Equity Profile

JOBY

Joby Aviation, Inc.

IndustrialsPassenger Airlines$7.3B

May5Tue

Post-Earnings Recap

ReportedQ1-2026After Close1:00 AM EDT

Joby Aviation Misses on Revenue, Stock Down 2.03%

Metric	Actual	Expected	Surprise
EPS	$-0.12	N/A	+41.75%
Revenue	—	N/A	—

management commentary, guidance changes, and full analysis available with Pro.

Joby Aviation Misses on Revenue, Stock Down 2.03%

Key Numbers

Metric	Actual	Expected	Surprise
EPS	$-0.12	N/A	+41.75%
Revenue	—	N/A	—

Management Commentary

Tone: Unknown

No transcript is on record, and the analysis is based on numerical results only.

What It Means

Joby Aviation reported a narrower loss per share than expected, which is a positive surprise. However, the lack of revenue figures and guidance may have contributed to the stock's decline of 2.03% following the earnings announcement. Investors may be cautious due to the absence of additional insights from management.

Company Snapshot

Joby Aviation, Inc. is a company in the industrials sector focused on developing electric vertical takeoff and landing (eVTOL) aircraft for passenger transport....

Key Metrics to Watch

Passenger Capacity

This metric indicates the potential market reach and operational scale of Joby's eVTOL aircraft.

Expected to announce capacity plans for future aircraft.

Operational Milestones

Investors will look for updates on testing and certification processes, which are crucial for commercial launch.

Updates on flight tests and regulatory progress.

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

Original Pre-Earnings Preview

Context

Company Snapshot

Joby Aviation, Inc. is a company in the industrials sector focused on developing electric vertical takeoff and landing (eVTOL) aircraft for passenger transport. As the demand for sustainable and innovative transportation solutions grows, Joby aims to revolutionize urban air mobility, making it a significant player in the passenger airline industry.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

38%

Avg EPS Surprise

-33.06%

Avg Stock Reaction

-0.41%

Last Quarter Recap

In Q4 2025, Joby reported an earnings per share (EPS) of -$0.14, which was better than the expected -$0.20, showing a positive surprise. However, revenue details were not disclosed, leaving investors with limited insight into overall performance.

Management Promises & Guidance

Commitment to advancing eVTOL technology.
Focus on regulatory approvals and safety certifications.
Plans to expand partnerships within the aviation sector.

Expectations

Wall Street Expectations

Wall Street is cautiously optimistic about Joby's upcoming earnings, particularly regarding operational updates and progress towards commercial launch. The lack of analyst estimates adds uncertainty to the expectations.

Bull Case

If Joby provides strong updates on operational milestones and partnerships, it could signal readiness for market entry, boosting investor confidence.

Bear Case

Conversely, if the company fails to meet operational targets or delays in regulatory approvals are announced, it could lead to significant investor disappointment.

Key Metrics to Watch

Passenger Capacity

Expected to announce capacity plans for future aircraft.

This metric indicates the potential market reach and operational scale of Joby's eVTOL aircraft.

Operational Milestones

Updates on flight tests and regulatory progress.

Investors will look for updates on testing and certification processes, which are crucial for commercial launch.

Partnerships

Any new partnerships or collaborations to be discussed.

Strategic partnerships can enhance market entry and operational capabilities, impacting growth prospects.

Expectations

Two Questions That Matter

The print will turn on these two things.

What specific operational milestones can Joby report regarding its eVTOL aircraft development?

This information will be crucial for investors to gauge the company's readiness for commercial launch and regulatory approval.

Are there any new partnerships or collaborations that Joby can announce?

Strategic partnerships could significantly impact Joby's market entry strategy and operational capabilities.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for Joby to secure partnerships that could accelerate its market entry, despite regulatory hurdles.

Supporting Evidence

Joby's recent operational updates suggest a more advanced stage of development than previously anticipated.

The options market is pricing in a significant move, indicating that traders expect more volatility than the current consensus reflects.

Key Risk

If Joby announces a major partnership or operational milestone, it could shift the narrative significantly.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core thesis revolves around Joby's ability to demonstrate progress in its eVTOL development and readiness for market entry.

Bull Confirmed If

Announcing successful flight tests and securing regulatory approvals would confirm the bull case.

Bear Confirmed If

Delays in operational milestones or negative updates on regulatory progress would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±11.12%

Historical Avg

±2.1%

Pricing rich

The options market is pricing in a larger-than-average move, suggesting that traders expect significant volatility around the earnings announcement.

Options are pricing ±10.2% while JOBY has averaged ±2.1% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

1.2%

30d HV

52.9%

Calls (2.1M)P/C Ratio: 0.51Puts (1.1M)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Joby beats expectations with strong operational updates, history suggests a potential average move of +1.0%, confirming bullish sentiment.

In-Line / Cautious

A cautious but in-line report may lead to muted reactions as investors digest management's commentary on future plans.

Miss

If Joby misses expectations, history suggests a potential average move of +0.31%, indicating a bearish sentiment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on flight testing and certification processes.
2Details on any new partnerships or collaborations.
3Insights into operational capacity and future aircraft plans.
4Management's commentary on regulatory challenges and timelines.
5Any changes to the company's strategic vision or market approach.

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Company Snapshot

Joby Aviation, Inc. is a company in the industrials sector focused on developing electric vertical takeoff and landing (eVTOL) aircraft for passenger transport....

Key Metrics to Watch

Passenger Capacity

This metric indicates the potential market reach and operational scale of Joby's eVTOL aircraft.

Expected to announce capacity plans for future aircraft.

Operational Milestones

Investors will look for updates on testing and certification processes, which are crucial for commercial launch.

Updates on flight tests and regulatory progress.

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

Original Pre-Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

38%

Avg EPS Surprise

-33.06%

Avg Stock Reaction

-0.41%

Last Quarter Recap

Management Promises & Guidance

Commitment to advancing eVTOL technology.
Focus on regulatory approvals and safety certifications.
Plans to expand partnerships within the aviation sector.

Expectations

Wall Street Expectations

Bull Case

If Joby provides strong updates on operational milestones and partnerships, it could signal readiness for market entry, boosting investor confidence.

Bear Case

Conversely, if the company fails to meet operational targets or delays in regulatory approvals are announced, it could lead to significant investor disappointment.

Key Metrics to Watch

Passenger Capacity

Expected to announce capacity plans for future aircraft.

This metric indicates the potential market reach and operational scale of Joby's eVTOL aircraft.

Operational Milestones

Updates on flight tests and regulatory progress.

Investors will look for updates on testing and certification processes, which are crucial for commercial launch.

Partnerships

Any new partnerships or collaborations to be discussed.

Strategic partnerships can enhance market entry and operational capabilities, impacting growth prospects.

Expectations

Two Questions That Matter

The print will turn on these two things.

What specific operational milestones can Joby report regarding its eVTOL aircraft development?

This information will be crucial for investors to gauge the company's readiness for commercial launch and regulatory approval.

Are there any new partnerships or collaborations that Joby can announce?

Strategic partnerships could significantly impact Joby's market entry strategy and operational capabilities.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for Joby to secure partnerships that could accelerate its market entry, despite regulatory hurdles.

Supporting Evidence

Joby's recent operational updates suggest a more advanced stage of development than previously anticipated.

The options market is pricing in a significant move, indicating that traders expect more volatility than the current consensus reflects.

Key Risk

If Joby announces a major partnership or operational milestone, it could shift the narrative significantly.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core thesis revolves around Joby's ability to demonstrate progress in its eVTOL development and readiness for market entry.

Bull Confirmed If

Announcing successful flight tests and securing regulatory approvals would confirm the bull case.

Bear Confirmed If

Delays in operational milestones or negative updates on regulatory progress would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±11.12%

Historical Avg

±2.1%

Pricing rich

The options market is pricing in a larger-than-average move, suggesting that traders expect significant volatility around the earnings announcement.

Options are pricing ±10.2% while JOBY has averaged ±2.1% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

1.2%

30d HV

52.9%

Calls (2.1M)P/C Ratio: 0.51Puts (1.1M)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Joby beats expectations with strong operational updates, history suggests a potential average move of +1.0%, confirming bullish sentiment.

In-Line / Cautious

A cautious but in-line report may lead to muted reactions as investors digest management's commentary on future plans.

Miss

If Joby misses expectations, history suggests a potential average move of +0.31%, indicating a bearish sentiment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on flight testing and certification processes.
2Details on any new partnerships or collaborations.
3Insights into operational capacity and future aircraft plans.
4Management's commentary on regulatory challenges and timelines.
5Any changes to the company's strategic vision or market approach.