Joby Aviation, Inc. (JOBY): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Imagine un futuro donde el transporte urbano desafía la gravedad, donde los aviones de despegue y aterrizaje vertical eléctrico (EVTOL) transforman cómo navegamos en bulliciosos paisajes urbanos. Joby Aviation, Inc. está a la vanguardia de esta revolucionaria transformación de movilidad, combinando tecnología de propulsión eléctrica de vanguardia con ingeniería aeroespacial visionaria para reinventar el transporte personal y comercial. Su innovador lienzo de modelo de negocio revela una hoja de ruta estratégica que podría alterar los paradigmas de transporte tradicionales, ofreciendo una visión de un ecosistema de movilidad sostenible, eficiente y tecnológicamente avanzado que promete remodelar cómo nos movemos a través de entornos urbanos.

Joby Aviation, Inc. (Joby) - Modelo de negocios: asociaciones clave

Toyota Motor Corporation

Toyota invirtió $ 394 millones en Joby Aviation en enero de 2020. La asociación estratégica incluye:

• Soporte y experiencia de fabricación
• $ 55.8 millones de inversiones adicionales en mayo de 2022
• Acceso a las capacidades de fabricación global de Toyota

Detalles de inversión	Cantidad
Inversión inicial (enero de 2020)	$ 394 millones
Inversión adicional (mayo de 2022)	$ 55.8 millones

Colaboración de la NASA

La asociación de movilidad aérea avanzada de la NASA (AAM) se centra en:

• Desarrollo de tecnología para aviones de despegue y aterrizaje vertical eléctrico (EVTOL)
• Investigación e innovación aeroespacial

Asociación de United Airlines

United Airlines se comprometió a comprar:

• $ 15 millones de pago previo a la entrega a Joby
• Orden inicial de 100 aviones EVTOL
• Integración potencial de servicios de taxi aéreo comercial

Compromiso de la Administración Federal de Aviación (FAA)

Los hitos regulatorios incluyen:

• Recibió la base de la certificación de la etapa G-1 en marzo de 2022
• Proceso de solicitud de certificado de tipo continuo

Mobilidad del aire urbano de la cuchilla

Detalles potenciales de la asociación operativa:

Enfoque de asociación	Estado
Integración de la movilidad del aire urbano	Discusiones exploratorias
Expansión de red de servicio potencial	Colaboración preliminar

Joby Aviation, Inc. (Joby) - Modelo de negocio: actividades clave

Diseño de aviones de despegue y aterrizaje vertical eléctrico (EVTOL)

Joby Aviation ha invertido $ 880 millones en desarrollo de aeronaves a partir del tercer trimestre de 2023. Las características de diseño de aeronaves EVTOL de la compañía:

Parámetro de diseño	Especificación
Rango máximo	150 millas
Capacidad de pasajeros	4 pasajeros
Velocidad máxima	200 mph
Energía de la batería	288 kWh

Desarrollo avanzado de sistemas de propulsión de batería y electricidad

El desarrollo del sistema de propulsión de Joby implica:

• 6 motores eléctricos con diseño integrado
• Eficiencia motora de 96%
• Mejoras de densidad de energía del 15% anual

Investigación de tecnología de vuelo autónomo

Las inversiones de investigación en tecnologías autónomas alcanzaron $ 127 millones en 2023, con áreas de enfoque clave:

Dominio de la investigación	Inversión
Sistemas de control de vuelo	$ 47 millones
Algoritmos de seguridad	$ 39 millones
Tecnologías de navegación	$ 41 millones

Certificación regulatoria y cumplimiento

Las actividades de cumplimiento regulatoria incluyen:

• FAA Parte 135 Certificado de transportista aéreo obtenido
• Proceso de solicitud de certificado de tipo continuo
• $ 62 millones gastados en esfuerzos de certificación en 2023

Planificación de infraestructura de movilidad aérea urbana

Asociaciones e inversiones de desarrollo de infraestructura:

Pareja	Inversión	Ubicación
Líneas aéreas delta	$ 60 millones	Estados Unidos
Toyota Motor Corporation	$ 394 millones	Mercados globales

Joby Aviation, Inc. (Joby) - Modelo de negocio: recursos clave

Tecnología de aviones eléctricos patentados

Joby Aviation ha desarrollado un avión vertical y aterrizaje vertical totalmente eléctrico (EVTOL) Con las siguientes especificaciones tecnológicas específicas:

Especificación tecnológica	Métricas detalladas
Gama de aviones	150 millas
Velocidad máxima	200 mph
Capacidad de pasajeros	5 pasajeros
Número de rotores eléctricos	6 rotores inclinados

Talento de ingeniería avanzada y capacidades de I + D

La fuerza laboral de ingeniería de Joby comprende:

• Empleados totales de I + D: 450
• Titulares de doctorado: 38%
• Especialistas en ingeniería aeroespacial: 62%

Capital de riesgo significativo y financiación de inversiones estratégicas

Detalles de financiación a partir de 2024:

Categoría de inversión	Cantidad
Capital de riesgo total recaudado	$ 820 millones
Inversiones estratégicas	$ 394 millones
Inversión de Toyota Motor Corporation	$ 394 millones

Prototipo de aviones EVTOL e infraestructura de prueba

• Aeronave prototipo operativo: 3
• Horario de vuelo de prueba completado: 1.300
• Certificado de aeronavegabilidad experimental de la FAA: obtenido

Cartera de propiedades intelectuales en aviación eléctrica

Categoría de IP	Número
Patentes totales archivadas	87
Patentes concedidas	52
Aplicaciones de patentes pendientes	35

Joby Aviation, Inc. (Joby) - Modelo de negocio: propuestas de valor

Alternativa de transporte urbano de emisión cero

El avión de despegue y aterrizaje vertical eléctrico (EVTOL) de Joby Aviation produce 0 emisiones directas de carbono durante la operación. El avión de la compañía puede viajar hasta 150 millas en una sola carga eléctrica.

Métrico de emisión	Valor
Emisiones de CO2	0 g/pasajero-milla
Eficiencia de la batería	4.1 millas/kWh

Tiempos de viaje más rápidos en comparación con el transporte terrestre

El avión EVTOL de Joby Aviation puede alcanzar la velocidad de tierra de 200 mph, reduciendo significativamente los tiempos de tránsito urbano.

• El tránsito de tierra típico de Los Ángeles: 45 minutos
• Joby Evtol Transit estimado: 15 minutos

Reducción de la congestión del tráfico en áreas metropolitanas

Cada avión de trabajo puede eliminar potencialmente 1.5 vehículos terrestres Desde carreteras urbanas durante las horas pico de tránsito.

Menores costos operativos que los helicópteros tradicionales

Métrico de costo	Helicóptero	Joby Evtol
Por milla de costo operativo	$22.50	$6.75
Costo de mantenimiento por hora	$450	$125

Movilidad personal mejorada y flexibilidad de transporte

El diseño de aviones de Joby permite Capacidad de 5 pasajeros con un Rango urbano de 30 millas por carga única.

• Capacidad de despegue vertical
• Sin requisitos de pista
• Opciones de transporte urbano y suburbano

Joby Aviation, Inc. (Joby) - Modelo de negocios: relaciones con los clientes

Ventas directas a operadores de aviación comercial

A partir del cuarto trimestre de 2023, la estrategia de ventas directas de Joby Aviation se dirige a los operadores de aviación comercial con un potencial de ventas proyectado de $ 500 millones para 2025. Los compromisos actuales de pedido anticipado de los socios comerciales incluyen el acuerdo de compra de 100 unidades de United Airlines valorado en aproximadamente $ 75 millones.

Segmento de clientes	Enfoque de ventas	Ingresos proyectados
Aerolíneas comerciales	Ventas empresariales directas	$ 500 millones (pronóstico de 2025)
Transporte urbano	Asociaciones estratégicas	$ 250 millones (pronóstico de 2026)

Plataforma digital para la reserva y gestión de servicios

Características de la plataforma digital de Joby Aviation:

• Capacidades de reserva de vuelo en tiempo real
• Sistema de reserva avanzado
• Aplicación móvil con 99.7% de tiempo de actividad

Atención al cliente y asistencia técnica

La infraestructura de soporte técnico incluye:

• Centro de servicio al cliente 24/7
• Tiempo de respuesta: menos de 30 minutos
• Equipo de soporte técnico dedicado de 42 especialistas

Experiencias personalizadas de movilidad del aire urbano

Las métricas de personalización demuestran:

Parámetro de experiencia	Nivel de personalización
Flexibilidad de ruta	95% adaptable
Seguimiento de preferencias de pasajeros	87% de precisión

Comunicación transparente sobre seguridad y tecnología

Métricas de comunicación de seguridad:

• Informes de seguridad revelados públicamente: trimestralmente
• Índice de transparencia tecnológica: 92%
• Frecuencia de auditoría de seguridad independiente: Bianual

Joby Aviation, Inc. (Joby) - Modelo de negocios: canales

Equipo de ventas directas

A partir del cuarto trimestre de 2023, el equipo de ventas directas de Joby Aviation constaba de 37 profesionales de ventas especializados centrados en asociaciones empresariales y gubernamentales.

Métrico de canal de ventas	2023 datos
Tamaño total del equipo de ventas	37 profesionales
Valor de contrato empresarial promedio	$ 2.4 millones
Tasa de conversión de ventas	22.5%

Plataformas digitales en línea

Joby Aviation mantiene una infraestructura integral de ventas digitales con métricas específicas de participación en línea:

• Sitio web Visitantes mensuales: 124,000
• Tasa de generación de leads digital: 3.7%
• Plataforma de reserva en línea lanzada: septiembre de 2023

Conferencias de la industria de la aviación

La participación en la conferencia en 2023 incluyó:

Conferencia	Fecha	Potencios potenciales
Hai Heli-Expo	Marzo de 2023	87 contactos empresariales
Convención de aviación empresarial de la NBAA	Octubre de 2023	112 Discusiones de asociación potenciales

Redes de socios estratégicos

Las asociaciones estratégicas actuales incluyen:

• Toyota Motor Corporation (inversor de renta variable)
• Acuerdo de colaboración de tecnología de la NASA
• Asociación de certificación de la FAA

Mercadeo digital y tecnología exhibidas

Métricas de rendimiento de marketing digital para 2023:

Canal digital	Métricas de compromiso
LinkedIn	42,000 seguidores, tasa de participación del 3.2%
Demostraciones técnicas de YouTube	1.2 millones de visitas al total
Asistencia en el seminario web de tecnología	2.800 participantes registrados

Joby Aviation, Inc. (Joby) - Modelo de negocio: segmentos de clientes

Viajeros urbanos

Tamaño del mercado objetivo: 47.6 millones de viajeros urbanos en las 50 principales áreas metropolitanas de EE. UU.

Área metropolitana	Posibles viajeros urbanos	Tiempo de viaje promedio
Área de la Bahía de San Francisco	4.7 millones	54 minutos
Ciudad de Nueva York	8.4 millones	41 minutos
Los Ángeles	6.2 millones	62 minutos

Profesionales de negocios

Mercado objetivo estimado: 12.3 millones de profesionales de altos ingresos en las principales ciudades de EE. UU.

• Ingresos anuales promedio: $ 185,000
• Disposición para pagar la prima por el transporte que ahorra tiempo: 68%
• Rutas principales: conexiones centrales de aeropuerto a ciudad

Servicios médicos de emergencia

Tamaño del mercado potencial: 3.141 condados en los Estados Unidos que requieren soluciones de transporte médico.

Categoría de servicio	Tasa de adopción potencial	Valor anual estimado
Transporte médico de emergencia	22%	$ 1.4 mil millones
Transporte de cuidados críticos	15%	$ 890 millones

Mercado de transporte de lujo

Valor de mercado global de transporte de lujo: $ 214.6 mil millones en 2023.

• Individuos de alto nivel de red: 513,000 en los Estados Unidos
• Gasto promedio en transporte premium: $ 45,000 anualmente
• Regiones objetivo: California, Nueva York, Florida

Operadores de carga y logística

Tamaño del mercado de logística de EE. UU.: $ 1.64 billones en 2023.

Segmento logístico	Tamaño del mercado	Adopción potencial de evtol
Entrega de última milla	$ 255 mil millones	17%
Servicios Express Courier	$ 132 mil millones	24%

Joby Aviation, Inc. (Joby) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2023, Joby Aviation reportó gastos de I + D de $ 215.1 millones, lo que representa una inversión significativa en el desarrollo de la tecnología EVTOL.

Año fiscal	Gastos de I + D	Porcentaje de gastos operativos totales
2023	$ 215.1 millones	68.3%
2022	$ 181.3 millones	65.7%

Costos de fabricación de aviones

Los costos estimados de fabricación directa para el prototipo de aviones EVTOL de Joby oscilan entre $ 2.5 millones y $ 3.5 millones por unidad.

• Costos de producción prototipo: $ 2.5- $ 3.5 millones por avión
• Volumen de producción inicial planificado: 500 aviones para 2026
• Inversión de fabricación total estimada: $ 1.25- $ 1.75 mil millones

Cumplimiento y certificación regulatoria

Joby ha invertido aproximadamente $ 45.7 millones en procesos de certificación de la FAA y esfuerzos de cumplimiento regulatorio en 2023.

Categoría de cumplimiento	Gasto anual
Certificación de la FAA	$ 35.2 millones
Cumplimiento de seguridad	$ 10.5 millones

Adquisición y retención de talentos

En 2023, Joby gastó aproximadamente $ 62.4 millones en adquisición de talento, compensación de empleados y estrategias de retención.

• Salario promedio de ingeniería: $ 145,000- $ 185,000
• Total de empleados: 850 a diciembre de 2023
• Costos de reclutamiento de empleados: $ 18.6 millones

Desarrollo de marketing y infraestructura

Los costos de marketing y desarrollo de infraestructura para Joby Aviation totalizaron $ 37.8 millones en 2023.

Categoría de infraestructura	Inversión
Desarrollo de vertiport	$ 22.5 millones
Plataforma digital	$ 8.3 millones
Campañas de marketing	$ 7 millones

Joby Aviation, Inc. (Joby) - Modelo de negocios: flujos de ingresos

ventas de aviones evtol

A partir del cuarto trimestre de 2023, Joby Aviation ha reendido 12,000 horas de aeronaves a United Airlines, con un valor contractual potencial total de $ 328 millones. El precio de la aeronave EVTOL de la compañía se estima en aproximadamente $ 2.2 millones por unidad.

Tarifas del servicio de movilidad aérea urbana

Ingresos del servicio de movilidad aérea urbana proyectada para 2024-2025:

Año	Ingresos de servicio estimados
2024	$ 14.3 millones
2025	$ 42.7 millones

Licencias de tecnología

Los acuerdos de licencia de tecnología actual incluyen:

• Toyota Motor Corporation Inversión: $ 394 millones
• Potencial de licencia estimado en $ 18.5 millones anuales

Contratos de Gobierno y de Investigación

Portafolio de contrato gubernamental actual:

Tipo de contrato	Valor	Duración
Contrato de investigación de la NASA	$ 16.2 millones	2023-2025
Departamento de Investigación de Defensa	$ 22.7 millones	2024-2026

Servicios de mantenimiento y soporte

Final de ingresos de mantenimiento proyectado:

• Costo de mantenimiento anual por aeronave: $ 175,000
• Ingresos de mantenimiento anuales estimados para 50 aviones: $ 8.75 millones

Total de flujos de ingresos proyectados para 2024: $ 65.5 millones

Joby Aviation, Inc. (JOBY) - Canvas Business Model: Value Propositions

You're looking at the core promises Joby Aviation, Inc. is making to its customers and partners as they push toward commercial launch.

Time-saving urban and regional air travel, bypassing congestion

Joby Aviation, Inc. offers a direct escape from ground-based traffic by providing on-demand air taxi services. The core value here is the time reclaimed for the passenger. For instance, the recently acquired Blade Air Mobility, Inc. passenger business demonstrated this by replacing two-and-a-half hour drives with 12 minute flights for fans attending the Ryder Cup during the third quarter of 2025. The Joby S4 aircraft is engineered for speed, boasting a maximum cruise speed of 200 mph (322 km/h). While the battery-only range is approximately 100 miles (161 km) including reserves, the company has already completed over 600 flights in 2025 to mature its operations and airspace integration capabilities. The company validated commercial readiness in Dubai by completing 21 full-transition flights during a multi-week campaign in the summer of 2025.

Zero-emission, sustainable, and significantly quieter mobility

The all-electric nature of the Joby eVTOL aircraft delivers on environmental promises. The aircraft is designed to operate with no emissions during flight. Furthermore, the operational noise profile is a key differentiator; the aircraft is designed to be 100 times quieter during takeoff and landing compared to a traditional helicopter. This quiet operation is critical for urban acceptance. To explore extended range options, a hydrogen-electric hybrid conversion of a demonstrator aircraft achieved a non-stop flight of 561 miles (903 km) in 2024, with the only emission being water vapor.

High safety standards via rigorous FAA certification process

Safety is validated through one of the most stringent regulatory processes globally. As of the third quarter of 2025, Joby Aviation, Inc. has reached 70 percent completion on its side of Stage 4 of the Federal Aviation Administration (FAA) type certification program, with the FAA side over 50 percent complete. The company has begun power-on testing of its first FAA-conforming aircraft, which is designated for Type Inspection Authorization (TIA) flight testing. Joby pilots are scheduled to begin flying this conforming aircraft in 2025, followed by FAA test pilots for direct evaluation, which is the final major step before Type Certification. Structural integrity was validated through static load testing where forces applied to aerostructures exceeded expected flight loads.

Vertical takeoff/landing capability for urban operations

The ability to take off and land vertically, just like a helicopter, allows Joby Aviation, Inc. to access dense urban environments without needing long runways. The S4 aircraft is configured to carry 1 pilot and 4 passengers. The maximum payload capacity is approximately 1,000 lb (453 kg). This capability is enabled by a propulsion system featuring 6 tilt-propellers.

Dual-use technology for both commercial and defense markets

The core eVTOL technology is being adapted for government and defense applications, diversifying the market reach. Joby Aviation, Inc. is pursuing defense opportunities through a collaboration with L3Harris Technologies to develop a gas turbine hybrid variant of the aircraft, with flight testing planned for Fall 2025. This defense work is built upon the existing Agility Prime contract with the U.S. Air Force, which has a total potential value up to $131 million. As part of this commitment, Joby delivered two eVTOL aircraft to MacDill Air Force Base in 2025. The defense variant is incorporating the proprietary SuperPilot autonomous system.

The commercial market access is being bolstered by strategic agreements, including one with Abdul Latif Jameel to potentially deploy up to 200 aircraft in the Middle East, valued at approximately $1 billion.

The following table summarizes key specifications and program metrics relevant to these value propositions as of late 2025:

Value Proposition Metric	Specification/Amount	Context/Source
Passenger Capacity	1 Pilot, 4 Passengers	S4 Aircraft Configuration
Maximum Cruise Speed	200 mph (322 km/h)	S4 Civilian Version
Battery-Only Range	100 miles (161 km)	With energy reserves
FAA Certification Progress (Joby Side)	70% complete in Stage 4	As of Q3 2025
FAA Certification Progress (FAA Side)	Over 50% complete in Stage 4	As of Q3 2025
2025 Flight Operations	Over 600 flights conducted	As of Q3 2025
Defense Contract Value	Up to $131 million	Total Agility Prime Contract with USAF
Defense Deliveries in 2025	Two aircraft delivered to MacDill AFB	As part of the Agility Prime contract
Dubai Commercial Validation Flights	21 full-transition flights completed	Summer 2025 campaign
Cash Reserves (End Q2 2025)	$991 million	Cash, cash equivalents, and marketable securities

Joby Aviation, Inc. (JOBY) - Canvas Business Model: Customer Relationships

You're looking at how Joby Aviation, Inc. (JOBY) plans to build loyalty and secure demand for its electric vertical takeoff and landing (eVTOL) services. It's a multi-pronged approach, blending high-profile strategic alliances with direct operational integration, all designed to de-risk the commercial launch.

Co-development and deep strategic partnering with key investors

Joby Aviation, Inc. has cemented relationships with major players, treating them as partners in development and early adoption rather than just customers. This strategy is key to securing both capital and future demand. For instance, the relationship with Toyota Motor Corporation has resulted in an investment totaling nearly $900 million as of mid-2025.

The company's vertical integration strategy is also reflected in its operational partnerships, which serve as crucial stepping stones to scaling. The acquisition of Blade Air Mobility's passenger business in August 2025, valued at up to $125 million in cash or stock, immediately brought in established urban air travel infrastructure and customer flow. This move is designed to bridge the gap until JOBY's own eVTOLs are certified.

Here's a look at some of the most significant strategic relationships that define the customer relationship landscape for Joby Aviation, Inc.:

Partner Type	Partner Name	Financial/Operational Metric	Significance to Customer Relationship
Strategic Investor/Manufacturer	Toyota Motor Corporation	Total investment near $900 million	Deep co-development, manufacturing support, and validation of technology.
Strategic Investor/Airline	Delta Air Lines	Deal worth up to $200 million, including $60 million investment	Secures initial high-value routes in New York and Los Angeles for premium customers.
Acquisition/Operator Bridge	Blade Air Mobility (Passenger Business)	Acquired for up to $125 million	Provides immediate operational footprint and access to a customer base that moved over 50,000 passengers in 2024.
International Market Access	Dubai's Road and Transport Authority (RTA)	Agreement for air taxi services by 2026 with six years of exclusivity	Establishes a key early commercial market and provides a global testing ground.

Digital, app-based booking for air taxi services via Uber integration

The path to the everyday customer is heavily reliant on digital platforms. Joby Aviation, Inc. is leveraging its long-standing relationship with Uber Technologies, Inc. The initial collaboration, which began in 2019, was significantly enhanced by Joby's acquisition of Uber's Elevate division. The plan is for Uber users to book Joby's air taxi services directly through the Uber app, starting in 2026, following the integration of the newly acquired Blade services.

Uber has been a financial backer, investing $50 million in Series C financing and another $75 million later on. This deep integration means that the customer relationship management, demand modeling, and route optimization tools developed by Uber Elevate are now part of Joby Aviation, Inc.'s operational backbone. While the eVTOL service is planned for late 2025 or early 2026 in Dubai, the Uber integration is set for 2026.

High-touch, premium service for initial commercial passengers

The initial customer experience is being carefully managed through a phased international rollout, focusing on premium, high-value routes. Joby Aviation, Inc. intends to carry its first passengers in Dubai in late 2025 or early 2026. This initial phase is less about volume and more about proving the concept and establishing a premium brand perception. The aircraft itself is designed to carry four passengers plus a pilot.

The recently acquired Blade operation already provides a taste of this service model. During the third quarter of 2025, the Blade passenger service transported approximately 40,000 passengers, including fans at the Ryder Cup who replaced a two-and-a-half-hour drive with 12 minute flights. This demonstrates the immediate value proposition for time-sensitive, premium travelers. Joby Aviation, Inc. reported Q3 2025 revenue of $23 million, which reflects progress in monetizing these early operations, even as the net loss widened to $401 million for the quarter.

Long-term, performance-based contracts with government entities

The relationship with the U.S. government is a critical, non-revenue-generating (in the traditional sense) but highly valuable form of customer engagement. Joby Aviation, Inc. has a significant contract with the U.S. Air Force under the Agility Prime program. The total potential value of Joby Aviation, Inc.'s current contract with the Air Force is up to $131 million. Including prior work, the total potential contract value with the Department of Defense (DoD) stands at $163 million.

These contracts involve performance milestones, such as the delivery of aircraft for testing and training. Joby Aviation, Inc. delivered its first aircraft to Edwards Air Force Base in September 2023 and delivered a second aircraft there in 2024. Furthermore, Joby Aviation, Inc. announced plans to deliver two aircraft to MacDill Air Force Base in 2025 as part of this ongoing work. This relationship serves as a powerful validation of the technology for future commercial customers and opens the door to other defense contracts, with a new defense partnership announced in August 2025 promising a lucrative stream of future government work.

Direct sales and support for third-party aircraft operators

While Joby Aviation, Inc. plans to operate its own fleet initially, the model allows for future expansion through third parties. The acquisition of Blade, which operates helicopter and seaplane routes, immediately brings in a network of established operational expertise that can be transitioned to support Joby's eVTOLs.

Beyond the Blade integration, Joby Aviation, Inc. has also established relationships that suggest future third-party utilization. For example, the company signed a partnership with Jetex, an executive transportation company in the Middle East, which could involve Jetex using Joby's air taxis across its facilities. This indicates a strategy to support operators who may wish to integrate eVTOL services into their existing high-end transportation offerings, rather than Joby Aviation, Inc. exclusively owning and operating every aircraft.

The company is also preparing its internal support structure, replicating traditional aerospace manufacturer processes for maintenance readiness as it nears commercial service. Joby Aviation, Inc. ended Q3 2025 with $978.1 million in cash, cash equivalents, and marketable securities, which is intended to support certification and manufacturing efforts ahead of scaling operations. Finance: draft 13-week cash view by Friday.

Joby Aviation, Inc. (JOBY) - Canvas Business Model: Channels

You're looking at how Joby Aviation, Inc. plans to get its aircraft and service into the hands of customers and partners across the globe. It's a multi-pronged approach, blending direct operations with strategic digital and defense partnerships. Honestly, the channel strategy is as complex as the aircraft itself.

Direct-Operated Air Taxi Service Network

Joby Aviation, Inc. is setting up to run its own air taxi service in key global markets, which is a massive undertaking requiring physical infrastructure and regulatory sign-off. You know the big one is Dubai.

The agreement with Dubai's Road and Transport Authority (RTA) grants Joby Aviation, Inc. the exclusive right to operate air taxis in the Emirate for six years. Joby is targeting initial commercial passenger service in Dubai as early as 2025, with the full service set to launch by early 2026. This network is being built out with physical locations in mind.

• Completed the UAE's first piloted point-to-point air taxi flight in November 2025, landing at Al Maktoum International Airport (DWC).
• The planned initial network includes vertiports at Dubai International Airport (DXB), Dubai Mall, Atlantis the Royal, and American University of Dubai.
• The company has logged more than 40,000 miles of flight testing since 2017 as of late 2024, building operational confidence.

The aircraft itself is designed for urban travel, with a top speed of 200MPH and a range of about 100 miles on a charge.

Integrated Booking via the Uber and Blade Digital Platforms

This channel leverages existing, massive digital networks to drive demand and provide immediate booking capability, even before the Joby Aviation, Inc. eVTOLs are fully certified for passenger service. It's smart to use a platform that already has millions of users.

Joby Aviation, Inc. acquired Blade Air Mobility, Inc.'s passenger business for up to $125 million. This acquisition gives Joby Aviation, Inc. immediate access to established routes and a customer base that previously used Blade's helicopter and seaplane services, which carried over 50,000 passengers in 2024. The plan is to integrate these existing Blade services into the Uber app as early as 2026. Uber Technologies, Inc. boasts over 150 million monthly active users globally.

Here's the quick math on the integration:

Platform Integration Detail	Associated Number/Amount
Blade Passenger Business Acquisition Cost	$125 million
Blade Passengers Carried (2024)	Over 50,000
Uber Monthly Active Users (Global)	Over 150 million
Targeted Uber App Integration Year (Blade Services)	2026

What this estimate hides is the immediate revenue Joby Aviation, Inc. gains by operating the existing Blade business while waiting for its own aircraft certification.

Direct Sales Channel to the U.S. Department of Defense

The U.S. Department of Defense (DoD) serves as a crucial early customer and validation partner, providing significant, non-commercial revenue that helps offset research and development costs. This is a direct-to-government sales channel.

Joby Aviation, Inc.'s current and previously completed work with the DoD under the Agility Prime contract represents a total potential value of $163 million. The maximum value of the contract with the U.S. Air Force is up to $131 million, which includes the delivery and operation of up to nine Joby aircraft. As part of this, Joby Aviation, Inc. is set to deliver two aircraft to MacDill Air Force Base in 2025. For context, the company reported $23 million in revenue for Q3 2025, which was mainly derived from government and defense-related work.

Aircraft Sales to International Commercial Operators

Beyond operating its own service, Joby Aviation, Inc. intends to sell its aircraft to other commercial partners globally. This is a pure manufacturing sales channel.

New agreements Joby Aviation, Inc. has established with partners like Abdul Latif Jameel and All Nippon Airways (ANA) will explore the deployment of approximately 300 aircraft.

Dedicated Vertiport Infrastructure (Vertiports) in Key Markets

The physical landing and takeoff infrastructure is a necessary channel component for any air taxi service. Joby Aviation, Inc. is working with partners to secure these sites.

In Dubai, Skyports Infrastructure is building the necessary vertiports. The first site, at Dubai International Airport (DXB), is expected to be completed by early 2026. This initial network is planned to connect key areas, aiming to cut typical car journey times by more than two-thirds.

To support its planned production scale, Joby Aviation, Inc. expanded its Marina, California manufacturing site to 435,000 total square feet, aiming to double its production capacity at that site to 24 aircraft per year. The Dayton facility is expected to eventually produce up to 500 aircraft per year.

You should note the balance sheet strength supporting these channel investments; Joby Aviation, Inc. ended the second quarter of 2025 with $991 million in cash and short-term investments. Finance: draft 13-week cash view by Friday.

Joby Aviation, Inc. (JOBY) - Canvas Business Model: Customer Segments

You're looking at the specific groups Joby Aviation, Inc. is targeting with its electric vertical take-off and landing (eVTOL) aircraft as of late 2025. This isn't just about one type of flyer; it's a multi-pronged approach to capturing different high-value travel needs.

Time-sensitive urban commuters and business travelers

This segment is focused on trading time for premium cost, seeking to bypass ground congestion in major metropolitan areas. The initial consumer target leans towards affluent individuals who value time savings and a premium travel experience. For example, following the acquisition of Blade Air Mobility, Inc.'s passenger business, that service transported approximately 40,000 passengers during the third quarter of 2025. In one instance, Ryder Cup fans replaced two-and-half hour drives with 12 minute flights. The initial geographic focus for direct service is New York and Los Angeles.

• Target passenger yield: $4-5/mile.
• Target fleet utilization: 6-8 hours/day.
• Initial load factor target: 65%.

U.S. Department of Defense and other government agencies

Joby Aviation, Inc. has a deep, ongoing relationship with the U.S. government, which provides both revenue and critical operational validation. Joby's current and previously completed work with the Department of Defense (DoD) represents a total potential contract value of $163 million, which is the largest in the industry as of March 2024. A prior contract extension brought the total potential value up to $131 million for the delivery and operation of up to nine five-seat eVTOL aircraft. As part of the AFWERX Agility Prime contract, Joby Aviation, Inc. announced it will deliver two aircraft to MacDill Air Force Base in 2025 for personnel transport, casualty evacuation, and security force support testing. Furthermore, a new collaboration with L3Harris is underway to pursue defense opportunities with a gas turbine hybrid variant, with operational demonstrations planned for 2026.

Commercial aviation operators and airlines (e.g., Delta)

This is a crucial B2B segment where Joby Aviation, Inc. integrates its service into existing major airline networks for seamless city-to-airport travel. The partnership with Delta Air Lines includes an upfront equity investment of $60 million, with the potential for up to $200 million as key milestones are reached. New agreements with Abdul Latif Jameel and ANA will explore the deployment of approximately 300 aircraft. Joby Aviation, Inc. also aims to sell aircraft directly to partners, with a projected sales potential of $500 million by 2025, and an order backlog target of 200+ units by the second quarter of 2025. Joby ended the third quarter of 2025 with $978.1 million in cash, cash equivalents, and investments in marketable securities, supporting this scaling effort.

Here's a quick look at the projected revenue potential across Joby Aviation, Inc.'s business segments for 2025:

Revenue Stream	Expected Launch	2025 Revenue Potential	Key Metrics to Monitor
Commercial Air Taxi Operations	Q4 2025	$5-15 million	Fleet utilization, passenger yield
Military/Government Contracts	Q2 2025	$20-40 million	Contract renewal rate
Aircraft Sales to Partners	Q3 2025	$40-80 million	Order backlog, production rate achievement
Certification/Technical Milestone Payments	Throughout 2023-2025	$10-30 million	Milestone completion rate

High-net-worth individuals and executive transport services

This group overlaps with the urban commuter segment but is also served through specialized partnerships. Joby Aviation, Inc. signed a partnership with Jetex, an executive transportation company, that could see them use the air taxis to move customers around its collection of facilities in the Middle East. The company is also pursuing defense opportunities with a gas turbine hybrid variant that could serve dual-use technology requirements by 2026.

Regenerative tourism and inter-emirate travel markets

The Middle East is a key international market for Joby Aviation, Inc. Initial flights are anticipated in the first half of 2025, with full commercialization expected in the latter half of the year in Dubai. Joby completed 21 full-transition flights in Dubai during the summer of 2025 to validate commercial readiness. The company has also introduced three new vertiports in Dubai, working with the Road and Transport Authority toward launching commercial passenger services by 2026. Joby Aviation, Inc. also flew above attendees of the World Expo 2025 in Osaka, Japan, demonstrating its technology to a massive global audience.

• Joby ended Q2 2025 with $991 million in cash, cash equivalents, and investments in marketable securities.
• Joby estimates its use of cash, cash equivalents and short-term investments during 2025 will range between $500-$540 million.

Finance: draft 13-week cash view by Friday.

Joby Aviation, Inc. (JOBY) - Canvas Business Model: Cost Structure

You're looking at the core expenditures that keep Joby Aviation, Inc. moving toward commercial flight, which, as you know, is incredibly capital-intensive right now. The cost structure is dominated by the massive investment required to get an entirely new class of aircraft certified and ready for mass production. It's a burn rate that reflects a company building hardware from the ground up while simultaneously navigating complex regulatory hurdles.

The single largest controllable cost driver is the engineering and testing required for airworthiness. Joby Aviation, Inc. reported $136.4 million in Research and Development spending for the second quarter of 2025 alone. This spending directly fuels the final push through the Federal Aviation Administration (FAA) Type Certification process. To be fair, this R&D spend is not just abstract; it covers personnel, software development, prototype manufacturing, and the rigorous certification efforts needed to move the first conforming aircraft into Type Inspection Authorization (TIA) flight testing.

Scaling up production is the next huge cost center. Joby Aviation, Inc. completed the expansion of its Marina, California manufacturing site, which now covers 435,000 total square feet, with the plan to double capacity there to 24 aircraft per year. Furthermore, the Dayton, Ohio facility is being established with the long-term potential to produce up to 500 aircraft annually. These physical expansions require significant upfront capital outlay.

The company's overall financial planning reflects this high-cost environment. Joby Aviation, Inc. continues to estimate that its use of cash, cash equivalents, and short-term investments during 2025 will range between $500 million and $540 million, excluding the potential impact of its proposed acquisition of the passenger business of Blade. This projected cash burn is the reality of pre-revenue aerospace development.

Here's a quick look at some of the key financial data points from the recent reporting period:

• R&D expenses for the twelve months ending September 30, 2025, reached $0.542B.
• Q2 2025 use of cash totaled $112 million, which included about $12 million on property and equipment.
• Q3 2025 cash flow for capital expenditures was reported at $-13.02 Mil.
• The company is in the final stage of certification, with TIA testing by Joby pilots expected to start later in 2025.

The costs associated with regulatory compliance and certification are deeply embedded across multiple line items, but they are a non-negotiable component of the business model. Joby Aviation, Inc. is working through the fourth of five stages of its FAA type certification program. This process demands thousands of hardware and software tests that must be documented and validated for the FAA to issue the Type Certificate required for commercial operation. Honestly, this is where the biggest near-term risk to the cost runway lies.

To give you a clearer picture of the scale of spending, here are some of the key financial metrics:

Cost Category/Metric	Period	Amount
Research and Development Spending	Q2 2025	$136.4 million
Projected Full-Year 2025 Cash Use	Full Year 2025 Estimate	$500 million to $540 million
Cash Flow for Capital Expenditures	Three Months Ended Sep. 2025	$-13.02 Mil
Property and Equipment Spending	Q2 2025	About $12 million
Total Operating Expenses (as part of cash use)	Q2 2025	Contributed to $112 million cash use

Operating expenses also cover the necessary activities to transition from development to service readiness. This includes the costs associated with maturing flight operations, such as the completion of point-to-point flights and demonstrations for partners and potential customers, like the flights conducted in Osaka for World Expo 2025. These activities are essential for proving commercial viability and securing future revenue streams, even though they are currently pure cost drivers.

Joby Aviation, Inc. (JOBY) - Canvas Business Model: Revenue Streams

You're looking at the revenue streams for Joby Aviation, Inc. as of late 2025, and honestly, it's a mix of current operations and future promises. The immediate top-line performance is not yet from selling your own electric vertical take-off and landing (eVTOL) rides, but from the acquired helicopter business and defense work. The company reported third quarter 2025 revenue of $22.6 million. This revenue is primarily from non-core operations while the core eVTOL certification is finalized.

The passenger service revenue from the acquired Blade business is a key component, showing demand signals ahead of your own eVTOL launch. In the third quarter of 2025, Blade transported approximately 40,000 customers. This existing operation is being integrated with the Uber partnership to connect millions of daily users with vertical lift potential.

To be fair, the Q3 2025 revenue of $22.6 million breaks down into two main buckets, showing where the near-term cash is coming from:

Revenue Component	Q3 2025 Amount (USD Millions)
Blade Passenger Service	~14
Defense & Engineering (incl. Agility Prime)	~9
Total GAAP Revenue	22.6

Government contracts and aircraft sales are another significant source, even before your own commercial service begins. You are seeing revenue from defense/engineering work. The U.S. Government's eIPP program is pulling early demand for your aircraft forward, and the Department of Defense has requested $9.4 billion in its FY26 budget to advance autonomous and hybrid aircraft.

Looking further out, aircraft sales to third-party commercial operators represent massive potential value, grounded in existing agreements. These are the pre-orders that secure future manufacturing slots and revenue:

• Agreement with Abdul Latif Jameel for potential deployment of up to 200 aircraft in Saudi Arabia and surrounding regions, valued at approximately $1 billion.
• Agreement with ANA Holdings to explore deployment of over 100 aircraft in Japan.

This positions Joby Aviation, Inc. to start generating revenue from aircraft deliveries once certification is complete.

Early-stage technology and service agreements are also being monetized, setting up durable, recurring revenue streams. For instance, the vertical integration and focus on OEM (Original Equipment Manufacturer) sales open up the aftermarket. Since eVTOL aircraft will need battery replacements roughly every 10-20 months, battery revenue over time is expected to exceed the initial OEM sale. Analysts estimate the OEM market at $250 billion and the aftermarket at $750 billion. Plus, you have technology acceleration through partnerships, such as being named the NVIDIA IGX Thor launch partner and developing a hybrid-electric demonstrator with L3Harris.

Finance: draft 13-week cash view by Friday.