accumulated through in-house operationsOperational Data and Know-Howhas created a continuous feedback loop of technological improvement and safety enhancement.

With these elements, Joby Aviation is now,Comprehensive competitive advantage in the urban air mobility marketThe company has built a strong position in the market and is likely to achieve sustainable growth as the market expands in the future.

What are Joby Aviation's (JOBY) major alliances and partnerships?

In Joby Aviation's (JOBY) Success Strategy,Building Strategic Partnershipsis one of its key pillars. The company does not operate independently, but rather has established a comprehensive ecosystem, from technological development to commercial operations, by collaborating with the most suitable partners in each field. The following is an analysis of key partnerships.

Manufacturing and Technology Development Partnership: Strategic Alliance with Toyota

The most important partnership for Joby is,Comprehensive Partnership with Toyota Motor CorporationThe first is.

• Strategic investments totaling $894 million: Starting with the Series C investment in 2020, the company has decided to invest an additional $500 million in 2024. This makes Toyota the largest external shareholder of Joby.
• Transfer of manufacturing technology and quality control: Applying the best practices of the Toyota Production System (TPS) to eVTOL manufacturing, we have established a mass production system that meets high quality, high reliability, and strict cost standards.
• Supply Chain IntegrationToyota: Toyota has signed a long-term supply agreement for critical powertrain and actuation components and is responsible for supplying parts to Joby's San Carlos, California, manufacturing facility.
• Joint Technology DevelopmentThe two companies are working together to integrate their technical expertise in preparation for demonstration flights and commercial operations in Japan.

Airline Industry Partnerships: Integration with Existing Transportation Networks

Strategic Alliance with Delta Air Linesis at the core of Joby's commercialization strategy.

• Multi-city commercial and operating partnershipsSigned a five-year mutual exclusivity agreement for airport-to-airport transportation services in the U.S. and the U.K.
• Service Integration: Leverages Delta's customer base and network to provide seamless connections between existing air transportation and air cab services.
• Infrastructure Sharing: Maximize operational efficiency by installing vertiports and sharing ground services at Delta's hub airports.

The new partnership with Virgin Atlantic Airways (announced in March 2025) strengthens the company's expansion in the U.K. market.

• Operating rights throughout the United KingdomExclusive operation of regional and inter-city connection services based at: Heathrow and Manchester Airports.
• Cooperation with regulatory authoritiesVirgin's experience and influence in certification work with the UK's Civil Aviation Authority (CAA).
• Marketing Integration: Integration of the reservation system for Joby aircraft through Virgin's app and website to streamline customer acquisition.

Government-Military Partnerships: Establishing Technical Reliability

Contracts with the U.S. Department of Defense and Air ForceJoby has gained technical credibility at the government level by

• Delivery of aircraft to Edwards Air Force Base: A second aircraft will be delivered in the fourth quarter of 2024 for demonstration testing for military applications.
• Development of hydrogen hybrid technology: Contract with the Department of Defense for 561 miles of hydrogen-electric flight, establishing a leading edge in next-generation propulsion technology.
• Advanced Aviation Mobility Research with NASAIn parallel with the certification work with the Federal Aviation Administration, the company promotes research and development of technological innovations and safety improvements.

Middle East and International Development Partnership

With the strategic memorandum of understanding with Abdul Latif Jameel (June 2025), the company has begun a full-scale entry into the Middle East market.

• Exclusive distribution rights in the Saudi Arabian marketAircraft sales and related services contract for up to 200 aircraft valued at approximately $1 billion.
• Collaboration with Vision 2030In line with Saudi Arabia's national strategy, the company contributes to the country's urban transformation and socioeconomic growth.
• Local Integration ServicesThe company plans to develop a comprehensive business that includes: sales, operations, aftermarket services (MRO), and pilot training.

Exclusive contract for commercial operation in Dubai and Abu DhabiThe foundation for the world's first commercial service launch in 2026 has been secured through the

Through these multifaceted partnerships, Joby Aviation has been able to provide a level ofBusiness development and technological innovation on a global scaleThe company is simultaneously promoting the following In particular, the company's strategic alliances along the four axes of manufacturing partnership (Toyota), market access (airlines), technological reliability (government agencies), and regional deployment (international companies) are the source of its sustained competitive advantage.

What is Joby Aviation's (JOBY) progress toward FAA certification and commercial operations?

Joby Aviation's (JOBY) FAA Certification Progress Leads Entire eVTOL Industryleading indicatorThe company is attracting attention as a The company is in a five-step type certification process,Only one in the industry to reach the 4th levelThe company is now in the process of launching commercial operations, and is in the closest position to start commercial operations. A detailed progress analysis follows.

FAA Type Certification 5-Step Process and Current Progress

Phase 1: Certification Basis [Complete].

• Joby became the first eVTOL company in the industry to establish certification standards and the first to be published in the Federal Gazette.
• Defined the regulatory intent of safety rules and established the basic framework for FAA certification.

Phase 2: Means of Compliance [Complete].

• Announced completion in February 2023. Positioned as the first company in the industry to reach this goal.
• Identify ways to meet the regulatory intent of the safety rules defined in Phase 1.
• The FAA approved the means of compliance for 94%, and the remaining 6% was intentionally left in place to accommodate design changes.

Phase 3: Certification Plans [Complete].

• Announced completion in February 2024 as an industry first; Joby is the only company to reach 3 phases.
• Submit a certification plan covering the entire structural, mechanical, and electrical systems.
• Also approved certification approaches for cyber security, human factors, and noise.
• Finalized details of testing and analysis to certify all aspects of the aircraft for commercial use.

Phase 4: Testing and Analysis [ongoing, 40% completed].

• First FAA exam under Type Inspection Authorization (TIA) in December 2024.
• Simulator testing using FAA compliant flight deck: Four FAA test pilots completed Human Factors certification testing over a three-day period.
• FAA certification testing of major aerodynamic structures: First static load testing of FAA compliant tail structures, an industry first for certification testing of major structures.
• TIA flight tests scheduled to begin in 2025Plans for actual flight testing with the first FAA-compliant aircraft being manufactured at the Marina, California facility.
• component-level certification: Completed 30 FAA certification tests (flight electronic units and structural materials) in the fourth quarter of 2023.

Phase 5: Show and Verify [partially started].

• The start of the TIA exam allows for a partial transition to the final certification phase.
• It is positioned as the final step toward the start of commercial passenger service.

Non-FAA Regulatory Certification Progress

Part 145 Repair Station Certificate

• Obtained from the FAA and can perform aircraft specific maintenance activities.
• The company has met the key prerequisites for operating a commercial air cab service.

Expansion to International Certification

• Japan Civil Aviation Bureau (JCAB): Official application for validation of FAA type certification has been filed. Preparing for Asian market development in partnership with Toyota.
• UK Civil Aviation Authority (CAA): Formal application for aircraft use verification in July 2022. Promoted entry into the European market through a partnership with Virgin Atlantic.
• UAE Authorities: Concurrently working on certification for the start of commercial operations in Dubai in 2026.

Specific schedule for the start of commercial operations

Mid-2025: Delivery of aircraft to Dubai

• Conducted final flight test before commercial operation in Dubai.
• Final adjustment work to adapt to the operating environment in the Middle East region.

Late 2025 - early 2026: Initial passenger service begins

• World's first commercial eVTOL service to be launched in Dubai and Abu Dhabi.
• Pre-commercialization in international markets in parallel with the completion of FAA certification in the U.S.

After 2026: Full-scale commercial development

• Commercial service begins in the U.S.
• Integrated service operation with Delta Air Lines and Virgin Atlantic begins.

Joby's FAA certification progress is,Turning point from technological demonstration to practical applicationThe company has shown that it is a good example of what can be achieved. In particular, the start of TIA in December 2024 is a historic milestone for the entire eVTOL industry, proving the company's evolution from "closest to certification" to "on the verge of commercial operation".

What are the challenges of the flying car industry and Joby's response?

While the flying vehicle (eVTOL) industry has innovative technologies and huge market opportunities,Multiple technical, regulatory, and social structural challengesJoby Aviation (JOBY) is an industry leader in developing a comprehensive and progressive response to these challenges. As an industry leader, JOBY Aviation is developing a comprehensive and progressive response to these challenges.

Technical Challenge: Limitations of Battery Technology and Energy Density

Industry-wide challenges

• Energy Density ConstraintsThe current lithium-ion battery is about 300 Wh/kg, making it difficult to achieve both long-distance flight and weight constraints.
• Need for fast chargingThe battery must be recharged within a short period of time due to the high frequency of flights in commercial operations.
• Battery life and safetyAerospace applications require higher safety standards and long-term durability than automotive applications.

Joby's Response Strategy

• Utilization of silicon anode technologyNext-generation battery cell: Simultaneous improvement of energy density and rapid charging capability. Significantly improved discharge capacity and power supply at low SOC compared to conventional graphite anodes.
• Development of hydrogen hybrid technology: Demonstrate 561 miles of hydrogen electric flight in 2024, establishing a long-range flight capability that surpasses conventional battery limits.
• Development of dedicated aviation batteries: Instead of converting automotive batteries as they are,Safety, power, energy, cycle life, charging time, costWe have developed a cell dedicated to aviation that achieves the optimum balance of

Regulatory and Certification Issues: Institutional Development of New Aviation Categories

Industry-wide challenges

• Regulatory framework not yet in place: eVTOL does not fit into any existing aircraft category and requires a new certification standard.
• International Certification Harmonization: Unification of standards among regulators such as FAA, EASA, JCAB, etc. has not been completed.
• Pilot Qualification CriteriaThe following is a brief description of the new piloting qualifications: a new piloting qualification must be established that does not fall under either the traditional helicopter or fixed-wing aircraft category.

Joby's Response Strategy

• Close cooperation with regulatory authoritiesFAA: Established early cooperative relationships with the FAA, EASA, CAA, and JCAB, and actively participated in the development of certification standards. We are the only company in the industry to work with multiple regulatory authorities on parallel certification processes.
• Helped establish powered-lift categoryFAA: Pioneered the FAA certification process and was substantively involved in the institutional design of the new aircraft category.
• International Certification Strategy: Efficient global expansion based on standards certification in the U.S., leveraging mutual recognition agreements.

Infrastructure issues: vertiport development and airspace integration

Industry-wide challenges

• vertiport shortageTakeoff and landing facilities in urban areas are absolutely inadequate. Existing heliports cannot meet the demand for commercial operations.
• Airspace Integration: Safe coexistence of existing air traffic systems and eVTOL is technically complex.
• Power InfrastructureThe challenge is to secure the power capacity of recharging facilities and distribute the load to the distribution network.

Joby's Response Strategy

• Phased Infrastructure DeploymentRealistic approach: utilize existing airports and heliports in the initial period and expand dedicated vertiports as the market matures.
• Strategic Partnerships: Maximize utilization of existing infrastructure by using Delta's hub airport and Virgin's Heathrow-Manchester airport.
• Development of UTM (Unmanned Traffic Management) technology: Integrate IoT and digital technologies to create a smart airspace management system that harmonizes with existing air traffic.

Social acceptability issues: Noise and safety concerns

Industry-wide challenges

• noise problemNoise concerns of residents may be a barrier for permission to operate in urban areas.
• Safety concernsThe public's psychological resistance to new technologies and the impact on the industry as a whole in the event of an accident.
• Price AccessibilityThe high price tag in the initial phase limits the user base.

Joby's Response Strategy

• Industry's highest level of quietness: Quiet design of less than 65 decibels (conversational level) ensures social acceptability in urban areas. Significant noise reduction compared to conventional helicopters.
• Thorough safety demonstrationTechnical reliability is proven with concrete data based on a cumulative total of more than 30,000 miles of actual flight experience.
• Tiered pricing strategyThe company plans to expand the market by offering premium services in the initial period and by setting prices similar to ride-sharing services in the period of popularization.

Business Continuity Issues: Financing and Monetization

Industry-wide challenges

• Huge development investmentThe investment required to obtain certification is several tens of billions of yen, and many companies face the risk of running out of funds.
• Profitability during market start-up phase: High cost and low utilization in the initial operation make it difficult to make it profitable.
• intensification of competition: There are more than 300 eVTOL companies, and it is estimated that only about 51 TP3T will ultimately survive.

Joby's Response Strategy

• Strong Financial Base: $933 million in cash, cash equivalents, and investments in marketable securities in Q4 2024. An additional $500 million investment from Toyota has also been secured.
• Vertically integrated business modelAircraft sales, service operation, and maintenance are integrated to secure a diversified revenue source.
• Maximize first-mover advantage: Established overwhelming superiority in brand value, operational know-how, and market share by launching the world's first commercial service.

Joby Aviation's response to the challenge,Technological innovation, regulatory cooperation, strategic alliances, and social value creationThe company is characterized by a comprehensive approach that integrates Rather than simply solving problems, the company transforms the problem-solving process itself into a competitive advantage, simultaneously promoting the formulation of industry standards and the creation of markets.

Joby Aviation (JOBY) Financial Results

Joby Aviation's (JOBY) financial year ends on December 31. The schedule for the announcement of quarterly financial results is as follows

• First Quarter (Q1)Early to mid-April
• Q2 (Q2)Early August
• 3Q (Q3)Early to mid-November
• Q4 (Q4)and full year closing: early to mid March of the following year

Joby Aviation (JOBY) Stock Price

View the current real-time stock price chart (TradingView) for Joby Aviation (JOBY).

The chart shows the Relative Strength Index (RSI). Reference as an indicator of market overheating.

*An overbought indicator when the RSI exceeds 70% to 80%, and conversely, an oversold indicator when the RSI falls below 20% to 30%.

What is the future outlook for Joby Aviation (JOBY) and its stock price?

Joby Aviation's (JOBY) future potential is in addition to its current leading position in the eVTOL market,Next-generation mobility revolution, clean energy transition, urbanization progressIt is rated extremely high in that it is strongly linked to three major megatrends: the

Commercialization strategy: Establish position as the world's first eVTOL service provider

• By the start of commercial service in Dubai in 2026,World's first full-scale eVTOL air cab operatorThe company is expected to achieve a historic position as a
• By reaching the final stage of FAA certification and obtaining operating permits in multiple regions,Transition from technological demonstration to practical applicationThe company is becoming a pioneer in the realization of
• Through a manufacturing alliance with Toyota,Establishment of mass production system for several thousand machines per yearis now possible, ensuring scalability as the market expands.

Market expansion and ecosystem formation: Growth into a core company in urban transportation infrastructure

• The global urbanization has made it difficult to cope with conventional ground transportation.Demand for travel in metropolitan areasis expanding rapidly.
• Through a strategic alliance with Delta Air Lines and Uber,Integration with existing transportation networkIt is expected to realize seamless multi-modal transportation services by
• Through cooperation with government agencies,Transportation infrastructure integration at the urban planning levelThe company is expanding its influence in the

Technological Innovation and Competitive Advantage: Establishing a Foundation for Sustainable Growth

• Accumulated through a total of 30,000 miles of flight experienceOperational Data and Know-Howsupports continuous technological improvement and safety enhancement.
• Development of hydrogen electric aircraft, etc,Upfront investment in next-generation propulsion technologyThe company has secured a long-term technological advantage by
• Through a vertically integrated business model,Consistent quality control from production to operation and profit maximizationThe company has achieved a

Taken together, these factors suggest that Joby Aviation could be a long-term industry leader as a "creator of the urban air mobility market. Despite the short-term volatility of its stock price, it is a core stock for next-generation mobility investment as one of the few companies that combine technological innovation and market creation.

Joby Aviation (JOBY) Q1 FY2025 Financial Summary

Announcement date: 25/05/08

Sales and Revenues

• Annual Sales: No first quarter sales recorded (and virtually no flight service sales)
• GAAP Net Income: ($82,406,000) ($94,587,000 in the same period of the previous year)
• Adjusted Net Income (Non-GAAP): Not disclosed
• Adjusted EBITDA: (-$127,133,000) (-$110,373,000 in the same period of the previous year)
• Other Indicators: Recognized a $71.02 million gain from a fair value review of warrant earn-outs

Operating Expenses and Profits

• GAAP operating expenses: 163,284,000 (including $134,287,000 in R&D expenses, +16% YoY)
• Non-GAAP operating expenses: Not disclosed (but stock-based compensation is $27,019,000)
• EBITDA loss (if any): See above
• Adjusted net loss: Not disclosed

Contracts and Orders (Bookings)

• Annual Orders Received: Not disclosed
• First quarter orders: Not disclosed (but business contracts are in progress for Virgin Atlantic and UAE)
• Number of contracted clients: Not disclosed
• Large customer composition: U.S. Department of Defense (DoD), Virgin Atlantic (UK), Government of Dubai, etc.

Cash and Financial Position

• Cash balances (year-end): 812,524,000 (including short-term investments)
• Movements such as borrowing and repayment: Toyota has committed to invest $500 million ($125 million to be reflected in Q2)
• Free Cash Flow (FCF): ▲$110.97 million (expanded from the same period of the previous year)

Technology and Business Highlights

• Product development and technological achievements:
  • Multiple successful manned vertical takeoff to horizontal transition flights
  • At the 4th stage of certification, 43% progress on the FAA side and 62% on the company side (progress from the previous year)
• Partnerships and employment cases:
  • Partnering with Virgin Atlantic to deploy eVTOL in the U.K. (from Heathrow and Manchester)
  • Also promoting manned test flights and infrastructure construction in Dubai, UAE
• Market position:
  • Accelerating certification, manufacturing, and commercial readiness as a leading company for the world's first regular eVTOL operation

2025 Guidance (or guidance for the following year)

• Sales Forecast: Not disclosed (commercial service launch targeted for early 2026)
• EBITDA Forecast: Cash consumption is expected to be $500-540 million per year
• Other Points of Interest:
  • First $250 million Toyota investment expected to arrive (recorded in Q2)
  • Expansion of manufacturing site and training facility nearing completion (Marina, CA)

Joby has made significant progress in the FAA certification process and achieved a successful manned flight in Q1 2025, and is taking solid steps toward commercial operations. Although sales have not yet been generated, the company is building manufacturing capacity and financial footing, with partnerships with major companies such as Toyota and Virgin Atlantic. While cash consumption remains significant, the company is solidifying its position as a serious contender in the eVTOL market, and all eyes are on the company to turn a profit and launch operations in 2026 and beyond.

Which brokerage firm can I buy shares of Joby Aviation (JOBY)?

The following is a list of major brokerages that offer shares of JOBY Aviation (JOBY). At these brokerages, you can choose to invest as a CFD (Contract for Difference) as well as directly as a foreign stock.

I myself mainly use SBI Securities, but some stocks they handle may not be available for purchase. In such cases, I sometimes use CFDs at Saxo Bank Securities or IG Securities.

summary

We have looked extensively at Joby Aviation's (JOBY) business, core services, business model, competitive landscape, growth markets, stock price characteristics, and prospects. 

In particular, as the demand for urban air mobility expands dramatically with the rise of the eVTOL market, jobbies will play an increasingly important role in the future.

Although the company is still in the pre-commercial service stage at this point, it is a rare growth stock that is steadily taking steps toward commercialization, including a strategic alliance with Toyota, progress in FAA certification, and preparations to begin operations in Dubai, making it an attractive investment target from a medium- to long-term perspective.

Personally, among next-generation mobility-related stocks, Joby Aviation is one in particular that I will be keeping a close eye on as it combines both "technology x market creation". At a tipping point where the concept of urban transportation is fundamentally changing, JOBY may be a central player.