TLDR
- Joby reported Q2 revenue of $38.6 million, beating Wall Street’s $30 million estimate by 33%
- Operating loss came in at $260.9 million, wider than the expected $210 million loss
- 2026 revenue guidance raised to $120 million, up from $110 million prior guidance
- JOBY stock was up 3.2% in premarket trading to $8.05 following the report
- Certification for Joby’s eVTOL aircraft is expected in late 2026 or early 2027
Joby Aviation posted Q2 revenue of $38.6 million, well ahead of the $30 million Wall Street had penciled in. The stock was up 3.2% in premarket trading Thursday, hitting $8.05.
The revenue beat was driven largely by Joby’s air-taxi operations following its 2025 acquisition of Blade Air Mobility’s helicopter business. A year ago, Joby reported essentially zero revenue.
The operating loss, however, came in at $260.9 million for the quarter. That was wider than the analyst consensus of $210 million and above the $168 million loss reported in Q2 2025.
$JOBY Q2’26 EARNINGS HIGHLIGHTS
🔹 Revenue: $38.6M (Est. $30.4M) 🟢
🔹 EPS: -$0.25 (Est. -$0.23) 🟡
🔹 Cash: $2.3BFY26 Guide:
🔹 Revenue: $115M-$125M (Est. $115M) 🟢
🔹 H2 Cash Use: $385M-$415MSegment Net Revenue:
🔹 Blade: $36.2MOther Q2 Metrics:
🔹 Adj EBITDA: -$197.0M… pic.twitter.com/uu5E8wk5EQ— Wall St Engine (@wallstengine) August 5, 2026
On the earnings per share side, Joby posted a loss of $0.25 per share. The Zacks consensus estimate called for a loss of $0.23, making it a small miss on the bottom line.
Joby has now beaten revenue estimates in each of the last four quarters, though it has not beaten EPS estimates in that same stretch.
Guidance Gets a Bump
Management raised full-year 2026 revenue guidance to approximately $120 million, up from the prior $110 million forecast. Wall Street’s current projection sits at $117 million, so the new guidance comes in slightly above consensus.
The company currently operates the Blade helicopter routes. The plan is to swap in Joby’s own eVTOL aircraft once they clear FAA certification, which the company is targeting for late 2026 or early 2027.
Joby said it is now in the fifth and final stage of FAA type certification. It currently has five electric air taxis flying, including its first FAA-conforming aircraft. Twelve more are in various stages of production, with two planned for delivery this year.
“We continue to make important progress on certification and production,” the company said in its release.
Stock Still Under Pressure
Despite the revenue beat and guidance raise, JOBY stock remains under heavy pressure. Through Wednesday’s close, the stock was down about 41% year-to-date and off roughly 60% over the past 12 months.
By comparison, the S&P 500 is up around 13% so far this year.
Cantor Fitzgerald analyst Andres Sheppard maintained a Neutral rating on the stock after the report. He called Joby “an industry leader in advanced air mobility” and “among the best-positioned in the eVTOL industry to achieve commercialization,” but said he was waiting for a better entry point and more detail on unit economics.
Zacks currently rates JOBY a Rank 4 (Sell), with estimate revisions trending unfavorably heading into the report.
The current consensus EPS estimate for the next quarter is a loss of $0.23 on revenues of $38.3 million. For the full fiscal year, estimates sit at a loss of $0.79 per share on $116.67 million in revenue.
Joby’s Aerospace and Defense sector ranks in the top 40% of Zacks-tracked industries.
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