On February 21, 2024, Joby Aviation, Inc., a company specializing in the development of all-electric aircraft for commercial passenger service, announced its financial results for the fiscal year ended December 31, 2023. The announcement was made through a Form 8-K filing with the United States Securities and Exchange Commission. The company, headquartered in Santa Cruz, California, reported several key highlights from the fourth quarter of 2023, including the completion of Stage 3 certification plans accepted by the FAA, successful completion of 30 for-credit pathfinder tests, and the establishment of four conforming manufacturing lines. Joby Aviation also conducted the first-ever electric air taxi flight in New York City and signed an exclusive agreement with the government of Dubai for air taxi operations. Financially, the company...Show More

On February 21, 2024, Joby Aviation, Inc., a company specializing in the development of all-electric aircraft for commercial passenger service, announced its financial results for the fiscal year ended December 31, 2023. The announcement was made through a Form 8-K filing with the United States Securities and Exchange Commission. The company, headquartered in Santa Cruz, California, reported several key highlights from the fourth quarter of 2023, including the completion of Stage 3 certification plans accepted by the FAA, successful completion of 30 for-credit pathfinder tests, and the establishment of four conforming manufacturing lines. Joby Aviation also conducted the first-ever electric air taxi flight in New York City and signed an exclusive agreement with the government of Dubai for air taxi operations. Financially, the company ended the quarter with $1.0 billion in cash and short-term investments, with net cash used in operating activities and purchases of property, plant, and equipment totaling $91 million for the quarter and $344 million for the full year. Looking ahead to 2024, Joby Aviation plans to focus on aircraft certification and manufacturing, with an eye towards commercial service launch in 2025. The company estimates its cash usage for 2024 to be between $440 and $470 million. The financial results and operational updates were also shared in a press release and a shareholder letter, both attached as exhibits to the SEC filing.