Joby Aviation has reported ending the first quarter of 2026 with $2.5 billion in cash, cash equivalents and short-term investments.
The California-based electric air taxi developer reported first-quarter revenue of $24.25 million and maintained its full-year 2026 revenue guidance of between $105 million and $115 million.
The cash position marks an increase from the $1.4 billion Joby reported at the end of 2025, strengthening the company’s runway as it advances certification, manufacturing expansion and planned commercial launches.
“We close it out with a very strong balance sheet and the clearest path we’ve ever had to beginning passenger operations,” said Founder and CEO JoeBen Bevirt.
During the quarter, Joby completed two certification milestones within the fifth and final stage of FAA type certification. Its first FAA-conforming aircraft flew for the first time while the company also completed its SR3 audit, the third of four major FAA regulatory reviews required in the process.
The company has also expanded its manufacturing footprint in Ohio to approximately 1.5 million square feet and begun producing its first conforming propeller blades.
Alongside the financial results, Joby highlighted progress from its “2026 Electric Skies Tour”, including New York City’s first-ever point-to-point eVTOL flights.
Joby’s aircraft flew routes between JFK International Airport and three Manhattan heliports: Downtown Skyport, West 30th Street and East 34th Street. Joby said journeys between Lower Manhattan, Midtown and JFK took less than 10 minutes.
Downtown Skyport, operated by vertiport developer Skyports Infrastructure, received five Joby landings between 23 April and 1 May and served as the company’s primary Manhattan base for aircraft operations and charging. The site is currently the only commercial vertical aviation facility in Manhattan capable of supporting eVTOL charging operations.
Skyports said permanent rapid charging infrastructure at the facility remains on track to become operational by 2027.
“With plans already well underway for fitting permanent rapid charging, we’re making strong progress in enabling the facility for permanent, commercial eVTOL operations,” said Addison Ferrell, Skyports’ Director of Infrastructure.
Joby was also recently selected as a partner in multiple winning state applications under the White House-backed eVTOL Integration Pilot Program covering New York, New Jersey, Texas, Florida and Utah. The programme is intended to create a pathway for limited early operations ahead of full FAA type certification.