Joby Reports Second Quarter 2025 Financial Results

SANTA CRUZ, Calif.--(BUSINESS WIRE)--Aug 6, 2025--

Joby Aviation, Inc. (NYSE:JOBY), a company developing electric air taxis for commercial passenger service, today issued its Second Quarter 2025 Shareholder Letter detailing the company’s operational and financial results for the quarter ending June 30, 2025. The company will host a live audio webcast of its conference call to discuss the results at 2:00 p.m. PT (5:00 p.m. ET) today.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250806942220/en/

Second Quarter 2025 Highlights include:

Commenting on Joby’s second quarter results, JoeBen Bevirt, founder and CEO, said, “This is a pivotal moment. Regulatory progress around the world is unlocking market access, our commercialization strategy is taking hold, and we’re now focused on scaling production to meet real demand—a challenge we’re fully committed to and working hard to deliver on.”

Joby ended the second quarter of 2025 with $991 million in cash, cash equivalents, and investments in marketable securities. Joby continues to estimate that our use of cash, cash equivalents and short-term investments during 2025 will range between $500–$540 million, excluding any potential impact of its proposed acquisition of the passenger business of Blade.

Second Quarter Financial Results Webcast Details:

What: Joby Second Quarter 2025 Financial Results Webcast

When: Wednesday, August 6, 2025

Time: 2:00 p.m. PT (5:00 p.m. ET)

Webcast: Upcoming Events ( https://ir.jobyaviation.com/news-events/ir-calendar ) section of the company website ( www.jobyaviation.com ).

If unable to attend the webcast, to listen by phone, please dial 1-877-407-9719 or 1-201-378-4906. A replay of the webcast will be available on the company website following the event.

About Joby

Joby Aviation, Inc. (NYSE:JOBY) is a California-based transportation company developing an all-electric, vertical take-off and landing air taxi. Joby intends to both operate its fast, quiet, and convenient air taxi service in cities around the world and sell its aircraft to other operators and partners. To learn more, visit www.jobyaviation.com.

Forward Looking Statements

This release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the development and performance of our aircraft, the growth of our manufacturing capabilities, including our expectations to be able to produce up to 24 aircraft per year at our Marina, California facility and up to 500 aircraft per year at our Dayton, Ohio facility; our regulatory outlook, progress and timing, and expected manufacturing and flight test capabilities and timing; the potential timing and expected benefits of our planned acquisition of the Blade passenger business; our business plan, objectives, goals and market opportunity; plans for, and potential benefits of, our strategic partnerships, including our agreement with L3Harris Technologies, including plans to begin flight testing of a gas turbine aircraft in the fall and perform demonstrations during select military exercises in 2026; and our current expectations relating to our business, financial condition, results of operations, prospects, capital needs and growth of our operations, including our cash spending outlook for 2025. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “will”, “should”, “can have”, “likely” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. All forward looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including: our ability to launch our air taxi service and the growth of the urban air mobility market generally; our ability to produce aircraft that meet our performance expectations in the volumes and on the timelines that we project; the need to negotiate and enter into additional agreements to realize the full expected value of our strategic partnerships; the competitive environment in which we operate; our future capital needs; our ability to adequately protect and enforce our intellectual property rights; our ability to effectively respond to evolving regulations and standards relating to our aircraft; our reliance on third-party suppliers and service partners; uncertainties related to our estimates of the size of the market for our service and future revenue opportunities; and other important factors discussed in the section titled “Risk Factors” in our Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the “SEC”) on February 27, 2025, and in future filings and other reports we file with or furnish to the SEC. Any such forward-looking statements represent management’s estimates and beliefs as of the date of this release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.

Joby’s all-electric vertical takeoff and landing aircraft. Credit: Joby Aviation.

WASHINGTON (AP) — U.S. forces in the Caribbean Sea have seized another sanctioned oil tanker that the Trump administration says has ties to Venezuela, part of a broader U.S. effort to take control of the South American country’s oil.

The U.S. Coast Guard boarded the tanker, named Veronica, early Thursday, Homeland Security Secretary Kristi Noem wrote on social media. The ship had previously passed through Venezuelan waters and was operating in defiance of President Donald Trump’s "established quarantine of sanctioned vessels in the Caribbean,” she said.

U.S. Southern Command said Marines and sailors launched from the aircraft carrier USS Gerald R. Ford to take part in the operation alongside a Coast Guard tactical team, which Noem said conducted the boarding as in previous raids. The military said the ship was seized “without incident.”

Several U.S. government social media accounts posted brief videos that appeared to show various parts of the ship’s capture. Black-and-white footage showed at least four helicopters approaching the ship before hovering over the deck while armed troops dropped down by rope. At least nine people could be seen on the deck of the ship.

The Veronica is the sixth sanctioned tanker seized by U.S. forces as part of the effort by Trump’s administration to control the production, refining and global distribution of Venezuela’s oil products and the fourth since the U.S. ouster of Venezuela President Nicolás Maduro in a surprise nighttime raid almost two weeks ago.

The Veronica last transmitted its location on Jan. 3 as being at anchor off the coast of Aruba, just north of Venezuela’s main oil terminal. According to the data it transmitted at the time, it was partially filled with crude.

The ship is currently listed as flying the flag of Guyana and is considered part of the shadow fleet that moves cargoes of oil in violation of U.S. sanctions.

According to its registration data, the ship also has been known as the Gallileo, owned and managed by a company in Russia. In addition, a tanker with the same registration number previously sailed under the name Pegas and was sanctioned by the U.S. Treasury Department for moving cargoes of illicit Russian oil.

As with prior posts about such raids, Noem and the military framed the seizure as part of an effort to enforce the law. Noem argued that the multiple captures show that “there is no outrunning or escaping American justice.”

Speaking to reporters at the White House later Thursday, Noem declined to say how many sanctioned oil tankers the U.S. is tracking or whether the government is keeping tabs on freighters beyond the Caribbean Sea.

“I can’t speak to the specifics of the operation, although we are watching the entire shadow fleet and how they’re moving,” she told reporters.

However, other officials in Trump's Republican administration have made clear that they see the actions as a way to generate cash as they seek to rebuild Venezuela’s battered oil industry and restore its economy.

Trump met with executives from oil companies last week to discuss his goal of investing $100 billion in Venezuela to repair and upgrade its oil production and distribution. His administration has said it expects to sell at least 30 million to 50 million barrels of sanctioned Venezuelan oil.

This story has been corrected to show the Veronica is the fourth, not the third, tanker seized by U.S. forces since Maduro’s capture and the ship also has been known as the Gallileo, not the Galileo.

Associated Press writer Ben Finley contributed to this report.

Homeland Security Secretary Kristi Noem speaks with reporters at the White House, Thursday, Jan. 15, 2026, in Washington. (AP Photo/Alex Brandon)

Homeland Security Secretary Kristi Noem speaks with reporters at the White House, Thursday, Jan. 15, 2026, in Washington. (AP Photo/Evan Vucci)

Homeland Security Secretary Kristi Noem speaks with reporters at the White House, Thursday, Jan. 15, 2026, in Washington. (AP Photo/Evan Vucci)

Homeland Security Secretary Kristi Noem speaks with reporters at the White House, Thursday, Jan. 15, 2026, in Washington. (AP Photo/Evan Vucci)

Homeland Security Secretary Kristi Noem speaks with reporters at the White House, Thursday, Jan. 15, 2026, in Washington. (AP Photo/Evan Vucci)

U.S. Homeland Security Secretary Kristi Noem speaks during a press conference, Thursday, Jan. 8, 2026, in New York. (AP Photo/Yuki Iwamura)

U.S. Homeland Security Secretary Kristi Noem speaks at a news conference at Harry Reid International Airport, Nov. 22, 2025, in Las Vegas. (AP Photo/Ronda Churchill, File)