A month has gone by since the last earnings report for Joby Aviation, Inc. (JOBY). Shares have lost about 17.2% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Joby Aviation, Inc. due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its latest earnings report in order to get a better handle on the important catalysts.
JOBY Q4 Loss Met Estimates
Joby Aviation, Inc. reported a fourth-quarter 2025 loss of 20 cents per share (on an adjusted basis), which matched the Zacks Consensus Estimate. In the year-ago reported quarter, JOBY incurred a loss of 19 cents.
Quarterly revenues came in at $30.83 million, beating the Zacks Consensus Estimate of $17.7 million. In the December-end quarter, total operating expenses increased 58.4% year over year due to higher research and development (up 31.8%) and selling, general, and administrative (up 107.4%) costs.
Adjusted EBITDA in the fourth quarter of 2025 was a loss of $154.1 million, which includes employee costs and support associated with the development, certification and manufacturing of the aircraft and operations of Blade.
JOBY exited the fourth quarter with cash and cash equivalents of $240.81 million compared with $208.36 million at the end of the prior quarter.
Full-year 2026 total revenues are expected to be in the range of $105 million to $115 million. The Zacks Consensus Estimate is currently pegged at $113.1 million.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a downward trend in estimates review.
VGM Scores
At this time, 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 was allocated a grade of F on the value side, putting it in the fifth quintile for this investment strategy.
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 this revision indicates a downward shift. Interestingly, Joby Aviation, Inc. has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
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Joby Aviation, Inc. (JOBY): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).