---
title: "Joby and Archer Are Racing to FAA Certification While Burning Hundreds of Millions a Year. Here's the 1 Number That Picks the Winner."
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/296704487.md"
description: "Joby Aviation and Archer Aviation are competing for FAA certification, a critical milestone that de-risks their stocks. Joby is currently ahead with its first FAA-conforming flight, while Archer focuses on OEM sales. Certification shifts the narrative from cash burn to growth investment, potentially unlocking more value for Archer despite Joby's lead in testing."
datetime: "2026-08-23T13:31:45.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/296704487.md)
  - [en](https://longbridge.com/en/news/296704487.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/296704487.md)
generator: "portal-rs"
---

# Joby and Archer Are Racing to FAA Certification While Burning Hundreds of Millions a Year. Here's the 1 Number That Picks the Winner.

The race for Federal Aviation Administration (FAA) certification won't determine the long-term winner, because **Joby Aviation** (JOBY -0.66%) and **Archer Aviation** (ACHR +3.45%) have vastly different business models that will evolve. However, achieving FAA certification will immediately de-risk the stocks and change the investment narrative from "burning cash in risky development" to "investing cash to scale growth" for both companies. Certification matters, and here's what to look out for in the process.

## The key number to look out for

Given that the FAA won't make a certification decision until each company's electric vertical take-off and landing (eVTOL) aircraft has completed aircraft-level "for credit" testing, investors should look for each company to complete this process 100%. This is the process by which FAA pilots conduct or witness extensive test flights of an eVTOL under a Type Inspection Authorization (TIA). Before achieving TIA, companies must build an FAA-conforming eVTOL and test it with their own pilots.

Expand

![Joby Aviation Stock Quote](https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL0pPQlkucG5nJnc9MTI4?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg)

## NYSE: JOBY

Joby Aviation

Today's Change

(-0.66%) $-0.05

Current Price

$7.53

### Key Data Points

Market Cap

$7.4BMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

Day's Range

$7.52 - $7.78

52wk Range

$6.63 - $19.98

Volume

30.3M

Avg Vol

40.4M

Gross Margin

-365.45%

If you are wondering who is ahead, Joby is generally considered ahead because it conducted its first FAA-conforming eVTOL flight in early March. Moreover, CEO JoeBen Bevirt outlined that "We now have five of our electric air taxis in the air, including our first FAA-conforming aircraft" on the recent earnings call. 

In comparison, Archer's management has not said it has produced an FAA-conforming aircraft. Still, CEO Adam Goldstein did say, "We're actively working with the FAA on for-credit testing this year." That said, readers should note that this could refer to component-level rather than aircraft-level testing of an FAA-conforming aircraft. 

Whichever way you take it, Joby is slightly ahead.

![A Joby eVTOL in flight.](https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84ODIwMjAvam9ieV9haXJjcmFmdF9pbi1mbGlnaHRfbW9udGVyZXktYmF5XzAzXzIwMjUuanBnJnc9Mzg0MA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg)

Image source: Joby Aviation.

## Why FAA certification matters more to Archer

Joby's focus is on becoming a vertically integrated transportation-as-a-service (TaaS) company that builds, owns, and operates its eVTOLs, and Archer's focus is on being an original equipment manufacturer (OEM). While the distinction is somewhat blurred (Joby will also sell some aircraft, and Archer has some TaaS plans of its own, such as becoming an airport shuttle service), it helps explain why early FAA certification is arguably more of a game changer for Archer. Simply put, Archer is likely to generate more upfront revenue and cash flow from OEM sales. In contrast, Joby's business model entails building a TaaS network before it receives significant recurring revenue from ride services.

Expand

![Archer Aviation Stock Quote](https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL0FDSFIucG5nJnc9MTI4?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg)

## NYSE: ACHR

Archer Aviation

Today's Change

(3.45%) $0.21

Current Price

$6.30

### Key Data Points

Market Cap

$4.9BMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

Day's Range

$6.10 - $6.53

52wk Range

$4.30 - $14.62

Volume

32.9M

Avg Vol

42.6M

Gross Margin

-39275.36%

## What investors should look for in both companies

For Joby, the key milestone to follow as it moves toward 100% credit testing is achieving FAA TIA, which will allow final testing to begin. For Archer, it's building its FAA-conforming eVTOL and having its pilots fly it. Joby looks likely to achieve FAA certification first (though the situation is highly dynamic), but arguably, certification will unlock more value for Archer Aviation. Winning the race is important, but think of it as the first leg in a relay race rather than a one-off sprint.

### Related Stocks

- [ACHR.US](https://longbridge.com/en/quote/ACHR.US.md)
- [JOBY.US](https://longbridge.com/en/quote/JOBY.US.md)
- [JOBX.US](https://longbridge.com/en/quote/JOBX.US.md)
- [ARCX.US](https://longbridge.com/en/quote/ARCX.US.md)
- [JOBY+.US](https://longbridge.com/en/quote/JOBY+.US.md)
- [ACHR+.US](https://longbridge.com/en/quote/ACHR+.US.md)

## Related News & Research

- [Joby Aviation CEO JoeBen Bevirt disposes of 596,667 common shares worth $4.69 million](https://longbridge.com/en/news/296265610.md)
- [Archer Aviation (ACHR) Insider Sells $631,000 in Stock as Shares Jump Over 3%](https://longbridge.com/en/news/296697538.md)
- [Archer Aviation Chief Strategy Officer Eric Lentell disposes of 100,000 shares worth $631,000](https://longbridge.com/en/news/296659320.md)
- [Why Joby Aviation stock plummeted 19.8% in July but is soaring in August](https://longbridge.com/en/news/295440029.md)
- [Joby director Paul Sciarra disposes of 62,500 common shares worth $497,500](https://longbridge.com/en/news/295974607.md)

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**