Joby Aviation Posts $30.8M Q4 Revenue Beat, $0.20 Loss
Joby Aviation reported a Q4 loss of $0.20 per share on adjusted basis, matching estimates, while quarterly revenues rose to $30.83 million, exceeding the $17.7 million consensus by 74%. Operating expenses climbed 58.4% year-over-year, and cash increased to $240.8 million as 2026 revenue guidance was set at $105-115 million.
1. Fourth-Quarter 2025 Results
Joby Aviation reported an adjusted loss of $0.20 per share in Q4 2025, matching expectations, while revenue reached $30.83 million, a 74% beat over the $17.7 million estimate. The adjusted EBITDA loss totaled $154.1 million, reflecting costs tied to aircraft development, certification, manufacturing and Blade operations.
2. Operating Expense Increase
Total operating expenses rose 58.4% year-over-year in the December quarter, driven by a 31.8% increase in research and development costs and a 107.4% surge in selling, general and administrative expenses.
3. Cash Reserves and 2026 Outlook
Joby ended the quarter with $240.81 million in cash and equivalents, up from $208.36 million at the end of Q3. Full-year 2026 revenue is forecast at $105 million to $115 million, compared with a $113.1 million consensus estimate.