Joby Outpaces Archer on FAA Certification and Revenue, Analysis Shows

Shares of leading electric vertical take-off and landing (eVTOL) developers Joby Aviation (JOBY) and Archer Aviation (ACHR) both rallied sharply on August 4, but a deeper analysis reveals a widening gap in their paths to commercial operation. Joby appears to hold a substantial lead, having reached the final stage of Federal Aviation Administration (FAA) certification and generating significantly more revenue than its rival.

The Certification Race

The most critical hurdle for any eVTOL company is achieving FAA type certification, which is required to operate commercially. According to an Investing.com analysis, Joby has entered the final phase of this process and has already conducted piloted test flights in major metropolitan areas like New York City and the San Francisco Bay Area.

In contrast, Archer's recent strategic moves suggest a longer timeline for its civil aircraft certification. The company recently unveiled "Halo," an autonomous VTOL aircraft developed with defense technology firm Anduril for military and logistics applications. While this pivot could open new revenue streams, it also signals a potential delay in the complex and costly process of certifying its passenger air taxi.

A Widening Financial Divide

The disparity between the two companies is starkly reflected in their financial performance and outlook. Joby's progress is already translating into more substantial revenue.

Ad

• Joby Aviation (JOBY): Reported $24.25 million in revenue for the first quarter of 2026, with full-year estimates reaching $116.88 million.
• Archer Aviation (ACHR): Reported $1.60 million in revenue for the same period, with a full-year 2026 estimate of $10.05 million.

Joby's revenue, likely from defense contracts and pre-commercial service agreements, indicates a more advanced stage of business development. The company also holds a strong cash position with approximately $1.3 billion in total liquidity, providing a significant runway to scale operations.

Ecosystem and Strategic Partnerships

Joby's lead is further cemented by its mature partnership ecosystem, which is critical for manufacturing and infrastructure. The company has a manufacturing joint venture with Toyota, a deal with smart city firm Atoms to build vertiport infrastructure, and an exclusive partnership with Virgin Atlantic in the United Kingdom.

Archer has also secured key partners, including a manufacturing agreement with Stellantis and an order from United Airlines. However, its most recent high-profile partnership with Anduril is focused on the defense sector, diverging from the core commercial air taxi market where Joby is concentrating its efforts. For investors, the key distinction is that Joby's partnerships are directly aligned with deploying a commercial passenger service in the near term.