Key Takeaways:
Pony AI Inc. reported first-quarter revenue of $34.3 million, more than double analyst estimates, as robotaxi fare-charging revenue quintupled and the Chinese autonomous driving company raised its full-year targets.
"The results validate our dual-engine strategy and joint deployment model," Chairman and Chief Executive Officer Dr. James Peng said. "We expect to end the year with a robotaxi fleet exceeding 3,500 vehicles deployed in over 20 cities worldwide."
Revenue rose 145% from $14 million a year earlier, beating the $22 million consensus. The net loss widened to $53.5 million from $37.4 million, while the non-GAAP loss of 9 cents per American depositary receipt compared with the 12-cent loss analysts had expected. Robotaxi services revenue reached $8.6 million, up 395.4% from $1.7 million, with fare-charging revenue climbing 456.5% on the rollout of Gen-7 vehicles from BAIC, GAC and Toyota. Intelligent solutions revenue jumped 246.5% to $15.5 million, driven by a fivefold increase in autonomous domain controller shipments for low-speed delivery and robotics applications.
The company raised its 2026 robotaxi revenue growth target to more than 3.5 times 2025 levels from three times, and its year-end fleet target to over 3,500 vehicles from 3,000. The fleet has already exceeded 1,700 units, with 1,776 produced as of May 24. Pony AI also expanded into Europe for the first time, launching commercial robotaxi services in Croatia with Uber Technologies Inc. and local partner Verne, and is initiating driverless deployments in Dubai. The company now operates in nine countries with public services in four overseas markets.
The raised guidance signals management expects autonomous driving demand to accelerate across both domestic and international markets. Investors will watch the Gen-7 robotaxi cost roadmap, with a target bill-of-materials below RMB230,000 by mid-2027, and the Gen-4 robotruck mass production in the second half of 2026 as the next catalysts for margin improvement.
This article is for informational purposes only and does not constitute investment advice.
