Joby closes 2025 with $1.4bn cash as eVTOL development spending accelerates; shares remain volatile
Joby Aviation closed 2025 with $1.4 billion in cash and short-term investments, but rising capital outflows to fund S4 eVTOL development widened its cash burn. The company reported a strengthened balance sheet even as shares swung on plans to raise capital and investor scrutiny of certification progress.