Joby Aviation posts $286 million loss and $1.2bn in cash and short-term investment in Q2, 2023

Joby Aviation has posted a $286 million loss for Q2 2023. “This net loss reflected the unfavorable revaluation of derivative liabilities of $181 million and operating expenses of $116 million, partly offset by interest income of $11 million,” Joby said in a statement. Net cash used in operating activities and purchase of property plant and equipment totaled $77 million in the second quarter. The net loss posted by Joby reflects the cash spent by the companies in the race to become the first commercially operational eVTOL, with approaching deadlines on testing, certification and mass production. At the end of the second