Joby confirms strong Q2 ’25 cash position, certification progress, Japan expansion

Joby Aviation presented its Q2 2025 financial results in an earnings call held on August 6, 2025, ending a period of several days in which it announced a string of achievements in its path to market. 

While the company is not yet generating any revenue, the latest financial filings show a solid liquidity position, with nearly $1 billion in cash and cash equivalents.  

The financial resources at hand will enable Joby to sustain momentum as it heads towards the latest stages of certification. Joby confirmed Stage 4 (of 5) of its eVTOL aircraft certification process is well advanced, with more than 50% complete on the Federal Aviation Administration (FAA) side and 70% on the company’s side. 

Joby also disclosed that the first conforming aircraft intended for Type Inspection Authorization (TIA) flight testing is being assembled at the company’s production facility in Marina, California. This aircraft, which will take to the skies before the end of 2025, will be used by FAA evaluators during the last stage of the certification process. 

Just days before holding the Q2 earnings call with investors, Joby also made a number of relevant announcements. On August 4, 2025, it announced the acquisition of helicopter operator Blade, a leader in urban air mobility, for $125 million. This deal is expected to give Joby a pre-existent operational and customer base from which to start air taxi operations once its eVTOL aircraft is certified. 

Then, on August 5, 2025, the Californian firm also announced the expansion of its partnership with Japanese carrier All Nippon Airways (ANA) to deploy more than 100 aircraft to air taxi operations in Japan. This is also subject to the obtention of aircraft certification.  

Japan has long been a strategic market for Joby, which counts car making giant Toyota as its largest shareholder. Joby reaffirmed its commitment to performing a series of demonstration flights at the Expo 2025 Osaka, between October 1-13, 2025. This appearance at the Expo 2025 Osaka has long been on the cards, but the details have only now been confirmed. 

In July 2025, Joby also announced a partnership with L3 Harris to develop military hybrid-propulsion aircraft based on the startup’s S4 eVTOL aircraft. 

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