News · · 5 min read
Joby reports for-credit testing in stage five and a higher 2026 revenue outlook
Joby said on November 4, 2026 that it had completed a wide range of "for credit" testing in stage five of FAA type certification. The release does not say stage five is finished, and it does not say a type certificate has been issued. Joby says 17 aircraft are in production, reports third-quarter revenue of $55 million, mostly from Blade, and $2.2 billion in cash and short-term investments at September 30. It raises the 2026 revenue outlook to $135 million to $140 million. A Resonant Sciences acquisition is described as planned, with closing conditions still named.
Joby Aviation said on November 4, 2026 that it had issued its third-quarter 2026 shareholder letter for the quarter ending September 30, 2026. The release is datelined Santa Cruz, California. It says a webcast was set for 2:00 p.m. Pacific time that day. This page uses the release. It did not open a shareholder-letter PDF or an earnings-call transcript.
Joby says a wide range of "for credit" testing was completed as part of the fifth and final stage of FAA type certification. Chief executive JoeBen Bevirt's quoted remarks say the company made progress on that stage, "completing a wide range of 'for credit' testing with the FAA." The release does not give a new percentage for stage five. It does not say stage five is finished. It does not say a type certificate has been issued. The last stage percentages this site has from Joby remain the ones in the Q2 2026 shareholder letter, as of July 31, 2026: stage 4 at 83 percent on the company's side and 77 percent accepted by the FAA, and stage 5 at 20 percent and 10 percent. Joby said then that those percentages can fluctuate. The November 4 release does not replace them.
Aircraft in production, Blade revenue, and cash
Joby says manufacturing output increased, with 17 aircraft now in production. "In production" is the release's phrase. The release does not say 17 aircraft have been finished, delivered or certificated.
Joby says the third quarter was a record for Blade, which it says flew 44,000-plus passengers, and that third-quarter 2026 revenue was $55 million, primarily from Blade. Blade is Joby's existing passenger service. The $55 million figure is not described as air-taxi revenue from the S4. The release's highlights do not state a net loss, an operating loss or a gross margin. This page does not fill those in.
Joby says it held $2.2 billion in cash, cash equivalents and short-term investments as of September 30, 2026. For the second half of 2026, it says it anticipates use of cash, cash equivalents and short-term investments of between $385 million and $415 million. That range is an anticipation in the outlook section. It is not a report of cash already spent in the fourth quarter.
The outlook is a range, and the acquisition is planned
Joby says it increased its full-year 2026 total revenue outlook by 15 percent, to a range of $135 million to $140 million. The outlook section says the current outlook includes investment toward certification of the eVTOL aircraft, expansion of manufacturing, and commercial preparations including the U.S. eVTOL Integration Pilot Program. The range is an outlook. It is not a report of full-year revenue already booked.
Joby describes a planned acquisition of Resonant Sciences, which it calls an EBITDA-positive defense technology company with $100 million-plus in trailing twelve-month revenue. The $100 million-plus figure is that revenue description. It is not a purchase price. The release does not state a purchase price. The forward-looking statements refer to "any remaining closing conditions for the acquisition of Resonant Sciences" and to risks of integrating the business. A planned acquisition with closing conditions still named is not a completed acquisition. It is not an aircraft order.
The same highlights repeat flights Joby has already reported: eIPP flights in Texas and Florida, the J208 autonomous crossing, and autonomy-focused U.S. Air Force contracts expanded to about $37 million. Bevirt's quote says "nearly $37 million." The bullet says "~$37 million." The J208 crossing was announced on September 18, 2026. The November 4 release lists it again. This page does not treat that listing as a new flight. The Florida demonstrations and the November 4 Orlando vertipad flight are covered separately. The release's eIPP bullet does not add a new airport.
The photograph
The photograph is the one Joby placed on the results page. Joby's caption says the air taxi "flies over Tampa, Florida, on Oct. 29 during the state's first eIPP flights," and credits the photo to Joby Aviation. The file name on the page is "20261029-Tampa, Florida_EIPP_3.jpg." Registration N545JX is visible. The FAA's October 30 release dates Florida's first eIPP demonstrations to October 30. This page does not merge Joby's October 29 caption with that date. The photograph is not a picture of the November 4 earnings event, and it is not the Orlando vertipad flight.
A later report places one commercial target in 2027
Aviation International News reported on November 11, 2026 that Joby and Archer now point to 2027 for early commercial passenger operations in the United States, and that both had previously targeted the launch of commercial flights in 2025. AIN reports that chief financial officer Rodrigo Brumana placed Joby's "initial launch of commercial operations" under the eIPP in 2027. AIN also reports that Joby's latest SEC quarterly filing still lists a target of carrying its first passengers in 2026. AIN reports that Joby expects FAA pilots to begin training on its aircraft in the first half of 2027. Those years are targets. This page did not open the filing or a transcript. AIN does not say a type certificate has been issued. This page does not use AIN's other figures to replace the November 4 release.
What is not established
No type certificate has been issued. AIN's 2027 commercial-launch sentence is a target it attributes to Brumana. The 2026 passenger target AIN says is still in the quarterly filing is not described as withdrawn. The first-half-of-2027 training expectation is a target. For-credit testing in stage five is Joby's description of work inside the certification program. The release does not say how much of stage five is done, and it does not retire the July 31 percentages. Seventeen aircraft "in production" is not a delivery count. The $55 million is third-quarter revenue, primarily from Blade, and the 44,000-plus passengers are Blade's. The $135 million to $140 million range is a full-year outlook. The $385 million to $415 million cash-use range is an anticipation for the second half of 2026. The Resonant Sciences transaction is a planned acquisition. The release does not state a price, and the forward-looking statements still name closing conditions. This page did not open the shareholder letter or the webcast.
Sources
Facts as reported by the linked sources as of Nov 11, 2026. Company targets are plans, not guarantees. Corrections: see About.