Joby Aviation, Inc. (JOBY) Stock Price & How to Invest

Joby Aviation designs and intends to manufacture and operate electric vertical takeoff and landing (eVTOL) aircraft, small piloted air taxis built to carry a few passengers quietly over congested cities. Its plan is to make money as a vertically integrated transportation-as-a-service business: build its own aircraft (with manufacturing practices borrowed from partner and investor Toyota), then sell rides directly to passengers, distributed through partners like Uber and the Blade passenger business it acquired. Until its own aircraft enters revenue service, nearly all reported revenue comes from that acquired Blade helicopter operation rather than from eVTOL flights.

The company was founded in 2009 as Joby Aero by serial entrepreneur and engineer JoeBen Bevirt, who had earlier built Velocity11 (sold to Agilent) and the consumer-products maker behind the Gorillapod, and who still serves as chief executive. Joby went public via SPAC in 2021 and has since assembled a roster of strategic backers including Toyota (manufacturing and capital), Delta Air Lines (a launch and distribution partner, including warrant exercises), and Uber (after Joby absorbed Uber's Elevate air-taxi unit). It is targeting first commercial passenger service in 2026, with planned rollouts in U.S. markets such as New York, Texas, and Florida, and an international launch with Uber in Dubai.

Joby is effectively pre-revenue on its core product: the bulk of its reported revenue comes from the acquired Blade helicopter business, not its own eVTOL aircraft, and it posted a net loss of roughly $110 million in Q1 2026. It guided to using $340 to $370 million of cash in the first half of 2026 alone, and reaching profitability is years away and not assured. Certification could slip, raising the chance of further dilutive equity or convertible raises, and the entire thesis depends on an air-taxi market that does not yet exist at scale. The stock is highly speculative and can move sharply on certification, funding, or partnership news.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Joby Aviation, Inc.'s investor relations page or your broker.

• Cash & short-term investments: ~$2.5 billion (Q1 2026)
• Revenue (Q1 2026): ~$24 million (mostly acquired Blade passenger business, not eVTOL)
• FY2026 revenue guidance: ~$105 to $115 million
• Net loss (Q1 2026): ~$110 million
• Cash use guidance (H1 2026): ~$340 to $370 million
• Market capitalization: ~$9 billion (April 2026)

For a pre-commercial company, the most important figures are cash and burn rather than earnings: roughly $2.5 billion of liquidity against a few hundred million of cash use per half-year implies several years of runway, but no clear path to profitability yet. The reported revenue largely reflects the acquired Blade helicopter operation, not Joby's own air taxis, so traditional valuation multiples are not very meaningful. At a market cap near $9 billion against minimal core revenue, the stock prices in a commercial future that still depends on FAA certification and scale.

These are the investment theses JOBY naturally fits into. Each links to a full theme guide listing every other stock that belongs and the ETFs commonly used as a passive proxy.

Other names that show up alongside JOBY in the same themes. Worth a look if you're thinking about diversification within a single thesis rather than concentration on one ticker.

There are three common ways to get JOBY exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so JOBY sits alongside other stocks that express the same thesis.

Walnut takes the basket route. Describe a thesis where JOBY fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

Right now JOBY is a pre-commercial eVTOL developer whose main driver is its lead in FAA type certification (Stage 4 complete, the Stage 5 type certificate the last gate) backed by roughly $2.5 billion in cash and short-term investments as of Q1 2026. Nearly all of its reported revenue today comes from the acquired Blade passenger-helicopter business, not its own air taxis. If you believe urban air mobility becomes a real market and Joby's vertically integrated, Toyota-built, Uber-distributed model wins it, the question becomes sizing and overlap with the rest of your portfolio, not timing; the risk is that certification slips, cash burn forces dilutive raises, or the air-taxi economics never reach the scale the valuation implies.

Whether JOBY is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is JOBY a buy?, and where the stock could go from here in the JOBY stock forecast.

For income investors, whether JOBY pays a dividend and how the payout looks is covered in does JOBY pay a dividend? And to weigh JOBY against a peer, read the full side-by-side comparisons: JOBY vs AVAV.