Joby Aviation, Inc. (JOBY) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 3, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the JOBY SEC filings page.
Joby Aviation, Inc. (JOBY) reported $53.4M in revenue for fiscal year 2025, up 39183.1% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Joby remains an equity-funded development business: revenue is emerging, but research spending and cash needs still dominate operations.
The 2025 revenue base reached$53.4M , yet R&D spending was$581.1M and operating cash flow was-$509.9M ; revenue is still too small to absorb the cost of building the business.
Assets expanded from
Operating cash flow of
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Joby Aviation, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Joby Aviation, Inc. held $1.4B in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $509.9M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Joby Aviation, Inc. scores 58/100 among other emerging companies.
Joby Aviation, Inc. had 979M shares outstanding at the end of fiscal year 2025, against 788M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Joby Aviation, Inc. scores 37/100 among other emerging companies.
Joby Aviation, Inc. spent $581.1M on research and development in fiscal year 2025, which was 75.2% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Joby Aviation, Inc. scores 94/100 among other emerging companies.
Joby Aviation, Inc. reported revenue of $53.4M in fiscal year 2025, against $136K in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Joby Aviation, Inc. scores 97/100 among other emerging companies.
Joby Aviation, Inc.'s operations used $509.9M of cash in fiscal year 2025, against $436.3M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Joby Aviation, Inc. scores 25/100 among other emerging companies.
Joby Aviation, Inc.'s cash, cash equivalents and investments came to $1.4B at the end of fiscal year 2025, against $385.4M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Joby Aviation, Inc. scores 85/100 among other emerging companies.
Joby Aviation, Inc. scores 6.69, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($5.9B) relative to total liabilities ($385.4M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Joby Aviation, Inc. passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
Joby Aviation, Inc. reported a net loss of $929.8M while operations used $509.9M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Joby Aviation, Inc. generated $38.6M in revenue in Q2 2026. This represents an increase of 257493.3% from the same quarter a year earlier. Against the prior quarter it is up 59.4%.
Joby Aviation, Inc.'s EBITDA was -$251.1M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 57.6% from the same quarter a year earlier. Against the prior quarter it is down 12.8%.
Joby Aviation, Inc. reported -$245.4M in net income in Q2 2026. This represents an increase of 24.4% from the same quarter a year earlier. Against the prior quarter it is down 123.2%.
Joby Aviation, Inc. earned -$0.25 per diluted share (EPS) in Q2 2026. This represents an increase of 39.0% from the same quarter a year earlier. Against the prior quarter it is down 108.3%.
Cash & Balance Sheet
Joby Aviation, Inc. recorded an outflow of $201.8M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 70.0% from the same quarter a year earlier. Against the prior quarter it is up 9.3%.
Joby Aviation, Inc. held $629.9M in cash against $701.9M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Joby Aviation, Inc.'s ROE was -13.9% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 22.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 8.3 percentage points.
Not reported for Q2 2026.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Joby Aviation, Inc. invested $194.7M in research and development in Q2 2026. This represents an increase of 42.7% from the same quarter a year earlier. Against the prior quarter it is up 9.7%.
Joby Aviation, Inc. invested $28.6M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 136.0% from the same quarter a year earlier. Against the prior quarter it is down 63.2%.
Not reported for Q2 2026.
JOBY Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $38.6M+257493.3% | $24.2M | N/A | $22.6M+80521.4% | $15K-46.4% | $0-100.0% | $55K | $28K |
| R&D Expenses | $194.7M+42.7% | $177.5M+32.2% | N/A | $149.2M+18.3% | $136.4M+20.7% | $134.3M+16.1% | $122.4M | $126.1M+25.4% |
| SG&A Expenses | $76.6M+143.2% | $61.6M+112.3% | N/A | $45.0M+47.3% | $31.5M+0.6% | $29.0M-4.2% | $27.5M | $30.6M+10.7% |
| Operating Income | -$260.9M-55.4% | -$233.6M-43.1% | N/A | -$181.7M-15.9% | -$167.9M-16.3% | -$163.3M-11.9% | -$149.9M | -$156.7M-22.3% |
| EBITDA | -$251.1M-57.6% | -$222.6M-44.4% | N/A | -$171.5M-16.0% | -$159.4M-17.5% | -$154.2M-12.2% | -$140.4M | -$147.8M-22.7% |
| Income Tax | $142K+34.0% | $168K+320.0% | N/A | $83K-85.0% | $106K+960.0% | $40K+11.1% | -$470K | $553K+1875.0% |
| Net Income | -$245.4M+24.4% | -$110.0M-33.4% | N/A | -$401.2M-178.9% | -$324.7M-163.3% | -$82.4M+12.9% | -$246.3M | -$143.9M-9534.6% |
| EPS (Basic) | -$0.25+39.0% | -$0.12-9.1% | -$0.12+64.7% | -$0.48-128.6% | -$0.41-127.8% | -$0.11+21.4% | -$0.34-100.0% | -$0.21 |
| EPS (Diluted) | -$0.25+39.0% | -$0.12-9.1% | -$0.12+64.7% | -$0.48-128.6% | -$0.41-127.8% | -$0.11+21.4% | -$0.34-100.0% | -$0.21 |
| Diluted Shares (Avg) | 970M+21.7% | 944M+23.0% | N/A | 845M+21.5% | 797M+15.6% | 767M+12.5% | N/A | 695M+0.5% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, Interest Expense.
JOBY Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.8B+118.4% | $2.9B+170.1% | $1.8B+49.2% | $1.4B+41.7% | $1.3B+16.9% | $1.1B-6.9% | $1.2B-5.2% | $964.3M-28.6% |
| Current Assets | $2.3B+128.3% | $2.5B+198.5% | $1.4B+49.1% | $1.0B+38.1% | $1.0B+18.3% | $841.5M-11.6% | $969.6M-8.2% | $737.8M-35.2% |
| Cash & Equivalents | $629.9M+87.3% | $874.5M+615.1% | $240.8M+20.6% | $208.4M+36.8% | $336.3M+92.1% | $122.3M+10.6% | $199.6M-2.2% | $152.3M-68.3% |
| Short-Term Investments | $1.6B+149.6% | $1.6B+130.6% | $1.2B+59.2% | $769.8M+38.0% | $654.7M+0.7% | $690.2M-15.1% | $733.2M-11.5% | $557.7M-11.8% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $89.4M+524.1% | $89.4M+524.1% | $89.4M+524.4% | $90.4M+531.2% | $14.3M0.0% | $14.3M+2.2% | $14.3M+2.2% | $14.3M+2.2% |
| Total Liabilities | $985.5M+172.5% | $969.9M+331.9% | $385.4M+32.4% | $469.9M+156.4% | $361.6M+97.3% | $224.6M+18.7% | $291.1M+23.8% | $183.2M-23.7% |
| Current Liabilities | $128.9M+118.8% | $113.9M+139.8% | $60.0M+24.7% | $74.9M+63.6% | $58.9M+36.5% | $47.5M+24.2% | $48.1M+6.6% | $45.8M-8.4% |
| Non-Current Liabilities | $856.6M+183.0% | $856.1M+383.4% | $325.3M+33.9% | $395.0M+187.4% | $302.7M+116.1% | $177.1M+17.3% | $243.0M+27.9% | $137.5M-27.8% |
| Long-Term Debt | $701.9M | $701.1M | $0 | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $1.8B+96.7% | $2.0B+127.8% | $1.4B+54.5% | $896.5M+14.8% | $898.3M+0.4% | $859.4M-11.9% | $912.4M-11.8% | $781.0M-29.6% |
| Retained Earnings | -$3.1B-38.8% | -$2.9B-49.4% | -$2.8B-50.1% | -$2.7B-65.5% | -$2.3B-54.4% | -$1.9B-44.4% | -$1.9B-48.7% | -$1.6B-42.1% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable.
JOBY Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$173.1M-62.5% | -$144.4M-30.2% | -$153.2M-27.1% | -$139.2M-26.2% | -$106.6M-7.8% | -$111.0M-4.1% | -$120.5M-44.6% | -$110.3M-37.6% |
| Depreciation & Amortization | $9.8M+15.3% | $11.0M+20.3% | $11.1M+16.7% | $10.2M+14.6% | $8.5M-2.3% | $9.1M+7.3% | $9.5M+16.4% | $8.9M+15.6% |
| Stock-Based Compensation | $52.0M+95.7% | $44.0M+63.0% | N/A | $32.9M+20.0% | $26.6M-6.4% | $27.0M0.0% | N/A | $27.4M+0.5% |
| Capital Expenditures | $28.6M+136.0% | $77.9M+421.1% | $13.8M-10.4% | $13.0M+32.1% | $12.1M+43.6% | $15.0M+117.2% | $15.4M+96.0% | $9.9M+14.8% |
| Free Cash Flow | -$201.8M-70.0% | -$222.4M-76.6% | -$167.0M-22.9% | -$152.2M-26.7% | -$118.7M-10.6% | -$125.9M-10.9% | -$135.9M-49.0% | -$120.2M-35.4% |
| Investing Cash Flow | -$73.8M-400.6% | -$505.5M-1700.1% | -$408.5M-116.6% | -$123.1M-239.6% | $24.6M-84.5% | $31.6M+150.2% | -$188.6M+4.0% | $88.1M-50.5% |
| Financing Cash Flow | $7.7M-97.4% | $1.3B+62728.5% | $594.0M+66.6% | $134.7M+21372.0% | $296.0M+6137.1% | $2.0M+279.7% | $356.5M+10421.4% | -$633K-1878.1% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
JOBY Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | -675.2% | -963.4% | N/A | -804.8% | -1119093.3% | N/A | -272500.0% | -559625.0% |
| Net Margin | -635.2% | -453.5% | N/A | -1777.4% | -2164493.3% | N/A | -447776.4% | -513850.0% |
| Return on Equity | -13.9%+22.3pp | -5.6%+4.0pp | N/A | -44.8%-26.3pp | -36.1%-22.4pp | -9.6%+0.1pp | -27.0% | -18.4%-18.6pp |
| Return on Assets | -8.9%+16.8pp | -3.8%+3.8pp | N/A | -29.4%-14.5pp | -25.8%-14.3pp | -7.6%+0.5pp | -20.5% | -14.9%-15.0pp |
| Current Ratio | 17.98+0.8x | 22.05+4.3x | 24.09+3.9x | 13.61-2.5x | 17.23-2.6x | 17.72-7.2x | 20.14-3.2x | 16.12-6.7x |
| Debt-to-Equity | 0.400.0x | 0.36+0.1x | 0.00-0.3x | 0.52+0.3x | 0.40+0.2x | 0.26+0.1x | 0.32+0.1x | 0.230.0x |
| Asset Turnover | 0.010.0x | 0.010.0x | N/A | 0.020.0x | 0.000.0x | 0.000.0x | 0.00 | 0.000.0x |
| FCF Margin | -522.2% | -917.1% | N/A | -674.3% | -791333.3% | N/A | -247123.6% | -429128.6% |
Not reported in any period shown, so not listed: Gross Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Joby Aviation, Inc. JOBY | FY2025 | $53.4M | -$929.8M | N/A | $5.9B | 66/100 |
| Grupo Aeroportuario del Sureste, S.A. de C.V. ASR | FY2025 | N/A | $18.5M | N/A | $7.0B | — |
| Corporacion America Airports S.A. CAAP | FY2025 | $2.0B | $257.7M | 13.1% | $4.0B | 49/100 |
| Booz Allen Hamilton Holding Corporation BAH | FY2026 | $11.2B | $850.5M | 7.6% | $8.1B | 54/100 |
| UL Solutions Inc. ULS | FY2025 | $3.1B | $325.0M | 10.7% | $13.3B | 68/100 |
Where Joby Aviation, Inc. Ranks
Frequently Asked Questions
What is Joby Aviation, Inc.'s annual revenue?
Joby Aviation, Inc. (JOBY) reported $53.4M in total revenue for fiscal year 2025. This represents a 39183.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Joby Aviation, Inc.'s revenue growing?
Joby Aviation, Inc. (JOBY) revenue grew by 39183.1% year-over-year, from $136K to $53.4M in fiscal year 2025.
Is Joby Aviation, Inc. profitable?
No, Joby Aviation, Inc. (JOBY) reported a net income of -$929.8M in fiscal year 2025.
What is Joby Aviation, Inc.'s EBITDA?
Joby Aviation, Inc. (JOBY) had EBITDA of -$679.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Joby Aviation, Inc. have?
As of fiscal year 2025, Joby Aviation, Inc. (JOBY) had $240.8M in cash and equivalents against $0 in long-term debt.
What is Joby Aviation, Inc.'s return on equity (ROE)?
Joby Aviation, Inc. (JOBY) has a return on equity of -66.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Joby Aviation, Inc.'s free cash flow?
Joby Aviation, Inc. (JOBY) recorded an outflow of $563.8M in free cash flow during fiscal year 2025. This represents a -18.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Joby Aviation, Inc.'s operating cash flow?
Joby Aviation, Inc. (JOBY) recorded an outflow of $509.9M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Joby Aviation, Inc.'s total assets?
Joby Aviation, Inc. (JOBY) had $1.8B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Joby Aviation, Inc.'s capital expenditures?
Joby Aviation, Inc. (JOBY) invested $53.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Joby Aviation, Inc. spend on research and development?
Joby Aviation, Inc. (JOBY) invested $581.1M in research and development during fiscal year 2025.
What is Joby Aviation, Inc.'s current ratio?
Joby Aviation, Inc. (JOBY) had a current ratio of 24.09 as of fiscal year 2025, which is generally considered healthy.
What is Joby Aviation, Inc.'s debt-to-equity ratio?
Joby Aviation, Inc. (JOBY) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Joby Aviation, Inc.'s return on assets (ROA)?
Joby Aviation, Inc. (JOBY) had a return on assets of -51.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Joby Aviation, Inc.'s P/E ratio?
Joby Aviation, Inc. (JOBY) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $5.9B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Joby Aviation, Inc.'s price-to-sales ratio?
Joby Aviation, Inc. (JOBY) trades at 111x sales, its market capitalization divided by revenue of $53.4M revenue, FY2025. The market capitalization is $5.9B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Joby Aviation, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Joby Aviation, Inc. (JOBY) held $1.4B in cash, cash equivalents and investments, and reported an operating cash outflow of $509.9M over that year. Dividing the one by the other, the reported balance equals about 33 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Joby Aviation, Inc.'s Altman Z-Score?
Joby Aviation, Inc. (JOBY) has an Altman Z-Score of 6.69, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Joby Aviation, Inc.'s Piotroski F-Score?
Joby Aviation, Inc. (JOBY) has a Piotroski F-Score of 3 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Joby Aviation, Inc.'s earnings high quality?
Joby Aviation, Inc. (JOBY) reported a net loss of $929.8M while operations used $509.9M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Joby Aviation, Inc.?
Joby Aviation, Inc. (JOBY) scores 66 out of 100 on our Financial Health Score, indicating strong standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.