Joby Aviation is paying $500 million in cash and stock to acquire Resonant Sciences, a move that catapults the electric air taxi developer deeper into military contracting.
The deal, disclosed Tuesday in a regulatory filing, hands Joby a revenue-generating defense operation at a moment when investors have grown restless waiting for the company’s core air taxi business to reach commercialization.
Resonant Sciences, headquartered in Ohio, specializes in radio frequency and sensor systems. Under the agreement, it becomes a standalone defense unit within Joby, led by co-founder and CEO J. Micah North. That division will absorb all existing Joby defense projects, including turbine-electric and hydrogen-electric aircraft development plus autonomy technologies.
Meanwhile, the rest of Joby remains focused on certifying, building, and deploying its electric air taxi. The California company has spent years developing an urban aerial rideshare network for short-haul passenger and cargo transport.
Joby’s defense ambitions gained visibility over the past two years. Last year, it signed a pact with L3Harris Technologies to explore a new aircraft class: an autonomous gas-turbine hybrid VTOL built on Joby’s S4 platform. In 2024, under a government contract, Joby flew a hydrogen-electric hybrid version 521 miles, more than double the range of its battery-electric prototype.
The Resonant acquisition brings immediate financial benefits. Resonant reported $100 million in trailing 12-month revenue and holds access to classified U.S. government programs. Its radio frequency and sensing capabilities also complement Joby’s eVTOL aircraft.
This strategy mirrors Joby’s earlier moves. The company went public in 2021 via a SPAC merger, and since then has sought near-term revenue to offset the long, expensive path to eVTOL certification. Last year, Joby bought Blade Air Mobility’s helicopter rideshare business for roughly $125 million, gaining 12 terminals across New York City and major airports. Blade contributed $36.2 million of Joby’s $38.6 million in second-quarter revenue.
As a result, Resonant gives Joby another cash-generating foothold while its air taxi program advances toward launch.
