Joby Aviation yesterday issued its Third Quarter 2025 Shareholder Letter detailing the company’s operational and financial results for the quarter ending September 30, 2025.
Joby ended the quarter with USD978.1 million in cash, cash equivalents, and investments in marketable securities, according to a company press statement. “Additionally, in October 2025, the company completed an underwritten equity offering. Net proceeds from the offering were approximately USD576 million and are expected to be used to support certification and manufacturing efforts, prepare for commercial operations, and provide general working capital and other corporate purposes.”
Third Quarter 2025 highlights also included:
Final stage of certification: Joby has begun power-on testing of the first of several FAA-conforming aircraft to be built for Type Inspection Authorization (TIA). TIA testing is part of the final stage of the FAA Type Certification process and the company can now begin conducting thousands of hardware and software tests in preparation for “for credit” flight testing with FAA test pilots operating the aircraft.
Maturing flight operations: Joby has already conducted over 600 flights in 2025, along with thousands of ground-based tests. The company completed its first point-to-point flight from Marina to Monterey, demonstrating its commercial market readiness and ability to operate in shared airspace. The company also completed two full weeks of regularly scheduled flights in Osaka, as part of World Expo 2025, demonstrating the aircraft to hundreds of thousands of attendees, and participated in its first public U.S. airshow in Salinas, California.
White House support for eVTOL: The eVTOL Integration Pilot Program (“eIPP”), established by Executive Order, is designed to allow mature aircraft designs to demonstrate eVTOL use cases, such as passenger transportation, cargo delivery, and emergency response, ahead of achieving Type Certification and “presents a remarkable opportunity for Joby to introduce its technology to communities across America,” said the company. Joby is actively engaged with a wide range of state and local governments across the country who are submitting applications for eIPP projects.
Scaling production capacity: Joby added more than 100 manufacturing roles and has now begun production of propeller blades at its facility in Dayton, Ohio, marking the first phase of its scaled production strategy. The company has already produced 15 times more type design conforming parts than it did in all of 2024.
Commercial readiness: The recently-acquired Blade passenger service transported approximately 40,000 passengers during the quarter, including Ryder Cup fans, who replaced two-and-half hour drives with 12 minute flights. Joby also expanded its global partnership with Uber to incorporate Blade’s services directly into the Uber app, providing an opportunity to connect millions of daily Uber users with the potential of vertical lift ahead of Joby’s commercial launch.
Future technology platform: Just three months after announcing its partnership with L3Harris, Joby began ground testing the hybrid-electric autonomous aircraft it is developing for U.S. Defense purposes. Joby also successfully demonstrated its autonomous flight technology, Superpilot™, during a major defense exercise over the Pacific Ocean. Superpilot™ logged more than 7,000 miles of autonomous operations across more than 40 flight hours in the skies above Hawaii. Joby’s adoption of the NVIDIA IGX Thor platform will enable further advancement of autonomous flight technology by providing the company with access to sector-leading, industrial-grade compute power.
For more information
https://www.jobyaviation.com/news/joby-reports-third-quarter-2025-financial-results/