News Summary

• Joby Aviation has agreed to buy Resonant Sciences, a Dayton, Ohio radar and low-observability specialist, for about $500m.
• It is the largest acquisition the electric air taxi company has made and the clearest signal yet of where it expects its near-term revenue to come from.
• Resonant turned over more than $100m in the trailing twelve months, up around 40% year on year, at adjusted EBITDA margins in the high teens.
• Joby, by comparison, booked $63m of revenue in the first half of this year and burned $318m in operating cash, according to Motley Fool’s reading of its filings.