On August 7, Joby Aviation, Inc. rose 5.15% in regular trading, trading at $8.655/share, with turnover of $73.14 million. The stock continued its upward momentum driven by a combination of commercial milestones and strong quarterly results.

On the news front, the company announced a 45,000-square-foot lease agreement at Alliance Air Trade Center, part of Perot Field Fort Worth Alliance Airport in Texas, establishing its Texas operations hub. The site will serve as a base to demonstrate air mobility services across the Dallas-Fort Worth metroplex. Chief Policy Officer Greg Bowles stated the location positions Joby in one of the most exciting markets in the country.

The lease announcement compounds the positive momentum from the company's Q2 earnings released earlier this week. Q2 revenue reached $38.6 million, up from $15 million a year earlier, beating the analyst consensus estimate of $30.2 million by approximately 27%. Q2 loss per share narrowed to $0.25 from $0.41 year-over-year, though slightly missing the $0.23 estimate. The company simultaneously raised full-year revenue guidance to $115 million to $125 million, above the prior analyst expectation of $116.8 million.

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