Joby Aviation has issued its Third Quarter 2024 Shareholder Letter detailing the company’s operational and financial results for the period ending September 30, 2024. 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) today.
Third Quarter 2024 highlights include:
First international demonstration: the company completed a number of exhibition flights at Toyota’s Higashi-Fuji Technical Center in Japan, using the third production prototype aircraft which rolled off the production line less than three months prior.
Test and certification: the company reached a landmark on its journey to type certification with the completion of its first FAA-conforming major sub-assembly, an aircraft tail. The fourth production prototype is nearing completion and will join the flight test programme shortly.
Regulatory progress: Important progress was made with regulators in each of the targeted launch markets, reports Jony. In the USA, Joby welcomed the publication of new operating regulations that lay the groundwork for the launch of commercial operations.
Toyota Investment: Building on nearly seven years of collaboration, Toyota committed to investing an additional USD500 million in Joby, as part of an agreement that includes plans to establish a manufacturing alliance.
Financial foundation: At the end of the third quarter of 2024, the company “maintained a strong balance sheet with USD710 million in cash and short-term investments. This balance does not include the approximately USD222 million raised through a follow-on equity offering completed in October 2024 or the expected Toyota investments totalling USD500 million.”
For more information
https://www.jobyaviation.com/news/joby-reports-third-quarter-2024-results/