Joby Aviation Reports First Quarter 2022 Financial Results

Rhea-AI Summary

Joby Aviation (NYSE: JOBY), based in California, reported financial results for Q1 2022, as it develops all-electric aircraft for commercial passenger service. The company aims to launch its air taxi service in 2024, featuring aircraft capable of traveling 150 miles at speeds up to 200 mph. Joby continues to expand its workforce, now exceeding 1,000 employees across multiple locations. For further details, a live conference call will occur on May 12, 2022, at 2:00 p.m. PT.

Positive

• Joby Aviation's workforce has grown to over 1,000 employees, indicating strong development capacity.
• The company plans to launch its air taxi service in 2024, showcasing its forward-looking growth strategy.

Negative

• Joby faces significant challenges in launching its aerial ridesharing service by 2024, amidst uncertain market conditions.
• The company relies on third-party suppliers, which may impact its production timelines and aircraft performance.

SANTA CRUZ, Calif.--(BUSINESS WIRE)-- Joby Aviation (NYSE: JOBY), a California-based company developing all-electric aircraft for commercial passenger service, today announced its financial results for first quarter 2022. Please visit the Joby investor relations website https://ir.jobyaviation.com/ to view the first quarter 2022 shareholder letter. Today the company will host a live audio webcast of its conference call to discuss the results at 2:00 p.m. PT (5:00 p.m. ET).

Additional Call Details:

What: Joby First Quarter 2022 Earnings Conference Call

When: Thursday, May 12, 2022

Time: 2:00 p.m. PT (5:00 p.m. ET)

Webcast: Upcoming Events section of the company website (www.jobyaviation.com)

Live Call: 1-877-407-3982 or 1-201-493-6780

A replay of the call will be available until midnight, Thursday, May 26, 2022, by dialing 1-844-512-2921 or 1-412-317-6671 and entering passcode 13728914.

About Joby Aviation

Joby Aviation, Inc. (NYSE:JOBY) is a California-based transportation company developing an all-electric vertical take-off and landing aircraft which it intends to operate as part of a fast, quiet, and convenient air taxi service beginning in 2024. The aircraft, which has a maximum range of 150 miles on a single charge, can transport a pilot and four passengers at speeds of up to 200 mph. It is designed to help reduce urban congestion and accelerate the shift to sustainable modes of transit. Founded in 2009, Joby employs more than 1,000 people, with offices in Santa Cruz, San Carlos, and Marina, California, as well as Washington, D.C. and Munich, Germany. To learn more, visit www.jobyaviation.com.

Forward Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the development and performance of Joby’s aircraft and its regulatory outlook, progress and timing. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “will”, “should”, “can have”, “likely” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially including: Joby’s ability to launch its aerial ridesharing service and the growth of the urban air mobility market generally; Joby’s ability to produce aircraft that meet its performance expectations in the volumes and on the timelines that it projects, Joby’s ability to launch a commercial passenger service beginning in 2024, as currently projected; the competitive environment in which it operates; its future capital needs; its ability to adequately protect and enforce its intellectual property rights; its ability to effectively respond to evolving regulations and standards relating to its aircraft; its reliance on a third-party suppliers and service partners; uncertainties related to Joby’s estimates of the size of the market for its service and future revenue opportunities; and other important factors discussed in the section titled “Risk Factors” in its Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the “SEC”) on March 28, 2022, and in other reports it files with or furnishes to the SEC. Any such forward-looking statements represent management’s estimates and beliefs as of the date of this press release. While Joby may elect to update such forward-looking statements at some point in the future, it disclaims any obligation to do so, even if subsequent events cause its views to change.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220512005786/en/

Investors:

investors@jobyaviation.com

+1-831-201-6006

Media:

press@jobyaviation.com

Source: Joby Aviation

FAQ

What are Joby Aviation's financial results for Q1 2022?

Joby Aviation reported its Q1 2022 financial results, details of which can be found on their investor relations website.

When will Joby Aviation launch its air taxi service?

Joby Aviation aims to launch its air taxi service in 2024.

What is Joby Aviation's stock symbol?

Joby Aviation trades under the stock symbol 'JOBY' on the NYSE.

How fast can Joby Aviation's aircraft travel?

Joby Aviation's aircraft can fly at speeds up to 200 mph.

What is the range of Joby Aviation's aircraft?

The aircraft developed by Joby Aviation has a maximum range of 150 miles on a single charge.