CNBC’s Phil LeBeau with JoeBen Bevirt, Joby Aviation CEO, join 'Money Movers' to discuss company earnings after reporting wider-than-expected loss for Q2, FAA certification timing and U.S. commercialization and more.

Joby Aviation's shares declined after the company reported a wider-than-expected loss for the quarter. Despite the financial setback, the CEO highlighted a significant milestone: the completion of structural testing for the airframe of its first aircraft intended for FAA certification flights. The aircraft is now moving into final assembly, with Joby-piloted flights planned later in the year and FAA certification flights expected early next year. 

The CEO emphasized that these upcoming TIA flights represent the final step in the certification process, following a decade of collaboration with the FAA. While commercial operations are initially planned for the Middle East, Joby is optimistic about starting U.S. commercial flights as early as next year, citing supportive engagement from U.S. government agencies.

Joby Aviation CEO on Q2 earnings loss and U.S. commercialization

Back, Joby Aviation more than doubling this year, but shares falling this morning after reporting a wider than expected loss. For more on the quarter, let's get to our Phil LeBeau, alongside the CEO of Joby. Morning, Phil. Good morning, Carl and Joben Bevere. Thank you for joining us from Joby's facilities out in California today. I want to start with the main question I think all investors in Joby have right now. Will you get to certification, final certification from the FAA this year, or is it more realistic for investors to expect it next year? Hey, Phil, it's great to be with you, and I'm so thrilled. Yesterday, we announced one of the most important milestones in the company's history, and that is that the airframe for our first aircraft that will go into FAA certification flights, TIA flights, has completed structural testing and is going into final assembly. That aircraft will begin Joby piloted flights later this year and FAA flights early next year. Those TIA flights are the final step in the certification process, and so this really demonstrates that all of the pieces of the Joby ecosystem have really delivered in an incredible way. This builds on 10 years of work with the FAA, building the certification basis, all the rules, all the test plans, and then additionally all the work that Joby has done to mature its manufacturing systems and be able to build FAA-conforming aircraft. So we're really excited to be in the final stages of the certification journey and getting ready for TIA flight tests early next year. So if you've got those flights early next year, certification may be by mid-year if things go well and they don't come back to you and say there need to be some modifications. Realistically, given the fact that you're going to plan on starting likely commercial flights in the Middle East, realistically, when can we expect to see a Joby eVTOL flying here in the United States commercially? I think that's one of the really exciting things about the lean-in that we've seen from President Trump and the administration, from the DOT and from the FAA, is that we see opportunities to potentially pull U.S. operations earlier and potentially into next year and we're really, really excited about that.

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Breakdown