Joby Aviation Q2 net loss $286M; production prototype flight; $1.2B cash

Joby Aviation, Inc.

2023-Q2 EPS reported -$0.64

Net loss of $286.1M includes $180.7M loss on derivative liability revaluation; operating expenses $116M.
Cash and short-term investments $1.2B; net cash used in operations and capex $77M in Q2.
Adjusted EBITDA loss $83.3M, up $9.2M YoY, reflecting higher certification and manufacturing costs.
First production prototype rolled off line and began flight testing; all certification plans submitted to FAA.
Strengthened balance sheet with $280M from Baillie Gifford and SK Telecom; Toyota exec joined board.

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