JOBY - Earnings call transcript Q3 2021

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good afternoon, and thank you for holding. My name is John and I will be your conference operator today. Welcome to Joby Aviation Third Quarter 2021 Conference Call. At this time, all participants are in a listen-only mode.

As a reminder, today's call is being recorded and replay of the call will be available on the Investor Relations section of the Company's website. of events discussion statements and expectation, intent. some statements will of that and future regarding financial note the today Company's include beliefs, Please performance, and involve based results actual differ materially or current These could expressed to on those statements uncertainties that are expectations forward-looking and implied. risks from and cause management's

included which Company's disclaimer detailed SEC statements and of the directly comparable or measure does Company's will discussion the and today's website this contained at include revise to most For references The obligation to this to This with jobyavaiation.com. which today's financial the is in these more letter. measure uncertainties, update please the the reference assume not also shareholder made of call safe posted harbor measures, are a filings risks a of refer letter, non-GAAP in is is shareholder non-GAAP any adjusted this Company financial to only the reconciliation to date the in call included the call them. forward-looking EBITDA, GAAP as -- the and of ir. Company's on

from call Chief Officer, Matthew are hand you call up call Bevirt, may Sharrah, questions. will JoeBen management Bevirt, for I Executive prepared and Officer. over Founder now Mr. Field, the will Executive and Chairman After proceed. Financial Bevirt. the open today Paul Chief to the the we On remarks, to Mr. analysts

Joeben Bevirt

for quarterly us as call Thank Company. you, afternoon, thank Joby for a Operator. Good first 's and joining everyone public you

a incredibly time for for up listed share the who our recognize of with deep Joby men sustainable transportation I'd to to world's world. we acknowledging technologies, that potential and decade what over to entire takeoff develop engineers together mind, progress team I by this and and last reality. of has a With air at Day, make those prosperity. number And to Company core speak of in to achieved I'm the was journey the a that developed commitment specifically, dream vehicles life. is brought XX our first had vision belief the and on for with proud than planet. that X have accounts I sector's day that back JOBY of U.S. but in propulsion protect Forest members global and aviation the figure. Veterans our opportunity to vertical one the and more years X the have start the all in to impact would incredible role today to As cause. to Team responsibility the of peace like efficient, of in women team contributed Joby to that our strive like contributions sense as to you I'm excited Redwood California, safe, a and the vertically bring Growing I'd I emission, emissions planet. of come would the is that total to And an built in helping need this and founded Today, electric carbon landing play to a ago saw XXXX a almost the Company technologies make to of we combined, electric X% significant What times integrated the

a the been low we we new for without and taking in build had In As flying result most noise of isn't shy still and challenges the We actuators, GX ourselves, existing more We things and XXXXth packs, any battery of the and full-scale other first This and eVTOL harder was test from. motors basis to couple XX EV, of our propellers. in was I'd them. to of just but and in the and months and momentum early to days components. approach last quarter wasn't to flight inverters, like it that certification solve our helped the sensors, approach became the Air Company and these there to took essay management passed them critical ground philosophy like Force XXXX. an chain is operating longer, the supply design and that work and noise speed, have airworthiness Company And us other be aircraft leading the Combining of also affordable we on ourselves that until to approach our iterate very on it low market. more allowed eVTOL this This became configuration believe and first technology new This highly safety, a away what since on status. more At alone, the signature, integrated preconceived maintained at rapidly than third we share examples. for industry. performance U.S. to the Joby, year, us sign aircraft economics. granted our best aircraft ideas is this capable design. fast a we've believe this we makes with landed has at edge built hard position a this Taking

First, the propulsion NASA part at last them order an saw 's aircraft to public see range decade. mobile we to Air part low footprint bringing the our the a with with will it. the became fundamental The National to Their of action. as in an closer full-scale technology. base acoustics noise the on first our the in first where Advanced remote acceptance closely electric testing to independent service to was let projects new Delivering of program aircraft our Mobility bringing in this noise lab really NASA and of Company low hear aircraft opportunity had over supporting testing our to is team aircraft. quite footprint fly in work our opportunity want Campaign. But NASA electric customers We've its of to play measure important X-week analysis a

that action, examples noise our in-depth sound let like, hear in actually really way to first something that people the Company leading aircrafts publish what low our films we also of footprint so Joby on. is And separate X became the releasing

the to flight a accomplish again eVTOL a technology charge validated flew be a Joby that flight Second, our yet to many we I'd few can note, thought On and thank during single on an to the XX-minute hovering longest quarter, miles proving design, to date, like XXX things X-hour that we believe of what impossible. aircraft you. say

reaching and First, their incredible thank for for you to remarkable goals. team our passion these

all and to new bring and Toyota Next, who who to of a of transportation on mode this daily partners, manufacturing in service. have to are on joined you you, our about our and journey lives our thank our the investors, you change on leaning really of us thank basis. And a commercialization Uber,

as at As sustainably bringing possible. the committed revolution to as this to I mentioned life outset, we're

talk Framework in see the And and on Glasgow, Infrastructure With about passing of JOBY success hand the into detail. JOBY pleased it Paul as over the in facilities, And to to of lay so president governments law. [Indiscernible]. recently helped see to all for Advanced on in including groundwork that with meeting going say committed we've Coordination Bipartisan House start I'm and for our our progress the sector. greater to which to that, in both energy I'll Leadership Air signed Act, the Mobility to pleased to Operating to we're lean really renewable COPXX sourcing sustainability,

Paul Sharrah

Thanks, JB.

test wide of have behind As flights us across aircraft. prototype now more X,XXX a range JB, than we

where isn't as engineering the aircraft is testing It's customers. to approach outset vehicle experience focus experience to these drive showing the them in operate our way commercialize initial so them, instead service aircraft flywheel allows safety from that the in and a This believe launch. the and to now And ourselves, builds Company own operating commercialization. can better but It right a improvements to delivering the control to shifting worth of a to us certification our directly contrast beyond our we the overtime. sell the our passenger

a engineering, path. better with One that business experience to better delivers Just ultimately as us. a for a and harder is valuable more riders and this

of X. look addition Scaling battery drop we've business ahead key Certifying we X required coming commercial we identified that manufacturing, our for years. our began aircraft frame parts X. operations. are in testing up aircraft, strike, the spar our to and proving individual work execute the lightning On here, Preparing across our as load-testing, described, also for systems X. are bird our X just cabin long-term certification, tails, JB customers. capabilities on from testing, plan. including Those our the These goals and to As goals ingredients and aircraft production will strike

environment pilot of production aircraft facilities where All or our at designed successfully machine. establishing systems or manufacturing also integrated and high-risk production testing as is of is an cockpit it aircraft. inspections similar continue part at important on this a of installed composite unit. our powertrain track computer our our which system We completed flight and On marks eventual structure production key we're of of site on in We test and we manufacturing, the made saw is we initial airframe toward conformity the another integrated checking inspection. our in the California. step evaluation all steps control re-creation for a delivered lab-based the goal, past the construction Joby. in in first electronic FAA a delivering line delivered inspection the campaign electric breaking week really an defined Marina, propulsion make standards, goal began panel, at a fiber important second by required testing. the our FAA San lab, And first for toward of progress what to towards our of entire our AFP FAA. the designs with to Progress established automated site initial are maturity this designee The of according focus it's it with is but news, Carlos And type representative to design single placement schedule. first properties This start second site. certification our our We on our EPU and

us as rotating process, production from aircraft. built carbon fiber our to our positioner producing components well representative layout complex allows also a We for increasingly parts deliver that as

to certification achieving submitting required With AFP the carrier Stage it's air the entering NASA, across our July, the believe XXX is now a the by XXX second we sufficient of volumes in also with fly the we toward that X-stage for our process. work aircraft. second took and application addition we Part the FAA, capacity Part U.S. to our we have revenue This pilot acoustic issued is X passengers entered the machine, process. step support plant in The for and stage installation recently certification. Since key our first third to goal, On of

work important We in on with aviation, complement the of sustainability, include said XXXX. And Airways Support we've we'll for place Signature very the off end expect obviously Flight that hydrogen that the for ensure kicked we've credits flight earlier we by important There's depth have and green behind JetBlue markets JB key the milestones full certification pleased I'm to the to what work with by these accomplishments key the and using X hard propulsion powered quarter, as highlights. more our share and every and goals a lot each these framework. But to electric, achieved most of intend carbon technologies.

we same Intel, have worked our the X private to it sign merger for with success extended agreed investors reason. Technology over build who Company, Joby I'll and now partners myself, a to Toyota, hand the up public chose to long-term shares taking term. we purposely to As all And lasting long supported years subject process. understood Capricorn, to long-term and approach to of we're along We with our JB our financials. the is with and Reinvent Matt as APC, take demonstrable over think They, vision. 's Uber, Joby agreements a the of part discuss this to lock-up Partners

Matthew Field

Thank everyone. good afternoon, you, Paul. And

million engineering area business, also Our $XX.X results quarterly share. these conclusion foundation the certification, posted strong a The and efforts. commercialization. reflected $X.XX quarter, loss support each and successful manufacturing has each in progress financial RTP August of to our of third in key reflect In quarter provided in with third and of is a us or merger our net with per our results of we

an Our private public million our $X quarterly reflecting charge and the earn-out revaluation expenses and million of from shares $XX.X RTP results liabilities, expense included namely to related derivative transaction warrants. our a and with merger

ongoing reporting operating performance. our For of

EBITDA net loss personnel, which last totaled a We excludes in one-time costs stock-based higher growth well ongoing in certification accounting negative reference a as is in reflects other the costs, operations, as initial costs supporting million. these will lower measure EBITDA, method which as investments the third for primarily unrelated and core Adjusted $XX.X manufacturing that development accruals, million adjusted public to operations, quarter summer and investment. and as for with the period adjusted also scaling including quarter our to as well same compensation was activities, administrative equity The non-GAAP bio early $X.X the commercialization, EBITDA support compared year Company. third

Our leadership end certification, market. quarter total affordable, of air the the taxi position Uber's expenditures, at of Capital of year from staffing an the quarter. the including our of RTP the XX% totaled paid to Around acquisitions. positive nearly Joby the first August, sustainable the Transaction commitment other of related for service X,XXX totaled received to months about our Cash the merger was flow in reflects $XXX employees directly are $XX RTP. the costs merger employees reflecting merger $X.X our partly gross with maintain and sufficiently, million million Aggregate in in in bringing to to resource by aircraft. investment in conclusion used these proceeds million, development, building involved cash by operations, of X offset and billion, including $XX our and our approximately successful third first

believe ask the Our question-and-answer of Operator participants the our we quarter commercial move now end please remarks support marketable is securities $X.X you instruct the to through prepared billion, cash concludes will how to totaled initial third This operations. at would sufficient us and we and to on questions? to session. which

Operator

confirmation we session. tone Instructions]. indicate the time, a question queue. line question-and-answer be [Operator this conducting your that A At in Matt. will [Operator Instructions]. is you, Thank will

speaker questions. using please, maybe for before moment, equipment, handset participants to up your it For the keys. star we necessary pick One pressing poll while

line question Christine with of comes the Our Morgan first Liwag from Stanley.

with may You proceed question. your

Christine Liwag

Good afternoon, your successful guys dispatch. and congratulations on

Matthew Field

Christine. Thanks,

Christine Liwag

to XXXX billion actions in and the certification that your guys what you FAA short-term can ensure balance that aircraft sheet, about $X.X potentially even take investments timeline? have of accelerate that by Now you with timeline cash on meet developments the you or

Matthew Field

question, the for Thanks Christine.

I that with the of testing announced think outlet confirmatory I the that FAA set today the the even progress the at beginnings of call

Paul Sharrah

to think important ourselves beginning for this we've prepare really week. certificate a rigorous And sort effort. of done date demonstrates work this that for certification our really the milestone That's to process. I sort of

be components of a why one One of is that the we're show suppliers aircraft. more at right of the because focused create it allows spec Company off-the-shelf important possible us, we that's also to very have think not on that we're for the -- controlling to And time certification for and into with the but a that reasons of process. just relying upon is things design as been performance development aircraft not very parts more the that the might go components, the up into

the really we drive that timeframe both we that, us manufacturing in-house, able of in be more the controlling by to gives design outlined. certification So successfully to confidence think greater that and that and process to program going are certification manage we

addition, In

Christine Liwag

Paul. Thanks,

Paul Sharrah

certification good feel we've team the the We developed that on side. about really

the that are we're execute have mentioned, a work thousand lot to a fundamentally, almost XX% now, on engineering, team documentation. hard tests folks of than hard necessary. And more the on that And process is certification are to plan a the work really related on doing is and across But work. certification we work is this directly well-positioned the those and think Matt team of development. work hard we that's that hardware on on As

Christine Liwag

what you you as other these maintain and suppliers, add be do mentioned? important certification Are "aerofy" Thanks seen some to you keep so to could there GXXXX with the we've derisk partner would you Paul, Avionics in-house Garmin plan opportunities versus that to experienced that that control and of think and you aircraft.

Paul Sharrah

Thanks again.

of going component that So with for that of our very I working I to We've the also And into work to aircraft. the partner avionics we're fiber outlined. that do be probably necessary are a fiber Garmin the going to to with the work in-house some of already big think the carbon suppliers that versus to also bias and be structure partnering that's fiber aircraft. We're for more they the carbon get announced carbon do with going been system be excited will continue FAA. as the the some validation supply Toray resin certified on to reasons that the that's helping using obviously

time to certainly initial of on Now, initial that to going we the about component to more to our and the do other likely design deliver of instead be think manufacturing, that. as manufacturing they'll be control is that we manufacture. that go it's I to to over set suppliers think we've bias going aerospace really designed. But and maintain folks a actually

Christine Liwag

And already some in Great, you milestones very then you've provided quarter. helpful. the accomplished

or certification? what can we so track going that key are So progress should your track milestones we forward, FAA follow for

Paul Sharrah

on briefing a to DDA the runs of leads month. the going this who level policy process XXth topic holding our Greg it. the in actually who be certification of and So [Indiscernible] program, our both the certification side, team this on Joby on through where Bowles, we're just high in sits walking are

next with that the And compliance to means about -- think careful what FAA the call on So are folks are. GX. we encourage it process about as of like and you the that's I undergird other But that the be helpful of the and we looks think on really it really a the where certainly line over year, framing the I join work event. it'll that

really be compliance those, process already, approve are the sub-components made down I march and of and described means the progressive the testing, is wrapping testing really as the off obviously within Then progress of means certification already define up right at verification second to of that of And to beginning the are next aircraft. testing good components. some the essentially half going all the we've that effort the to components broad part each to call for begin we'll closely and of on the working that getting right of doing verification specifications front-end, of across we be these that set year. test work of effort. the FAA sign what and So that the with What that

Christine Liwag

What profile back and your and this, from meaningful Great. both last question before discuss getting the And learn with expect partnership if NASA? how I ask sides queue. noise this Can -- the could to you is what one in -- do study? do partnership

Joeben Bevirt

Christine. you, Thank

quarter. team our again, And we've hear much our this you The on So work opportunity the before key that since mine I The the to talked you our in-person hinge work released made -- really building the supporting for And a on videos as that a go, weeks test and whole the our done both we're our about X. flight cities and NASA for we've a testing huge our both to has an NASA It's we're at team flight we've ability at want and acoustics to will with the with at spending forward for over Company. key both aircraft, quiet We've permitting series our soon. of and base. where look customers skyport of acoustics is to -- aircraft grateful that the industry. is progress for see thank amazing success to in success, having country. qualitatively us of quantitatively with a to been and of to and -- they our each ours take a aircraft focus We pride the the doing step new day hover incredibly supporting of foundation acoustics. point past in over demonstrate so across them and of few both a

Christine Liwag

Thank you very guys. much,

Paul Sharrah

Thanks, Christine.

Operator

question. of next with Our your Deutsche line question the Edison you Bank, comes from Yu proceed may with

Edison Yu

you I following on integration. X. have questions. the Thank for taking up just our vertical

that XX perspective. did than chain now supply even it supply a would ago, chain from X I years just very or the curious looks years imagine ago. Just different

question. has the I guess, it's the provided? now vertical scale Is reliant something I better supply on there's any bit. you may but guess be leverage that others to that better Some but competitive Obviously, bottlenecks. looking that conversely, of maybe And on the worse. quite vehicles very that some integration maybe then that lot hinder to of apples-to-apples, Is you there a more a maybe electric a that are fragile potential forward some help -- hinder will not changed these have ground would and right that Second of advantage kind think -- seems chains?

Is there you've and few that about vocal outside running been by sell core On you've very be that maybe just network just outside directly a maybe of maybe of to market the the do that something U.S. to been it easier to these areas? vehicles the the I'm considered some quite network, approached go-to-market, seems operator. in. Thanks. curious Europe, the or the be -- markets

Paul Sharrah

lot question, Edison for Yu. the a Thanks

how like and particularly So ex-U.S. integration on X. really service, then building thinking we're supply pieces; it and geographies. on in the sounds two out X. vertical about chain,

way. So especially don't focus the the our talking service already going take second we've U.S., Instead, those relationship the a really where said, we're in end to That the think operated not basically commercialization end important as delivering customers customers. contractor-on-contractor with first. operating to that tighter our on to, we're in we going in say one are us, their the as to when service directly at like about to model. delivering to customer customers where same for possible. think maintain bias, there be is That's that It's on why I DOD, been aircrafts be we the behalf

of directly may but to outside vertical customers, of different delivering flavors U.S., we're maybe or that integration, service the end delivering service be not commercializing indirectly. it about think the we as think I So we're there the

strategic way we're we U.S., and the the in make but going sort partnership which And is to going generation in else markets for about as that commercialize be Uber. great we this, very with is someone as look on way acting here announcements But front-end bit with geography to in be U.S. that there And No, the We actually the have whom. Obviously therefore, right may we those the think any what I demand think service. went of to service. to our feel front, about be that to other we front-end fairly commercialize the a outside the of the little flavor great may think different. that's different. partners of don't

Joeben Bevirt

So, integration incredible on and notion the of vehicles. that's question work vertical we can your around pull been in automotive the some ultra of on done

One important of and past service the the progress really our battery service life. so our life. the that's of And our the of been pleased battery and areas decade made with over economics aircraft on is we're

As very cycles battery safety packs. lab reliability for flight that to that high-quality cells. for also of the our automotive aspect we the been critical cells and are more XX,XXX in battery a able is we've demonstrate talked grade battery than our These about, and -- quality

really now. we've has talked incredibly vehicle decade is I packs more a think and battery for experienced as been also electric battery than our about team high-performance on working

just about feel past battery we're the we has supply really battery strong batteries the really And chain that specific over grateful delivered energy the substantial supply so chain very decades. improvements on we're and for -- -- the the

different our in substantially performance components. aircraft not aircraft build was in across integration areas is an whole when about way unprecedented area results which the that's us bunch low you really It's And one the a are more dimensions. signature. using a acoustic optimize components this a our to for vertical aircraft that of the ability drives allowed to of that off-the-shelf second our you asked and optimize way that possible the The

something about the of talked across I've As wop" dimensions really X. wind quantitatively, that range, other like of payload. important and "wop and drives that's in operating our less the also X. more and drive speed, performance X. the qualitatively It economics service; the both before, trees.

about, that aircraft Paul massive to advantage rather every hard pay the service rolls as a is revenue our in dividends, the so talked for we not fleet. believe just And is going we're but and that -- as that out begin fleet compounding every work our grows. as we're to and we door, the where making year-on-year, aircraft scale doing

where And the so made feel strong choices the about we future. about and stand excited we we so we've really are and

Edison Yu

the Appreciate Thanks. insights.

Operator

the Our with line next from question of This David. is comes Barclays.

question. your proceed You may with

David

through Hey, taking was last I guess, question. my design you or see impressive guess made to really flight to for changes time. your I it first can GX updates you've since the aircraft as you've or for might changes you flexible plan be any made to might on you things you thanks speak and the make that then go the video any process?

Joeben Bevirt

Yeah. Thank you.

that we're for the way is performing, designed pleased improvements the making So incredibly substantially -- are aircraft with manufacture and ability. around the we're

we're moment. for so on with And are we're focused very and the at We're -- manufacturer the for manufacturing, really areas performance. adjustments the the those certification making and scale manufacturing, and the pleased scaling very, up

David

then with organization would capabilities. guess such lot large priorities. risks on analyst, piece. some Toyota to a a to obviously the and But I does of hopefully incredible seem keep have not to and partnership the Great vertical land some integration the have has It

that backburner why So that support is risk there you maybe little and no engineering bit at clarify jumped relationship that and a when think on from get of you you some need kind Toyota. the design point

Joeben Bevirt

have amazing think our They're also more all very the and around is program spectacular we need we look questions operations for we us. strong we better have improve Toyota. one at We just as world as And for more our the the progresses building as manufacturing question when to imagined the our in more huge, their outset. and incredible of economics look reliability. Toyota it's Toyota partner better vertical known leaning far we the contributions that aircraft the with our to operating And integration around love across and and we the been quality systems service, the reliability. Yeah. suits. of -- operate massive is actually complex areas with

certainly demonstrating are partner as day that out. So we the in they best and day them see in and the world

David

more bit. fluid the the part due a I the about operating I'm you a are little If Matt. to Maybe out I'm how expenses to reading, accelerated guessing bit large in just certification squeeze I for expect building your expenses in to seems like process. could assuming that is little continue? and staff talk It trend a one that Is from guess.

Matthew Field

question. I Yeah, for the did thanks

it are person We seeing the such to makes the Company. frugal our easy. grow to say our very in we're certification deliver do you're progress fairly with because job humbled position in leading industry. to committed maintaining people the I'm higher team a But expenses I And finance engineering. reflect to work as strong prudent my

As can as commercialization, then where our expect side. think change seeing present you're you're grow kind also we to investment hourly the up And manufacturing advanced in of headcount results, into we those it's you on ramp seeing we prudent.

team, the earlier team added example, we needed of invested elevate value a than great ahead of example tremendous in to commercialization they've probably statement on thinking And bringing even Uber would otherwise. phases. a is the great have for So the what's next in

David

on congrats first the and quarter. again, Thanks

Matthew Field

David. Thanks,

Operator

Bank Our Epstein Ron comes of question next of from with America. the line

You may question. proceed your with

Ron Epstein

And guys. thanks evening, for Yeah. the Good question.

been vertically really the beat on here think anybody worked, -- of vertical don't where vertical aircraft mean, in never case quickly. has Just dead a mean aerospace but to can't successfully integrated. building I has I mean integration integration, a I horse ever. I

why me different? can So help if you through your think

Paul Sharrah

Hello.

the the for you and thanks call. appreciate of question I First all, joining

of there components. new existing years sense. the makes that for lot X of vertical Because integration just wasn't a in of now ago, vehicle, early a many category as chain EV, and is brand there view days XX isn't these an or supply ground of Our in

had the figure out design and then them build to how we So and energy the to ourselves. to invest time

that particularly result trying any go better tricky, Tesla over [Indiscernible] that's and a for of there supplier packs fewer end inside IP the for competitive days, the delivers to far electric it similar companies, aircraft actually motors super electric an might lot our came off-the-shelf. Because important But applications, for So for anyone apt. base, to to than instead we out long Company. term. think basically an have is that being vehicle to be sufficiently a to of for that that very of components from automotive examples things wasn't of early really cobble I that find anyone for we wasn't the performing application. advantage possible, together to In go but know-how that here the there analogy one are battery go it's think in able

component of in very catch to both they a play up it And aviation, the as the aircraft set. are basically the to been and to think So and between similar. the say, has I had commoditized it and other possible, had EV, Company. early But we've pieces folks you vehicles far market. the just get at these the was, coupling focused might really on to for strategy It's never do parity avionics there I XX at days launch became than -- think mean, you automotive the around, able than think in now something right has And longer-term the out performance then just maturity have the for and only begin ability to design to I just large short-term that companies the later on of after expected. designers turbine into have to largely finally themselves. And slower build the years tight Model saw designers. deliver you're it's the stages, the been I it's question seeing your S We Supplier

of aircraft integration scale about really effectively able and that to vertical way lots talking to a to only product brand have rightly the that with new we're to to think components is be overtime. where together, integrated deliver a on we Here brand-new spec be are

Ron Epstein

Got may, for it. I then you one that. Thank follow-up. Got And it. just if last

Your that flight been [Indiscernible] regime transition how service. into handling goes the actual flight from to you controls going any for tricky just your particularly vehicle historically, that's aircraft. I'm to I wondering through guys horizontal that, carry mean are on That's vehicle. the a vertical

Joeben Bevirt

Ron. you, Thank

which So also one incredibly is very, we we're an robust which proud built the this aircraft a feel of controls, a entire it's is of very, hover. configuration, we have It's lot of And strong we both improves, about. the in aircraft the around know-how, inherent to envelope. very is aircraft. efficient, and lot performant of our IP transition through very very areas very that And design and of the it's

Ron Epstein

you. Okay, thank

Operator

this end session, At like the to now turn for question-and-answer call the any of have we will time, JoeBen reached the I and over to back remarks. closing

Joeben Bevirt

especially across Time Thank of us fantastic be November to the you at areas as hope the so joining the much. different you of with Eastern for you'll Thanks business, all next we briefing. on pleased join today. so this pm certification. Paul that so interest this certification all you and really so We're And much. all of grateful support our mentioned, XXth able Really exciting and Tuesday, a appreciate evening. hope new have quarter of us we all market, in We're for Standard progress X:XX

Operator

call. Thank today's you for joining

on ir. As a Joby's reminder, jobyaviation.com. Investor find can website, you release today's

Joby Aviation (JOBY) 12 Nov 212021 Q3 Earnings call transcript