Joby Aviation (JOBY) Is Down 14.1% After Larger Loss and UAE Certification Delay What's Changed

In the past week, Joby Aviation reported a third-quarter net loss of US$401.23 million alongside the announcement of a delay in its UAE certification timeline to the third quarter of 2026, pushing back commercial operations overseas. While the company continues advancing toward FAA type certification and expanded in-house manufacturing, these setbacks have intensified concerns about near-term profitability and international expansion pace. We'll explore how the delayed UAE certification and larger-than-expected quarterly loss reshape Joby Aviation's overall investment narrative.

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What Is Joby Aviation's Investment Narrative?

To own shares in Joby Aviation, an investor needs conviction in the business model and its ability to achieve FAA certification, scale production, and transition from heavy losses to future revenue growth. The recent news of a significant Q3 net loss and a delay in UAE certification meaningfully shifts the risk profile. Short-term catalysts, like achieving FAA Type Inspection Authorization and ramping up manufacturing in Ohio, remain important but may lose some immediacy given the extended timeline for international commercial service. The earnings miss and global certification delays have clearly heightened concerns around Joby’s path to profitability, as seen in the share price reaction. While the company’s long-term ambitions are unchanged, it is hard to argue the timeline and risk attached to execution have not increased. These developments now put even more focus on domestic milestones and cost control in the near term. On the other hand, dilution from recent equity raises is another key risk to keep in mind.

The analysis detailed in our Joby Aviation valuation report hints at an inflated share price compared to its estimated value.

Exploring Other PerspectivesJOBY Community Fair Values as at Nov 2025

Thirteen investors from the Simply Wall St Community estimate fair values for Joby Aviation between US$0.00 and US$12.50 per share. The company’s delayed UAE certification and higher cash burn continue to spark debate on its outlook. Explore how these views challenge consensus expectations.

Explore 13 other fair value estimates on Joby Aviation - why the stock might be worth as much as $12.50!

Build Your Own Joby Aviation Narrative

Disagree with this assessment? Create your own narrative in under 3 minutes - extraordinary investment returns rarely come from following the herd.

A great starting point for your Joby Aviation research is our analysis highlighting 1 key reward and 2 important warning signs that could impact your investment decision. Our free Joby Aviation research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Joby Aviation's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include JOBY.

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