Joby Aviation (JOBY) financial statements
Joby Aviation reported revenue of $53M in fiscal 2025, up 619.5% a year over 2 years.
Net income was -$930M.
Free cash flow was -$564M.
The diluted share count rose 695% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Joby Aviation's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | — | $0 | $0 | $1M | $136,000 | $53M |
| Research and development | $109M | $198M | $296M | $367M | $477M | $581M |
| Selling, general and admin | $23M | $62M | $96M | $106M | $120M | $163M |
| Operating income | -$132M | -$259M | -$392M | -$472M | -$597M | -$720M |
| Interest expense | $249,000 | $2M | $118,000 | — | — | — |
| Pre-tax income | -$114M | -$191M | -$258M | -$513M | -$608M | -$929M |
| Income tax | $31,000 | -$11M | $92,000 | $139,000 | $129,000 | $1M |
| Net income | -$114M | -$180M | -$258M | -$513M | -$608M | -$930M |
| EPS (diluted) | -$1.10 | -$0.61 | -$0.44 | -$0.79 | -$0.87 | -$1.13 |
| Diluted shares | 104M | 295M | 586M | 648M | 700M | 826M |
| Operating margin | — | — | — | -45745.5% | -438789.7% | -1346.9% |
| Net margin | — | — | — | -49714.1% | -447083.8% | -1740.5% |
Balance sheet
Fiscal years, from Joby Aviation's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Cash and short-term investments | $446M | $1.3B | $1.1B | $1.0B | $933M | $1.4B |
| Total current assets | $451M | $1.3B | $1.1B | $1.1B | $970M | $1.4B |
| Property, plant and equipment | $34M | $53M | $92M | $103M | $121M | $147M |
| Goodwill | $0 | $11M | $14M | $14M | $14M | $89M |
| Total assets | $497M | $1.5B | $1.3B | $1.3B | $1.2B | $1.8B |
| Total current liabilities | $8M | $14M | $30M | $45M | $48M | $60M |
| Long-term debt | — | — | — | — | — | $0 |
| Total liabilities | $12M | $172M | $128M | $235M | $291M | $385M |
| Shareholders' equity | -$283M | $1.3B | $1.2B | $1.0B | $912M | $1.4B |
| Net debt | -$77M | -$956M | -$146M | -$204M | -$200M | -$241M |
Cash flow
Fiscal years, from Joby Aviation's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$106M | -$196M | -$236M | -$314M | -$436M | -$510M |
| Capital spending | $24M | $32M | $55M | $31M | $41M | $54M |
| Free cash flow | -$130M | -$228M | -$291M | -$344M | -$477M | -$564M |
| Stock-based compensation | $7M | $27M | $69M | $94M | $104M | $128M |
| Free cash flow margin | — | — | — | -33374.8% | -350650.0% | -1055.3% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for JOBY.
Open JOBY in InvestinglyQuestions
What was Joby Aviation's revenue in 2025?
$53M in fiscal 2025, from its 10-K filing.
How much free cash flow does Joby Aviation generate?
-$564M in fiscal 2025 (operating cash flow minus capital spending).
From Joby Aviation's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.