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MARKETS / NASDAQ / PONY
NASDAQ · SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN · LARGE CAP

Pony AI Inc. PONY

4 fiscal years on record · USD · FY2025 reported · SEC filings only
$90.0M
▲ 20.0% YoY
$-134.0M
$-208.8M
In brief

What this company does

The company was among the first in China to secure licenses for fully driverless robotaxi operations across all four Tier-1 cities in China, namely Beijing, Shanghai, Guangzhou and Shenzhen. As of March 31, 2026, the company operated a fleet of over 1,400 robotaxis, which has accumulated over 65.0 million kilometers of autonomous driving mileage cumulatively. The company has formed a joint venture with Toyota and GTMC to advance the mass production and large-scale deployment of fully driverless robotaxis in China under the joint deployment model. The company has built the proprietary vehicle-agnostic Virtual Driver, its full-stack autonomous driving technology that seamlessly integrates its proprietary software, hardware and services, to deliver safe and reliable autonomous mobility in diverse use cases. On November 6, 2025, Hong Kong time, the company's Class A ordinary shares commenced trading on the Main Board of the Hong Kong Stock Exchange under the stock code "2026". The company's top three customers accounted for an aggregate of 65.8%, 43.9% and 59.4% of its revenues in 2023, 2024 and 2025, respectively.

Written from the business description in Pony AI Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 22 April 2026. Every sentence was checked against that document before publication.

Growth
USD 90.0M
Revenue, FY2025 · full 4-year series below
Revenue $M Net income $M
FY2025 · Revenue 90.0 · Net income -134.0
40M80M-100M-200M2022202320242025
Compound annual growth
+9.6%
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−85 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -289.8% · Net -85.3%
-100%-200%-300%2022202320242025
ROE
FY2025 · ROE -10.3%
-100%-200%2022202320242025

Each USD of equity lost 10 cents this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -208.8
-80M-160M2022202320242025
Net buybacks $ Dividends $
FY2023 · Dividends — · Net buybacks 994000.0
4000008000002023

Total assetsUSD 1.8B
EquityUSD 1.7B
CashUSD 293.5M
Current ratio13.67×

Equity funds 91% of total assets.

The 4-year record
4 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 2025202420232022
Revenue $B0.10.10.10.1
Operating income $B−0.3−0.3−0.1−0.2
EBITDA $B−0.3−0.3−0.1−0.2
Income tax $B·0.0−0.0−0.0
Net income $B−0.1−0.3−0.1−0.1
Free cash flow $B−0.2−0.1−0.1−0.2
EPS, diluted $−0.35−2.40−1.40−1.73
Dividend / sh $····
Payout %····
ROE %−10.3−200.2··

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 20 reconciliationsAUDITED

Reconciled in 4 of 19 fiscal years. 75 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityServices-Computer Integrated Systems Design
Listed onNASDAQ
Incorporated inoutside the United States — SEC code E9
Fiscal year endsDecember 31
Data on record since2022

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