Joby and Archer Each Burn Roughly $200 Million a Quarter: Which One Runs Out of Cash First?
Both Joby Aviation (JOBY) and Archer Aviation (ACHR) are burning significant amounts of cash as they develop their electric vertical takeoff and landing (eVTOL) aircraft. In Q2, each company reported losses exceeding $260 million despite minimal revenue generation—$38.6 million for Joby versus just $5 million for Archer. While both companies have made progress in advancing eVTOL technology with successful test flights, their financial positions remain precarious due to high research and development costs. Joby has a slight advantage over Archer when it comes to cash reserves: as of Q2 2026, Joby held $2.2 billion compared to Archer’s $1.5 billion in cash and investments. At current burn rates, this suggests that Joby could sustain operations for about two years while Archer may only last a little over one year unless it significantly reduces expenses or raises additional capital. Both companies are attracting partnerships with major aviation firms like Boeing (BA) and Virgin Atlantic, which signals growing industry confidence in their eVTOL technologies. These alliances suggest that raising more funds might be feasible if needed.
Topics: Archer Aviation eVTOL financial performance Joby Aviation losses