The company highlighted that in Q2, Joby’s first production prototype rolled off the line and has begun flight testing. Credit: Joby Aviation.

American aviation company Joby Aviation released its second quarter (Q2) 2023 shareholder letter, which outlined the company’s operational and financial results for the quarter to 30 June 2023 and highlighted strong production.

At the end of Q2, the aviation company reported $1.2bn in cash and short-term investments. The firm reported net losses of $286m, including operating expenses of $116m, and $181m lost to revaluation of liabilities. Its adjusted EBITDA loss stood at $83m.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

According to Joby, a major step was taken on the journey to scaled production with the rollout and subsequent first flight of its production prototype aircraft.

Joby Aviation founder and CEO JoeBen Bevirt said the production of its prototype aircraft will ensure Joby is a leader in the sector: “We’re proud to have launched production in our home state of California.

“I’m incredibly grateful to the Joby team for their commitment to ensuring Joby remains a clear leader in this new sector, and to Toyota for sharing their knowledge and experience with us over many years. Their support has been indispensable in helping us reach this point.”

See Also:

Joby’s eVTOL aircraft is planned to be the first of this type to be delivered to a customer, when it moves to Edwards Air Force Base in early 2024 as part of a contract worth up to $131m.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The FAA’s approval of a Special Airworthiness Certificate is a crucial step toward that goal.

Joby said it has submitted all of its certification plans to the FAA and two-thirds of those plans have already been accepted.

According to a GlobalData report, the eVTOL market has become one of the aviation industry’s most fertile growth areas with over 200 companies working on the technology across the globe.