Has Joby Aviation Won the Air Taxi Race?
Joby is making forward progress, but Archer Aviation isn't far behind.
Overview
Can we declare a winner in the air taxi race yet? In a competition led by innovators Archer Aviation (NYSE: ACHR) and Joby Aviation (NYSE: JOBY), there isn't a clear champion yet, but Joby appears to have the lead. It pulled ahead of Archer in reaching the final stage of Federal Aviation Administration (FAA) certification, but both companies still have plans to begin U.S. operations under a federal pilot program this year.
Shares of Joby have plummeted nearly 50% over the past year. The company has made progress in increasing revenue while it continues to pursue a viable commercial air taxi business. Of the company's nearly $39 million in revenue in the second quarter of 2026, roughly $36 million came entirely from its subsidiary, Blade. Joby also recently announced it'll acquire the defense-tech firm Resonant Sciences in a move that'll substantially boost revenue.
Details
The company has an enviable cash position of approximately $2.3 billion. That's an important runway for a business with high cash burn and a core product that hasn't officially launched.
Source
Originally published at www.fool.com.