When a company is a pioneer in an emerging industry, it's forgivable if that company's financials aren't perfect. So, investors will need to be patient and forgiving with air-taxi manufacturer Joby Aviation (NYSE:JOBY). Sure, Joby Aviation stock involves risk and volatility, but a small portfolio allocation could yield huge returns. Joby Aviation operates on the forefront of the air-taxi industry. The company has agreements with the U.S. Air Force as well as three government departments of Abu Dhabi, United ...

Joby Aviation, Inc. (NYSE:JOBY) Q1 2024 Earnings Conference Call May 7, 2024 5:00 PM ET Company Participants Teresa Thuruthiyil - Head of IR JoeBen Bevirt - Founder and CEO Paul Sciarra - Executive Chairman Didier Papadopoulos - President, Aircraft OEM Matt Field - CFO Bonny Simi - President, Operations Conference Call Participants Andres Sheppard - Cantor Fitzgerald Kristine Liwag - Morgan Stanley Savanthi Syth - Raymond James David Zazula - Barclays Edison Yu - Deutsche Bank Austin Moeller - Canaccord Gen ...

Financial Performance - Total assets decreased to $1,164,357,000 as of March 31, 2024, down from $1,269,435,000 at December 31, 2023, representing a decline of approximately 8.25%[16] - Revenue from flight services for the three months ended March 31, 2024, was $25,000, compared to $0 for the same period in 2023, indicating the commencement of revenue generation[18] - Total operating expenses increased to $145,922,000 for Q1 2024, up from $99,716,000 in Q1 2023, reflecting a rise of approximately 46.3%[18] - Net loss for the three months ended March 31, 2024, was $94,587,000, an improvement from a net loss of $113,393,000 in the same period of 2023, showing a reduction of about 16.5%[18] - Cash and cash equivalents decreased to $110,548,000 as of March 31, 2024, down from $204,017,000 at December 31, 2023, a decline of approximately 45.9%[16] - The company reported a weighted-average common stock outstanding of 681,749,388 shares for Q1 2024, compared to 605,184,671 shares for Q1 2023, an increase of about 12.6%[18] - The company’s total stockholders' equity decreased to $975,131,000 as of March 31, 2024, down from $1,034,362,000 at December 31, 2023, a decline of about 5.7%[16] - The net cash used in operating activities for Q1 2024 was $106,635,000, compared to $78,568,000 in Q1 2023, indicating an increase in cash outflow of approximately 35.7%[29] Research and Development - Research and development expenses rose to $115,636,000 in Q1 2024, compared to $75,518,000 in Q1 2023, marking an increase of approximately 53.2%[18] - Research and development expenses rose by $40.1 million, or 53%, to $115.6 million for the three months ended March 31, 2024, primarily due to increased personnel and materials for prototype development[124] - Joby Aviation is focused on developing a fully-electric vertical takeoff and landing (eVTOL) aircraft to provide air transportation as a service, indicating ongoing commitment to innovation in air mobility[30] - The company has completed over 1,000 successful test flights of its eVTOL aircraft and aims to be the first manufacturer to earn FAA airworthiness certification[97] Financial Assets and Liabilities - The fair value of total assets as of March 31, 2024, is $918.15 million, with cash equivalents valued at $104.81 million[47] - The fair value of total liabilities as of March 31, 2024, is $119.95 million, including $72.98 million in Earnout Shares Liability[47] - The fair value of Level 3 financial liabilities decreased, with the Earnout Shares Liability dropping from $95.97 million to $72.98 million[49] - The company’s available-for-sale investments totaled $813.34 million as of March 31, 2024, with unrealized losses of $906,000[48] - The company’s cash equivalents and money market funds decreased from $197.54 million on December 31, 2023, to $104.81 million by March 31, 2024[47][48] - The company’s corporate debt securities were valued at $457.47 million as of March 31, 2024[47] Stock and Compensation - The total stock-based compensation expense for the three months ended March 31, 2024, was $27.0 million, up from $17.3 million in the same period in 2023[88] - The company granted 10,064,357 restricted stock units (RSUs) during the three months ended March 31, 2024, with a grant date fair value of $6.07 per share[80] - The total fair value of RSUs vested for the three months ended March 31, 2024, was $37.9 million, compared to $26.7 million for the same period in 2023[80] - As of March 31, 2024, the company had 34,685,486 unvested RSUs, an increase from 23,855,690 unvested RSUs as of March 31, 2023[94] - The company recorded stock-based compensation expense of $7.3 million related to the 2024 Bonus Plan during the three months ended March 31, 2024[83] Future Operations and Strategy - The company plans to target commercial passenger operations in 2025 after delivering its first aircraft for initial service operations with the U.S. Department of Defense in September 2023[98] - The company expects to utilize a combination of equity and debt financing to fund future capital needs until it generates sufficient operating cash flow[128] - The company anticipates sufficient funding to support operations through the initial launch of commercial service operations in 2025[128] - The FAA's operational regulations for eVTOLs are not expected to be finalized until late 2024, which could delay the company's commercial passenger service launch[106] - The company aims to maintain a high daily aircraft utilization rate, as reductions in utilization will adversely impact financial performance[111] - The company operates under a vertically-integrated business model, which relies on developing and certifying its own components rather than sourcing from third-party suppliers[109] Mergers and Financing - The merger with Reinvent Technology Partners (RTP) was completed on August 10, 2021, resulting in Joby Aviation, Inc. as a wholly-owned subsidiary of RTP[31] - The PIPE Financing associated with the merger closed concurrently, involving multiple investors purchasing shares of Common Stock[32] - As of March 31, 2024, the company raised net proceeds of $1,067.9 million from the Merger and $843.3 million from the issuance of redeemable convertible preferred stock and convertible notes prior to the Merger[127] Compliance and Reporting - Certifications of the Principal Executive Officer and Principal Financial Officer were submitted in compliance with the Sarbanes-Oxley Act of 2002[158] - Inline XBRL documents were included to enhance the accessibility of financial data[158] - The quarterly report was signed by CEO JoeBen Bevirt and CFO Matthew Field on May 7, 2024[162]

Joby Aviation, Inc. (JOBY) came out with a quarterly loss of $0.14 per share versus the Zacks Consensus Estimate of a loss of $0.16. This compares to loss of $0.16 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 12.50%. A quarter ago, it was expected that this company would post a loss of $0.19 per share when it actually produced a loss of $0.17, delivering a surprise of 10.53%.Over the last four quarters, the company has surp ...

Shareholder Letter Q1 2024 oby JOBYAVIATION.COM MAY 7, 2024 JOBY AVIATION Q12024 Highlights AT A GLANCE Production Ramp-Up Our second production prototype aircraft rolled off our Pilot Production Line and is expected to join our first production prototype at Edwards Air Force Base later this year, with two further aircraft now in final assembly. We broke ground on an expanded production facility in Marina, CA and acquired an existing facility in Dayton, OH to support initial scaled manufacturing operations. ...

Joby Aviation (NYSE:JOBY) remains a top pick in the electric vertical takeoff and landing sector. Thus far this year, JOBY stock has had a volatile ride. However, some speculative capital appears to be coming back into the market, boosting this stock in recent trading days.Joby has been pretty busy in 2022 and 2023, as FAA certifications for its units have been progressing fast. This places its commercial eVTOL deployments closer to flying.Joby is actively preparing the ground in target markets to streamlin ...

It’s earnings season, and hundreds of companies are slated to report results over the next few weeks. One such company investors are increasingly paying close attention to is electric vertical takeoff and landing (eVTOL) firm Joby Aviation (NYSE:JOBY). Shares of JOBY stock are trading flat today ahead of its upcoming first-quarter earnings report, but that’s potentially due to a number of key factors that the market is pricing in.Joby is set to report its Q1 results on May 7, which should give investors a g ...

Investing legend Peter Lynch coined the term “10-bagger.” That is a stock that grows to 10 times the value of its initial investment. He knows a thing or two about hitting home runs with stocks.During his time as Fidelity Magellan’s money manager, he took the fund from $20 million in assets under management (AUM) in 1977 to $14 billion AUM in 1990 when he retired for a 29% compounded annual growth rate. In other words, if you put $10,000 into the fund and never added another dollar, you would have $280,000 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ____________________________ (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to __________ Commission file number 001-39463 ____________________________ Joby Aviation, Inc. (Exact name of registrant ...

Joby Aviation, Inc. (NYSE:JOBY) Q4 2023 Earnings Conference Call February 21, 2024 5:00 PM ET Company Participants Teresa Thuruthiyil - Head of Investor Relations JoeBen Bevirt - Founder and Chief Executive Officer Didier Papadopoulos - President of Aircraft OEM Matt Field - Chief Financial Officer Conference Call Participants Andres Sheppard - Cantor Fitzgerald Kristine Liwag - Morgan Stanley Savanthi Syth - Raymond James Austin Moeller - Canaccord Genuity Bill Peterson - JPMorgan Edison Yu - Deutsche Bank ...