Joby Aviation (NYSE:JOBY) reported first-quarter financial results that beat analyst estimates Tuesday after market close.
Here are the key highlights.
• Joby Aviation stock is gaining positive traction. Why are JOBY shares climbing?
Joby Q1 Financials
Joby reported first-quarter revenue of $24.25 million, beating a Street consensus estimate of $20.20 million, according to data from Benzinga Pro.
The company reported a loss of 12 cents per share, beating a Street consensus estimate of a loss of 20 cents per share.
Joby ended the first quarter with $2.5 billion in cash and cash equivalents.
The first quarter was highlighted by several company milestones and updates on what comes next. This includes the 2026 Electric Skies Tour, which kicked off in March with flight demonstrations and other events planned to coincide with the 250th anniversary of the U.S.
Joby completed the first-ever point-to-point electric vertical takeoff and landing (eVTOL) flight for New York City in April.
What's Next for Joby
The company expects initial operations to begin in 2026. As part of the White House eVTOL Integration Pilot Program, Joby can begin early operations in up to 11 states ahead of FAA type certification.
This includes operations in New York, Texas, and Florida, among others.
Joby also continues to work towards full FAA certification.
"With our world-leading demos behind us and the eIPP program ahead, communities across America aren't just reading about the future of flight anymore, they're seeing it in the skies above their own cities," Joby CEO JoeBen Bevirt said. "We are ringing in the next golden age of flight."
Bevirt said the company has "the clearest path we've ever had to beginning passenger operations."
Joby Stock Price Action
Joby stock is up 1.04% to $8.77 in after-hours trading Tuesday versus a 52-week trading range of $6.18 to $20.95.
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