Joby has published its quarterly financial results and in a letter to shareholders declared that at the end of the fourth quarter 2022 “we had USD1.1 billion in cash and short-term investments”.
Other highlights included in the letter to shareholders included:
- “Means of Compliance Complete: Effective completion of the second of five stages required by the Federal Aviation Administration (FAA) to certify aircraft for commercial passenger use.
- “Certification Progress: Substantial progress made in the later stages of the type certification process, with an additional four Area Specific Certification Plans (ASCPs) submitted to the FAA, a total of five ASCPs now accepted, and the successful completion of the second of four System Review stages.
- “Final Assembly Begins: Final assembly begun of the first aircraft to be manufactured on pilot production line.
- “Net cash used in operating activities and purchases of property and equipment totalled USD291 million in 2022, with USD84 million spent in the fourth quarter.
- “Net loss of USD66.9 million reflected operating expenses of USD101.4 million partially offset by other income of USD34.5 million.”
For more information