Joby Aviation Faces Profitability Challenges Amid eVTOL Ambitions
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 10h ago
0mins
Should l Buy JOBY?
Source: NASDAQ.COM
- Significant Stock Decline: Joby Aviation's stock has fallen nearly 50% from its 52-week high, reflecting investor concerns about the company's future profitability, especially as it has yet to achieve sustainable earnings.
- Escalating Losses: The company reported a loss of $1.01 per share for the first nine months of 2025, a substantial increase from a loss of $0.53 per share in the same period of 2024, indicating financial strain during its early development phase.
- Increased Financing Risks: Joby recently announced plans to sell $600 million in convertible notes and over 52 million shares of common stock, a move that could dilute existing shareholders and heighten market uncertainty regarding its future.
- Slow Regulatory Progress: While Joby has made some progress toward regulatory approval for its eVTOL aircraft, having conducted hundreds of test flights, achieving sustainable profitability remains a significant challenge, leading investors to adopt a cautious outlook on its future development.
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Analyst Views on JOBY
Wall Street analysts forecast JOBY stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for JOBY is 15.67 USD with a low forecast of 8.00 USD and a high forecast of 22.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Analyst Rating
1 Buy
3 Hold
2 Sell
Hold
Current: 10.100
Low
8.00
Averages
15.67
High
22.00
Current: 10.100
Low
8.00
Averages
15.67
High
22.00
About JOBY
Joby Aviation, Inc. is a transportation company developing an all-electric, vertical take-off and landing air taxi. The Company is engaged in designing and testing a piloted all-electric, vertical take-off and landing (eVTOL) aircraft. The Joby eVTOL is designed to transport a pilot and up to four passengers or an expected payload of up to 1,000 pounds at speeds of up to 200 miles per hour (mph). The aircraft is optimized for urban routes, with a target range of up to 100 miles on a single charge. The Company plans to manufacture, own and operate its aircraft itself, building a vertically integrated transportation company that delivers transportation services to customers, including government agencies such as the United States Air Force (USAF) through sales or contracted operations, and to individual end-users through a convenient app-based aerial ridesharing service. It also offers a network of terminals and loyal flyers in markets like New York and in Southern Europe.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Joby Aviation Nears Critical FAA Certification and Dubai Launch
- FAA Certification Approaching: Joby Aviation is nearing a critical phase of FAA certification, which will pave the way for its future commercial operations and significantly enhance its competitiveness in the urban air mobility market.
- Dubai Market Launch: The company plans to launch its electric vertical takeoff and landing (eVTOL) aircraft in Dubai, a move that will not only open up the Middle Eastern market for Joby but also potentially attract significant investor interest in its future growth prospects.
- Investor Return Potential: Should Joby successfully execute its plans, it is expected to deliver substantial returns for long-term investors, especially against the backdrop of increasing urban mobility demand, making the company's market positioning crucial.
- Opportunity to Reshape Markets: The success of Joby Aviation could not only reshape the urban mobility landscape but also drive the development of related technologies and infrastructure, thereby creating new growth opportunities for the entire industry.
See More
Joby Aviation Poised for Stock Surge
- Technological Edge: Joby's S4 eVTOLs utilize tilt-rotor technology, making them faster and more energy-efficient than competitors like Archer Aviation, which could enable Joby to dominate the emerging eVTOL market and replace traditional helicopters.
- Investor Backing: The company has garnered significant support from major investors and customers, including Toyota, Delta Air Lines, and the U.S. Air Force, which not only boosts market confidence but also lays a solid foundation for future growth.
- Acquisition Strategy: Joby's acquisition of Uber's Elevate aerial ride-hailing division in 2020 and Blade's helicopter service last year provides robust support for its future air taxi services, enhancing its operational capabilities.
- Market Outlook: With the FAA expected to approve Joby's first commercial flights this year and the launch of its air taxi services in Dubai, these catalysts could drive its stock price higher, despite a high projected P/E ratio of 47 times its 2027 sales.
See More
Joby Aviation's Electric Air Taxi Prospects Dim Amid Cash Burn
- Funding Challenges: Joby Aviation raised over $1 billion last month through convertible bonds and common stock, yet its stock price has fallen to around $10.50 due to dilution concerns, reflecting market skepticism about its profitability.
- Manufacturing Expansion Plans: The company aims to produce four electric air taxis per month by 2027, resulting in an annual output of only 48 units, which translates to over $100 million in revenue, a trivial amount compared to its $10 billion market cap.
- Cash Flow Pressure: Joby reported a negative free cash flow of $532 million over the last 12 months, and with increasing manufacturing investments, it is expected to continue operating at a loss for years, raising the risk of further shareholder dilution.
- Uncertain Market Outlook: Despite the significant market potential for electric air taxis, Joby's heavy cash burn and lack of substantial revenue may lead investors to adopt a cautious stance regarding its future, potentially impacting long-term stock performance.
See More
Joby Aviation Faces Challenges in Electric Air Taxi Market
- Funding and Stock Decline: Joby Aviation raised over $1 billion last month through convertible bonds and common stock, yet its stock price has fallen to $10.50 per share due to concerns about future profitability, reflecting market skepticism.
- Manufacturing Capacity Expansion: The company aims to produce four electric air taxis per month by 2027, but this annual target of 48 vehicles appears trivial against its $10 billion market cap, raising doubts about long-term growth prospects among investors.
- Cash Flow and Loss Issues: Joby reported a negative free cash flow of $532 million over the past 12 months, and as initial manufacturing investments ramp up, losses are expected to worsen, potentially leading to further shareholder dilution that could hinder stock price returns.
- Market Outlook and Competitive Pressure: While the market for electric air taxis is promising, Joby faces significant regulatory challenges and intense competition, particularly regarding FAA certification and safety requirements, which may delay the launch of its commercial operations.
See More
Joby Aviation's Progress on eVTOL Aircraft Approval
- Regulatory Progress: Joby Aviation conducted hundreds of test flights in 2025 and is preparing to use simulators for pilot training, marking significant strides toward regulatory approval for its eVTOL aircraft, although numerous challenges remain before achieving sustainable profitability.
- Deteriorating Financials: The company reported a loss of $1.01 per share for the first nine months of 2025, a substantial increase from a $0.53 loss in the same period of 2024, indicating ongoing financial pressures during its early development stage, with material losses expected to persist in the near term.
- Increased Market Risks: Joby's stock price has fallen nearly 50% from its 52-week high, raising investor concerns about the company's future profitability, particularly after its announcement to sell $600 million in convertible notes and over 52.8 million shares of common stock, which could dilute existing shareholders' equity.
- Cautious Investor Sentiment: Given the uncertain future, Wall Street has adopted a
See More
Joby Aviation Faces Profitability Challenges Amid eVTOL Ambitions
- Significant Stock Decline: Joby Aviation's stock has fallen nearly 50% from its 52-week high, reflecting investor concerns about the company's future profitability, especially as it has yet to achieve sustainable earnings.
- Escalating Losses: The company reported a loss of $1.01 per share for the first nine months of 2025, a substantial increase from a loss of $0.53 per share in the same period of 2024, indicating financial strain during its early development phase.
- Increased Financing Risks: Joby recently announced plans to sell $600 million in convertible notes and over 52 million shares of common stock, a move that could dilute existing shareholders and heighten market uncertainty regarding its future.
- Slow Regulatory Progress: While Joby has made some progress toward regulatory approval for its eVTOL aircraft, having conducted hundreds of test flights, achieving sustainable profitability remains a significant challenge, leading investors to adopt a cautious outlook on its future development.
See More
Joby Aviation Nears Critical FAA Certification and Dubai Launch
- FAA Certification Approaching: Joby Aviation is nearing a critical phase of FAA certification, which will pave the way for its future commercial operations and significantly enhance its competitiveness in the urban air mobility market.
- Dubai Market Launch: The company plans to launch its electric vertical takeoff and landing (eVTOL) aircraft in Dubai, a move that will not only open up the Middle Eastern market for Joby but also potentially attract significant investor interest in its future growth prospects.
- Investor Return Potential: Should Joby successfully execute its plans, it is expected to deliver substantial returns for long-term investors, especially against the backdrop of increasing urban mobility demand, making the company's market positioning crucial.
- Opportunity to Reshape Markets: The success of Joby Aviation could not only reshape the urban mobility landscape but also drive the development of related technologies and infrastructure, thereby creating new growth opportunities for the entire industry.
See More
Joby Aviation Poised for Stock Surge
- Technological Edge: Joby's S4 eVTOLs utilize tilt-rotor technology, making them faster and more energy-efficient than competitors like Archer Aviation, which could enable Joby to dominate the emerging eVTOL market and replace traditional helicopters.
- Investor Backing: The company has garnered significant support from major investors and customers, including Toyota, Delta Air Lines, and the U.S. Air Force, which not only boosts market confidence but also lays a solid foundation for future growth.
- Acquisition Strategy: Joby's acquisition of Uber's Elevate aerial ride-hailing division in 2020 and Blade's helicopter service last year provides robust support for its future air taxi services, enhancing its operational capabilities.
- Market Outlook: With the FAA expected to approve Joby's first commercial flights this year and the launch of its air taxi services in Dubai, these catalysts could drive its stock price higher, despite a high projected P/E ratio of 47 times its 2027 sales.
See More
Joby Aviation's Electric Air Taxi Prospects Dim Amid Cash Burn
- Funding Challenges: Joby Aviation raised over $1 billion last month through convertible bonds and common stock, yet its stock price has fallen to around $10.50 due to dilution concerns, reflecting market skepticism about its profitability.
- Manufacturing Expansion Plans: The company aims to produce four electric air taxis per month by 2027, resulting in an annual output of only 48 units, which translates to over $100 million in revenue, a trivial amount compared to its $10 billion market cap.
- Cash Flow Pressure: Joby reported a negative free cash flow of $532 million over the last 12 months, and with increasing manufacturing investments, it is expected to continue operating at a loss for years, raising the risk of further shareholder dilution.
- Uncertain Market Outlook: Despite the significant market potential for electric air taxis, Joby's heavy cash burn and lack of substantial revenue may lead investors to adopt a cautious stance regarding its future, potentially impacting long-term stock performance.
See More
Joby Aviation Faces Challenges in Electric Air Taxi Market
- Funding and Stock Decline: Joby Aviation raised over $1 billion last month through convertible bonds and common stock, yet its stock price has fallen to $10.50 per share due to concerns about future profitability, reflecting market skepticism.
- Manufacturing Capacity Expansion: The company aims to produce four electric air taxis per month by 2027, but this annual target of 48 vehicles appears trivial against its $10 billion market cap, raising doubts about long-term growth prospects among investors.
- Cash Flow and Loss Issues: Joby reported a negative free cash flow of $532 million over the past 12 months, and as initial manufacturing investments ramp up, losses are expected to worsen, potentially leading to further shareholder dilution that could hinder stock price returns.
- Market Outlook and Competitive Pressure: While the market for electric air taxis is promising, Joby faces significant regulatory challenges and intense competition, particularly regarding FAA certification and safety requirements, which may delay the launch of its commercial operations.
See More
Joby Aviation's Progress on eVTOL Aircraft Approval
- Regulatory Progress: Joby Aviation conducted hundreds of test flights in 2025 and is preparing to use simulators for pilot training, marking significant strides toward regulatory approval for its eVTOL aircraft, although numerous challenges remain before achieving sustainable profitability.
- Deteriorating Financials: The company reported a loss of $1.01 per share for the first nine months of 2025, a substantial increase from a $0.53 loss in the same period of 2024, indicating ongoing financial pressures during its early development stage, with material losses expected to persist in the near term.
- Increased Market Risks: Joby's stock price has fallen nearly 50% from its 52-week high, raising investor concerns about the company's future profitability, particularly after its announcement to sell $600 million in convertible notes and over 52.8 million shares of common stock, which could dilute existing shareholders' equity.
- Cautious Investor Sentiment: Given the uncertain future, Wall Street has adopted a
See More
Joby Aviation Faces Profitability Challenges Amid eVTOL Ambitions
- Significant Stock Decline: Joby Aviation's stock has fallen nearly 50% from its 52-week high, reflecting investor concerns about the company's future profitability, especially as it has yet to achieve sustainable earnings.
- Escalating Losses: The company reported a loss of $1.01 per share for the first nine months of 2025, a substantial increase from a loss of $0.53 per share in the same period of 2024, indicating financial strain during its early development phase.
- Increased Financing Risks: Joby recently announced plans to sell $600 million in convertible notes and over 52 million shares of common stock, a move that could dilute existing shareholders and heighten market uncertainty regarding its future.
- Slow Regulatory Progress: While Joby has made some progress toward regulatory approval for its eVTOL aircraft, having conducted hundreds of test flights, achieving sustainable profitability remains a significant challenge, leading investors to adopt a cautious outlook on its future development.
See More
