Joby Aviation reports Q3 net loss $401M, revenue $22.6M; advances certification with TIA aircraft testing

Joby Aviation, Inc.

2025-Q3 EPS reported -$1.01 revenue$22,589,000

Net loss of $401.2M ($0.48/share) on $22.6M revenue; includes $229M non-cash warrant/earnout revaluation.
Cash and investments $978.1M at Q3 end; October equity offering netted $576M; 2025 cash burn guidance at upper end of $500–540M.
Power-on testing began on first FAA-conforming TIA aircraft; flight testing by Joby pilots expected later 2025, for-credit FAA flights in 2026.
Produced 15x more type-design conforming parts vs 2024; propeller blade manufacturing started at Dayton, OH facility.
Blade flew ~40,000 passengers in Q3; expanded Uber partnership; Dubai vertiport construction on track for Q1 2026 completion.

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