Joby Aviation acquires Resonant Sciences for $500 million to bolster defence revenue
The deal, confirmed via regulatory filing, brings $100 million in trailing revenue and classified government access, allowing Joby to focus capital on its eVTOL certification.
Joby Aviation has agreed to acquire Ohio-based Resonant Sciences for $500 million in cash and stock, a move designed to establish a dedicated defence business unit. The transaction, confirmed by a regulatory filing posted on Tuesday, marks the electric air taxi developer’s most significant step into the defence sector to date.
Under the terms of the agreement, Resonant Sciences’ co-founder and chief executive officer, J. Micah North, will lead the new division. The unit will absorb Joby’s existing defence projects, including the development of turbine-electric and hydrogen-electric aircraft, as well as autonomy technology stacks. Resonant Sciences, which specialises in radio frequency and sensor systems, will operate as a distinct entity within the broader corporate structure.
The acquisition provides Joby with immediate financial stability. Resonant Sciences reported $100 million in trailing 12-month revenue and holds access to classified United States government programs. This near-term revenue stream is intended to offset the capital-intensive nature of developing and certifying electric vertical takeoff and landing (eVTOL) aircraft, allowing the company to concentrate resources on launching its commercial air taxi operations.
This strategic pivot follows a series of moves to diversify Joby’s income sources. In 2024, the company demonstrated a hydrogen-electric hybrid version of its S4 aircraft, which flew 521 miles under a government contract. Earlier that year, Joby signed an agreement with L3Harris Technologies to explore opportunities for a gas-turbine hybrid VTOL aircraft based on its S4 platform, further embedding the company in defence applications.
Joby has previously utilised acquisitions to generate revenue while its core technology matures. Last year, the company acquired Blade Air Mobility’s helicopter rideshare business for approximately $125 million, securing access to terminal networks in New York City and delivering significant immediate income. In the second quarter, Joby reported $38.6 million in revenue, with $36.2 million derived from the Blade acquisition, highlighting the importance of such transactions in sustaining the business ahead of full eVTOL certification.
