Joby Aviation: A Compelling Opportunity, But Patience Is Required
FAA Certification appears set to push into late 2027 or early 2028, delaying Joby Aviation's commercial ramp. The Resonant Sciences acquisition adds defense exposure but complicates JOBY's strategic focus and does not directly align with its core eVTOL business. Joby's $2.3 billion cash balance provides a substantial runway, but ongoing cash burn and an uncertain commercialization timeline remain risks.