Analysis indicates that while it's too early to declare a winner, Joby Aviation has taken the lead over Archer Aviation in the final stages of Federal Aviation Administration (FAA) certification. Both companies plan to commence operations in the U.S. under federal pilot programs this year. Joby Aviation achieved nearly $39 million in revenue in Q2 2026, with approximately $36 million coming from its subsidiary Blade, and holds cash reserves of about $2.3 billion. The company recently announced its acquisition of defense technology firm Resonant Sciences to significantly boost revenue. However, Joby's stock price has fallen by nearly 50% over the past year.