Joby Aviation announced it was acquiring Dayton, Ohio-based defense firm Resonant Sciences in a $500 million deal, in a bid by the electric aircraft company to expand further into the military industrial complex. Joby says it expects to finance the deal with $450 million in cash and $50 million in equity. The commercial division will remain focused on air taxis, the first of which are expected to launch later this year. Air taxis have yet to obtain the necessary government approvals in most markets that would allow them to launch their commercial service and bring in more money. Last week, Joby reported a net loss of $245.4 million in the second quarter of 2026 on $38.6 million in revenue.