The Deal Structure

Joby will pay roughly $450 million in cash and $50 million in common stock for Resonant Sciences . The transaction is expected to close in the first half of 2027, pending regulatory approvals .

What Is Resonant Sciences?

Resonant Sciences is a defense technology company founded in 2015 and based in Dayton, Ohio . It employs approximately 250 people, more than 90% of whom hold U.S. security clearances .

• Core technology: Radio frequency (RF) apertures, sensor systems, and mission systems for U.S. military aircraft, designed to operate in contested, GPS-denied environments .
• Revenue: Over $100 million in trailing-twelve-month revenue, representing approximately 40% year-over-year growth, with strong adjusted EBITDA generation .
• Profitability: Joby disclosed that Resonant carries high-teens adjusted EBITDA margins that are expected to expand .
• Customers: Long-cycle programs with the U.S. government, prime defense contractors, and next-generation defense technology programs .

Organizational Structure — A Dedicated Defense Division

Upon closing, Resonant will operate as Joby's dedicated defense business, keeping the Resonant Sciences name under its existing leadership .

• Leadership: Resonant's co-founder and CEO J. Micah North will continue to lead the unit .
• Absorbing existing defense work: Joby will fold its existing defense projects — including turbine-electric hybrid aircraft, hydrogen-electric aircraft, and autonomy technology — into this new defense division .
• Clear separation: The rest of Joby (the core air taxi business) remains focused solely on FAA type certification and commercial launch of its all-electric air taxi . This structure lets the defense unit generate near-term cash flow and profitability while the longer-timeline air taxi certification proceeds.

Strategic Rationale: Three Core Reasons

1. Immediate defense scale and classified access. Resonant brings established programs, specialized RF/sensor technology, and crucially, access to classified U.S. government programs that Joby could not win on its own .

2. Near-term revenue diversification. Joby has been burning cash on air taxi certification — it ended Q2 2026 with ~$2.3 billion in cash . The acquisition gives it an immediately EBITDA-positive defense business generating over $100 million in annual revenue, reducing its dependence on the long-timeline commercial certification .

3. Complementary technology. Resonant's mission systems and RF apertures complement Joby's aircraft platforms, enabling Joby to pitch complete electric/hybrid VTOL systems with integrated defense electronics to the Pentagon .

Broader Pattern: Acquisitions for Revenue Generation

This is consistent with Joby's strategy of using M&A to generate meaningful near-term revenue while its core air taxi program awaits certification.

Blade Air Mobility (August 2025): Joby acquired Blade's passenger helicopter rideshare business for up to $125 million . In Q2 2026, Blade contributed $36.2 million of Joby's total $38.6 million in revenue — that's 94% of total revenue . Blade's seat sales grew over 50% year-over-year, and Joby raised its full-year 2026 revenue guidance to $115–$125 million largely on Blade's strength .

Resonant Sciences (August 2026): The $500 million deal is a larger-scale version of the same playbook — acquire an already-profitable business with government contracts that provides immediate cash flow and strategic positioning.

Prior Defense Work: Hybrid Aircraft and Autonomy

Joby had already been developing defense-oriented aircraft before this deal. The company previously collaborated with L3Harris on a gas-turbine hybrid VTOL aircraft based on its S4 platform for defense applications. In 2024, Joby demonstrated a hydrogen-electric hybrid version of its aircraft that flew 521 miles without recharging — a significant milestone showing the platform's range potential for military missions. These existing defense programs (turbine-electric, hydrogen-electric, autonomy) will be absorbed into the new Resonant-led defense division, giving the combined unit both aircraft platforms and mission-system electronics under one roof. (Note: The L3Harris collaboration and 521-mile flight details draw from the user's question and Joby's public demonstrations, but could not be independently re-verified within the search budget.)

Key Uncertainties

• The deal's close in H1 2027 is subject to regulatory approvals, which could shift timing or terms.
• Whether Joby can successfully integrate a cleared defense contractor (250 employees, >90% with clearances) into a California-based eVTOL startup culture is an open execution risk.
• The L3Harris collaboration and the 521-mile hydrogen-electric flight details draw from the user's question and Joby's prior public demonstrations, but could not be freshly confirmed within the search budget for this analysis.

The Deal Structure

Joby will pay roughly $450 million in cash and $50 million in common stock for Resonant Sciences . The transaction is expected to close in the first half of 2027, pending regulatory approvals .

What Is Resonant Sciences?

Resonant Sciences is a defense technology company founded in 2015 and based in Dayton, Ohio . It employs approximately 250 people, more than 90% of whom hold U.S. security clearances .

• Core technology: Radio frequency (RF) apertures, sensor systems, and mission systems for U.S. military aircraft, designed to operate in contested, GPS-denied environments .
• Revenue: Over $100 million in trailing-twelve-month revenue, representing approximately 40% year-over-year growth, with strong adjusted EBITDA generation .
• Profitability: Joby disclosed that Resonant carries high-teens adjusted EBITDA margins that are expected to expand .
• Customers: Long-cycle programs with the U.S. government, prime defense contractors, and next-generation defense technology programs .

Organizational Structure — A Dedicated Defense Division

Upon closing, Resonant will operate as Joby's dedicated defense business, keeping the Resonant Sciences name under its existing leadership .

• Leadership: Resonant's co-founder and CEO J. Micah North will continue to lead the unit .
• Absorbing existing defense work: Joby will fold its existing defense projects — including turbine-electric hybrid aircraft, hydrogen-electric aircraft, and autonomy technology — into this new defense division .
• Clear separation: The rest of Joby (the core air taxi business) remains focused solely on FAA type certification and commercial launch of its all-electric air taxi . This structure lets the defense unit generate near-term cash flow and profitability while the longer-timeline air taxi certification proceeds.

Strategic Rationale: Three Core Reasons

1. Immediate defense scale and classified access. Resonant brings established programs, specialized RF/sensor technology, and crucially, access to classified U.S. government programs that Joby could not win on its own .

2. Near-term revenue diversification. Joby has been burning cash on air taxi certification — it ended Q2 2026 with ~$2.3 billion in cash . The acquisition gives it an immediately EBITDA-positive defense business generating over $100 million in annual revenue, reducing its dependence on the long-timeline commercial certification .

3. Complementary technology. Resonant's mission systems and RF apertures complement Joby's aircraft platforms, enabling Joby to pitch complete electric/hybrid VTOL systems with integrated defense electronics to the Pentagon .

Broader Pattern: Acquisitions for Revenue Generation

This is consistent with Joby's strategy of using M&A to generate meaningful near-term revenue while its core air taxi program awaits certification.

Blade Air Mobility (August 2025): Joby acquired Blade's passenger helicopter rideshare business for up to $125 million . In Q2 2026, Blade contributed $36.2 million of Joby's total $38.6 million in revenue — that's 94% of total revenue . Blade's seat sales grew over 50% year-over-year, and Joby raised its full-year 2026 revenue guidance to $115–$125 million largely on Blade's strength .

Resonant Sciences (August 2026): The $500 million deal is a larger-scale version of the same playbook — acquire an already-profitable business with government contracts that provides immediate cash flow and strategic positioning.

Prior Defense Work: Hybrid Aircraft and Autonomy

Joby had already been developing defense-oriented aircraft before this deal. The company previously collaborated with L3Harris on a gas-turbine hybrid VTOL aircraft based on its S4 platform for defense applications. In 2024, Joby demonstrated a hydrogen-electric hybrid version of its aircraft that flew 521 miles without recharging — a significant milestone showing the platform's range potential for military missions. These existing defense programs (turbine-electric, hydrogen-electric, autonomy) will be absorbed into the new Resonant-led defense division, giving the combined unit both aircraft platforms and mission-system electronics under one roof. (Note: The L3Harris collaboration and 521-mile flight details draw from the user's question and Joby's public demonstrations, but could not be independently re-verified within the search budget.)

Key Uncertainties

• The deal's close in H1 2027 is subject to regulatory approvals, which could shift timing or terms.
• Whether Joby can successfully integrate a cleared defense contractor (250 employees, >90% with clearances) into a California-based eVTOL startup culture is an open execution risk.
• The L3Harris collaboration and the 521-mile hydrogen-electric flight details draw from the user's question and Joby's prior public demonstrations, but could not be freshly confirmed within the search budget for this analysis.