Should You Buy Joby Aviation Before 2026?

Core Insights - Joby Aviation has experienced a significant increase of over 70% in 2025, indicating strong investor interest in the eVTOL market [1] - The company is positioned as a leader in the emerging eVTOL sector, with its electric vertical take-off and landing aircraft offering a potential solution to urban traffic congestion [2] Company Overview - Joby Aviation is currently a pre-revenue company without regulatory approval for commercial flights or a fleet of eVTOLs, making its current status more of a leader in concept rather than in revenue generation [3] - The company has made notable progress towards commercialization, including completing its first flight between two airports and demonstrating flights at a California airshow [4] Regulatory Progress - Joby Aviation is in the final stage of certification, with expectations for flight testing by its pilots to commence later this year and "for credit" testing to begin in 2026 [6] - The successful completion of flight demonstrations is crucial for proving the safety of its aircraft to the FAA, which is necessary for obtaining regulatory approval [5] Market Position - The current market capitalization of Joby Aviation stands at $12 billion, with a stock price of $13.07, reflecting investor confidence despite the lack of revenue [5] - The company’s gross margin is reported at -11490.90%, indicating significant costs relative to revenue, which is expected for a pre-revenue startup [5]