Joby Aviation Raises 2026 Revenue Outlook 15% to $135–140 Million After Record Blade Quarter
Why It MattersJoby's results show an eVTOL developer funding its certification push through passenger-carrying revenue and defense contracts, with the FAA's final certification stage and the pace of aircraft production now setting the timeline.
What happened
Joby Aviation, Inc. (NYSE: JOBY) issued its Third Quarter 2026 Shareholder Letter for the quarter ended September 30, 2026. Revenue for the quarter was $55 million, primarily from Blade, which had a record quarter and flew more than 44,000 passengers. The company raised its full-year 2026 total revenue outlook by 15%, to a range of $135 million to $140 million.
On cash, Joby expects to use between $385 million and $415 million of cash, cash equivalents and short-term investments in the second half of 2026. It held $2.2 billion in cash, cash equivalents and short-term investments as of September 30, 2026.
On certification, Joby completed a wide range of "for credit" testing with the FAA as part of the fifth and final stage of type certification. The company also completed first flights in Texas and Florida under the White House-backed eVTOL Integration Pilot Program (eIPP), including flights over Tampa, Florida, on October 29. Manufacturing output increased significantly, with 17 aircraft now in production.
In autonomy and defense, Joby's J208 autonomous aircraft completed what the company describes as the first fully autonomous flight of a civilian aircraft across the United States. Its autonomy-focused contracts with the U.S. Air Force were expanded to about $37 million. Joby also plans to acquire Resonant Sciences, an EBITDA-positive defense technology company with more than $100 million in trailing-twelve-month revenue, to expand its defense business; the deal remains subject to closing conditions.
Founder and CEO JoeBen Bevirt said the company is focused on bringing electric vertical flight to passengers around the world. Joby planned to host a conference call and live webcast to discuss the results.
Industry impact & what to watch
Joby's quarter shows how an eVTOL developer is financing the long road to commercial service: revenue comes from Blade's passenger operations rather than from its own aircraft, while defense and autonomy contracts add a second stream. A cash balance of $2.2 billion against a projected second-half burn of $385 million to $415 million is the arithmetic that frames how long that approach can run, and the raised revenue outlook slightly eases the picture without changing the underlying dependence on outside capital and contracts.
The certification and pilot-programme news places the company's regulatory work in the final stage of FAA type certification, with eIPP flights now flown in two states. For the wider segment, that sequence, test credit with the regulator first and operational flying under government-backed programmes alongside it, is the template other developers are likely to be measured against.
The Resonant Sciences acquisition is the item still pending: it is subject to closing conditions, and its completion would add a defense business with more than $100 million in trailing-twelve-month revenue to Joby's own. Further movement on the final stage of type certification, and on the ramp from 17 aircraft in production, would be the next milestones to follow.
