NYSE: JOBY
Key Data Points
The company received the FAA Part 141 certificate in 2024 for its Joby Aviation Academy, allowing it to build out a cohort of qualified pilots before commercial operations officially commence. Joby Aviation is also working with regulators around the globe, including in the United Kingdom, United Arab Emirates, Japan, and South Korea, as it seeks to commercialize its air taxi operations internationally.
Joby Aviation already has notable partnerships in place with commercial as well as government entities for its air taxi services, including Delta Air Lines (DAL -3.72%), Toyota Motor Corporation (TM +0.77%), Uber Technologies (UBER -0.88%), the U.S. Department of Defense, and the aviation subsidiary of Saudi Aramco. Joby Aviation began initial service operations with the U.S. Department of Defense in September 2023 and is hoping to launch commercial passenger operations in 2026.
Joby Aviation went public in August 2021 after completing a reverse merger with a special purpose acquisition company (SPAC). While it's been a turbulent ride for investors since that initial public offering (IPO), you might be wondering how to invest in Joby Aviation stock, whether the company generates revenue or profits, and more.
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How to buy Joby Aviation stock
Because Joby Aviation is publicly traded, you can buy shares like you would any other U.S.-listed stock. Here's what you need to know to buy Joby Aviation stock.
- Open your brokerage account: Log in to your brokerage account where you handle your investments.
- Search for the stock: Enter the ticker or company name into the search bar to bring up the stock's trading page.
- Decide how many shares to buy: Consider your investment goals and how much of your portfolio you want to allocate to this stock.
- Select order type: Choose between a market order to buy at the current price or a limit order to specify the maximum price you're willing to pay.
- Submit your order: Confirm the details and submit your buy order.
- Review your purchase: Check your portfolio to ensure your order was filled as expected and adjust your investment strategy accordingly.
Should I invest in Joby Aviation?
As a company that is barely out of the pre-revenue stage and still needs to secure authorization from the FAA and other regulatory agencies, risk-averse investors might be less inclined to buy shares of Joby Aviation. However, if you're an investor with a healthy risk tolerance and an interest in buying into an up-and-coming air taxi company that already has established partnerships with commercial and government enterprises, Joby Aviation might be worth at least a modest investment.
A quick history of Joby Aviation
Joby Aviation got its first big break back in 2012 when it was selected to collaborate with NASA on numerous electric flight projects. These included the X-57 and LEAPTech programs. In 2020, Joby became the first eVTOL company to receive airworthiness approval from the U.S. Air Force.
That same year, Joby expanded its partnership with key investor Uber. It acquired Elevate, the flying car division of the ridesharing giant, and agreed to integrate its aerial ridesharing service into the Uber app across all U.S. launch markets.
In 2022, Joby signed a multiyear, multicity partnership with Delta Air Lines to deliver home-to-airport air taxi services. In June 2023, SK Telecom (SKM +0.75%), South Korea's top telecommunications conglomerate, invested $100 million in Joby.
Toyota has also invested about $400 million in Joby Aviation so far. In September 2023, Joby Aviation made its first delivery to the Air Force as part of its $131 million contract to deliver and operate aircraft for the Department of Defense. Joby's only current operations are for the Department of Defense, although it hopes to launch commercial passenger operations in 2026. This means that the company reports barely any revenue, and operating losses are considerable. By June 2025, Joby reported revenue from flight services of $15,000, compared to a net total loss of about $324.7 million.
As Joby scales out its operations, the company does not plan to sell its aircraft to individual customers or independent third parties as its core business model. Its future business model will instead rely on manufacturing, operating, and owning its aircraft so it can build a vertically integrated transportation company that will deliver these services directly to customers. These services could range from commercial entities to government agencies.
Joby operates its own engineering, manufacturing, and flight test facilities in California. By controlling all stages of its production and distribution process, Joby Aviation hopes to maximize revenue potential down the line and build a network of eVTOL aircraft that powers its own in-house aerial ride-sharing service. The company is working on creating a Joby Aviation app so that consumers can book rides directly, in addition to bookings made with third parties through existing partnerships with companies like Delta and Uber.
Is Joby Aviation profitable?
Joby Aviation is still in the early stages of developing and testing aircraft for commercialization. The company is generating hardly any revenue at this point, so any potential profits will be on a very distant horizon, more likely than not in the 2030s. However, the company had about $1.2 billion in total assets on its balance sheet at the end of the second quarter of 2025.
Does Joby Aviation pay a dividend?
Joby Aviation does not pay a dividend, and management has not signaled any plans to pay one. Since it's a company that is just getting out of its pre-revenue stage and is not yet profitable, investors should not expect dividends anytime soon.
ETFs with exposure to Joby Aviation
If you’d like to invest in Joby Aviation stock without purchasing individual shares, you can do so by investing in an exchange-traded fund (ETF) that holds shares of the company. A few examples include:
Exchange-Traded Fund (ETF)
Will Joby Aviation stock split?
Joby Aviation went public via a reverse merger with a SPAC in 2021. Shares have historically traded at or below $10. There are no plans to split the stock anytime soon.
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The bottom line on Joby Aviation
While it started limited operations for the U.S. Department of Defense in late 2023, Joby Aviation is not yet transporting commercial passengers and is working to achieve full FAA certification for its aerial taxis. The company is reporting hardly any revenue and is hemorrhaging losses, although both of these realities are to be expected for a company at this stage of its growth story.
With those risks being considered, Joby Aviation could disrupt the emerging aerial taxi industry. Its partnerships with some of the biggest names in the commercial transportation world and its collaborations with governments around the world could enable it to fulfill its goals of becoming a global powerhouse in the aerial taxi space.
Joby's stock could see significant gains if it can secure authorization from the FAA and other regulatory agencies, achieve successful commercial deployment, and generate revenue from its planned vertically integrated business model. This is a highly speculative play, but long-term investors with a sizable buy-and-hold horizon and some extra cash to spare for a well-diversified portfolio might want to take a second look.
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