Joby Aviation
ð§ ZombieTrust Size
$1.0B
Peak Price
$16.81
Current Price
$5.50
Return
-45.0%
Peak Market Cap
$8.0B
What Happened
Electric air taxi company backed by Toyota and the US Air Force. Promised flying taxis by 2024 but still hasnt carried a single paying passenger. Pre-revenue company valued at $6.6B.
Joby Aviation merged with Reinvent Technology Partners in August 2021 at a $6.6B valuation. The company is developing electric vertical takeoff and landing (eVTOL) aircraft â essentially flying taxis. Toyota invested $394M, and the US Air Force awarded a contract. But FAA certification has taken far longer than promised. Originally targeting commercial service by 2024, the company is now targeting 2025-2026 at earliest. It has zero revenue and burns $100M+ per quarter. Joby is one of two major eVTOL SPACs alongside Archer Aviation.
Projections vs. Reality
Projected Revenue
$2.0B
What they told investors
Actual Revenue
$0
What actually happened
Key People
JoeBen Bevirt
CEO & Founder
Long-time inventor, controls company
Reid Hoffman
SPAC Sponsor
LinkedIn co-founder via Reinvent Technology
Timeline
2021-02
SPAC merger announced
2021-08
Merger completed at $6.6B valuation
2022-06
Stock falls below $5
2024-01
Misses 2024 commercial launch target
2025-01
Still pre-revenue, FAA certification pending
ð SEC Filings
View all EDGAR filings for Joby Aviation
Risk Scores
Dilution Score
60/100
Insider Profit Index
52/100