Joby Aviation Acquires Resonant Sciences for $500M

Joby Aviation has agreed to acquire Resonant Sciences, an Ohio-based maker of radio frequency and sensor systems, for $500 million in cash and stock. The deal, disclosed in a regulatory filing on Tuesday, marks Joby's latest push into the defense sector and provides the electric air taxi developer with a revenue-generating business.

Defense Division Creation

Resonant Sciences will become a dedicated defense business under Joby, led by Resonant's co-founder and CEO J. Micah North. This new division will absorb Joby's existing defense projects, including the development of a turbine-electric and hydrogen-electric aircraft, as well as its autonomy technology stack. The move allows the rest of Joby Aviation to focus on certifying, manufacturing, and launching its electric air taxi.

Joby's Defense Expansion

Joby, based in California, is primarily known for developing electric vertical take-off and landing (eVTOL) aircraft for urban air mobility. However, the company has increasingly pursued defense opportunities over the past two years. Last year, Joby signed an agreement with L3Harris Technologies to explore the development of a gas-turbine hybrid VTOL aircraft for defense applications, based on Joby's S4 platform. In 2024, Joby demonstrated a hydrogen-electric hybrid version of the S4 that flew 521 miles, more than twice the range of its battery-electric prototype.

Financial and Strategic Benefits

The acquisition gives Joby access to Resonant's $100 million in trailing twelve-month revenue and its involvement in classified U.S. government programs. Resonant's radio frequency and sensing technology complements Joby's eVTOL development. This acquisition follows a similar strategy Joby used last year when it acquired Blade Air Mobility's helicopter rideshare business for approximately $125 million. That deal provided Joby with access to 12 terminals in key markets, including New York City, and generated significant revenue. In the second quarter, Joby reported $38.6 million in revenue, with $36.2 million coming from the Blade acquisition.