Joby Aviation Inc. (NYSE:JOBY) reported its fourth-quarter results after Wednesday's closing bell. Here's a look at the details from the report.
The Details: Joby Aviation reported quarterly losses of 34 cents per share, which missed the analyst consensus estimate for a loss of 20 cents. Quarterly revenue came in at $55,000, which beat the analyst consensus estimate of $45,800 and is a decrease from revenue of $1.03 million in the prior year’s quarter.
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Joby ended the fourth quarter with $933 million in cash, cash equivalents and investments in marketable securities, not including expected Toyota investments totaling $500 million, to be made in two equal tranches of $250 million.
“The sector-leading progress we made throughout 2024 puts Joby in a great position to capitalize on the opportunities presented by America’s renewed focus on innovation and manufacturing,” JoeBen Bevirt, founder and CEO, said.
“As well as delivering record progress on certification, we scaled our manufacturing, delivered two aircraft to the Department of Defense and flew 561 miles with a hybrid, hydrogen-electric variant of our aircraft, bringing the flight test fleet to a total of five aircraft,” Bevirt added.
JOBY Price Action: According to data from Benzinga Pro, Joby Aviation shares are up 3.33% after hours at $6.93 Wednesday.
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Photo: Courtesy of Joby Aviation, Inc.
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