Joby Aviation

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

CEO

JoeBen Bevirt

Overview

Joby Aviation is a California-based transportation company developing a piloted, all-electric air taxi for commercial passenger service. The company is in the late stages of FAA type certification and expects to carry its first passengers in 2026. Alongside certification, Joby is building launch infrastructure in Dubai, integrating future service into the Uber app, and expanding manufacturing capacity in California and Ohio.

Main Products

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.

Undergoing FAA type certification. The first FAA-conforming aircraft began flight testing in March 2026, and FAA pilots are expected to begin 'for credit' TIA flight testing later in 2026.

Passengers4 + 1 pilot

RangeUp to 100 miles

Top Speed200 mph

Propellers6 tilting electric

What's Next

Advance final FAA flight testing

Move from internal testing into FAA-led 'for credit' Type Inspection Authorization flight tests using the first conforming aircraft, the final major step before commercial certification.

2026

Begin first passenger operations

Carry first passengers in Dubai later in 2026 while also using the White House-backed eIPP program to begin early U.S. operations ahead of full type certification.

2026

Scale manufacturing

Bring the new 700,000-square-foot Ohio facility online and expand the California and Ohio manufacturing footprint to support a target production rate of four aircraft per month in 2027.

2027

Operations & Revenue

StatusCommercial launch preparation

Joby's own aircraft is still in FAA certification, but the business is now generating passenger revenue through the acquired Blade operation while preparing first Joby passenger flights in Dubai and early U.S. operations during 2026.

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

2026 revenue guidance: $105M-$115M (2025 actual: $53.4M)

Flight-Test Miles

50,000+

Certification Progress

Stage 4: 80% Joby / 73% FAA

Top Speed

200 mph (322 km/h)

Market Cap

~$8.2B

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.

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

Round	Date	Amount	Investors
Early Rounds (Series A–C)	2016–2020	$720M+	Toyota, Intel Capital, JetBlue Technology Ventures, Capricorn Investment Group
SPAC IPO (Reinvent Technology Partners)	August 2021	~$1.6B	Public offering (NYSE: JOBY), Toyota ($394M additional)
Follow-on Investments	2022–2024	$500M+	SK Telecom, Baillie Gifford, Delta Air Lines ($60M)
Equity and Convertible Debt Offerings	January–February 2026	~$1.2B net proceeds	Public equity offering and convertible senior notes