Joby Aviation, Inc. (JOBY) FY2025 10-K Annual Report

Filed: Feb 27, 2026
Industrials
AircraftSEC EDGAR

Joby Aviation, Inc. (JOBY) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 27, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.

Joby Aviation, Inc. FY2025 10-K Analysis

Business Overview

  • Core business: vertically integrated design, manufacture, and operation of all-electric eVTOL air taxis for urban aerial ridesharing
  • New emphasis on aerial ridesharing service launch targeting first passengers in 2026 with proprietary Elevate OS and consumer app development
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Management Discussion & Analysis

  • Revenue $53.4M in 2025 vs $0.1M in 2024, driven by Blade acquisition and DOD services
  • Operating margin negative; operating loss $(719.6)M in 2025 vs $(596.8)M in 2024, loss worsened by 21%
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Risk Factors

  • FAA certification delays due to staffing shortages, government shutdowns, or failure to pass FAA reauthorization impacting commercial launch timing
  • Supply chain risk from reliance on global third-party suppliers for batteries and raw materials amid rising tariffs and trade restrictions since 2025
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Joby Aviation, Inc. FY2025 Key Financial Metrics
XBRL

Revenue

$53M

+39183.1% YoY

Net Income

-$930M

-52.9% YoY

Operating Margin

-1346.9%

+43744279bp YoY

Net Margin

-1740.5%

+44534336bp YoY

ROE

-66.0%

+68bp YoY

Total Assets

$1.8B

+49.2% YoY

EPS (Diluted)

$-1.13

-29.9% YoY

Operating Cash Flow

-$510M

-16.9% YoY

Source: XBRL data from Joby Aviation, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.

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