PONY AI Inc. Realized Gen-7 Robotaxi city-wide UE Breakeven; Set to Surpass 2025 Fleet Target and Expand to 3,000+ Vehicles by End of Next Year
NEW YORK, Nov. 25, 2025 (GLOBE NEWSWIRE) -- Pony AI Inc. (“Pony.ai” or the “Company”) (NASDAQ: PONY; HKEX: 2026), a global leader in achieving large-scale commercialization of autonomous mobility, today announced its unaudited financial results for the third quarter ended September 30, 2025.
Dr. James Peng, Chairman and Chief Executive Officer of Pony.ai, commented, “Earlier this month, we achieved a key milestone with our dual primary listing on the Hong Kong Stock Exchange (“Hong Kong IPO”), securing long-term capital for large-scale commercialization. We are proud to have officially launched our seventh generation (“Gen-7”) Robotaxi across major tier-one cities in China, advancing fully driverless mobility toward greater passenger accessibility. Fueled by this momentum and our newly added firepower, we are speeding up the commercialization of safe and efficient Robotaxi and Robotruck services, bringing it to widespread, everyday adoption.”
Dr. Tiancheng Lou, Chief Technology Officer of Pony.ai, commented, “Our early move to adopt the world model has become a clear technological advantage. PonyWorld combines high-fidelity simulation, the ability to reproduce corner cases, and an artificial intelligence (“AI”) based learning evaluator, enabling unsupervised and self-improving closed-loop training. This is the key to building our strong moat, and Gen-7 Robotaxi turns that technological edge into commercial efficiency. Our tech generalization also adapts quickly to new markets and vehicle platforms. With the resources provided by our dual listing, we will continue investing in R&D innovation and attracting top AI talent to enhance our strength.”
Dr. Leo Wang, Chief Financial Officer of Pony.ai, commented, “In the third quarter, we delivered robust top-line growth and further enhanced our financial position. Total revenues rose by 72.0% year-over-year, driven by strong growth from Robotaxi services and Licensing & Applications. The net proceeds from our recent Hong Kong IPO have significantly strengthened our balance sheet. Combined with the pivotal milestone of Gen-7 Robotaxi city-wide unit economics (“UE”) breakeven in Guangzhou 2, the net proceeds have positioned us to accelerate the large-scale commercial expansion and to drive sustained, long-term growth.”
Accelerating Progress in Gen-7 Robotaxi Production and Deployment
Entering New Robotaxi Markets and Deepening Our Existing Footprint
1 Assuming the full exercise of the over-allotment options, the gross proceeds will be US$993 million at the rate of HK$7.76923 to US$1.00.
2 Based on the two-week daily average figures in Guangzhou as of November 23, 2025, following the launch of Gen-7 commercial operations.
3 As of November 23, 2025.
Unaudited Third Quarter 2025 Financial Results
Cost of Revenues
Gross Profit and Gross Margin
Operating Expenses
Operating expenses were US$74.3 million (RMB529.2 million) in the third quarter of 2025, representing an increase of 76.7% from US$42.1 million in the third quarter of 2024. Non-GAAP 4 operating expenses were US$67.7 million (RMB482.3 million) in the third quarter of 2025, representing an increase of 63.7% from US$41.4 million in the third quarter of 2024.
Loss from Operations
Net Loss
Basic and Diluted Net Loss per Ordinary Share
Balance Sheet and Cash Flow
4 Non-GAAP financial measures exclude share-based compensation expenses and changes in fair value of warrants liability, and such adjustment has no impact on income tax. For further details, see the “Unaudited Reconciliation of U.S. GAAP and Non-GAAP Results ” set forth at the end of this earnings release.
Conference Call
Pony.ai will hold a conference call at 7:00 AM U.S. Eastern Time on Tuesday, November 25, 2025 (8:00 PM Beijing/Hong Kong Time on the same day) to discuss financial results and answer questions from investors and analysts.
For participants who wish to join the call by phone, please complete the online registration process using the link provided below prior to the scheduled call start time. Upon registration, participants will receive a confirmation email containing dial-in numbers, passcode, and a unique access PIN.
Participant Online Registration: https://dpregister.com/sreg/10204010/1002ee52a5c
A replay of the conference call will be accessible through December 2, 2025, by dialing the following numbers:
Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at https://ir.pony.ai.
Exchange Rate
This press release contains translations of certain RMB amounts into U.S. dollars (“USD”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to USD were made at the rate of RMB7.1190 to US$1.00, the noon buying rate in effect on September 30, 2025, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or USD amounts referred could be converted into USD or RMB, as the case may be, at any particular rate or at all. For analytical presentation, all percentages are calculated using the numbers presented in the financial statements contained in this earnings release.
Non-GAAP Financial Measures
The Company uses non-GAAP financial measures, such as non-GAAP research and development expenses, non-GAAP selling, general and administrative expenses, non-GAAP operating expenses, non-GAAP loss from operations, non-GAAP net loss, non-GAAP net loss attributable to Pony AI Inc., non-GAAP basic and diluted net loss per ordinary share, and non-GAAP free cash flows, in evaluating its operating results and for financial and operational decision-making purposes. By excluding the impact of share-based compensation expenses and changes in fair value of warrants liability, the Company believes that the non-GAAP financial measures help identify underlying trends in its business and enhance the overall understanding of the Company’s past performance and future prospects. The Company also believes that the non-GAAP financial measures allow for greater visibility with respect to key metrics used by the Company’s management in its financial and operational decision-making.
The non-GAAP financial measures are not presented in accordance with U.S. GAAP and may be different from non-GAAP methods of accounting and reporting used by other companies. The non-GAAP financial measures have limitations as analytical tools and when assessing the Company’s operating performance, investors should not consider them in isolation, or as a substitute for financial information prepared in accordance with U.S. GAAP. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure.
The Company mitigates these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating the Company’s performance.
For more information on the non-GAAP financial measures, please see the table captioned “Unaudited Reconciliation of U.S. GAAP and Non-GAAP Results” set forth at the end of this earnings release.
About Pony AI Inc.
Pony AI Inc. is a global leader in achieving large-scale commercialization of autonomous mobility. Leveraging its vehicle-agnostic Virtual Driver technology, a full-stack autonomous driving technology that seamlessly integrates Pony.ai’s proprietary software, hardware, and services, Pony.ai is developing a commercially viable and sustainable business model that enables the mass production and deployment of vehicles across transportation use cases. Founded in 2016, Pony.ai has expanded its presence across China, Europe, East Asia, the Middle East and other regions, ensuring widespread accessibility to its advanced technology. For more information, please visit: https://ir.pony.ai.
Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. Statements that are not historical facts, including statements about Pony.ai’s beliefs, plans, and expectations, such as the expected fleet size, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in Pony.ai’s filings with the SEC and the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release, and Pony.ai does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For investor and media inquiries, please contact:
Pony.ai
Investor Relations
Email: ir@pony.ai
Media Relations
Email: media@pony.ai
Christensen Advisory
Email: pony@christensencomms.com
5 Such adjustments have no impact on income tax for the three-month and nine -month periods ended September 30, 2024 and 2025 due to i ) the conditions on tax deduction for share-based compensation have not been met, and valuation allowance was provided for all deferred tax assets; and ii) warrants are issued by the Group’s Cayman entity, and its applicable income tax rate is nil.
6 Free Cash Flow s are a non-GAAP measure, commonly defined as cash flows from operating activities as presented in the statement of cash flows, less capital expenditures. However, in the context of the Company , operating cash flow s are a cash out (i.e., a cash outflow) . Free Cash Flow s represent the total of operating cash outflows plus capital expenditures. This metric reflects the C ompany's important cash outflows, as it combines the funds required to maintain operations and invest in growth.