Key Highlights
- Q2 revenue reached $38.6 million, surpassing Wall Street’s $30 million forecast by 33%
- Quarterly operating loss expanded to $260.9 million versus the anticipated $210 million deficit
- Full-year 2026 revenue outlook increased to $120 million from previous $110 million projection
- Shares gained 3.2% to $8.05 in premarket activity after earnings announcement
- FAA certification for the company’s eVTOL aircraft anticipated between late 2026 and early 2027
Joby Aviation delivered second-quarter revenue totaling $38.6 million, significantly exceeding the $30 million consensus forecast from analysts. Shares climbed 3.2% during Thursday’s premarket session, reaching $8.05 per share.
The stronger-than-expected top-line performance stemmed primarily from the company’s air-taxi services following its acquisition of Blade Air Mobility’s helicopter operations in 2025. During the same period last year, Joby recorded virtually no revenue.
However, the company’s operating deficit widened to $260.9 million during the quarter. This exceeded the analyst consensus of $210 million and represented an increase from the $168 million loss recorded in the second quarter of 2025.
Regarding earnings, Joby reported a per-share loss of $0.25. This compared unfavorably to the Zacks consensus estimate calling for a $0.23 loss, representing a modest miss on profitability metrics.
The company has successfully exceeded revenue projections for four consecutive quarters, although it has fallen short of EPS expectations throughout this period.
Updated Financial Outlook
Company leadership increased its full-year 2026 revenue projection to roughly $120 million, representing an uptick from the previous $110 million estimate. This new target exceeds Wall Street’s current $117 million consensus forecast.
The company is presently running the Blade helicopter operations. Leadership intends to transition to Joby’s proprietary eVTOL aircraft following FAA certification, which is targeted for completion in late 2026 or early 2027.
According to the company, it has entered the fifth and concluding phase of FAA type certification. Currently, five electric air taxis are operational, including its initial FAA-conforming model. An additional twelve aircraft are in different production phases, with two scheduled for delivery within the current year.
“We continue to make important progress on certification and production,” the company stated in its announcement.
Shares Remain Challenged Year-to-Date
Notwithstanding the revenue outperformance and improved guidance, JOBY stock continues facing significant headwinds. As of Wednesday’s market close, shares had declined approximately 41% year-to-date and tumbled roughly 60% over the trailing twelve months.
In contrast, the S&P 500 has advanced approximately 13% during the current year.
Following the earnings release, Cantor Fitzgerald analyst Andres Sheppard reaffirmed a Neutral rating on the shares. He characterized Joby as “an industry leader in advanced air mobility” and “among the best-positioned in the eVTOL industry to achieve commercialization,” though noted he was seeking a more favorable entry price and additional clarity regarding unit economics.
Zacks presently assigns JOBY a Rank 4 (Sell), citing unfavorable estimate revision trends preceding the earnings announcement.
Analysts currently project a loss of $0.23 per share for the upcoming quarter on revenues of $38.3 million. For the complete fiscal year, consensus estimates anticipate a $0.79 per share loss on total revenue of $116.67 million.
Joby’s Aerospace and Defense sector is positioned within the top 40% of industries monitored by Zacks.
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