Joby Aero, Inc. Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Net Loss Per Share Attributable to Common Stockholders

Net Loss Per Share Attributable to Common Stockholders

6 Months Ended

Jun. 30, 2026

Net Loss per Share Attributable to Common Stockholders

Basic net loss per share is computed by dividing the net loss by the weighted-average number of common shares outstanding for the period. Because the Company reported a net loss for the three and six months ended June 30, 2026 and 2025, the number of shares used to calculate diluted net loss per common share is the same as the number of shares used to calculate basic net loss per common share for those periods presented because the potentially dilutive shares would have been antidilutive if included in the calculation.

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except share and per share data):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Numerator:
Net loss attributable to common stockholders	$	(245,443)	$	(324,674)	$	(355,393)	$	(407,080)
Denominator:
Weighted-average shares outstanding	969,905,441		796,798,437		956,777,375		781,936,215
Net loss per share attributable to common stockholders, basic and diluted	$	(0.25)	$	(0.41)	$	(0.37)	$	(0.52)

The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been antidilutive:


	June 30, 2026	June 30, 2025
Common stock warrants	14,237,486	28,783,033
Unvested restricted stock awards	445,997	891,993
Unvested restricted stock units	55,885,904	41,749,976
Options to purchase common stock	5,270,349	7,774,839
Unvested early exercised common stock options	533,278	885,913
If-converted common stock from 2032 Notes (1)	48,634,374	—
Total	125,007,388	80,085,754

(1) On February 2, 2026, the Company issued $690.0 million in aggregate principal amount of the 2032 Notes (Note 6). The Company applies the if-converted method in computing the effect of the 2032 Notes on diluted net loss per share attributable to common shareholders. The 2032 Notes were not included for purposes of calculating the number of diluted shares outstanding as their effect would have been anti-dilutive. In connection with the issuance of the 2032 Notes, the Company entered into the Capped Call Transactions (Note 9), which were not included for purposes of calculating the number of diluted shares outstanding as their effect would have been anti-dilutive.