Joby Aviation Inc
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
JOBY$5.92-4.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
(In thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities | |||
| Net loss | $(608,034) | $(513,050) | $(258,043) |
| Reconciliation of net loss to net cash used in operating activities: | |||
| Depreciation and amortization expense | 35,572 | 30,493 | 23,995 |
| Stock-based compensation expense | 104,446 | 93,636 | 69,072 |
| (Gain)/loss from change in the fair value of warrants and earnout shares | 53,973 | 86,378 | (98,002) |
| Income from equity method investment | — | — | (19,463) |
| Net accretion and amortization of investments in marketable debt securities | (15,821) | (20,202) | (5,237) |
| Changes in operating assets and liabilities | |||
| Other receivables and prepaid expenses and other current assets | (11,803) | (573) | (1,823) |
| Other non-current assets | (545) | 309 | 20,016 |
| Accounts payable and accrued and other liabilities | 6,116 | 6,442 | 10,884 |
| Non-current liabilities | (171) | 2,736 | 22,676 |
| Net cash used in operating activities | (436,267) | (313,831) | (235,925) |
| Cash flows from investing activities | |||
| Purchase of marketable securities | (603,777) | (809,978) | (1,358,953) |
| Proceeds from sales and maturities of marketable securities | 715,157 | 920,879 | 788,761 |
| Purchases of property and equipment | (40,617) | (30,597) | (54,890) |
| Acquisitions, net of cash | — | — | (5,707) |
| Net cash provided by (used in) investing activities | 70,763 | 80,304 | (630,789) |
| Cash flows from financing activities | |||
| Underwritten public offering gross proceeds | 232,300 | — | — |
| Underwritten public offering commission and offering expenses | (10,446) | — | — |
| At-the-market public offering gross proceeds | 133,019 | — | — |
| At-the-market public offering commission and offering expenses | (4,183) | — | — |
| Proceeds from issuance of common stock in private placement, net | — | 280,110 | 60,060 |
| Proceeds from the issuance of common stock under the Employee Stock Purchase Plan | 11,200 | 6,918 | — |
| Proceeds from the exercise of stock options and warrants issuance | 1,659 | 2,055 | 1,437 |
| Repayments of tenant improvement loan and obligations under finance lease | (2,435) | (844) | (1,041) |
| Net cash provided by financing activities | 361,114 | 288,239 | 60,456 |
| Net change in cash, cash equivalents and restricted cash | (4,390) | 54,712 | (806,258) |
| Cash, cash equivalents and restricted cash, at the beginning of the year | 204,779 | 150,067 | 956,325 |
| Cash, cash equivalents and restricted cash, at the end of the year | $200,389 | $204,779 | $150,067 |
| Reconciliation of cash, cash equivalents and restricted cash to consolidated balance sheets | |||
| Cash and cash equivalents | $199,627 | $204,017 | $146,101 |
| Restricted cash | 762 | 762 | 3,966 |
| Cash, cash equivalents and restricted cash in consolidated balance sheets | $200,389 | $204,779 | $150,067 |
| Non-cash investing and financing activities | |||
| Unpaid property and equipment purchases | $6,536 | $1,769 | $3,553 |
| Property and equipment purchased through financing leases | $2,537 | $5,221 | $694 |
| Right-of-use assets acquired through operating leases | $5,115 | $5,652 | $29,202 |
| Net non-cash assets acquired | $9,472 | $— | $— |
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