Joby Aviation, Inc. (NYSE:JOBY) Q1 2022 Earnings Conference Call May 12, 2022 5:00 PM ET

Company Participants

JoeBen Bevirt - Founder and Chief Executive Officer

Didier Papadopoulos - Head of Aircraft Development and Manufacturing

Bonny Simi - Head of Operations and People

Matt Field - Chief Financial Officer

Paul Sciarra - Executive Chairman

Conference Call Participants

Christine Liwag - Morgan Stanley

Bill Peterson - JPMorgan

Edison Yu - Deutsche Bank

Andres Sheppard - Cantor Fitzgerald

David Zazula - Barclays

Operator

Good afternoon and thank you for holding. My name is Sherry, and I will be your conference operator today. Welcome to Joby Aviation's First Quarter 2022 Conference Call. At this time, all parties are in a listen-only mode. As a reminder, today's call is being recorded and a replay of the call will be available on the Investor Relations section of the Company's website.

Please note that some of the Company's discussion today will include statements regarding future events and financial performance, and statements of beliefs, expectation, and intent. These forward-looking statements are based on management's current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied. For a more detailed discussion of these risks and uncertainties, please refer to the Company's filings with the SEC and the Safe Harbor disclaimer contained in today's Shareholder Letter. The forward-looking statements included on this call are made only as of the date of this call and the Company does not assume any obligation to update or revise them.

This call will also include references to the Company's adjusted EBITDA, which is a non-GAAP financial measure. A reconciliation of this non-GAAP financial measure to the most direct comparable GAAP measure is included in today's Shareholder Letter, which will be posted on the Company's website at ir.jobyavaiation.com.

On the call from management today are JoeBen Bevirt, Founder and Chief Executive Officer; Paul Sciarra, Executive Chairman; Didier Papadopoulos, Head of Aircraft Development and Manufacturing; Bonny Simi, Head of Operations and People; and Matt Field, Chief Financial Officer. After their prepared remarks, we will open the call up to analysts for questions.

I will now hand the call over to Mr. Bevirt.

JoeBen Bevirt

Thank you, operator. Good afternoon everyone and thank you for joining us for today’s call. While it's only been a short time since we last spoke, we have made a substantial amount of progress, and I'm really excited about the pace at which we are moving. We continue to execute against our plan and we remain on-track to meet our operational goals and spending guidance for the year. You might have caught the recent 60 minute segment that focused on eVTOL technology and Joby in particular. While it was great to introduce our aircraft to Anderson Cooper and to share our story with millions of viewers at home, it was a comment from the Acting Administrator of the FAA that resonated most with us. He said and I quote, ''We want to be very careful. We want to be very measured, but you're absolutely right. This is real, and this is happening.'' And that's exactly in the mindset that continues to guide us here at Joby. There is plenty to do. We need to do it in a professional, mature and thorough way. And the opportunity is substantial.