Joby’s Q3 Revenue Beat Expectations at $55 Million as the Air Force Raised Its Bet to $37 Million

Joby Aviation reported third-quarter 2026 revenue of $55.09 million, up 143.8 percent year over year and well above analysts’ expectations of about $38.95 million, the company said November 4. The loss per share came in at $0.22, beating the consensus of a $0.25 loss, and the net loss narrowed about 47 percent to $211.8 million from $401.2 million a year earlier. Joby raised its full-year 2026 revenue outlook by 15 percent to $135 million to $140 million, and its shares rose in after-hours trading.

Almost all of the revenue is still the old business, not the new one. The $55 million came primarily from Blade, the helicopter and seaplane passenger business Joby bought in 2025, which carried more than 44,000 passengers in the quarter. Joby ended September with $2.2 billion in cash, cash equivalents and short-term investments, and expects to use $385 million to $415 million in the second half of 2026.

The certification story advanced on two fronts. Joby said it is in the fifth and final stage of FAA type certification, completed a wide range of “for credit” testing with the regulator, and expects FAA pilots to start official flight tests in the first half of 2027. Five aircraft are flying in the final stage, with 12 more in production, and the company says Dubai flight tests with a pilot on board start later this year — though the first paying passengers now look more likely in 2027 than 2026.

Defense is becoming a second business line. The US Air Force increased its total commitment to Joby’s autonomous aviation programs to nearly $37 million and raised the maximum value of the operational testing contract to $50 million, funding autonomous flight software and expanded testing in the Pacific region. Joby’s autonomous J208 has logged 400 flights and 800 automated hours, and the company expects to close its roughly $500 million acquisition of defense-tech firm Resonant Sciences in early 2027.