Joby Aviation reports Q1 2026 results after the close on Tuesday, May 5. The stock closed Friday at $9.25, up 0.65% on the day.
Nobody is expecting a profit. This is still a build-phase company, and the market knows it. What investors actually want to know is whether the path to paid air taxi service is still on schedule.
The stock has a wide trading range over the past year — $6.18 to $20.95 — which tells you how divided sentiment is. The average analyst price target sits at $13.25, implying roughly 43% upside from current levels.
FAA certification is the single biggest item on the checklist. Joby has made real progress — it confirmed its first FAA-conforming aircraft was ready to fly, reported an 18-point gain in Stage 4 FAA work, and said aircraft for TIA tests were in the build stage.
At this point in the process, steady progress isn’t enough anymore. Investors want to see signs that certification is getting close to the finish line. Any new updates on advanced testing, regulator engagement, or flight work with FAA pilots will shape how the stock reacts.
Any hint of delays, on the other hand, could reignite concerns about the launch timeline slipping further.
Joby ended Q4 2025 with $1.4 billion in cash and short-term assets. It then raised an additional $1.2 billion, bringing its total cash position to $2.6 billion.
That gives it runway. But it’s burning through it fast. Joby used $157 million in Q4 alone, and guided for $340M–$370M in H1 2026 cash use — not counting a $33 million site purchase in Ohio.
Q1 cash use will be watched closely. If it stays in line with guidance, that should calm some nerves. If it runs over, bears will have something to point to.
The Blade Air Mobility business provides a bit of near-term cover. Joby acquired Blade’s short-flight operations in New York for $125 million in August 2025. Blade had already logged more than 50,000 passengers before the deal closed.
In Q4, Joby posted $31 million in total revenue, with $21 million coming from Blade. For full-year 2026, the company expects $105M–$150M in sales, with Blade making up the bulk of that.
On its last earnings call, Joby said it has “plans to carry first passengers in the UAE this year.” Any update on that timeline — positive or negative — will be closely watched.
Dubai represents more than just a launch market. It’s a signal of whether Joby is shifting from a development company to an operating one. That means investors will be looking for specifics: infrastructure, pilot training, route plans, early deployment details.
On Wall Street, Joby carries a Hold consensus from eight analysts — two Buys, four Holds, two Sells.
The Q1 report won’t answer every question. But it should tell investors whether execution is keeping pace with the story.
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