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Joby Aviation

SPublic (NYSE: JOBY)Founded 2009🇺🇸Santa Cruz, California
CEO

JoeBen Bevirt

Data verified as of Jul 20, 2026

Summary

Joby Aviation is a California-based transportation company developing a piloted, all-electric air taxi for commercial passenger service. The company completed FAA Stage 4 certification in late March 2026 and is now in Stage 5 (Type Inspection Authorization), the final gate before U.S. commercial type certification, which analysts expect in late 2026. Joby demonstrated the first-ever eVTOL point-to-point flight from JFK Airport to Manhattan in April 2026, and on July 7, 2026 the UAE's GCAA certified its flagship Dubai vertiport (VDX at DXB) as the world's first certified commercial eVTOL vertiport, clearing the network for a public launch directed before year-end. The company ended Q1 2026 with $2.5B in cash. Joby expects to carry its first paying passengers in the UAE and through the White House-backed eIPP program in the U.S. in 2026.

Company OverviewRead the long-form profile of Joby Aviation

Main Products

Joby S4

Joby S4

In Certification

Five-seat (1 pilot + 4 passengers) all-electric VTOL aircraft with six tilting propellers. Designed for urban air mobility with a top speed of 200 mph, a range of up to 100 miles, and a low acoustic footprint suitable for dense cities. It takes off and lands vertically, then transitions to efficient wing-borne cruise flight.

FAA Stage 4 completed March 2026. Now in Stage 5 (TIA) — the final certification gate. Nine conforming aircraft parts in production; five designated for TIA testing. FAA type certificate expected late 2026.

Passengers4 + 1 pilot
RangeUp to 100 miles
Top Speed200 mph
Propellers6 tilting electric

What's Next

Complete FAA Stage 5 (TIA) and receive U.S. type certificate

Joby is in Stage 5 — the final FAA certification gate — with TIA flight testing underway on its first production-conforming aircraft (N547JX). Joby pilots are flying the initial campaign to set up the decisive step: FAA pilots taking the controls for the rigorous 'for credit' TIA inspection flights at Joby's Marina, California facility later in 2026, validating range, speed, and energy management under operational conditions. Analysts expect the U.S. type certificate by late 2026, which would be the first ever granted to a commercial eVTOL in U.S. history.

Late 2026

Begin first passenger operations in UAE and U.S. eIPP markets

Joby's Dubai vertiport network cleared a decisive hurdle on July 7, 2026 when the GCAA certified the flagship VDX vertiport at DXB — the world's first certified commercial eVTOL vertiport — with public service across the four-node network (VDX/DXB, American University of Dubai, Palm Jumeirah, Dubai Mall) directed to launch before the end of 2026, subject to Joby completing final GCAA operational certification. In the U.S., management expects to sign eIPP agreements in Q3 2026, with supervised operations of both its eVTOL and autonomous platforms targeted to begin in the back half of the year — across markets including NY/NJ, TX, FL, NC, and UT — ahead of full type certification, with the JFK–Manhattan corridor a leading candidate for early service.

H2 2026

Scale manufacturing at Ohio and California facilities

Bring Joby's expanded Dayton, Ohio footprint online — including the second, 700,000+ sq ft Ohio facility it agreed to acquire in January 2026 — and ramp propeller blade and component manufacturing across both California and Ohio sites. The composites team is already producing roughly 2.5x more parts than a year earlier, supporting a plan to roughly double U.S. capacity to four aircraft per month by 2027.

2027

Recent News

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Operations & Revenue

StatusCommercial launch preparation — Stage 5 TIA underway

Joby completed FAA Stage 4 in late March 2026 and is now in Stage 5 (TIA), the final certification gate before a U.S. commercial certificate. In Dubai, the GCAA certified the flagship VDX vertiport next to DXB on July 7, 2026 — the world's first certified commercial eVTOL vertiport — anchoring the four-node network (also American University of Dubai, Palm Jumeirah, Dubai Mall) that Joby's S4 will fly, with public service directed to launch before the end of 2026. First U.S. passenger operations are targeted under the White House-backed eIPP program in up to 11 states. Company holds $2.5B in cash as of Q1 2026 end.

Revenue Streams

Passenger Air Mobility Services

Current passenger revenue comes from Blade's helicopter and charter network, which Joby acquired in 2025. Joby plans to use that operating base and customer demand to transition key corridors over time to its own all-electric aircraft.

Aircraft Sales and Partner Services

Joby intends to both operate its own air taxi network and sell aircraft to other operators and partners, using relationships with companies and governments to seed early markets.

U.S. Department of Defense Contracts

Agility Prime work and newer hybrid-aircraft programs support defense, logistics, autonomy, and mission-demonstration use cases with U.S. government customers and partners such as L3Harris.

Key Metrics

Employees

~2,600

Est. Annual Revenue

Q1 2026: $24.2M revenue (beat forecast); 2026 guidance: $105M–$115M; 2025 actual: $53.4M. Q2 2026 results due Aug 12, 2026

Flight-Test Miles

50,000+

Certification Progress

FAA Stage 5 (TIA) underway; Stage 4 completed March 2026; FAA-pilot 'for credit' testing expected later in 2026. Dubai vertiport (VDX) GCAA-certified July 2026

Top Speed

200 mph (322 km/h)

Market Cap

~$7.1B (mid-July 2026; ~$7.34/share)

Timeline

2026First FAA-conforming aircraft flies and U.S. launch prep accelerates

Begins flight testing its first FAA-conforming aircraft built for Type Inspection Authorization, paving the way for FAA 'for credit' flight testing later in the year. Joby also wins participation in the White House-backed eIPP program, opening a path for early U.S. operations in 10 states.

2026FAA Stage 4 certification completed; Stage 5 (TIA) underway

Joby completes FAA Stage 4 type certification in late March 2026 — the critical airworthiness conformity review covering propulsion system reliability and fly-by-wire redundancy. The company enters Stage 5 (Type Inspection Authorization) as the final gate before a U.S. commercial certificate. Parts for nine FAA-conforming aircraft are in production, with five designated for TIA flight testing.

2026First eVTOL point-to-point flight from JFK to Manhattan

On April 27, 2026, Joby completes the first-ever eVTOL point-to-point air taxi demonstration in New York City — departing from JFK Airport and landing at three Manhattan heliports (Downtown Skyport, West 30th Street, East 34th Street). The 50-mile ground trip completed in approximately seven minutes, mapping future commercial routes Delta Air Lines and Uber envision for the city.

2026Trade-secret case against Archer advances; Archer's counterclaims dismissed

In mid-June 2026 a U.S. federal court let the core of Joby's trade-secret suit against rival Archer Aviation and a former employee proceed — centered on a confidential real-estate developer agreement — while dismissing Archer's counterclaims (which alleged Joby concealed Chinese-supplier ties) as impermissible 'shotgun pleadings,' both with leave to amend. The ruling, in a case Joby filed in November 2025, marks an early procedural win for Joby in an escalating legal battle between the two leading U.S. eVTOL developers.

2026Joby and Toyota form JV to manufacture the S4

On June 29, 2026, Joby subsidiary Joby Aero and Toyota Motor Corporation incorporated a Delaware joint venture to manufacture the S4 eVTOL, with Toyota holding 51% and Joby 49% and a five-member board split three-to-two in Toyota's favor. The companies intend to sign an exclusive manufacturing supply agreement granting the JV exclusive rights to build the S4, tied to regulatory milestones and a future $250 million Toyota investment tranche, deepening a partnership under which Toyota has already committed roughly $894 million.

2026Dubai certifies world's first commercial air-taxi vertiport for Joby's network

On July 7, 2026 the UAE's General Civil Aviation Authority (GCAA) certified VDX — a purpose-built four-storey vertiport next to Dubai International Airport (DXB) developed by Skyports Infrastructure — as the world's first certified commercial vertiport for eVTOL operations. The ~3,100 sq m flagship hub has two take-off/landing pads, rapid charging, and passenger facilities designed to handle up to 170,000 passengers and 42,000 aircraft movements a year. It anchors the four-node Dubai network that Joby's S4 air taxi will fly, with public service directed to launch before the end of 2026.

2025Acquires Blade passenger business

Completes the acquisition of Blade's passenger business, adding established passenger terminals and operating experience in markets such as New York and Southern Europe to accelerate Joby's commercial launch once its aircraft is certified.

2024First FAA-conforming aircraft and Dubai expansion

Produces the first FAA-conforming production aircraft. Announces plans for air taxi operations in Dubai with partners. Completes over 1,500 test flights totaling 33,000+ miles. Begins manufacturing scale-up at Marina, California facility.

2022FAA certification milestones

Receives FAA Part 135 Air Carrier Certificate, allowing it to operate commercial air taxi services. Continues making progress on the type certification process with the FAA, completing key testing milestones.

2021Goes public via SPAC at $6.6B valuation

Goes public on NYSE through a merger with Reinvent Technology Partners, raising ~$1.6B at a $6.6B valuation. Toyota invests an additional $394M, bringing its total investment to nearly $900M.

2020Acquires Uber Elevate

Acquires Uber Elevate, Uber's aerial ride-sharing division, gaining multimodal integration technology, air taxi demand modeling, and a partnership to integrate Joby flights into the Uber app.

2017Full-scale prototype flight

Completes first flight of a full-scale eVTOL prototype, validating the core tilt-prop design with six electric motors that rotate from vertical (for takeoff) to horizontal (for cruise flight).

2009Founded by JoeBen Bevirt

JoeBen Bevirt founds Joby Aviation in Santa Cruz, California, to develop electric vertical take-off and landing aircraft. Early years focus on fundamental eVTOL technology research and prototyping.

Funding

Cumulative disclosed raise · dated rounds

$2B$4B$6B201620182020202220242026$4.1B raised
RoundDateAmountInvestorsSource
Early Rounds (Series A–C)2016–2020$720M+Toyota, Intel Capital, JetBlue Technology Ventures, Capricorn Investment Group
SPAC IPO (Reinvent Technology Partners)August 2021~$1.6BPublic offering (NYSE: JOBY), Toyota ($394M additional)
Follow-on Investments2022–2024$500M+SK Telecom, Baillie Gifford, Delta Air Lines ($60M)
Equity, Convertible Debt, and Delta WarrantsQ1 2026 (January–March)~$1.3B net proceedsPublic equity offering, convertible senior notes, and Delta Air Lines warrant exercises