Two of Joby’s battery-electric production prototype aircraft in Marina, California, with the company’s hydrogen-electric technology demonstrator in flight above. Joby Aviation Photo
SANTA CRUZ, Calif.--(BUSINESS WIRE)-- Joby Aviation, Inc. (NYSE:JOBY), a next-generation aviation company, today announced it has rolled its third production prototype aircraft off the company’s pilot production line in Marina, CA, with four aircraft expected to be in active flight test during the next quarter. The news came as the company issued its Second Quarter 2024 Shareholder Letter, detailing the Company’s operational and financial results for the period ending June 30, 2024. 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.
Second Quarter 2024 Highlights:
- Production Ramp-Up. We expect to have four aircraft in active flight test during the next quarter, with the second production prototype now in flight test and the third having rolled off the production line.
- Certification Progress. The fourth of five stages of type certification is now 37% complete on the Joby side, with numerous test plans submitted and accepted during the quarter. We expect progress in the fourth stage to accelerate in the remainder of 2024.
- International Expansion. We applied for certification in Australia and signed a memorandum of understanding with Mukamalah, a wholly owned subsidiary of Saudi Aramco and operator of the world’s largest fleet of corporate aircraft, to introduce our aircraft to the Kingdom of Saudi Arabia via direct sales.
- Future Technologies. We flew a first-of-its-kind, hydrogen-electric air taxi demonstrator 561 miles and acquired the autonomy division of Xwing, an industry leader in the development of autonomous technology for aviation.
- Strong Financial Foundation. We maintained a strong balance sheet with $825 million in cash and short-term investments at the end of the second quarter.
Second Quarter Financial Results Webcast Details:
What: Joby Second Quarter 2024 Financial Results Webcast
When: Wednesday, August 7, 2024
Time: 2:00 PM PT (5:00 PM ET)
Webcast: Upcoming Events (https://ir.jobyaviation.com/news-events/ir-calendar) section of the company website (www.jobyaviation.com).
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 which it intends to operate as part of a fast, quiet, and convenient service in cities around the world. To learn more, visit www.jobyaviation.com.
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