The chart below shows how JOBY performed 10 days before and after its earnings report, based on data from the past quarters. Typically, JOBY sees a +4.47% change in stock price 10 days leading up to the earnings, and a -0.38% change 10 days following the report. On the earnings day itself, the stock moves by -0.82%. This data can give you a slight idea of what to expect for the next quarter's release.
Positive
Stage 4 Certification Progress: Joby Aviation has made record progress on Stage 4 of type certification, demonstrating leadership in aircraft development and testing.
Aircraft Delivery and Operations: The company has delivered its second aircraft to Edwards Air Force Base and has flown in Korea, showcasing its operational capabilities.
Funding Commitment Milestone: Joby secured over $1 billion in additional funding commitments, including a significant $500 million from Toyota, indicating strong investor confidence.
eVTOL Aircraft Deliveries: The company is the only air taxi firm to have delivered multiple eVTOL aircraft from a production line, with four aircraft delivered to date.
Aerostructure Testing Milestones: Joby completed four credit testing on a major aerostructure and first ground-based TIA testing, marking significant achievements in the sector.
TIA Flight Testing Timeline: The company expects to begin TIA flight testing in the U.S. within the next 12 months, a crucial step in the FAA certification process.
Defense Sector Commitment: Joby has trained U.S. Air Force pilots and DoD mechanics, demonstrating its commitment to the defense sector and operational readiness.
Hybrid eVTOL Flight Achievement: The company has successfully flown a hybrid hydrogen-electric eVTOL aircraft 561 miles, showcasing its technological advancements.
Strong Financial Position: Joby has a strong balance sheet with $933 million in cash and short-term investments, positioning it well for future growth.
Manufacturing Facility Expansion: The company is expanding its manufacturing facility in Marina, California, to support increased production capacity and flight training.
Negative
Quarterly Net Loss Analysis: Net loss of $246 million in Q4 2024, reflecting a loss from operations of about $150 million and other losses of $97 million.
Increased Net Loss: Net loss increased by approximately $102 million compared to Q3 2024, primarily due to a non-cash loss on revaluation of derivative liabilities.
Increased EBITDA Loss: Adjusted EBITDA loss of $119 million in Q4 2024, which was approximately $23 million higher than the same period last year, indicating increased operational costs.
Cash Flow Concerns: Change in cash, cash equivalents, and short-term investments during 2024 was at the lower end of guidance, at $450 million, indicating potential cash flow issues.
Projected Cash Usage 2025: Expected use of cash in 2025 is projected to be between $500 million and $540 million, reflecting higher hiring and R&D expenditures, which may strain financial resources.
Increased Capital Expenditures: Capital expenditures are expected to increase significantly from $41 million in 2024 as the company builds out facilities, which could impact short-term financial stability.
Joby Aviation, Inc. (JOBY) Q4 2024 Earnings Call Transcript
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