JOBY

A month has gone by since the last earnings report for Joby Aviation, Inc. (JOBY). Shares have lost about 16.5% in that time frame, underperforming the S&P 500. But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Joby Aviation, Inc. due for a breakout? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent catalysts for Joby Aviation, Inc. before we dive into how investors and analysts have reacted as of late. Joby Aviation reported a second-quarter 2026 loss of 25 cents per share, wider than the Zacks Consensus Estimate of a loss of 23 cents per share. In the year-ago quarter, JOBY reported a loss of 41 cents per share. Quarterly revenues came in at $38.6 million, surpassing the Zacks Consensus Estimate of $29 million. Revenues were up from $15,000 in the prior-year period, with Blade contributing $36.2 million in the reported quarter amid seasonal demand and strong passenger activity. In the June-end quarter, total operating expenses increased 78.4% year over year to $299.52 million. Research and development expenses rose 42.7% to $194.66 million, while selling, general and administrative expenses climbed 143.2% to $76.56 million as Joby invested in certification, manufacturing and commercial readiness and supported the growth of Blade. Adjusted EBITDA in the second quarter of 2026 was a loss of approximately $197 million, compared with a loss of approximately $179 million in the first quarter. Management attributed the sequential change to the quarter's revenue and expense dynamics. JOBY exited the second quarter with cash and cash equivalents of $629.86 million and total cash, cash equivalents and short-term investments of $2.26 billion. Long-term debt was $701.87 million at June 30, 2026. The company raised its full-year 2026 revenue outlook to a range of $115 million to $125 million from $105 million to $115 million, citing Blade's continued strength. For the second half of 2026, Joby expects to use between $385 million and $415 million of cash, cash equivalents and short-term investments. On the operating front, Joby expects its first flights under the White House-backed eIPP program in Texas in September and continues to target carrying its first passengers in 2026. The company said five aircraft are flying and another 12 are in production, while it recorded its strongest quarterly progress yet in the fifth and final stage of FAA type certification. Since the earnings release, investors have witnessed a downward trend in estimates revision. The consensus estimate has shifted -13.04% due to these changes. Currently, Joby Aviation, Inc. has a poor Growth Score of F, a score with the same score on the momentum front. Following the exact same course, the stock was allocated a grade of F on the value side, putting it in the lowest quintile for this investment strategy. Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, Joby Aviation, Inc. has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Joby Aviation, Inc. (JOBY) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Joby Aviation (NYSE: JOBY), a developer of electric vertical take-off and landing (eVTOL) aircraft, is a divisive stock. The bulls expect its revenue to soar after the Federal Aviation Administration (FAA) fully certifies its first commercial flights. Still, the bears warn that its stock is overvalued, its share count is soaring, and that it's burning too much cash. But is Joby actually in danger of running out of cash before it launches its first commercial flights? Let's see how much cash it's burning through, and if it needs to rein in its spending. Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue » To figure out how much cash Joby is burning through each quarter, we should add its net cash used in operating activities to its total capex to calculate its free cash flow (FCF) outflow. That figure has gradually risen above $200 million over the past year. However, its total liquidity -- which includes its cash, cash equivalents, and short-term investments -- more than doubled. Data source: Joby Aviation. Joby's cash burn increased as it accelerated its flight testing, manufacturing setup, and FAA certification activities. To offset that pressure, it raised more cash with a $576 million stock offering in the fourth quarter of 2025, followed by another $600 million stock offering and $690 million convertible debt offering in the first quarter of 2026. As a result, Joby's share count rose 13% over the past 12 months. It's also increased its share count by 63% over the past five years, and that dilution will likely worsen as it burns more cash. Its total liabilities also surged 156% year over year to $985 million in its latest quarter. On the bright side, Joby expects its cash runway to last for the next two to three years. That should give it enough time to obtain a full FAA certification for its S4 eVTOLs -- which it expects by the end of 2026 -- and to launch its first commercial flights. For now, investors shouldn't fret too much about Joby's cash usage. It's still firmly backed by Toyota, Delta, and Uber, and it's ahead of its closest peer -- Archer Aviation -- in the FAA certification process. They should only worry if Joby doesn't launch its first commercial flights before its cash runs out. Before you buy stock in Joby Aviation, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Joby Aviation wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $435,803!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,334,577!* Now, it’s worth noting Stock Advisor’s total average return is 966% — a market-crushing outperformance compared to 211% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. See the 10 stocks » *Stock Advisor returns as of September 2, 2026. Leo Sun has no position in any of the stocks mentioned. The Motley Fool recommends Delta Air Lines and Uber Technologies. The Motley Fool has a disclosure policy. Joby Aviation Is Burning Over $200 Million a Quarter. Here's How Long the Cash Actually Lasts. was originally published by The Motley Fool

Archer's post-earnings rally was driven by a dual catalyst: an all-stock acquisition of three Boeing units and a Q2 revenue beat of over 150%. Archer Aviation (ACHR) reported Q2 FY2026 after the close on August 10, and the stock rose 8.5% the following day. Only part of that traced to the quarter itself. What changed is that a company that has yet to certify its own aircraft agreed to buy a profitable drone maker with revenue across 35 countries, and it is paying with equity rather than cash. The deal covers three Boeing-owned businesses, Wisk Aero, Insitu, and SkyGrid, in an all-stock transaction management expects to close by the end of 2026, with Boeing taking a roughly 20% stake plus warrants. Insitu matters immediately: management says it is profitable today, with over $200 million in annual revenue across 35 countries. Archer's own revenue over the trailing twelve months is about $7 million. The stock followed the deal rather than the industry: the move came on August 11, the first trading day after the report, while peers JOBY fell 4.4% and EVEX was flat over the same span. Set against that, the reported quarter was small. Revenue was $5 million, more than triple the prior quarter, and management credits the increase to growing operations at Hawthorne Airport in L.A. The $0.25 loss per share matched consensus and was two cents narrower than a year earlier; revenue came in ahead of estimates. Midnight, the air taxi, still has to clear certification before it scales: management says Archer is in the fourth and final phase of FAA type certification, has flown more than 150 piloted test flights, and is targeting about 250 charging sites by 2030. Q2 adjusted EBITDA was a loss of $177 million against $1.6 billion of liquidity, and paying Boeing in shares leaves that liquidity intact, at the cost of roughly a fifth of the company. Preserving cash matters most when a balance sheet is still funding development rather than being funded by it, and defensible balance sheets are one of the things the Trefis High Quality Portfolio insists on in its holdings. How fast that liquidity goes out is what the spend guide addresses. For Q3 2026 management guided the adjusted EBITDA loss to $170 million to $200 million, the same range guided for Q2, spend that already carries the Midnight flight test program, the hybrid aircraft Archer is developing with Anduril and ZEE, its aviation foundation model. Once the acquisitions close, management says cash burn stays relatively flat from where it is today. That is the commitment from this report a shareholder can most directly check. The reason to own Archer has changed shape: it was a bet on certifying Midnight, and it is now also a bet that a certification company can run an acquired drone manufacturer on the same spending. Options price ACHR at an implied volatility of 80%, in the 65th percentile of its trailing year, so the market is not treating the outcome as settled either. A pop like this is the payoff for holding through the uncertainty, and it is also how sizeable positions quietly get bigger. A position that has grown large enough to matter is worth sizing deliberately rather than by accident. What a position that size would do to your net worth is exactly what the Trefis Wealth team computes, with the same rules-based systematic discipline that runs our High Quality Portfolio. Request a free vulnerability audit of your biggest positions.

Image source: The Motley Fool. Aug. 12, 2026 at 5:00 p.m. ET Head of Investor Relations - Teresa Thuruthiyil. Founder and Chief Executive Officer - JoeBen Bevirt. Chief Financial Officer - Rodrigo Brumana. Executive Chairman - Paul Sciarra. Operator: Greetings, and welcome to the Joby Aviation Second Quarter 2026 Financial Results. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Teresa Thuruthiyil, Head of Investor Relations. Thank you. You may begin. Teresa Thuruthiyil: Thank you. Good afternoon and evening, everyone. Thank you for joining us for Joby Aviation's Second Quarter 2026 Financial Results Conference Call. My name is Teresa Thuruthiyil, and I'm Joby's Head of Investor Relations. We will begin today with prepared comments from JoeBen Bevirt, Founder and Chief Executive Officer; and Rodrigo Brumana, Chief Financial Officer. For the Q&A portion of today's call, we will also be joined by our Executive Chairman, Paul Sciarra. Please note that our discussion today will include statements regarding future events and financial performance as well as statements of belief, expectation and intent. These forward-looking statements are based on management's current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied. For a more detailed discussion of these risks and uncertainties, please refer to our filings with the SEC and the safe harbor disclaimer contained in today's shareholder letter. The forward-looking statements included in this call are made only as of the date of this call, and the company does not assume any obligation to update or revise them. Also during the call, we'll refer both to GAAP and non-GAAP financial measures. A reconciliation of non-GAAP to GAAP measures is included in our Q2 2026 shareholder letter, which you can find on our Investor Relations website, along with a replay of this call. With all of that said, I'll turn the call over to JoeBen. JoeBen Bevirt: Thank you, Teresa, and thank you everyone for joining us today. It's an incredibly exciting time to be part of our industry. After many years of hard work designing, building, testing and flying our aircraft across thousands of flights and tens of thousands of miles, we're now at the point where we're preparing for commercial service. I'm pleased to confirm that next month, we intend to complete our first eIPP flights in Texas. The White House-backed eIPP program has the potential to significantly accelerate our path to commercial service, and we're grateful to the FAA for their continued partnership as we look ahead to these flights. The flights in Texas will be the first of many that bring Joby together with state and local bodies as well as the FAA to prove out the value and operational maturity of our technology. Over the course of a week, we'll be flying routes across the Dallas-Fort Worth area that lay the groundwork for future commercial operations. These Vertical Takeoff and Landing flights will demonstrate how our aircraft can transform travel across a major metropolitan area. Over time, and with extensive involvement and oversight from the FAA, we expect flights under the eIPP program to progress from those with only a pilot on board to those carrying nonpaying passengers and eventually paying passengers. And in preparation for those flights, I'm pleased to confirm that we continue to target carrying our first passengers this year. As we look ahead to commercializing our service, I've never been more excited about the potential for vertical lift. We see that potential demonstrated every day through our Blade business as customers choose to pay for journeys that give them meaningful time back. We acquired Blade just about a year ago with strong conviction in their team, their product and the opportunity presented by the network they've developed across the U.S. and the South of France. Over the past year, that conviction has only strengthened. The business continues to grow quarter-on-quarter, so much so that the core constraint we're facing on many routes is now aircraft availability rather than passenger demand. The number of seats sold in Q2 was up over 50% from the same time last year, marking Blade's best-performing Q2 on record in that respect. This quarter also saw the highest number of new flyers going to and from New York City airports since 2023, while route expansions contributed to more than 40% year-on-year growth in Hamptons revenue. We also saw positive impact from a number of key events around the world, including the World Cup and the U.S. Open here in the U.S. as well as the Monaco Grand Prix, where we sold roughly 4,500 seats to or from the race. The last quarter was so strong, in fact, that today, I'm pleased to confirm that we are raising our full year revenue guidance after Blade's revenue grew 32% year-on-year in the first half. Looking ahead, we're drawing on Joby's existing relationship with Uber to drive increased demand. This is in addition to a new partnership between Blade and Visa signed during the quarter, which gives Visa Infinite consumer and business cardholders access to a premium suite of benefits on Blade's Signature Airport service in New York. Vertical Takeoff and Landing has been our North Star at Joby since day 1, and our experience integrating Blade over the past year has only reinforced how central it is to the customer experience. Flying between airports is something aviation has done successfully for a long time. The real opportunity comes from taking customers from where they begin their journeys to where they want to go, saving them the time and friction of traveling to an airport. Blade's experience with the New York to Hamptons service brings this point to life. Customers can book a conventional fixed wing aircraft from Teterboro to Montauk today for roughly 1/3 of the price of a helicopter flight from Manhattan, and yet utilization of the helicopter service remains significantly higher. That tells us just how much customers value the time savings and convenience of beginning their journey in the city and avoiding the airport altogether. Being able to take off vertically is a fundamental part of what drives Blade's success today, and we believe the opportunity becomes even greater with the introduction of the Joby aircraft, which is quieter, less expensive to operate and designed specifically for journeys like these. In July, I had the opportunity to experience this convenience for myself, flying to and from the Farnborough Air Show. Despite being one of the world's largest air shows, everyone still arrives by road or rail, on journeys that can take up to 2 hours. We ran our Blade service there for the first time, connecting Central London to Farnborough Airport in just 18 minutes, selling out seats on several days and underscoring the value of vertical lift in the U.K. market. While we were at Farnborough, we signed a multi-year definitive agreement with Virgin Atlantic that builds on that opportunity and sets out a path for us to launch service across the U.K. with a particular focus on London and Manchester. We also held more than 150 meetings with regulators and stakeholders from markets around the globe, including a veritable alphabet soup of regulators that included the DfT and the CAA from the U.K., EASA from Europe, GACA and the GCAA from the Middle East, the U.S. DOT and the FAA as well as ANAC from Brazil, to name just a few. And there was one common thread amongst all these meetings. They are just as excited about vertical lift as we are and are watching Joby's progress closely. They're seeing the positive ripple effects of the eIPP program, and they're asking how they can unlock the same level of momentum we're seeing in markets like the U.S. and the UAE. As well as seeing great support on the regulatory side in those markets, we're also making incredible progress with infrastructure. Earlier this week, we announced a strategic partnership with Atoms, the industrial AI infrastructure company founded by Travis Kalanick. Travis co-founded Uber in 2009, the same year that I founded Joby. And since our first jam session in 2015, the one that seeded Uber Elevate, he's been all in on electric flight. He's one of the most dynamic founders of this generation with a rare ability to see the whole system and turn ambitious ideas into real industries. Together, we're working on doing just that again with a joint understanding that the next revolution in transportation requires not only new vehicles, but also new infrastructure. Our shared vision goes beyond air taxis. With the rollout of autonomous vehicles gaining significant momentum, we see an opportunity to create a new class of mobility hub designed from the outset to support both technologies. These hubs will combine takeoff and landing and charging for electric aircraft with charging and depot services for autonomous vehicles, sharing fixed costs, creating stronger operating economics, delivering seamless journeys for our customers and even greater value for the communities in which we'll operate. The Atoms team is world-class with deep expertise across acquisition, financing, development, electrification and permitting. And after 8 years of working in stealth, recently raised $1.7 billion with lead investment from a16z to support their growth. Our own aviation experts will now work alongside the Atoms team to identify and develop the best sites for our network. We'll be focusing initially on Florida, New York and Texas, the same markets where we're preparing to launch early operations under the eIPP program, as well as here in California. In addition to our own progress on infrastructure, we continue to see accelerating momentum and investment by states and airports here in the U.S., infrastructure partners across the industry and countries around the world. Florida enacted legislation, allowing the state to fund certain vertiport projects at up to 100%, committing millions of dollars to activate new sites all over the state. We're excited that Orlando is already moving forward with developing a vertiport in the central terminal area of one of the country's busiest commercial airports. In Dubai, at the Marina, the second of 4 vertiports being built by our partners, is nearly complete. And we continue to see meaningful progress on infrastructure in markets like Japan, the wider UAE, Korea and Australia. To make the most of this momentum, we still have to deliver our part, the aircraft and the service, and I'm pleased to report excellent progress there, too. We now have 5 of our electric air taxis in the air, including our first FAA conforming aircraft. And we have 12 more aircraft in various stages of the production process, including 2 set for delivery this year. As we've said before, manufacturing is hard. Anyone who has tried to do it at scale will tell you that, and building conforming aircraft represents a step change in complexity. We are putting in the hard miles now so that we're ready to make the most of all of the opportunities I've just described. Over the last quarter, we've worked tirelessly to remove bottlenecks and improve processes. And during the first 6 months of this year, as just one example, we reduced the nonconformance rate in our manufacturing processes by nearly 40%. This represents excellent progress as we move from R&D builds to low rate production. During the quarter, we also took a significant step forward in our relationship with Toyota, forming a joint venture that lays the groundwork for high-volume commercial production, helping to significantly reduce the risk of one of the greatest challenges ahead of us. We're incredibly grateful to have had Toyota, the world's largest automaker, at our side for more than 7 years, leaning into that challenge and working with us to bring the best of automotive manufacturing to aviation. We'll share more about our plans for the strategic alliance in due course, but I'm pleased to say that a senior Toyota manufacturing leader is set to join our Marina team shortly as we continue to work ever more closely together. By investing together in the people, facilities and systems required for production, we will create a more capital-efficient path to scale and a manufacturing system designed from the outset to deliver exceptional quality and consistency at volume. I'd like to end where I started, with the eIPP program. As I've said, the program promises to be an important opportunity to accelerate commercialization and a critical part of that will be the safe and effective integration of our aircraft into the national airspace. In April, we announced a partnership with ASI focused on this work. And I'd like to congratulate ASI on being recently selected by the FAA to provide the central software infrastructure for managing traffic across the U.S. national airspace system. ASI is effectively building an operating system for airspace, the invisible infrastructure that will allow us to scale access to our skies. It's an honor to be partnered with them, and we look forward to collaborating on airspace integration as part of our eIPP work. It's incredibly exciting to see all of these pieces coming together, and I hope everything we've shared today gives you a real sense of just how close we are and how ready we are for commercialization. We're building the infrastructure, we're building the aircraft, we're building the customer base and we're building our operational experience. And on top of it all, we just had our strongest quarter yet in terms of progress on the fifth and final stage of type certification. Taken together, everything I've described today is how we will unlock the third dimension of mobility and turn electric vertical flight from an extraordinary technology into an everyday reality, giving people their time back and fundamentally changing the way we move. And with that, I'll hand it over to Rodrigo. Rodrigo Brumana: Thank you, JoeBen, and good evening everyone. As JoeBen said in the beginning of the call, the revenue raise is a big part of today's story and Blade is a big part of the reason. The way Blade delivered is exactly what's giving us the confidence to increase guidance. On a more personal note, it was great to see many of you at Farnborough last month. What struck me there was the energy in the room wasn't just talk. It was a response to real execution, progress on certification, on manufacturing and on building the commercial foundation for the eIPP. What I would like to do now is put numbers to that progress and walk you through how we're deploying capital against it with the usual discipline. Let me start with the second quarter financial results. We ended the second quarter with approximately $2.3 billion in cash, cash equivalents and short-term investments. Our Q2 use of cash, cash equivalents and short-term investments totaled approximately $202 million compared to $195 million in the first quarter, which included the net cash impact of our Ohio facility purchase. Excluding that onetime Ohio investment, our first half 2026 use of cash was $365 million, which is within our guidance range of $340 million to $370 million. Additional detail is available in our Q2 shareholder letter. Total property and equipment investment in the quarter was approximately $29 million compared to $78 million last quarter. With the Ohio purchase behind us, CapEx declined sequentially, though it remains elevated versus prior years as we build out manufacturing capacity. Revenue for Q2 was $39 million, primarily from Blade passenger business and up $14 million from the prior quarter. Blade delivered a standout quarter, supported by the seasonal summer ramp, favorable weather and elevated demand around major events. We are pleased with that momentum. It exceeded our expectations, and it's reflected in the raised guidance we'll walk you through shortly. Total operating expenses for Q2 were $300 million compared to $258 million in Q1. The $42 million increase was primarily driven by $23 million of continued investment to support certification, manufacturing ramp and commercial readiness, $11 million in costs related to increasing revenue and $8 million in other expenses. On a GAAP basis, we reported a Q2 net loss of $245 million compared to $110 million in the prior quarter. Most of that increase was related to a $108 million noncash unfavorable change in the fair value of warrants and earn-out shares. The rest was a $27 million increase in loss from operations. Keep in mind that fair value revaluation is driven primarily by changes in our share price and can introduce meaningful noncash volatility from quarter-to-quarter. Adjusted EBITDA, a non-GAAP metric that we reconcile to net income in our shareholder letter was a loss of $197 million in Q2 compared to a loss of $179 million in Q1. The $19 million change quarter-over-quarter reflects the revenue and expense dynamics I just described. Stepping back for a moment, the mix of our spending is shifting to preparation for commercial operations as well as aircraft production. In the first half, capital expenditures were $107 million, including $62 million for Ohio and $15 million for Hollister, where we have invested in expanded flight test capabilities. We expect capital spending to run below the first half pace in the back half, though still elevated relative to prior years as we keep investing in manufacturing and commercial infrastructure. And we will continue to size that spend to respective milestones. As we advance our U.S. go-to-market through eIPP, we are investing in the foundation required to carry passengers: Part 135 operations, maintenance and training and the systems that turn an aircraft into a running service. It is an exciting time. We see the eIPP as complementary to certification, a parallel path to build, improve the commercial side of the business, while certification continues on its own track. We are expanding as we hit milestones, not before. On manufacturing, our joint venture with Toyota lets our teams work side by side to scale production. It also let us share the investment required to build that capability, leveraging Toyota's decades of production expertise. As we finalize the remaining supply agreements, we continue to expect Toyota's $250 million direct investment in Joby to close later this year or early next. Now on to our guidance. Our approach to capital remains disciplined and milestone driven. As we move through the back half of the year, we are managing spend to optimize for certification progress, production ramp and increasingly commercial readiness through the eIPP. For the second half of 2026, we expect to use $385 million to $415 million in cash, primarily to support certification, manufacturing, eIPP and commercialization. This step-up from the first half reflects deliberate investment in commercial readiness as we scale into operations. And as always, we can stage a portion of that spend to match our progress, keeping our usual capital discipline. On revenue, given Blade's continued strength and healthy demand for air mobility, we are raising our full year guidance to a range of $115 million to $125 million from a prior $105 million to $115 million range, with $63 million in revenue already recognized in the first half and Blade typically peaking in the third quarter, we feel good about delivering on this increased range. Thank you for your continued support. And operator, please open the call for questions. Operator: [Operator Instructions] Our first question comes from the line of Andres Sheppard with Cantor Fitzgerald. Andres Sheppard-Slinger: Congratulations on the quarter and all the great progress, and it was great to see everyone at the Farnborough Air Show a few weeks ago. First question, I guess I have is just coming back to the eIPP. So again, a lot of great progress here and initial flights in September and first passengers in 2026, very exciting. I guess my question here, maybe for you, JoeBen, is how are you thinking about utilizing your current fleet across these projects and including maybe your aircraft in production? Like how do you expect, I guess, to deploy these across the different projects? And then maybe secondly, and I realize this might be a bit early, but do we have a sense of revenue-generating opportunities that may come from the eIPP? JoeBen Bevirt: Thank you, Andres. It was wonderful to see you in Farnborough. I'll take the first part of that and then pass it to Rodrigo. The eIPP is really a spectacular opportunity that's been provided to us, and we're really excited about it, really excited about beginning that in Texas with our existing fleet and expanding that over the months to come and out into 2027 as we bring more and more aircraft online. As I mentioned in my prepared remarks, we have our first conforming aircraft flying, and we have 12 more that are in production. That's an increase of 4 additional aircraft this quarter into our production queue. And the reason we're leaning so hard into manufacturing is the incredible opportunity that we see in front of us, both with eIPP and, as Rodrigo spoke about, with the incredible performance of the Blade division. With that, I'll hand it to Rodrigo. Rodrigo Brumana: Yes. Thanks, JoeBen, and good to see you, Andres, in Farnborough. Look, it's premature to provide forward guidance on the numbers today. But the reason we're so excited about this program is because it's giving us the opportunity to monetize every single aircraft that comes off our production for the foreseeable future. So think about the eIPP markets alone. So we're talking about Texas, Florida, New York, that alone could absorb the whole production for quite some time. And let's not forget about California, our backyard here. So #1, we want to maximize that opportunity, and that's why we're so focused on production growth. And we started that not yesterday. We started much earlier than that. And don't forget, we intended to start passenger operations in Dubai as well, that will be on top. And I think Blade is showing us that vertical lift, what it can do. We saw a record quarter, and you were actually to experience that benefit while you're there in the U.K. Andres Sheppard-Slinger: Wonderful. That's very helpful. Really appreciate that color. Maybe just as a quick follow-up, JoeBen, maybe a bit of an unconventional question. But at the Farnborough Air Show, you highlighted hydrogen as an exciting kind of new propulsion system. And so I guess my question there is maybe can you elaborate on that? How material is that to the story? I know it's maybe not talked about enough, but that was a bit differentiated. So just curious on how you're thinking about that and maybe some potential opportunities there that you're considering. JoeBen Bevirt: Thank you so much, Andres. So hydrogen has been something we began pulling the thread on back 6-plus years ago. Just to set the context, hydrogen has 3x the specific energy of jet fuel. And with our fuel cell systems, we can convert that chemical energy into propulsion about twice as efficiently as a small turbine converts jet fuel into propulsion. And as a result, you can do really game-changing things with aircraft design. If you think about this in the context of a long-haul aircraft, take an A320 versus an A350. So the A350 flies twice as far with twice as many passengers, it weighs 4x as much. It takes off with more weight in jet fuel than weight in passengers. And that aircraft also costs 4x as much. So it costs twice as much per passenger, weighs twice as much per passenger. And that's all down to the fuel being very, very heavy. And so if you have a lighter weight fuel, you can do really game-changing things with aircraft design. We think this is the biggest disruption in aviation since the invention of the turbine engine back in the 1930s. And we think that by being one of the world leaders, if not the world leader, we're going to see really significant upside over the years to come. Operator: Our next question comes from the line of Savi Syth with Raymond James. Savanthi Syth: Just on Blade perhaps, I was kind of curious what you're seeing given the kind of the fuel increase here and still relying on fuel. Just what you're seeing in terms of kind of pass-through and kind of the ability for demand to kind of absorb that? And any high-level thoughts on margins this year versus maybe the potential there as kind of if you might pull back? Rodrigo Brumana: Savi, I think your question, and this is Rodrigo here, about the demand. Look, #1, if I look at Blade itself, the acquisition has been a home run. You saw that in the quarters here. We just did -- had the highest number of seats sold in Q2 in our history. And most importantly, the highest numbers of new flyers from NYC in New York since 2023. What that's telling you is the demand for vertical lift is very high. So Blade has been a home run acquisition for us. We are lapping the first year pretty soon, and they have reaccelerated their growth. That's coming from the focus from the management in the high demand that we have for the service. And it's been a very valuable infrastructure that we acquired. So if you think about what we did here, we acquired an already built infrastructure, a loyal and growing customer base that loves the benefits of vertical lift, and a decade of know-how. So we put this all together, this is a very growing demand for us. Look, now in terms of the -- I guess, your question is more like for the operating costs, I would say flight margin has improved, and you're not seeing a direct impact that will be flowing through the bottom line. Right now, we are running a business that is not consuming cash and in fact, it is contributing on the growth. And also, I think the team is doing a pretty good job in terms of selling the capacity that is available to the demand that's quite high. Savanthi Syth: That's helpful. I appreciate that. And maybe if I could briefly follow up on Andres' question on the eIPP side. Just on the aircraft that you plan to use, is that the certification conforming aircraft that you plan to use in those flight tests? Or are you able to kind of use some of the prior generation aircraft as well as you kind of progress through that flying? JoeBen Bevirt: Thank you so much, Savi. We're going to use a mix of different aircraft, both aircraft from our existing fleet as well as producing as many aircraft as we possibly can off of our company conforming production line. Operator: [Operator Instructions] Our next question comes from the line of James Kirby with JPMorgan. James Kirby: I just wanted to ask on the scale and ramp, JoeBen. And I appreciate the color you answered in the previous question on the 4 incremental in development aircraft quarter-over-quarter. Is that the right cadence to think of for the back half of the year? I think you mentioned 2 are expected to be delivered later this year. So is the right way to think about that, that you expect to end the year with 7 aircrafts flying? JoeBen Bevirt: Yes. Thank you so much. We are, as I mentioned, ramping our manufacturing as aggressively as we can. We've been making really phenomenal progress on the nonconformance rate, which translates directly into improvements in efficiency and improvements in output. And so we are going to continue to add new aircraft into the build -- the front end of the build queue because there is a lag between when we start a build and when the aircraft comes out the back end. As I mentioned, we're targeting at least 2 aircraft to come off the line over the back half of the year and hoping to over deliver. James Kirby: Got it. That's really helpful. And then for my second question, just in light of recent industry announcements on the defense side, maybe just want to give you a chance to really just clarify, and I know you've been asked on almost every call on the end markets for defense. But maybe just where the defense fits into the Joby ecosystem and particularly where you prioritize it with the eIPP obviously ramping in the coming months? Paul Sciarra: Yes. Thanks a lot for the question. This is Paul. Obviously, there's been a lot of conversation across the industry around hybrid VTOL for defense. And we have been working on this category for going on 2 years and not just working on it, but actually demonstrating improved range, improved capability in conjunction with moving to a hybrid platform on real aircraft that are flying. And we think that puts us in a really strong position to take advantage of the opportunities that we see before us across multiple different customers across the DoW. Now look, the mission types for vertical lift vehicles for those customer sets are really wide. There are areas in strike, areas in ISR, areas in infil and exfil, particularly for passenger carrying versions that I think are all super exciting for the core capabilities that we're demonstrating. And I think one of the things that you're seeing more broadly in defense is that it used to be that spec sort of delivered on capabilities. But actually, the reverse is largely true now, or at least there's an interplay between the 2. And it's demonstrating capabilities that allow you to shape the specifications that the customer wants. So that's why we've been doing the work and why we think we're going to be well positioned to take full opportunity of all of those defense customer use cases. Operator: Our next question comes from the line of Amit Dayal with H.C. Wainwright. Amit Dayal: With respect to the eIPP program that's about to start for you guys, are there any aspects of running the eIPP program that could give you certification credits? Or should we think of these as separate efforts with no overlap? JoeBen Bevirt: Yes. Thank you so much. We do see the potential for there being -- the potential to accelerate our overall certification program on the back of a lot of the flight testing and experience that we gained through the eIPP program. Just as a recap, we're working very closely with the FAA as well as local municipalities as we conduct our flights and operations under the eIPP program. And that close coordination, we think, has the potential to pay dividends. Amit Dayal: And then my follow-up, I guess, is around the Atoms partnership. Should we assume this partnership implies that you could be shouldering some of the CapEx that goes into developing the vertiports? I just wanted to see if this potentially adds some additional burden on your balance sheet or if that is not a correct assumption? Paul Sciarra: Thanks for the question. So it is a co-investment vehicle, and both parties are going to contribute capital. But most importantly, when it comes to the way in which it's structured is that Atoms has built up a number of financing relationships over a long period of time, given their work in real estate development and operation for many, many years now. So we get to be the beneficiary of a lot of the relationships and the credibility that they've already sort of built out. JB already mentioned sort of in the outset how we're going to sort of lean on the Atoms team for site identification, procurement and in turn, sort of build-out and operations. And that in turn means that we have a smaller share of the lift for all of the sites that we develop. But I think the most important thing really is the opportunity to kind of help to define a brand-new asset class. With 2 important new modes of transportation entering U.S. cities over this year and the coming years, that is autonomous vehicles on the ground and eVTOL aircraft in the air. We're going to need this sort of new infrastructure. And I think if we can go out and demonstrate its viability in conjunction with the smart folks over at Atoms, we really can define this new asset class that us and others continue to develop in more markets and a greater scale over time. Amit Dayal: Understood. Just can I maybe just ask one question on the 2 aircrafts that you are planning to deliver this year, who are those going to? If you can share any color on that? JoeBen Bevirt: So as I mentioned at the outset, we have far more demand for aircraft than we have the production or we're able to produce at the moment. And so we're ramping production. We've not specifically decided the destinations for those 2 aircraft. Dubai and the UAE remain very high on our priority list. But we will make strategic decisions as those aircraft come off the line. Operator: Our next question comes from the line of Austin Moeller with Canaccord Genuity. Austin Moeller: So of the conforming aircraft that are currently in the assembly phase, do we have any timetable on when some of those are going to come off the line? I know one of them is already in ground testing, but when those would come off the line and start conducting flight tests because our thinking should be that it's 12 months from when TIA flight testing starts to cert, correct? JoeBen Bevirt: Thanks, Austin. So just to kind of recap it for folks, we have -- the first step is doing the work on Stage 5. And as we reported, is the final stage of certification. We reported record progress on Stage 5 this quarter. So really thrilled with the work the team is doing there. That is about running the component level testing, the system level testing and writing those test reports, making great progress on that. The second piece is preparing the flight test plans that first Joby pilots will get in and fly on those aircraft. And then it is about -- the third stool -- leg of the stool is we need to expand the flight envelope on that first conforming aircraft. We've done that work already on our prior series of aircraft, which are, for all intents, very similar to our FAA conforming aircraft. And so we're, in a sense, repeating those exercises. The other element that we're now working on in parallel is this work on the eIPP. And we see that as an incredible opportunity, but also an additional burden on the team. And so we think that it has the potential -- in the short term, it's additional effort. But as I said earlier, it has the potential to accelerate our overall certification program. But the short term may be some extra load. Austin Moeller: Okay. And can you comment on the incremental $250 million equity investment that's expected from Toyota? Does that go to you now? Or would that go within the JV? Rodrigo Brumana: Austin, Rodrigo here, and I look forward to seeing you in the conference next week. Short answer is it's coming and it's going to go directly to Joby Inc. Should expect that by the end of the year or early next year. Operator: Our next question comes from the line of Chris Pierce with Needham & Company. Christopher Pierce: I just want to -- can you help me sort of level set what to expect in September and through the rest of the year in Texas? Like should this look like the Electric Skies event? Should this look like ONEflight? Or could this be high -- not high frequency, but an aircraft there flying on a semi-regular basis? And are these passengers kind of one-off type passengers? Are they able to book through the Joby app or the Uber app? Like I just want to kind of know what we should be looking for at the start and how it progresses? JoeBen Bevirt: Yes. Thank you. Just as a recap, this is staged. So it will begin with Joby pilots on board and then progress to passengers, and then further on down the road, paying passengers. And so that's the progression you should expect. With the flight -- specifically the flights in Texas, we're planning that over a course of a week. And we plan to do a number of flights that allow us to really get comfortable operating in the Dallas-Fort Worth airspace. We see this as a tremendous opportunity and Texas is a really, really exciting market for us and for the industry as a whole. Christopher Pierce: Okay. Perfect. That make sense. So we shouldn't expect -- that's fine. I get it. Okay. Perfect. And then on the talk about ramping production. I guess, how should we think about when you might churn Ohio on, when investors might be able to have boots on the ground, and sort of really see the higher tempo production as you move beyond sort of the cadence you laid out in 2027, the cadence you've laid out towards the end of this year? JoeBen Bevirt: Yes. Thank you. So the ramp in Ohio for the components we're manufacturing there has already gotten going, and the team is doing a spectacular job of producing conforming components out of that facility. And we are also ramping at our facilities in San Carlos and in Marina. We expect to continue to ramp each of those facilities in parallel as we increase our manufacturing volume over the quarters to come. So if you're interested in seeing our manufacturing operations, we would love to have you. We think we're doing a really remarkable job, and it's really fun to come see. Christopher Pierce: Okay. And then just flipping back to Austin -- to Andres' question. I believe you talked about -- sorry if this came up on the call, but Dubai, you're still anticipating passenger flight there this year? Or that's sort of -- because of the conflict that's sort of not lower priority, but just that's a lower likelihood event? Or has anything changed in that regard? JoeBen Bevirt: So our partners there are as leaned in as ever, the RTA and the GCA (sic) [ GCAA ] as well as our infrastructure partners. The first vertiport is done. The second one is close to completion. The third is progressing well. And that is really significant because the degree to which the government there is leaned in on making this new mode of transportation a reality. I was over there about a month ago, and it is -- we think that Dubai, the UAE and the region as a whole is a really remarkable and exciting opportunity, and we can't wait to get back to flying there. As a reminder, we have an aircraft over there, and we're really -- we can't wait to get going. Operator: Our next question comes from the line of Kristine Liwag with Morgan Stanley. Kristine Liwag: By the way, it was great to fly Blade at Farnborough last month. Our roughly 15-hour flights certainly beat -- 15-minute flight, excuse me, beat the 2-hour drive back to Central London. So I guess pivoting to Blade then, can you provide an update in terms of how you're viewing that business strategically? Specifically, how much of Blade's current operations are focused on retaining and servicing the existing customer base versus potentially expanding that customer base ahead of the Joby eVTOL aircraft certification? And how do you think about balancing that near-term operating discipline versus accelerating Blade as a demand generation platform? Paul Sciarra: Thanks a lot, Kristine. This is Paul. So I mean, as you saw from the numbers and as you saw from the guide, we're feeling really good about the existing Blade footprint and really the demand signal that we're getting from those core markets. The principal issue that we've had in terms of scaling it beyond that existing demand is aircraft availability, which is obviously something that we hope to solve with a better, quieter aircraft in relatively short order. Blade has had tons of opportunity to sort of potentially expand its overall footprint, and we're evaluating those on a pretty regular basis. Obviously, some of that work is happening in the eIPP markets that will be Joby launch sites as well. So we're kind of taking each of them in turn and evaluating the core merits about whether or not it makes sense to do or not. But as I said, in terms of the core of the business, we couldn't be more pleased with both the signal that we are getting directly from customers, the operational experience that Rob and the broader team sort of bring, given their work on this for years and years. And finally, the insight on the kinds of journeys, not just airport to airport, but airport to non-airport that really make this whole thing work. Teresa Thuruthiyil: Perfect, thank you. And thank you to all the analysts who asked questions today. Earlier this week, we invited members of our community to submit questions as well. And I think we have time for at least one of those now. The first question actually is about modernizing ATC. The question is, will Joby have any involvement with ASI's FAA contract to modernize the air traffic control system? Paul? Paul Sciarra: Yes. So we started our partnership with ASI earlier this year, and we were very excited that they were selected by the FAA for one important component of the broader ATC modernization, the sort of smart program. We will be working with ASI in short order to essentially trial their tools in the existing airspace, both with Blade operations and with Joby eVTOL operations. We see it as a very important sandbox with a small number of aircraft and a limited geography to essentially prove out the additional performance that we can bring in terms of flight frequency from sort of key locations. And that's really the role that we're going to play in conjunction with ASI on that effort. But look, more broadly, when you think about the ATC modernization and there are other pieces of that, that are coming, including [ caps ] ground infrastructure, all of it is really in service, I think, of allowing us to increase the frequency of both existing and future operations beyond what is possible in existing ATC. So it has very real benefit, revenue benefit and profitability benefit for Joby over time. And then even more importantly, it's really the steppingstone for fully autonomous commercial operation, which we're progressing well with our Superpilot autonomy stack that we acquired via the Xwing acquisition. So the ATC modernization is an opportunity to both increase the revenue opportunity of current and future piloted operations, and then over time, really expand the scope and scale of autonomous operations, which are both super exciting for the long-term business. Teresa Thuruthiyil: Great. Thank you. Thank you everyone for joining us today. We greatly appreciate your support. We'll talk to you soon. Operator, please go ahead. Operator: Thank you. And this does conclude today's conference, and you may disconnect your lines at this time. We thank you for your participation. Before you buy stock in Joby Aviation, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Joby Aviation wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. 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As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Joby Aviation (JOBY) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

Archer Aviation surged 11% Tuesday as earnings-call details revealed Boeing's Insitu subsidiary generates $200M+ annually and can fund Archer's operations independently. JOBY shares dropped 2% and EH stayed flat, indicating that the rally is Archer-specific and not a broad eVTOL sector move. Despite back-to-back double-digit rallies, ACHR remains down 10% year to date, with an analyst target of $10.50 implying meaningful upside potential. It sounds nuts, but SoFi1 is giving new Active Invest users up to $3,000 in stock for a limited time, and all it takes is a $50 deposit to get started.2 See for yourself (Sponsor) Archer Aviation (NYSE:ACHR) stock is climbing 11% to $6.93 Tuesday morning, extending Monday's 12% deal-day pop as investors continue to digest details from Archer's Q2 2026 earnings call. The move follows Monday's coverage of the Boeing (NYSE:BA) tie-up with Archer Aviation and reflects Day 2 follow-through on the same story. Archer's air-taxi peers aren't rallying with ACHR stock. Joby Aviation (NYSE:JOBY) shares are down 2% to $8.59, and EHang Holdings (NASDAQ:EH) shares are unchanged/flat at $5.68. The Invesco QQQ Trust (NASDAQ:QQQ) ETF is idle at $720.16, underscoring that this is a company-specific event, not a sector or index-driven rally. The fresh catalyst is the color that Archer Aviation's management provided on the call about the deal. Archer disclosed that its Q2 revenue came in at $5 million, up 213% quarter over quarter and well above the $1.96 million consensus. The per-share loss came in line with estimates, and Archer stock is responding to the growth setup rather than the bottom-line print. Archer Aviation CFO Priya Gupta framed the acquired Boeing subsidiary Insitu as a profitable business generating more than $200 million of revenue a year that is expected to contribute positive free cash flow, allowing Archer to operate on a "self-funding basis" and "significantly change the profile for Archer." CEO Adam Goldstein positioned the defense and drone assets as a route to profitability that reduces both cash burn and dilution risk. SoFi Active Invest is offering a limited-time promotion. Open an account, fund it with $50 or more, and you could receive up to $3,000 in complimentary stock for Active Invest accounts. See for yourself by clicking here now. (Sponsor) The cash-burn picture still matters. Archer Aviation posted a Q2 adjusted EBITDA loss of $177.1 million and guided Q3 to an adjusted EBITDA loss of $170 million to $200 million. The company ended the quarter with roughly $1.6 billion in liquidity, giving it runway to close the Boeing transaction and continue certification work. The Day 1 catalyst was Archer's all-stock agreement to acquire Boeing's Wisk Aero, Insitu, and SkyGrid subsidiaries, giving Boeing a 16% stake in Archer alongside a technology-sharing arrangement. None of those Boeing units trade separately. Boeing shares closed Monday at $232.79, and Boeing stock has barely moved on the news. Operational milestones stack the bull case. The Midnight aircraft has completed piloted city-to-city flights, and Archer says it is the only OEM in the final phase of FAA type certification. Management flagged its Halo-Thunder autonomous VTOL platform, developed with Anduril, as targeting a total addressable market above $100 billion with first flight next year and deliveries in 2029, alongside the ZEE aviation AI foundation model. Joby Aviation stock and EHang stock haven't participated in the ACHR stock rally, which is notable given both compete in the broader eVTOL and urban-air-mobility category. Neither name has issued fresh news today, and the flat print in QQQ shares (which doesn't hold small-cap Archer) reinforces that the stock is reacting to Archer's own catalysts. The one-day divergence is a clean signal that money is chasing the Boeing-driven pivot toward defense revenue, not an eVTOL basket rally. The broader picture for Archer stock is still mixed. Even after this pop, ACHR shares are down 10% year to date (YTD) and down 29% over the trailing year. The analyst target price of $10.5 implies meaningful upside if the Boeing deal delivers as guided. Investors can watch for signs of the Boeing acquisition closing by year-end, the first commercial eIPP flights in Texas and the Los Angeles area before year-end, and updated analyst notes reacting to the self-funding framing. 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Interested in Loar Holdings Inc.? Here are five stocks we like better. Record quarter: Loar’s second-quarter sales rose 17% year over year to $172 million, while adjusted EBITDA margin expanded 220 basis points to a record 40.5%. Commercial OEM sales led growth, increasing 28%, supported by stronger Boeing and Airbus demand. Raised 2026 outlook: The company now expects $665 million-$675 million in sales, $265 million-$270 million in adjusted EBITDA and adjusted EPS of $1.32-$1.36, with no additional acquisitions assumed. Strong growth pipeline: Loar’s organic business pipeline reached approximately $750 million over the next five years, including $200 million of opportunities already secured through certifications, qualifications or purchase orders. Recent acquisitions Beadlight, LMB and Harper are performing ahead of expectations. Archer or Joby: Which Aviation Company Might Rise Fastest? Loar (NYSE:LOAR) reported record second-quarter sales, adjusted EBITDA and adjusted EBITDA margin, while raising its full-year 2026 outlook as commercial aerospace demand and organic business wins supported growth. Chief Executive Officer and Executive Co-Chairman Dirkson Charles said the quarter marked the company’s 16th consecutive quarter of sequential adjusted EBITDA growth. He attributed the results to collaboration across business units, focused resource allocation and demand across commercial OEM, commercial aftermarket and defense markets. → Sandisk Just Delivered a Blowout Quarter—Here's Why the Stock Is Falling Second-quarter sales rose 17% year over year to $172 million on a pro forma basis that includes Beadlight, LMB Fans & Motors and Harper Engineering. Net organic sales increased 12% from the prior-year quarter, according to Treasurer and Chief Financial Officer Glenn D’Alessandro. Commercial OEM sales increased 28% from the second quarter of 2025, making it the company’s fastest-growing end market for the second consecutive quarter. Charles said improved supply-chain conditions had unlocked demand for Loar’s components, with the Boeing 787, Airbus A320 family and Boeing 737 family among the platforms showing the largest sales increases. → 4 Oil and Gas ETF Plays as Prices Stay Sky-High Commercial aftermarket sales increased 12%, driven primarily by secular growth in air travel, D’Alessandro said. Charles said customers have been ordering more conservatively than earlier in the supply-chain disruption cycle, but he did not express concern about an inventory-related downturn. He said inventory levels in the supply chain had declined and that Loar expects stronger commercial aftermarket growth in 2027 than in 2026. Defense sales increased 8% from the prior-year period. Management said the defense business remains subject to uneven government ordering patterns, particularly against a strong comparison in the prior year, but it sees no change in the underlying health of the market. → No Hangover: Revisiting Microsoft One Week After Earnings For the full year, Loar expects commercial OEM revenue to rise by a high-double-digit percentage, commercial aftermarket sales to grow by a low-double-digit percentage, and defense revenue to increase by a mid-single-digit percentage. The outlook is on a pro forma basis, assuming all business units had been owned since the start of 2025. Adjusted EBITDA increased by $20 million year over year, while adjusted EBITDA margin expanded 220 basis points to 40.5%, from 38.3% a year earlier. D’Alessandro cited operating leverage and execution of the company’s strategic initiatives, including productivity efforts, new-business wins and value-based pricing. Gross profit margin declined 60 basis points, largely due to higher non-cash amortization associated with acquired intangible assets from LMB and Harper Engineering. Excluding that non-cash effect, gross margin would have increased 100 basis points from the prior-year quarter, D’Alessandro said. GAAP net income was flat from the second quarter of 2025, as higher operating income was offset by increased interest expense and amortization. Adjusted net income rose $9 million, or 35%, year over year. Charles also emphasized cash generation, saying year-to-date operating cash flow less capital expenditures was 1.9 times reported net income. He said the first-half cash-flow trend should continue in the second half, potentially improving as bonus and tax payments become less of a factor. Loar said its organic business pipeline now represents about $750 million in potential revenue expected to convert over the next five years, up about $50 million from the amount discussed in May. The company said it has secured initial orders representing approximately $200 million in cumulative organic revenue over that same five-year period. Director of Investor Relations Ian McKillop said the wins include newly certified or qualified products for OEM and aftermarket applications, such as brakes, fluid sensors, switches and seating restraints. The $200 million of opportunities have moved into Loar’s base business after certification or qualification, management said. Charles said Loar has shifted engineering resources toward projects with clearer customer demand and a higher likelihood of profitable commercialization. The company spends approximately $30 million to $40 million annually on engineering, he said. Management said the $200 million of identified revenue is not primarily governed by long-term agreements, but is supported by purchase orders, certifications and, in many cases, sole-source positions. Charles said the company expects new business to become a more significant long-term growth contributor than it was historically. Loar raised its 2026 guidance, now forecasting: Net sales of $665 million to $675 million. Adjusted EBITDA of $265 million to $270 million. Adjusted EBITDA margin of approximately 40%. GAAP net income of $56 million to $60 million. Adjusted earnings per share of $1.32 to $1.36, up from prior guidance of $1.26 to $1.30. Capital expenditures of about $20 million, or roughly 3% of sales. The guidance assumes no additional acquisitions. Charles said management expects to meet or exceed its updated outlook, while noting that the company must continue investing in capacity to meet demand in areas including fans and motors, restraints and brakes. Executive Co-Chairman Brett Milgrim said Loar continues to pursue one to two acquisitions annually, maintaining its focus on proprietary aerospace and defense businesses with high barriers to entry and balanced OEM and aftermarket exposure. Since becoming public about two years ago, Loar has announced four acquisitions and invested more than $1.1 billion in mergers and acquisitions. Management said Beadlight, LMB and Harper are all performing ahead of expectations. Charles said LMB’s demand profile may require further investment to expand capacity beyond Europe, while Harper is benefiting from demand tied to the Boeing 787 and could reach Loar’s targeted EBITDA growth objectives faster than expected. Loar Holdings Inc, through its subsidiaries, designs, manufactures, and markets aerospace and defense components for aircraft, and aerospace and defense systems in the United States and internationally. It offers products in various categories, which include airframe components, structural components, avionics, composites, braking system components, de-ice and ice protection, electro-mechanical, engineered materials, flight controls, fluid and motion controls, environmental, metal forming, molded components, and restraints and safety devices. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Loar Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Interested in Joby Aviation, Inc.? Here are five stocks we like better. Joby plans to begin eVTOL integration pilot flights in Texas next month, initially carrying only a pilot before progressing to non-paying and eventually paying passengers under FAA oversight. The company continues to target carrying its first passengers commercially this year. Second-quarter revenue rose to $39 million, driven mainly by Blade’s passenger business, prompting Joby to raise its full-year revenue guidance to $115 million–$125 million. Blade seats sold increased more than 50% year over year, though aircraft availability is limiting some routes. Spending and losses increased as Joby invests in certification and commercial readiness. The company reported a $245 million GAAP net loss, ended the quarter with approximately $2.3 billion in cash and investments, and expects second-half cash use of $385 million–$415 million while advancing manufacturing, infrastructure and international plans. Archer and Anduril Put ACHR Stock on a New Defense Flight Path Joby Aviation (NYSE:JOBY) said it plans to begin its first flights under the federal electric vertical takeoff and landing integration pilot program, or eIPP, in Texas next month, as the company prepares for commercial passenger operations and expands manufacturing and infrastructure efforts. Founder and Chief Executive Officer JoeBen Bevirt said the Dallas-Fort Worth-area flights are expected to take place over a week and will demonstrate vertical takeoff and landing operations across a major metropolitan market. The flights will initially carry only a pilot, with the company expecting the program to progress to non-paying passengers and eventually paying passengers with Federal Aviation Administration oversight. → Sandisk Just Delivered a Blowout Quarter—Here's Why the Stock Is Falling These Stocks Could Win as Wall Street Looks Beyond AI Software Joby continues to target carrying its first passengers this year, Bevirt said. He described eIPP as a potential accelerator for commercialization and said the company believes operational experience gained through the program could also support its certification effort. Joby reported second-quarter revenue of $39 million, primarily from its Blade passenger business, compared with $25 million in the first quarter. Chief Financial Officer Rodrigo Brumana said Blade’s seasonal summer ramp, favorable weather and demand around major events supported the quarter. → 4 Oil and Gas ETF Plays as Prices Stay Sky-High Vertical Aerospace: Pre-Flight Checks Point to a Breakout Blade’s seats sold increased more than 50% from the prior-year period, marking its strongest second quarter in that measure, according to Bevirt. Blade also recorded its highest number of new passengers traveling to and from New York City airports since 2023. Hamptons revenue grew more than 40% year over year, aided by route expansions, while Blade sold roughly 4,500 seats to or from the Monaco Grand Prix. Joby raised its full-year revenue guidance to $115 million to $125 million, from prior guidance of $105 million to $115 million. The company had recognized $63 million in revenue during the first half of 2026 and said Blade typically experiences its peak period in the third quarter. → No Hangover: Revisiting Microsoft One Week After Earnings Bevirt said aircraft availability, rather than passenger demand, has become the main constraint on several Blade routes. The company is also pursuing demand-generation initiatives through its relationship with Uber and a new Blade partnership with Visa that provides Visa Infinite consumer and business cardholders certain benefits on Blade’s New York airport service. Joby said Blade’s existing helicopter operations illustrate the importance of vertical lift to customers. Bevirt noted that a fixed-wing flight from Teterboro to Montauk can be booked for roughly one-third the cost of a helicopter trip from Manhattan, but the helicopter service has substantially higher utilization because it avoids travel to an airport. Joby ended the second quarter with about $2.3 billion in cash equivalents and short-term investments. Cash use totaled approximately $202 million in the quarter, compared with $195 million in the first quarter, which included the net cash impact of acquiring an Ohio facility. Excluding the Ohio investment, first-half cash use was $365 million, within the company’s previously stated guidance range of $340 million to $370 million. Property and equipment investment was $29 million in the second quarter, down from $78 million in the first quarter. First-half capital expenditures totaled $107 million, including $62 million related to Ohio and $15 million for expanded flight-test capabilities in Hollister, California. Total operating expenses rose to $300 million from $258 million in the first quarter. Brumana attributed the increase primarily to $23 million of investment in certification, manufacturing ramp-up and commercial readiness; $11 million of costs associated with higher revenue; and $8 million in other expenses. On a GAAP basis, Joby reported a net loss of $245 million, compared with a $110 million loss in the first quarter. The company said most of the increase resulted from a $108 million non-cash unfavorable change in the fair value of warrants and earn-out shares, which Brumana said is driven largely by changes in Joby’s share price. Adjusted EBITDA loss was $197 million, compared with a $179 million loss in the prior quarter. For the second half of 2026, Joby expects cash use of $385 million to $415 million, primarily for certification, manufacturing, eIPP operations and commercialization. Brumana said the higher spending level reflects deliberate investment in commercial readiness, while the company intends to stage portions of spending based on progress against milestones. Joby said five electric air taxis are now flying, including its first FAA-conforming aircraft, while 12 additional aircraft are in various production stages. Two aircraft are expected to be completed this year. Bevirt said the company reduced its manufacturing non-conformance rate by nearly 40% during the first six months of 2026 as it moved from research-and-development builds toward low-rate production. The company also formed a joint venture with Toyota intended to support high-volume commercial production. Brumana said Toyota’s previously announced $250 million direct investment in Joby is still expected to close late this year or early next year, subject to final supply agreements. He said the funds would go directly to Joby. On infrastructure, Joby announced a strategic partnership with Atoms, an industrial artificial intelligence infrastructure company founded by Uber co-founder Travis Kalanick. Executive Chairman Paul Sciarra said the arrangement is a co-investment vehicle in which both parties will contribute capital. He said Atoms brings financing relationships and capabilities in site identification, development and operations, potentially reducing Joby’s share of the work for future vertiport sites. The initial infrastructure focus will be Florida, New York, Texas and California. Bevirt also cited progress in Dubai, where the second of four vertiports being built by partners is nearing completion. Joby signed a multiyear definitive agreement with Virgin Atlantic during the Farnborough Airshow, outlining a potential path to service in the United Kingdom, with a focus on London and Manchester. In response to questions on defense opportunities, Sciarra said Joby has worked on hybrid vertical-lift aircraft for nearly two years and has demonstrated improved range and capability on aircraft in flight. He identified potential Department of Defense applications including strike, intelligence, surveillance and reconnaissance, and passenger-carrying infiltration and exfiltration missions. Joby also said it will work with ASI, which the FAA recently selected to provide central software infrastructure for managing traffic across the U.S. National Airspace System. Sciarra said Joby plans to trial ASI’s tools using Blade and Joby operations to assess whether they can increase flight frequency at key locations. Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company's core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby's eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas. The company's flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Joby Aviation Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Joby Aviation Inc., which has long-term plans to make electric flying taxis in Dayton and Vandalia, reported stronger quarterly performance, saying its Blade helicopter service business generated $36.2 million in the second quarter of 2026. Still, the company saw a net loss of $245 million. Joby says its electric aircraft is in the fifth and final stage of Federal Aviation Administration certification, with five aircraft flying and a dozen more in production. How Joby is building its air taxi company in Dayton with workers who are ‘production heroes’ Joby reported strong Blade performance, generating $36.2 million for the quarter, contributing to a stronger full year 2026 full company revenue outlook between $115 million and $125 million. Joby acquired Blade Air Mobility's passenger business for $125 million in August 2025. The acquisition has proven to be an important one for the company. “The number of seats sold this quarter was up more than 50% year-over-year, representing the best Q2 on record and helping us raise our full-year revenue outlook for the company,” JoeBen Bevirt, Joby’s founder and chief executive, said in a shareholder letter released Wednesday, Aug. 5, after the close of markets. Blade flew more than 50,000 passengers in 2024 via helicopter from a network of 12 urban terminals As of the end of June, Joby said it had $2.3 billion in cash and short-term investments. In all for the second quarter, Joby reported revenue of $38.6 million. The company said its net loss of $245.4 million primarily reflected a net operating loss of $260.9 million and other income of $15.6 million. However, the net loss fell by $79.2 million compared with the second quarter of 2025, driven by a $172.3 million improvement in other income, Joby said. In Dayton, Joby makes propeller blades for its electric aircraft at a former postal sorting facility on Dayton International Airport property. The company also bought a large Stonequarry Crossings Industrial Park building early in 2026 for $62 million, with plans to bring wider aircraft production to Vandalia. In its shareholder letter, Joby reiterated that the company has invested $32 million into its Dayton facility in the first quarter. “Our current outlook incorporates continued investment toward certification of our eVTOL (electric vertical takeoff and landing) aircraft, expansion of our manufacturing scale, and advancing our commercialization efforts including participation in the U.S. eVTOL Integration Pilot Program,” Joby said Wednesday. Joby aircraft take off and land like helicopters, cruise like planes and even glide if necessary. They have been eyed for a variety of uses — mostly the quiet ferrying of business passengers to airports. The Air Force has also explored how the craft might be used for its purposes. Shares of Joby (NYSE: JOBY) closed down at $7.80 Wednesday, a fall of 17 cents. The stock was trending up in pre-market trading Thursday, Aug. 6.

Joby Aviation, Inc. JOBY reported a second-quarter 2026 loss of 25 cents per share, wider than the Zacks Consensus Estimate of a loss of 23 cents. In the year-ago quarter, JOBY reported a loss of 41 cents. However, the results had a positive impact on the market, as the stock gained 5.5% since its earnings release on Aug. 5. Quarterly revenues were $38.6 million, surpassing the Zacks Consensus Estimate of $29 million. Revenues increased from $15,000 in the prior-year period, with Blade contributing $36.2 million in the reported quarter amid seasonal demand and strong passenger activity. Joby Aviation, Inc. price-consensus-eps-surprise-chart | Joby Aviation, Inc. Quote In the June-end quarter, total operating expenses increased 78.4% year over year to $299.52 million. Research and development expenses rose 42.7% to $194.66 million, while selling, general and administrative expenses climbed 143.2% to $76.56 million as Joby invested in certification, manufacturing and commercial readiness and supported Blade’s growth. Adjusted EBITDA in second-quarter 2026 was a loss of approximately $197 million compared with a loss of about $179 million in the first quarter. Management attributed the sequential change to the quarter's revenues and expense dynamics. JOBY exited the second quarter with cash and cash equivalents of $629.86 million and total cash, cash equivalents and short-term investments of $2.26 billion. As of June 30, 2026, long-term debt totaled $701.87 million. The company raised its full-year 2026 revenue outlook to $115-$125 million from $105-$115 million, citing Blade's continued strength. For the second half of 2026, Joby expects to use between $385 million and $415 million of cash, cash equivalents and short-term investments. On the operating front, Joby expects its first flights under the White House-backed eIPP program in Texas in September and aims to carry its first passengers in 2026. The company said five aircraft are flying and another 12 are in production, while it recorded its strongest quarterly progress yet in the fifth and final stage of FAA type certification. Currently, JOBY has a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Westinghouse Air Brake Technologies WAB, operating as Wabtec Corporation, reported encouraging second-quarter 2026 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate and increased year over year. Quarterly adjusted earnings of $2.76 per share beat the Zacks Consensus Estimate of $2.63 by 4.9% and increased 21.6% year over year, owing to higher sales and operating margin expansion. Revenues climbed 17.5% to $3.18 billion and surpassed the consensus mark of $3.08 billion by 3.2%. United Airlines Holdings, Inc. UAL reported second-quarter 2026 adjusted earnings of $1.99 per share, down 48.6% year over year but above the Zacks Consensus Estimate of $1.92 by 3.7%. Operating revenues rose 16% to $17.67 billion and were essentially in line with the $17.68 billion consensus mark. A 12.1% increase in total revenues per available seat mile or TRASM, and broad-based gains across premium, loyalty and cargo revenues, supported the top line despite sharply higher fuel costs. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Joby Aviation, Inc. (JOBY) : Free Stock Analysis Report United Airlines Holdings Inc (UAL) : Free Stock Analysis Report Wabtec (WAB) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Company Raises 2026 Revenue Guidance SANTA CRUZ, Calif., August 05, 2026--(BUSINESS WIRE)--Joby Aviation, Inc. (NYSE:JOBY), a company developing electric air taxis for commercial passenger service, today issued its Second Quarter 2026 Shareholder Letter detailing the company’s operational and financial results for the quarter ending June 30, 2026. The company will host a live audio webcast of its conference call to discuss the results at 2:00 p.m. PT (5:00 p.m. ET) today. Highlights include: First eIPP flights are expected in September in Texas, targeting first passengers in 2026. Strongest quarterly progress yet in fifth and final stage of FAA Type Certification. Five aircraft flying and 12 more in production, as the manufacturing ramp continues. Joint venture with Toyota lays groundwork for strategic manufacturing alliance and high-volume production. Strong Blade performance, generating $36.2 million in Q2 revenue, contributing to increased full year 2026 total revenue outlook between $115 million and $125 million. Strategic partnership with Atoms, the Industrial AI and infrastructure company founded by Travis Kalanick, to develop multimodal transportation hubs across U.S. launch markets. $2.3B in cash and short-term investments as of June 30, 2026. Commenting on Joby’s second quarter results, JoeBen Bevirt, founder and CEO, said: "With meaningful progress on certification, partnerships, infrastructure and commercial readiness, we are unlocking the third dimension of mobility and turning electric vertical flight from an extraordinary technology into an everyday reality, giving people their time back and fundamentally changing the way we move." Outlook Joby’s current outlook incorporates continued investment in certification of its eVTOL aircraft, expansion of manufacturing scale, and advancing commercialization efforts including participation in the White House-backed eIPP program. The company increased its full year 2026 total revenue outlook to a range of $115 million to $125 million. For the second half of 2026, Joby anticipates use of cash, cash equivalents and short-term investments to be between $385 million and $415 million. Second Quarter 2026 Financial Results Webcast Details:What: Joby Aviation Second Quarter 2026 Financial Results WebcastWhen: Wednesday, August 5, 2026Time: 2:00 p.m. PT (5:00 p.m. ET)Webcast: Upcoming Events section of the company website. If unable to attend the webcast, to listen by phone, please dial 1-877-407-9719 or 1-201-378-4906. A replay of the webcast will be available on the company website following the event. About Joby Joby Aviation, Inc. (NYSE:JOBY) is a California-based transportation company developing an all-electric, vertical take-off and landing air taxi. Joby intends to both operate its fast, quiet, and convenient air taxi service in cities around the world and sell its aircraft to other operators and partners. To learn more, visit www.jobyaviation.com. Forward Looking Statements This release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the development and performance of our aircraft and the growth of our manufacturing capabilities, including plans to deliver two additional aircraft in 2026; our regulatory outlook, progress and timing, including our target of carrying our first passengers in 2026; our business plan, objectives, goals, market opportunity and expected demand for our aircraft and services; plans for, and potential benefits of, our strategic partnerships, including our partnership with Atoms to develop air taxi hubs; expected opportunities under the eIPP, including locations and timing of eIPP flights; and our current expectations relating to our business, financial condition, results of operations, prospects, capital needs and growth of our operations, including our use of cash and revenue guidance for 2026. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as "anticipate", "estimate", "expect", "project", "plan", "intend", "believe", "may", "will", "should", "can have", "likely" and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including: our ability to launch our air taxi service and the growth of the urban air mobility market generally; our ability to produce aircraft that meet our performance expectations in the volumes and on the timelines that we project; the need to negotiate additional definitive agreements and secure permits and other required approvals to achieve the full expected value of our partnerships; the competitive environment in which we operate; our future capital needs; our ability to adequately protect and enforce our intellectual property rights; our ability to effectively respond to evolving regulations and standards relating to our aircraft; uncertainty around timing of proposed enhancements to the air traffic control system; our reliance on third-party suppliers and service partners; uncertainties related to our estimates of the size of the market for our service and future revenue opportunities; and other important factors discussed in the section titled "Risk Factors" in our Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the "SEC") on February 27, 2026, and in future filings and other reports we file with or furnish to the SEC. Any such forward-looking statements represent management’s estimates and beliefs as of the date of this release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change. View source version on businesswire.com: https://www.businesswire.com/news/home/20260805604111/en/ Contacts Media: Christine [email protected] Investors: [email protected]

Joby Aviation (NYSE:JOBY) is slated to report second-quarter earnings after the bell on Aug. 5, 2026. And, boy oh boy, is the timing tense. So far in 2026, Joby stock has plummeted about 50%. Investors, while mostly bullish on electric vertical takeoff and landing (eVTOL) stocks in 2025, have seemingly lost interest. Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue » Part of that is because Joby’s fundamental challenge hasn’t changed: It still needs FAA type certification before it can scale its eVTOL business. The financial consequence of that delayed commercialization will probably show up again in its second-quarter results, with Wall Street expecting a loss of roughly $0.21 per share. Anyone who has invested in Joby is probably aware of the company’s cash-burning problems. What could send the stock plummeting after the bell on Aug. 5, however, would be related to FAA type certification progress, or lack thereof. If Joby’s progress appears stalled -- or its pace appears decelerated -- the money-losing eVTOL start-up could be in for a difficult second-half of 2026. Image source: The Motley Fool. Joby is flying into its second-quarter earnings with a market cap of about $7 billion despite lacking an FAA-certified eVTOL and generating little revenue from its core business. Announcement-wise, Joby’s second quarter has seemed pretty solid. In late April, Joby flew an eVTOL from JFK airport to heliports in Manhattan in under 10 minutes, completing the first-ever point-to-point eVTOL flight in the Big Apple. In June, Joby and its long-term manufacturing partner, Toyota, (NYSE:TM) announced a formal joint effort called the Joby Toyota Aero Manufacturing Preparation Company (JTAMPC), aimed at scaling production of Joby’s S4 electric taxis. Finally, in July, Joby finalized a definitive agreement with Virgin Atlantic to bring Joby’s air-taxi services to the United Kingdom. Under the agreement, Virgin Atlantic users will be able to book Joby air taxis through the airline’s mobile app and website, adding another big name to Joby’s commercial partnership list, which includes Delta (NYSE:DAL) and Uber (NYSE:UBER). This has all been great. But none of it answers the question that matters most for its valuation right now: When will Joby break the regulatory dam holding back its highly anticipated commercial launch? Is the company moving quickly enough through the FAA type certification process, and, if so, when should investors expect eVTOL commercialization? Anything short of specific, concrete language around FAA testing -- not vague, evasive wording -- could be read as a disappointment, especially since none of the company’s biggest second-quarter announcements moved the needle on Joby stock. It’s worth noting that Joby reported an earnings beat in Q1 that led to a roughly 21% one-day surge. Shares of Joby were trading at roughly $10.50 the day after reporting first-quarter earnings on May 5, and that winning streak continued until they rose north of $12 at the end of May, after which shares began to slide. The stock currently trades at about $7.50. Given what investors know going into second-quarter earnings, a meaningful certification or commercialization milestone would be the reason for a surge on the same level as last quarter’s. Without one, however, Joby’s second-quarter report could send the stock into another tailspin. Before you buy stock in Joby Aviation, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Joby Aviation wasn’t one of them. The 10 stocks that made the cut are built for long-term growth and could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $386,727!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,232,139!* That performance is why people listen. With a track record of beating the S&P 500 by 4x, Stock Advisor offers a distinct advantage. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built for the long haul. See the 10 stocks » *Stock Advisor returns as of August 3, 2026. Steven Porrello has positions in Joby Aviation. The Motley Fool has positions in and recommends Uber Technologies. The Motley Fool recommends Delta Air Lines. The Motley Fool has a disclosure policy. Joby Aviation's Next Earnings Report on Aug. 5 Could Send the Stock Plummeting. Here's Why. was originally published by The Motley Fool