Joby Aviation Acquires Resonant Sciences to Build a Larger Defense Technology Business

Key Points

• Joby Aviation has agreed to acquire defense technology company Resonant Sciences for approximately $500 million.
• The transaction includes about $450 million in cash and $50 million in Joby common stock, with closing expected in the first half of 2027.axios+1
• Resonant Sciences will become Joby’s dedicated defense business, adding established revenue, specialized technology, and expanded manufacturing capacity.

Joby Aviation (NYSE: JOBY) is expanding beyond electric air taxis through an agreement to acquire Resonant Sciences, a defense technology company based in Dayton, Ohio. The approximately $500 million transaction is designed to give Joby an established position in the aerospace and defense market while allowing its commercial aviation business to remain focused on electric aircraft certification and future passenger service.

Resonant Sciences brings advanced defense technology and established revenue

Resonant Sciences develops and manufactures technology for aerospace and defense customers, including advanced radar, radio-frequency systems, electronic countermeasures, navigation solutions, antennas, low-observability technology, and specialized electronics.

Joby said Resonant generated more than $100 million in trailing-12-month revenue, with approximately 40% year-over-year growth and adjusted EBITDA margins in the high teens. The acquisition gives Joby immediate exposure to a growing defense business that is already generating revenue and operating profit.

Joby will establish Resonant as its dedicated defense business

After the deal closes, Resonant Sciences is expected to operate as Joby’s dedicated defense division and retain its existing name. Resonant co-founder and CEO J. Micah North will lead the business, which will also incorporate Joby’s current defense initiatives, including hybrid and autonomous vertical-takeoff-and-landing aircraft programs.

This structure is intended to separate Joby’s defense activities from its commercial air-taxi business. Joby’s core commercial team will continue focusing on certifying, manufacturing, and launching its electric vertical-takeoff-and-landing aircraft for passenger operations.

Acquisition expands Joby’s Ohio manufacturing and testing footprint

Resonant currently operates about 105,000 square feet of engineering, manufacturing, testing, and integration space across seven facilities in the Dayton area. Combined with Joby’s existing Ohio operations, the acquisition would give the company nearly 1 million square feet of regional manufacturing, integration, and test capacity.

The larger Dayton footprint could strengthen Joby’s ability to support defense-program production and testing while placing the company within a major U.S. aerospace and defense ecosystem.

Cash and stock consideration shape the financial impact of the deal

Joby plans to fund the acquisition with approximately $450 million in cash and $50 million in common stock. The equity component is expected to be issued to certain Resonant employee shareholders, helping retain alignment with the combined business following closing.

Joby has also established an at-the-market equity program that could allow it to issue up to $750 million in common stock over time. This program does not represent an immediate sale of shares, but it creates potential future dilution if Joby uses it to raise capital.

What the Resonant Sciences deal means for JOBY investors

For JOBY investors, the acquisition adds near-term defense revenue, operating profitability, and technology capabilities to a company better known for its long-term electric air-taxi opportunity. It could diversify Joby’s business model and provide another path to growth while commercial eVTOL operations remain under development.

The primary factors to watch are the deal’s expected first-half 2027 closing, required regulatory approvals, integration progress, Resonant’s revenue growth and margins, Joby’s cash balance, and any use of the ATM program. Investors should also continue monitoring Joby’s commercial aircraft certification, manufacturing, and launch milestones, which remain central to the company’s long-term valuation.