Q2 2026 Joby Aviation Inc Earnings Call Transcript

Aug 5, 2026 / 09:00 PM GMT

Release Date Price: €6.85 (+0.74%)

Transcript 10-Q8-K

Key Points

Positve

Joby Aviation Inc (JOBY) is raising its full-year 2026 revenue guidance to $115-$125 million, driven by strong performance from its Blade business, which saw Q2 seats sold up over 50% year-over-year.
The company is set to begin its first EIPP flights in Texas next month, with a clear path to carrying its first passengers this year, potentially accelerating its path to commercial service.
Joby Aviation Inc (JOBY) has made significant progress in manufacturing, reducing its non-conformance rate by nearly 40% in the first half of the year and now has five aircraft flying with 12 more in production.
The new joint venture with Toyota is expected to significantly de-risk high-volume production, with a senior Toyota manufacturing leader joining the team and a $250 million direct investment expected to close later this year or early next.
Joby Aviation Inc (JOBY) is expanding its commercial ecosystem through new partnerships, including a multi-year agreement with Virgin Atlantic for UK service and a strategic infrastructure partnership with Atoms to develop mobility hubs.
The company's Blade acquisition is proving to be a 'home run,' with record Q2 performance, high demand for vertical lift, and the business not consuming cash while contributing to growth.

Negative

Joby Aviation Inc (JOBY) reported a GAAP net loss of $245 million in Q2, a significant increase from $110 million in Q1, largely due to a $108 million non-cash unfavorable change in the fair value of warrants and earn-out shares.
The company's cash burn is accelerating, with Q2 use of cash at $202 million and expected second-half 2026 cash use of $385-$415 million, reflecting increased investment in commercial readiness.
Manufacturing remains a key challenge, with the company acknowledging that building conforming aircraft represents a 'step change in complexity' and that it is still ramping production with only two aircraft deliveries targeted for this year.
The EIPP program, while promising, is adding an 'additional burden on the team' in the short term, which could potentially strain resources and slow down the certification process.
The company faces significant uncertainty regarding the deployment of its first two deliverable aircraft, as it has not yet decided their final destinations, indicating potential strategic delays or logistical hurdles.
Joby Aviation Inc (JOBY) continues to rely heavily on external partners and government programs for infrastructure and airspace integration, exposing it to risks related to regulatory timelines and partner execution.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

JOBY.N - Joby Aviation, Inc.
Q2 2026 Joby Aviation Inc Earnings Call
Aug 05, 2026 / 09:00PM GMT

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Presentation
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Unidentified_1 [1]
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Greetings and welcome to the Joby Aviation second quarter 2026 financial results. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation.

If anyone should require operator assistance, please press star zero on your telephone keypad.

As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Teresa Thurithil, head of investor relations.

Thank you. You may begin.

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Unidentified_2 [2]
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Thank you. Good afternoon and evening,

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