Joby Aviation Inc. (NYSE:JOBY) stock climbed Thursday after the company reported better-than-expected third-quarter revenue, raised its full-year revenue forecast and expanded its military contracts.
The electric aircraft maker reported its third-quarter results after Wednesday’s closing bell.
Joby posted a quarterly loss of 22 cents per share, matching Wall Street’s estimate. Revenue reached $55.09 million, beating analysts’ estimate of $39.22 million.
Joby Advances FAA Certification And Military Contracts
Joby reported progress toward Federal Aviation Administration certification, completing several tests under the fifth and final stage of the process.
CEO JoeBen Bevirt said the company increased aircraft production while improving manufacturing efficiency.
Joby also demonstrated its electric air taxi in early U.S. markets through the White House-backed eIPP program.
Meanwhile, its J208 aircraft completed what Joby believes was the first fully autonomous cross-country flight by a civilian aircraft in the U.S.
The company also expanded its autonomy-focused contracts with the U.S. Air Force to nearly $37 million.
Joby Raises 2026 Revenue Forecast
Joby raised its full-year 2026 revenue forecast to between $135 million and $140 million.
The company also expects to use between $385 million and $415 million in cash, cash equivalents and short-term investments during the second half of 2026.
Technical Analysis
Joby shares traded at $5.29, about 7.8% above their 20-day simple moving average (SMA) of $4.91. However, the stock remained 8.6% below its 50-day SMA of $5.79 and well below its 200-day SMA of $8.47.
The stock remains in a longer-term downtrend. A death cross formed in February when the 50-day moving average fell below the 200-day average.
Holding above $4.91 could support the recent recovery. However, the stock must reclaim $5.79 to signal stronger momentum.
Key support stands at $4.50, near the 52-week low of $4.43.
JOBY Price Action: Joby Aviation shares were up 7.72% at $5.44 during premarket trading on Thursday, according to Benzinga Pro data.
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