It has been about a month since the last earnings report for Joby Aviation, Inc. (JOBY). Shares have added about 8.7% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Joby Aviation, Inc. due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
JOBY Incurs Loss in Q1
Joby Aviation reported a first-quarter 2026 loss of 21 cents per share (on an adjusted basis), which matched the Zacks Consensus Estimate. In the year-ago reported quarter, JOBY incurred loss of 18 cents.
Quarterly revenues came in at $24.24 million, beating the Zacks Consensus Estimate of $19 million.
In the March-end quarter, total operating expenses increased 57.9% year over year due to higher research and development (up 32.2%) and selling, general, and administrative (up 112.2%) costs.
Adjusted EBITDA in the first quarter of 2026 was a loss of $178.54 million, which includes employee costs and support associated with the development, certification and manufacturing of the aircraft and operations of Blade.
JOBY exited the first quarter with cash and cash equivalents of $874.52 million compared with $240.81 million at the end of prior quarter. Long-term debt was $701.05 million at the end of the reported quarter.
Full year 2026 total revenues is expected in the range of $105 million to $115 million.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a downward trend in fresh estimates.
VGM Scores
Currently, Joby Aviation, Inc. has a poor Growth Score of F, however its Momentum Score is doing a bit better with a D. Charting a somewhat similar path, the stock has a grade of F on the value side, putting it in the lowest quintile for value investors.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Joby Aviation, Inc. has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Joby Aviation, Inc. belongs to the Zacks Aerospace - Defense industry. Another stock from the same industry, L3Harris (LHX), has gained 0.4% over the past month. More than a month has passed since the company reported results for the quarter ended March 2026.
L3Harris reported revenues of $5.74 billion in the last reported quarter, representing a year-over-year change of +11.9%. EPS of $2.72 for the same period compares with $2.41 a year ago.
For the current quarter, L3Harris is expected to post earnings of $2.79 per share, indicating a change of +0.4% from the year-ago quarter. The Zacks Consensus Estimate has changed +1% over the last 30 days.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for L3Harris. Also, the stock has a VGM Score of C.
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This article originally published on Zacks Investment Research (zacks.com).