Joby Issues “Q1 Shareholder Report, Announces Second Consecutive Quarter of Record Certification Progress, Appoints CFO”

Joby Avi­a­tion recent­ly released its Q1 2025 Share­hold­er Let­ter detail­ing the company’s oper­a­tional and finan­cial results for the peri­od end­ing March 31st, 2025, reports Busi­ness Wire.

Joby also announced the appoint­ment of Rodri­go Bru­mana as Chief Finan­cial Offi­cer (CFO), effec­tive from May 29th. Bru­mana is an expe­ri­enced Sil­i­con Val­ley CFO, over­see­ing glob­al finance oper­a­tions at HP, Ama­zon, eBay and, most recent­ly, Posh­mark. Ear­li­er in his career, he worked in man­u­fac­tur­ing at Fairchild Semi­con­duc­tor and Palm.

Share­hold­er Let­ter

https://d1io3yog0oux5.cloudfront.net/_4e39dc3cf3e3899feafa27aec04db94b/jobyaviation/db/1111/9856/file/2025Q1-Report+(1).pdf

Q1 High­lights include:-

: Record Cer­ti­fi­ca­tion Progress - Joby made record progress on the cer­ti­fi­ca­tion of its air­craft for a sec­ond quar­ter in a row, rein­forc­ing the company’s lead­er­ship posi­tion in the eVTOL sec­tor.

: Pilot-on-Board Tran­si­tion Flights — Joby became the first elec­tric air taxi com­pa­ny to move to rou­tine tran­si­tion flights with a pilot onboard the eVTOL, mark­ing a crit­i­cal step towards start­ing FAA flight test­ing.

: Part­ner­ship with Vir­gin Atlantic — the air­craft devel­op­er formed a part­ner­ship with Vir­gin Atlantic to launch air taxi ser­vices in the UK, start­ing with their hubs at Lon­don Heathrow and Man­ches­ter.

: Strong Bal­ance Sheet — Joby end­ed the quar­ter with USD813 mil­lion in cash and short-term invest­ments, not includ­ing the addi­tion­al USD500 mil­lion finan­cial com­mit­ment from Toy­ota.

: Fifth Air­craft from Pilot Pro­duc­tion Line — the fifth air­craft to be pro­duced on Joby’s Pilot Pro­duc­tion Line in Mari­na, Cal­i­for­nia has been pow­ered on for the first time.

: Expand­ed Man­u­fac­tur­ing Facil­i­ty - the com­pa­ny expand­ed its man­u­fac­tur­ing facil­i­ty, which more than dou­bles the exist­ing Mari­na foot­print and is near­ing com­ple­tion, set to be hand­ed over next month.

Finan­cial Results Web­cast (Audio)

https://event.choruscall.com/mediaframe/webcast.html?webcastid=6s41pFeF

JoeBen Bevirt, Founder and CEO of Joby, com­ment­ed, “I’m con­fi­dent the excel­lent progress we have made this quar­ter – the progress on cer­ti­fi­ca­tion, the demon­strat­ed flight hours and tran­si­tion flights, and rolling yet anoth­er air­craft off our pro­duc­tion line — places Joby firm­ly in an eVTOL lead­er­ship posi­tion.”

He con­tin­ued, “This quarter’s move to rou­tine inhab­it­ed tran­si­tion flight was a key moment on that jour­ney, mark­ing a crit­i­cal unlock toward begin­ning Total­ly Inte­grat­ed Automa­tion (TIA) flights with the FAA.”

Rodri­go Bru­mana

Bevirt added, “We’re excit­ed to wel­come Rodri­go back to his roots in hard­ware. We were impressed by his strong track record of dri­ving growth at glob­al com­pa­nies and his focus on effi­cient oper­a­tions. I’m con­fi­dent his prag­mat­ic and tac­ti­cal approach will serve Joby well as we scale our man­u­fac­tur­ing and pre­pare for com­mer­cial oper­a­tions.”

Joby end­ed the first quar­ter of 2025 with USD813 mil­lion in cash, cash equiv­a­lents and invest­ments in mar­ketable secu­ri­ties. This bal­ance does not include the expect­ed Toy­ota invest­ments totalling USD500 mil­lion, to be made in two equal tranch­es of USD250 mil­lion. The par­ties have finalised the agree­ments nec­es­sary to close the first tranche of the invest­ment from Toy­ota, which is expect­ed to be reflect­ed in the company’s Q2 cash bal­ance.

For more infor­ma­tion

www.jobyaviation.com

(Top image: Joby’s eVTOL)

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