eVTOL Aircraft

product pipeline / R&D affecting expense

“Research and development 419,837 354,771 65,066 18 % Selling, general and administrative 105,497 92,144 13,353 14 % Total operating expenses 535,404 446,960 88,444 20 % Loss from operations (512,815) (446,879) (65,936) 15 % Interest and other income, net 29,420 33,038 (3,618) (11) % Loss on common stock issuance in private placement (40,258) — (40,258) 100 % Gain (loss) from change in fair value of warrants and earnout shares (284,424) 52,683 (337,107) (640) % Total other income (loss), net (295,262) 85,721 (380,983) (444) % Loss before income taxes (808,077) (361,158) (446,919) 124 % Income tax expense 229 599 (370) (62) % Net loss $ (808,306) $ (361,757) (446,549) 123 % Revenue Revenue increased by $22.5 million primarily due to the Blade acquisition, increased revenue from on-base operations for a DOD agency, and increased revenue from providing engineering services to third parties.”

JOBY 10-Q

product pipeline / R&D

“Significant Risks and Uncertainties Management expects losses and negative cash flows to continue for the foreseeable future, primarily as a result of continued research and development efforts.”

JOBY 10-K

tariffs / trade costs affecting expense

“While tariffs have not had a significant impact on our business, financial condition or results of operations to date due to the limited scale of our prototype manufacturing and focus on certification efforts, over time new tariffs or other restrictions imposed in connection with trade wars or political instability could increase the costs of raw materials and other goods, both for us and our suppliers, particularly as we begin to scale our manufacturing operations and produce aircraft for commercial use.”

JOBY 10-Q