2024 Q3 Form 10-Q Financial Statement

#000181984824000372 Filed on August 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $28.00K $28.00K
YoY Change
Cost Of Revenue $15.00K $15.00K
YoY Change
Gross Profit $13.00K $13.00K
YoY Change
Gross Profit Margin 46.43% 46.43%
Selling, General & Admin $30.57M $31.30M
YoY Change 10.73% 15.43%
% of Gross Profit 235146.15% 240800.0%
Research & Development $126.1M $113.0M
YoY Change 25.44% 27.18%
% of Gross Profit 970300.0% 869200.0%
Depreciation & Amortization $7.500M $7.200M
YoY Change 20.97% -3.46%
% of Gross Profit 57692.31% 55384.62%
Operating Expenses $156.7M $144.3M
YoY Change 22.28% 24.44%
Operating Profit -$156.7M -$144.3M
YoY Change 22.26% 24.42%
Interest Expense $9.528M $11.19M
YoY Change -29.99% 4.76%
% of Operating Profit
Other Income/Expense, Net $13.37M $21.01M
YoY Change -89.69% -111.62%
Pretax Income -$143.3M -$123.3M
YoY Change -9328.91% -56.9%
Income Tax $553.0K $10.00K
% Of Pretax Income
Net Earnings -$143.9M -$123.3M
YoY Change -9534.62% -56.9%
Net Earnings / Revenue -513850.0% -440328.57%
Basic Earnings Per Share -$0.21 -$0.18
Diluted Earnings Per Share -$0.21 -$0.18
COMMON SHARES
Basic Shares Outstanding 716.1M shares 708.4M shares
Diluted Shares Outstanding 695.0M shares 689.3M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $710.0M $825.0M
YoY Change -36.18% -30.95%
Cash & Equivalents $152.3M $175.1M
Short-Term Investments $557.7M $649.9M
Other Short-Term Assets $17.42M $19.36M
YoY Change -7.36% -4.84%
Inventory
Prepaid Expenses
Receivables
Other Receivables $10.40M $13.27M
Total Short-Term Assets $737.8M $857.7M
YoY Change -35.18% -29.97%
LONG-TERM ASSETS
Property, Plant & Equipment $112.0M $105.8M
YoY Change 11.53% -9.16%
Goodwill $14.32M $14.32M
YoY Change 2.22% 2.22%
Intangibles $9.561M $10.98M
YoY Change 19.63% 14.78%
Long-Term Investments
YoY Change
Other Assets $60.61M $60.62M
YoY Change 0.08% -2.0%
Total Long-Term Assets $226.5M $220.2M
YoY Change 7.11% 9.01%
TOTAL ASSETS
Total Short-Term Assets $737.8M $857.7M
Total Long-Term Assets $226.5M $220.2M
Total Assets $964.3M $1.078B
YoY Change -28.55% -24.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.940M $5.314M
YoY Change 3.2% 31.02%
Accrued Expenses $40.83M $37.84M
YoY Change -9.68% -5.48%
Deferred Revenue $4.160M $3.592M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $45.77M $43.16M
YoY Change -8.41% -2.12%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $4.283M $4.524M
YoY Change -15.82% -98.48%
Total Long-Term Liabilities $4.283M $4.524M
YoY Change -15.82% -98.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $45.77M $43.16M
Total Long-Term Liabilities $4.283M $4.524M
Total Liabilities $183.2M $183.2M
YoY Change -23.75% -46.45%
SHAREHOLDERS EQUITY
Retained Earnings -$1.609B -$1.466B
YoY Change 42.1% 29.23%
Common Stock $71.00K $71.00K
YoY Change 2.9% 5.97%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $781.0M $894.6M
YoY Change
Total Liabilities & Shareholders Equity $964.3M $1.078B
YoY Change -28.55% -24.45%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$143.9M -$123.3M
YoY Change -9534.62% -56.9%
Depreciation, Depletion And Amortization $7.500M $7.200M
YoY Change 20.97% -3.46%
Cash From Operating Activities -$110.3M -$98.84M
YoY Change 37.56% 37.76%
INVESTING ACTIVITIES
Capital Expenditures $9.858M $8.454M
YoY Change 14.76% 57.02%
Acquisitions
YoY Change
Other Investing Activities $97.98M $167.1M
YoY Change -47.46% 35.51%
Cash From Investing Activities $88.12M $158.6M
YoY Change -50.46% 34.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -633.0K 4.745M
YoY Change 2010.0% -98.33%
NET CHANGE
Cash From Operating Activities -110.3M -98.84M
Cash From Investing Activities 88.12M 158.6M
Cash From Financing Activities -633.0K 4.745M
Net Change In Cash -22.81M 64.55M
YoY Change -123.35% -80.48%
FREE CASH FLOW
Cash From Operating Activities -$110.3M -$98.84M
Capital Expenditures $9.858M $8.454M
Free Cash Flow -$120.2M -$107.3M
YoY Change 35.36% 39.11%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q4 us-gaap Stockholders Equity
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us-gaap Net Income Loss
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us-gaap Depreciation Depletion And Amortization
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us-gaap Depreciation Depletion And Amortization
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us-gaap Share Based Compensation
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us-gaap Accretion Amortization Of Discounts And Premiums Investments
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us-gaap Increase Decrease In Other Current Assets
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us-gaap Proceeds From Issuance Of Private Placement
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us-gaap Repayments Of Long Term Debt And Capital Securities
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Company and Nature of Business<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Description of Business </span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Joby Aviation, Inc. (“Joby Aviation” or the “Company”) is a vertically integrated air mobility company that is building a clean, quiet, fully-electric vertical takeoff and landing (“eVTOL”) aircraft to be used by the Company to deliver air transportation as a service. The Company is headquartered in Santa Cruz, California.</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Merger with RTP </span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On August 10, 2021 (the “Closing Date”), Reinvent Technology Partners, a Cayman Islands exempted company and special purpose acquisition company (“RTP”), completed the transactions contemplated by that certain Agreement and Plan of Merger (the “Merger Agreement”), dated as of February 23, 2021, by and among RTP, RTP Merger Sub Inc., a Delaware corporation and wholly-owned subsidiary of RTP (“RTP Merger Sub”), and Joby Aero, Inc., a Delaware corporation (“Legacy Joby”). On the Closing Date, RTP was domesticated as a Delaware corporation, Merger Sub merged with and into Legacy Joby and the separate corporate existence of Merger Sub ceased (the “Merger”), and Legacy Joby survived as a wholly-owned subsidiary of RTP, which changed its name to Joby Aviation, Inc.</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In connection with the execution of the Merger Agreement, RTP entered into separate subscription agreements with a number of investors (each a “PIPE Investor”), pursuant to which the PIPE Investors agreed to purchase, and RTP agreed to sell to the PIPE Investors, shares of Common Stock, in a private placement (“PIPE Financing”). The PIPE Financing closed substantially concurrently with the consummation of the Merger.</span></div>The Merger, together with the other transactions described in the Merger Agreement and the PIPE Financing, are referred to herein as the (“Reverse Recapitalization”). The number of Legacy Joby common shares and redeemable convertible preferred shares for all periods prior to the Closing Date have been retrospectively increased using the exchange ratio that was established in accordance with the Merger Agreement. Please refer to Note 3, “Reverse Recapitalization,” in the Company’s annual report on Form 10-K for the year ended December 31, 2023.
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CY2024Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
3592000 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
2534000 usd
CY2024Q2 us-gaap Deferred Credits And Other Liabilities Current
DeferredCreditsAndOtherLiabilitiesCurrent
1469000 usd
CY2023Q4 us-gaap Deferred Credits And Other Liabilities Current
DeferredCreditsAndOtherLiabilitiesCurrent
3633000 usd
CY2024Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
4436000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3995000 usd
CY2024Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
33144000 usd
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
37818000 usd
CY2024Q2 us-gaap Purchase Obligation
PurchaseObligation
13000000 usd
CY2021Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
1 shares
CY2024Q2 joby Class Of Warrants Or Right Exercised
ClassOfWarrantsOrRightExercised
0 shares
joby Class Of Warrants Or Right Exercised
ClassOfWarrantsOrRightExercised
0 shares
CY2024Q2 joby Earnout Shares Vested
EarnoutSharesVested
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7630
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7530
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0433
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0390
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P7Y1M9D
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P7Y7M9D
CY2022Q4 joby Class Of Warrant Or Right Number Of Tranches
ClassOfWarrantOrRightNumberOfTranches
2 tranche
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
28370000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
25222000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
55387000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
42480000 usd
CY2024Q2 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
3900000 usd
CY2023Q4 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
3800000 usd
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-123292000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-286079000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-217879000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-399472000 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
689324227 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
689324227 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
636679165 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
636679165 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
685536805 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
685536805 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
621018919 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
621018919 shares
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.18
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.18
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.45
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.45
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.32
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.32
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.64
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.64
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
87511532 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
77795084 shares
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
FilingSummary.xml Edgar Link unprocessable
0001819848-24-000372-index-headers.html Edgar Link pending
0001819848-24-000372-index.html Edgar Link pending
0001819848-24-000372.txt Edgar Link pending
0001819848-24-000372-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
joby-20240630.htm Edgar Link pending
joby-20240630.xsd Edgar Link pending
joby-20240630xexx311.htm Edgar Link pending
joby-20240630xexx312.htm Edgar Link pending
joby-20240630xexx321.htm Edgar Link pending
joby-20240630xexx322.htm Edgar Link pending
MetaLinks.json Edgar Link pending
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joby-20240630_cal.xml Edgar Link unprocessable
joby-20240630_def.xml Edgar Link unprocessable
joby-20240630_htm.xml Edgar Link completed
joby-20240630_lab.xml Edgar Link unprocessable
joby-20240630_pre.xml Edgar Link unprocessable
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report.css Edgar Link pending
Show.js Edgar Link pending