Cathie Wood's Latest Buy, Joby Aviation, Has 'Far More Demand for Aircraft' Than It Can Build, Says CEO JoeBen Bevirt — Q3 Earnings to Test Production Ramp

Joby Aviation Inc. (NYSE:JOBY) says demand for its electric aircraft is outpacing its current production capacity, putting the spotlight on its manufacturing ramp as the air-taxi developer prepares to report third-quarter results Wednesday.

The stock has fallen more than 60% this year, leaving investors looking for evidence that the company can turn growing demand into aircraft deliveries and commercial revenue.

‘Far More Demand’ Than Supply

On the company’s second-quarter earnings call in August, CEO JoeBen Bevirt said the company has “far more demand for aircraft” than it has production.

CFO Rodrigo Brumana said early launch markets Texas, Florida and New York alone “could absorb the whole production for quite some time.”

To meet it, Joby had five aircraft flying and 12 in production, up four in the quarter. It targets at least two more aircraft off the line in the second half and said it is “hoping to over-deliver.”

Cathie Wood-led Ark Invest bought shares in Joby over four straight sessions last month through its ARK Autonomous Technology & Robotics ETF (BATS:ARKQ) and ARK Space & Defense Innovation ETF (BATS:ARKX), worth nearly $11 million.

What Analysts Expect in Q3

Analysts expect a loss of 25 cents a share on $39.9 million in revenue, according to Benzinga Pro data. For the fourth quarter, they expect a loss of 26 cents on revenue of $19.9 million.

In Q2, Joby posted a loss of 25 cents a share, wider than the 23-cent loss estimate, while revenue came in at $38.64 million, ahead of the $29.07 million estimate.

The company then raised its full-year 2026 revenue outlook to between $115 million and $125 million.

For the second half, Joby expects to use $385 million to $415 million in cash, cash equivalents, and short-term investments.

Share Performance in 2026

The stock is down 66.26% so far this year and has lost 70.28% over the past year.

Price Action: On Monday, shares closed 0.83% higher at $4.85 and were up 0.21% to $4.86 in premarket trading on Wednesday.

Benzinga Edge rankings indicate Joby’s stock has a Momentum score in the 2nd percentile with negative price trends across the short, medium, and long term.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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