Joby Aviation (JOBY) Q1 FY26 earnings call: guidance and Q&A

How are customer conversations evolving given the visible progress with eIPP and demonstrations, and how quickly might potential orders materialize?

JoeBen highlighted strong demand for service and potential for aircraft sales in international markets, which Paul Sciarra elaborated on, mentioning Saudi Arabia and Japan. They also noted accelerated infrastructure conversations.

“There are so many customers who are really excited about beginning to use our service. I think the next element of that, I think you're referring to is sales of aircraft. And as Paul has talked about a number of times before, that's certainly a lever that we can choose to pull as we desire. There is a huge amount of demand from many international markets.”

asked by Kristine Liwag · answered by JoeBen Bevirt

How will Joby prioritize sequencing initial aircraft for the eIPP program, considering revenue, existing infrastructure, or regulatory factors?

JoeBen stated it's a combination of both infrastructure readiness and revenue opportunity. He emphasized the benefit of bringing quiet aircraft to areas like New York with existing heliports and customer bases, and the rapid deployment of additional infrastructure in other states.

“I think it's both of those elements. It's about infrastructure. And you have some states that are really moving very rapidly at deploying additional infrastructure and that's -- we're thrilled about that. And then there's also opportunities like in New York, where we already have existing infrastructure and an existing customer base and being able to bring the acoustic signature, the really remarkable acoustic signature of our aircraft to places that are currently quite impacted by helicopter noise, we think, is a massive opportunity.”

asked by James Kirby · answered by JoeBen Bevirt

How does Joby envision the eIPP program starting and ramping up over its 3-year duration, specifically regarding simultaneous project launches or aircraft deployment?

JoeBen expects agreements to be signed in Q3, with operations starting in the back half of the year for both eVTOL and autonomous platforms. He reiterated aggressive manufacturing ramp-up to field as many aircraft as possible into eIPP markets, aiming to build out fleets in New York, Florida, and Texas.

“I think our -- the best crystal ball we've got at the moment is that we'll be signing or that agreements will start being signed in Q3. And that as we move into the back half of the year, we'll start to do operations. I would expect operations both for our eVTOL aircraft as well as for our autonomous platforms.”

asked by Andres Sheppard-Slinger · answered by JoeBen Bevirt

When does Joby expect to start full credit testing of the conforming aircraft, and what are the prerequisites?

JoeBen explained three parallel workstreams: component/parts testing, Joby pilots flying the conforming aircraft for test points, and FAA pilots getting trained in the simulator. He emphasized the monumental effort of building the aircraft with FAA involvement.

“So really, you can think of 3 parallel work streams. One is the components and parts getting tested. Two is Joby pilots flying the conforming aircraft and doing all the test points in advance of the FAA pilots doing them. And then third is the FAA pilots getting trained in the simulator.”

asked by Savanthi Syth · answered by JoeBen Bevirt

Are there any potential bottlenecks in manufacturing, raw materials, production, or pilot readiness that Joby foresees for the eIPP program, and how are they being addressed?

JoeBen acknowledged the importance of addressing supply chain, manufacturing ramp, and pilot training. He highlighted early investment in a flight simulator (in partnership with CAE) for pilot training and the focus on quality in manufacturing.

“We are working very hard on all 3 elements that you mentioned: one, supply chain; two, ramping manufacturing; and three, we made a very early investment in our flight simulator and having that installed now and preparing that for beginning to train the FAA pilots is really speaks to the Joby team and the incredible foresight.”

asked by Chris Pierce · answered by JoeBen Bevirt

What is the status of production activity in Ohio, and are there plans to add shifts there?

JoeBen reported good progress in Ohio, currently manufacturing propeller blades and adding more components. He mentioned the build-out of the larger 730,000 sq ft facility across the street for future production processes, indicating two parallel workstreams.

“The ramp of the team in Ohio is going really, really well. As a reminder, folks, we're doing propeller blade manufacturing there. And we're really pleased with the bring up of that facility. That was the first facility that we purchased in Ohio. We're adding additional components and systems that we're starting to build in that first facility.”

asked by Austin Moeller · answered by JoeBen Bevirt

Given earlier expectations for passenger flights in the Middle East and the current situation there, will initial passenger flights likely take place in the U.S. instead?

JoeBen stated that Joby now has "two shots on goal" for passenger flights this year, in both Dubai and the eIPP markets in the U.S., making it "very strong that we'll see passenger flights later this year."

“So it is very exciting for us to now have 2 shots on goal for passenger flights this year, both in Dubai and as well as in our different eIPP markets. And so I think that's looking very strong that we'll see passenger flights later this year.”

asked by Amit Dayal · answered by JoeBen Bevirt