Joby Aviation (JOBY) Stock Forecast & Price Target

Joby Aviation Inc. has significantly strengthened its cash position, increasing its cash balance by over $200 million quarter-over-quarter despite a $135 million burn, providing operational stability for nearly two years at current burn rates. The company holds approximately $933 million in cash and equivalents, reflecting the strongest liquidity position in the eVTOL industry, which includes a notable investment from Toyota that brings total liquidity to approximately $1.4 billion. Joby Aviation remains well-positioned for long-term growth with ongoing developments in urban air mobility and a commitment to achieving FAA Type Certification, bolstering its competitive stance both in the commercial market and the defense sector.

Joby Aviation Inc. faces a substantial financial headwind, as the company reported a net loss of approximately $608 million for FY24, indicating significant financial strain. The anticipated EBITDA loss of approximately $456.7 million and an adjustment to capex estimates down to $47 million for FY25 and $65 million for FY26 reflect a concerning trend of escalating costs and reduced capital investment expectations. Moreover, the lack of long-term guidance and uncertainty surrounding the monetization potential of its eVTOL aircraft heighten the risk that Joby may struggle to achieve sustainable profitability in the near term.