Joby Aviation (JOBY) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Joby Aviation published the results on November 4, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison.

• Joby acquired Blade's passenger business on August 29, 2025, so Q3 2025 includes only about one month of Blade passenger revenue and Q3 2026 includes a full quarter.
• Joby has one reportable segment. The passenger and other split comes from the revenue note in its Form 10-Q, not from the results release.

Source: Joby Aviation Q3 2026 shareholder letter, November 4, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Joby Aviation splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Joby Aviation's Passenger revenue was $53.2 million in Q3 2026, up 290% from $13.7 million in Q3 2025, 97% of total revenue.
• Joby Aviation's Other revenue was $1.9 million in Q3 2026, down 79% from $8.9 million in Q3 2025, 3% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Joby Aviation said:

“The company increased its full year 2026 total revenue outlook to a range of $135 million to $140 million.”

“For the second half of 2026, Joby anticipates use of cash, cash equivalents and short-term investments to be between $385 million and $415 million.”

Source: Joby Aviation Q3 2026 release, Nov 4, 2026.

This is the company's own guidance as of Nov 4, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the JOBY forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenue and net loss per share, basic and diluted, each as first reported in that quarter's shareholder letter. Joby does not report an adjusted EPS figure.

We do not hold a confirmed date for Joby Aviation's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 4, 2026

Joby Aviation does not yet earn money from its own electric air taxi. Its Q3 2026 revenue of $55.1 million came almost entirely from Blade, the air charter broker it bought on August 29, 2025: passenger revenue was $53.2 million and other revenue, mainly government flight services, engineering services and rental income, was $1.9 million. (Joby Aviation Form 10-Q, Q3 2026, Nov 5, 2026)

Joby says revenue rose by $32.5 million from $22.6 million a year earlier mainly because Q3 2026 included a full quarter of Blade passenger revenue, against about one month in Q3 2025. Lower government flight services revenue from DOD agencies partly offset that. Other revenue fell to $1.9 million from $8.9 million. (Joby Aviation Form 10-Q, Q3 2026, Nov 5, 2026)

Blade flew more than 44,000 passengers in the quarter, the most in any quarter in its history, according to Joby's shareholder letter. Joby credits the New York airport service, where passenger numbers rose 61% from a year earlier. The 10-Q notes that Blade demand is seasonal, generally higher in the second and third quarters than in the first and fourth. (Joby Aviation Q3 2026 shareholder letter, Nov 4, 2026; Joby Aviation Form 10-Q, Q3 2026, Nov 5, 2026)

By geography, $37.5 million of Joby's Q3 2026 revenue was earned in the United States, $16.7 million in Europe and $0.8 million elsewhere. Blade's services are concentrated in the Northeast United States and Southern Europe. (Joby Aviation Form 10-Q, Q3 2026, Nov 5, 2026)

Joby is building a defense business alongside the air taxi. The U.S. Air Force expanded its contracts for Joby's autonomous flight technology from $20 million to nearly $37 million in October 2026, and on August 8, 2026 Joby agreed to buy Resonant Sciences for a base price of $500.0 million, a deal it expects to close in early 2027. (Joby Aviation Form 10-Q, Q3 2026, Nov 5, 2026; Joby Aviation Q3 2026 shareholder letter, Nov 4, 2026)

Joby Aviation lost $211.8 million in Q3 2026, or $0.22 per share, against $401.2 million, or $0.48 per share, a year earlier. The operating loss widened to $278.1 million from $181.7 million as research and development rose to $208.6 million and selling, general and administrative costs to $85.6 million. Other income of $66.5 million, including a $49.8 million non-cash gain from revaluing warrants, earnout shares and contingent consideration, narrowed the net loss. In Q3 2025 the same line was a $229.1 million loss. (Joby Aviation Q3 2026 shareholder letter, Nov 4, 2026)

Joby reports no adjusted EPS. Its non-GAAP measure is Adjusted EBITDA, a loss of $207.9 million in the quarter against $132.8 million a year earlier, which excludes stock-based compensation of $54.7 million, depreciation and amortization of $12.1 million, interest income, the warrant and earnout revaluation and $3.5 million of acquisition transaction costs. (Joby Aviation Q3 2026 shareholder letter, Nov 4, 2026)

Weighted-average shares rose to 978,533,969 from 844,551,006. From August 11 to September 30, 2026, Joby sold 20,174,525 shares under its at-the-market program for net proceeds of $128.2 million. The $690.0 million of 0.75% convertible notes due 2032 that Joby issued on February 2, 2026 were left out of diluted shares because including them would have reduced the loss per share. (Joby Aviation Q3 2026 shareholder letter, Nov 4, 2026; Joby Aviation Form 10-Q, Q3 2026, Nov 5, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Joby Aviation raised its full-year 2026 revenue outlook to $135 million to $140 million, from $115 million to $125 million, and credited strong Blade performance. It kept its forecast that cash, cash equivalents and short-term investments used in the second half of 2026 will be $385 million to $415 million. It used $195 million in Q3 2026. (Joby Aviation Q3 2026 release, Nov 4, 2026; Joby Aviation Q3 2026 shareholder letter, Nov 4, 2026)

Joby's revenue through the first nine months of 2026 was $118.0 million, so the raised range implies fourth-quarter revenue of about $17 million to $22 million, in Blade's seasonally slower quarter. (Joby Aviation Form 10-Q, Q3 2026, Nov 5, 2026; Joby Aviation Q3 2026 release, Nov 4, 2026)

A consensus figure is the average of the models published by the analysts who cover Joby Aviation, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Joby Aviation's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning JOBY is on is JOBY a buy or a sell?, what analysts expect next is on the JOBY forecast, and what the company does is on the Joby Aviation (JOBY) stock page.

Every number on this page can be traced to a document Joby Aviation published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.