Why Is Joby Aviation, Inc. (JOBY) Up 10.1% Since Last Earnings Report?

Core Viewpoint - Joby Aviation, Inc. has experienced a 10.1% increase in share price over the past month, outperforming the S&P 500, but concerns remain about the sustainability of this trend leading up to the next earnings report [1][2]. Financial Performance - Joby reported a third-quarter 2025 loss of 26 cents per share, which was wider than the Zacks Consensus Estimate of 19 cents and the previous year's loss of 21 cents [3]. - Quarterly revenues reached $22.6 million, significantly exceeding the Zacks Consensus Estimate by 140.2%, compared to only $0.03 million in the same quarter last year [3]. - Total operating expenses increased by 30.3% year over year, driven by a rise in research and development costs (up 18.2%) and selling, general, and administrative costs (up 47%) [4]. - Adjusted EBITDA for the third quarter was a loss of $132.8 million, which included costs related to employee expenses for aircraft development and the Blade acquisition [4]. - At the end of the third quarter, Joby had cash and cash equivalents of $208.4 million, up from $199.6 million at the end of 2024, with expectations to generate cash and short-term investments in the range of $500-$540 million for 2025 [5]. Estimate Revisions - There has been a downward trend in estimates, with the consensus estimate shifting down by 8.33% over the past month [6]. - Joby Aviation currently holds a Zacks Rank 3 (Hold), indicating an expectation of an in-line return in the coming months [8]. VGM Scores - Joby Aviation has a poor Growth Score of F, a Momentum Score of F, and a Value Score of F, placing it in the fifth quintile for investment strategy [7]. Industry Comparison - Joby Aviation is part of the Zacks Aerospace - Defense industry, where General Dynamics has seen a slight gain of 0.4% over the past month, reporting revenues of $12.91 billion for the quarter ended September 2025, reflecting a year-over-year increase of 10.6% [9].