“Joby Announces Delivery of Second Aircraft to USAF, Shareholder Letter Q4 Highlights”

Joby Avi­a­tion announced this week it has deliv­ered a sec­ond air­craft to the USAF at Edwards Air Force Base as part of the company’s work with the U.S Depart­ment of Defense, reports a press release. Joby now has five air­craft in its flight test fleet, includ­ing a hydro­gen-hybrid.

The com­pa­ny has also issued its Q4 and Full Year 2024 Share­hold­er Let­ter detail­ing the company’s oper­a­tional and finan­cial results for the peri­od end­ing Decem­ber 31st, 2024. 

https://joby-site.cdn.prismic.io/joby-site/Z75z057c43Q3gO6b_Joby-Aviation_2024-Q4-Shareholder-Letter.pdf

Q4 High­lights also include:-

Record Cer­ti­fi­ca­tion Progress: On the fourth of five stages required to cer­ti­fy the Joby air­craft for com­mer­cial pas­sen­ger use in the U.S. Type Inspec­tion Autho­ri­sa­tion flight test­ing will begin in the next 12 months. 

First Pas­sen­ger Oper­a­tions: The com­pa­ny plans to deliv­er an air­craft to Dubai in the mid­dle of this year to com­plete flight test­ing ahead of car­ry­ing the first pas­sen­gers in late 2025 or ear­ly 2026. 

Robust Bal­ance Sheet: Joby received more than USD1 Bil­lion of addi­tion­al fund­ing and com­mit­ments in the fourth quar­ter. 

Suc­cess­ful demon­stra­tion flights in Korea: The com­pa­ny became the first to fly an elec­tric air taxi as part of Korea’s K‑UAM Grand Chal­lenge.

JoeBen Bevirt, Founder and CEO, com­ment­ed, “Joby is in a great posi­tion to cap­i­talise on the oppor­tu­ni­ties pre­sent­ed by America’s renewed focus on inno­va­tion and man­u­fac­tur­ing. As well as deliv­er­ing record progress on cer­ti­fi­ca­tion, we scaled our man­u­fac­tur­ing, deliv­ered two air­craft to the Depart­ment of Defense and flew 561 miles with a hybrid, hydro­gen-elec­tric vari­ant of our air­craft, bring­ing the flight test fleet to a total of five air­craft.”

He added, “The next 12 months mark a crit­i­cal way towards this new era of flight.” 

JoeBen Bevirt

Joby end­ed Q4 with USD933 mil­lion in cash, cash equiv­a­lents and invest­ments in mar­ketable secu­ri­ties. This bal­ance does not include expect­ed Toy­ota invest­ments totalling USD500 mil­lion, to be made in two equal tranch­es of USD250 mil­lion. All reg­u­la­to­ry approvals are now in place for the first tranche of this invest­ment to be made.

For more infor­ma­tion

https://www.jobyaviation.com

(Top image: Joby deliv­ered a sec­ond elec­tric air taxi to Edwards Air Force Base dur­ing the quar­ter — cred­it: Joby Avi­a­tion)

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