Investors are keeping a close eye on Joby Aviation (NASDAQ:JOBY) stock ahead of the company’s fourth-quarter earnings call next Wednesday, Feb. 21. The aspiring air taxi company is expected to report its first-ever revenue in its upcoming financial report, the result of services related to its government directed flights, which are valued at around $163 million.
What do you need to know about Joby before its landmark earnings call?
Well, as Joby nears the completion of the Federal Aviation Administration (FAA) approval process, it seems investors may start to take a closer look at the high flyer. Indeed, it seems the Santa Cruz-based company has a new certification to announce every week.
Currently, Joby is close to completing the third of five phases of approval needed from the FAA. Phase four is expected to involve scrutinized analysis and testing of its air taxi’s components and electrical systems.
Joby recently signed a deal with Dubai, granting the company the exclusive right to operate its aircraft there for the next six years. Just yesterday, Feb. 12, Joby announced it inked a deal with the United Arab Emirates, which, assuming Joby bypasses its regulatory hurdles, means the UAE will have the first functioning air taxi service in the world.
If you recall, back in September, the company even began the construction of an aircraft production facility in Ohio. In November, Joby became the first business to fly an air taxi in New York City.
Investors Quiet on JOBY Stock Ahead of Earnings
Despite the anticipation surrounding its recent string of headlines, JOBY stock hasn’t seem to have benefitted from the company’s achievements, at least lately.
Indeed, JOBY is down over 5% today for essentially no reason. This has pushed JOBY into the red for the year, down 3.2% year-to-date. That said, the stock is up 39% over the past year, climbing to almost $6 per share.
On the date of publication, Shrey Dua did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
