Air taxi developer Joby Aviation reported a third-quarter net loss of $78.9 million during its first earnings call as a publicly traded company on Thursday, but said it is a sign of progress and that it remains focused on the future.
The company, based in Santa Cruz, California, attributed the loss to “growth in engineering, certification and early manufacturing activities, as well as the revaluation of SPAC-related warrants and earn-out shares” related to its reverse merger with special purpose acquisition company Reinvent Technology Partners this summer.
