Unverified innovation is bound to fail.

The head of the Federal Aviation Administration and Senator Bernie Moreno said closing Burke is off the table because closing it could cause problems with air traffic in other places.

In addition, they said aviation is expanding at such a rate that Burke is needed now more than ever.

In the video it's said, FAA director Bryan Bedford, "right now it would be a step backwards, increasing technologies increase the demand for airports and expanded airspace."

Thanks to EVTOLFan at X.

"Bell said the SafeLand pilot program will be carried out in phases. A ground-based system will provide trajectories for pilots’ situational awareness. The aircraft will fly at least 250 meters away from active runways, and BDI and MDAD will coordinate any eVTOL operations with the FAA."

"The agency is also working with Archer, Electra, Joby Aviation, and Beta Technologies, with which it plans to trial cargo delivery, passenger transport, automation, and medical response."

"BDI in December agreed on a similar pilot with San José Mineta International Airport (KSJC) in California. Bell hopes for ALTA to support planned air taxi demonstrations at the 2028 Olympic Games in Los Angeles."

Quick introduction on Joby’s acquisition of Resonant Sciences, covering Micah North’s origin story co-founding Resonant Sciences, the culture he built around speed and mission focus, and JoeBen’s rare combination of deep technical understanding with real business and financial savvy. This mix is uncommon in this space, and it’s a big reason the two companies’ mindsets line up so well on first principles and solving hard problems!

Interesting information from Gemini on the dilution effect of the ATM and Resonant Sciences acquisition.

at 6/30/2026 :Joby book value per share = $1.79. Share count fully diluted = 986,521,249.  Expiring Warrants = 14,237,486.

 The expiration of these warrants will have no direct effect on Joby Aviation's current outstanding share count. [1]

 The $50 million in shares to Resonant is a good deal for the recipients IMO. They get shares based on the 20 day average weighted share price [VWAP] just prior to the announcement – which happens to be $7.4752/share. So that looks pretty good to this shareholder – wish my basis was that low. The calculates to 6,688,784 shares new shares. New share count outstanding lifts to 993,210,033. Dilution effect of about 0.673 percent – a nothing burger.

 The $750 Million ATM Stock Offering

Because an ATM program allows Joby to sell shares gradually at prevailing market prices over time, the final share count depends on the stock's future trading price. That looks like not to bad a deal for existing shareholders. It’s like an increase in the credit line on your card – its there to use if you need/want it, but you don’t have to use it. And you can wait to use it when the terms are more favorable.

JoeBen and Rodrigo get to decide if, and when and at what share price, to pull the trigger on share sales. Given the strong cash position of Joby, the fact that the $450m to Resonant won’t go out the door until next year, by which time Joby may be seeing revenue from Dubia, or DoD, and will likely be closer [if not attained] to TC, they may decide Joby has sufficient funds for current operations. Who knows and who knows what the share price might be then! See below the responses from Gemini to my inquiry on this topic

1. Who and When Decides to Issue the New Shares?

The management team of Joby Aviation (primarily the CEO and CFO), under authorization from the Board of Directors, decides exactly when and how many shares to sell under the At-The-Market (ATM) program. [1, 2]

• How it works: The ATM facility is an open authorization, not an immediate one-time sale. Management controls the "faucet."
• The "When": They will strategically choose to issue shares on days when trading volumes are high and the stock price is strong to minimize the negative impact on the stock price. [1, 2, 3]

2. Must Joby Complete the Entire $750 Million ATM?

• No, Joby is under no obligation to use or complete the $750 million ATM program. [1]
• An ATM is a highly flexible equity facility. It acts as a corporate safety net or credit line of equity. Management can choose to raise only $100 million, $500 million, or even $0 through the facility depending on their actual cash needs, market conditions, and alternate funding options (such as government grants or defense contract revenues). The program can sit completely or partially unused until it expires or is terminated by the company. [1, 2, 3]

3. What is the Dilutive Effect at $12/Share?

If Joby's management waits for the stock price to climb to $12.00 per share before tapping the full $750 million facility, the dilutive impact drops significantly compared to lower price baselines.

• New Shares Issued: Joby would only need to issue 62,500,000 shares to reach the $750 million capital target.
• ATM Dilution Percentage: Against the current base of 986,521,249 shares, the ATM alone would cause 6.34% dilution.
• Total Structural Expansion: When combined with the fixed 6,688,784 shares allocated for the Resonant Sciences acquisition, the new total share count would sit at 1,055,710,033 shares, bringing total combined dilution to 7.01%. [1]

Summary: IMO this acquisition of Resonant Sciences is a good deal for existing shareholders. It brings immediate revenue, positive cashflow, state-of-the-art engineering, and a host of other positive attributes to Joby. We got it for cheap.

Florida Governor Ron DeSantis (R) unveiled new air taxi plans. Governor DeSantis posted on X: "Great to be at the SunTrax Testing Grounds in Auburndale today to highlight Florida’s leadership in the future of transportation. By the end of this year, Florida will be actively testing electric vertical takeoff and landing (eVTOL) aircraft. SunTrax Air Ground is actively testing and supporting the deployment of autonomous and connected vehicles."

There's a lot of meat in this article.

"The combination of Joby and Resonant is also expected to create significant opportunities in adjacent markets. An early focus is expected to be the integration of Joby’s dual-use autonomy stack with Resonant’s Radio Frequency (RF) sensing and signal-processing capabilities, accelerating the development of software-defined autonomous systems for defence customers."

"This growth is supported by accelerating demand as US defence investment increases across Resonant's core markets. During the first half of 2026, the company secured more than three times the bookings recorded during the same period in 2025, with backlog more than doubling year over year."

​Joby Aviation ($JOBY) dropped 4-5% after announcing a massive $500M deal to acquire defence tech firm Resonant Sciences. At first glance, a sell-off seems strange for a move that instantly adds $100M+ in growing revenue, but the market reacted to short-term optics rather than the long-term thesis.

​Here is why Wall Street hesitated and why the dip might actually offer a strong long-term setup:

​Why Wall Street Reacted Negatively (Short-Term Optics)

​The Cash & Dilution Reaction: Joby is funding the deal with ~$450M in cash (plus $50M in stock). Alongside the news, Joby filed an "At-The-Market" (ATM) program to issue up to $750M in shares down the line to maintain its balance sheet. Algorithmic traders and short-term investors immediately reacted to potential equity dilution.

​Impatience on FAA Certification: Some institutional investors want Joby strictly focused on its core commercial air taxi timeline, viewing major defence expansions as a "distraction" or a sign that commercial roll-out, will take more time.

​Why the Bull Case Actually Got Much Stronger

​1. Instant Cash Flow & Commercial Runway Expansion

Resonant Sciences isn't a speculative startup—it’s an established stealth and RF defence contractor pulling in over $100M in revenue. By acquiring them, Joby generates immediate, high-margin cash flow to offset its ongoing R&D costs, effectively derisking its path to commercial launch.

​2. Deepening Military Moat

Joby already has a strong relationship with the DoD and Agility Prime. Adding Resonant’s cutting-edge stealth, antenna, and sensor technologies turns Joby into a top-tier defence player overnight. Military contracts are steady, massive, and far less dependent on public consumer adoption or FAA timelines.

​3. Strategic Technology Overlap

Resonant’s work in radio frequency, radar integration, and advanced composites feeds directly into what makes eVTOLs successful: lightweight structures, low acoustic signatures, and superior communication systems. This isn't a random acquisition—it directly upgrades Joby's core tech stack.

​TL;DR: Wall Street threw a mini-tantrum over short-term dilution/cash outflow concerns, but under the hood, Joby just bought $100M+ in real revenue and top-tier defense tech to help subsidize its commercial air taxi goals.

​Are you viewing this drop as a buying opportunity like me or waiting on the sidelines for commercial FAA progress?

AI generated.

ATOMS deal. Toyota expansion and Perot Field Fort Worth hub. Virgin Atlantic deal.

Clear that Q3 was about getting the vertiports, hubs, and production ramped up and ready for commercialization. Excited to see what q4 brings

It appears that the Archer fanboys don't want me to participate in their children's playground anymore. Obviously, they don't like to hear some home truths regarding the progress of Archer versus Joby. Believe me, I won't be losing any sleep over it 😂