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Financials · PONY

Pony AI Inc. (PONY) financials

For fiscal 2025 (ended Dec 31, 2025), Pony AI Inc. reported $90.00M of revenue and -$133.97M of net income.

Revenue, FY2025
$90.00M
Revenue growth, YoY
+20.0%
Net income, FY2025
-$133.97M
Net margin
-148.9%
Free cash flow, FY2025
-$208.83M
EPS, diluted, FY2025
-$0.35
Cash
$293.49M
P/S
23.36
Market cap
$2.10B
Annual revenue$90.00M
FY2022FY2025
Annual net income-$133.97M
FY2022FY2025
Annual free cash flow-$208.83M
FY2022FY2025

PONY revenue and earnings growth

PONY revenueFY2025$90.00M

FY YoY
+20.0%

PONY revenue was $90.00M for fiscal 2025 (ended Dec 31, 2025), up 20.0% from fiscal 2024. It rose in each of the last 3 fiscal years.

PONY net incomeFY2025-$133.97M

PONY net income was -$133.97M for fiscal 2025 (ended Dec 31, 2025), compared with -$274.12M in fiscal 2024.

PONY EPSFY2025-$0.35

PONY diluted EPS was -$0.35 for fiscal 2025 (ended Dec 31, 2025).

PONY free cash flowFY2025-$208.83M

PONY free cash flow was -$208.83M for fiscal 2025 (ended Dec 31, 2025), compared with -$122.16M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
Revenue$90.00M$75.03M$71.90M$68.39M
Cost of revenue$75.84M$63.62M$55.02M$36.32M
Gross profit$14.16M$11.40M$16.88M$32.06M
Research and development$217.42M$240.18M$122.71M$153.60M
Selling, general and admin$57.60M$56.75M$37.42M$49.18M
Operating income-$260.86M-$285.52M-$143.24M-$170.72M
Pre-tax income-$76.76M-$275.00M-$125.45M-$148.32M
Income tax-$1.0K-$126.0K-$74.0K
Net income-$133.97M-$274.12M-$124.81M-$148.02M
EPS, basic-$0.35-$2.40-$1.40-$1.73
EPS, diluted-$0.35-$2.40-$1.40-$1.73
Diluted shares379.9M114.3M89.1M85.3M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
Cash and equivalents$293.49M$535.98M$425.96M$318.52M
Short-term investments$872.16M$209.03M$163.59M$261.64M
Receivables$23.64M$28.55M$31.58M$25.90M
Current assets$1.25B$834.62M$666.35M$643.57M
Total assets$1.81B$1.05B$747.12M$771.51M
Current liabilities$91.47M$70.89M$48.16M$48.10M
Short-term debt---$3.95M
Total liabilities$103.84M$82.11M$51.94M$53.60M
Shareholders' equity$1.65B$951.12M-$666.11M-$539.59M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
Operating cash flow-$164.96M-$110.76M-$115.42M-$154.77M
Capital expenditures$43.88M$11.40M$5.09M$12.03M
Free cash flow-$208.83M-$122.16M-$120.51M-$166.80M
Investing cash flow-$889.16M-$181.27M$136.49M$49.33M
Financing cash flow$814.83M$407.39M$89.76M$191.57M
Share repurchases--$994.0K-
Stock-based compensation$30.80M$127.00M$3.25M$13.18M
Depreciation and amortization$7.10M$9.80M$15.50M$17.60M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
Revenue growth, YoY20.0%4.3%5.1%-
Gross margin15.7%15.2%23.5%46.9%
Operating margin-289.8%-380.6%-199.2%-249.6%
Net margin-148.9%-365.4%-173.6%-216.4%
Free cash flow margin-232.0%-162.8%-167.6%-243.9%
Return on equity-8.1%-28.8%--
Return on assets-7.4%-26.1%-16.7%-19.2%
Current ratio13.6711.7713.8313.38

Source: XBRL data Pony AI Inc. files with the SEC, latest filing dated Apr 22, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

Foreign private issuers file annual reports with the SEC, so there are no quarterly statements here.

PONY peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
PONY$90.00M+20.0%-$133.97M-148.9%$2.10B
ADP$22.26B+6.5%$4.53B20.3%$119.24B
INFY$20.16B+4.6%$3.31B16.4%$50.24B
WDAY$10.15B+13.3%$1.25B12.3%$45.84B
ZS$3.35B+25.4%-$63.18M-1.9%$32.45B
CTSH$21.89B+5.0%$2.57B11.8%$28.43B
VRSN$1.73B+6.5%$849.80M49.1%$27.43B
VRSK$3.18B+4.9%$879.20M27.7%$25.73B
IOT$1.85B+29.5%$90.55M4.9%$24.73B

PONY FAQ

9 questions
  • What is PONY revenue?
    Pony AI Inc. (PONY) reported $90.00M of revenue for fiscal 2025 (ended Dec 31, 2025). That is up 20.0% from the year before.
  • Is PONY profitable?
    No. Pony AI Inc. reported a net loss of $133.97M for fiscal 2025 (ended Dec 31, 2025).
  • How much cash and debt does PONY have?
    Pony AI Inc. reported $293.49M in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is PONY revenue growing?
    Pony AI Inc.'s revenue changed +20.0% in fiscal 2025, to $90.00M.
  • What is PONY gross margin?
    Pony AI Inc.'s gross profit was $14.16M on $90.00M of revenue for fiscal 2025 (ended Dec 31, 2025), a gross margin of 15.7%.
  • What is PONY free cash flow?
    Pony AI Inc. generated -$208.83M of free cash flow for fiscal 2025 (ended Dec 31, 2025), which is operating cash flow of -$164.96M less capital expenditures.
  • What is PONY earnings per share?
    Diluted earnings per share were -$0.35 for fiscal 2025 (ended Dec 31, 2025), from SEC filings, restated for any stock split those filings show.
  • When did PONY last report financial results?
    The latest statements here come from Pony AI Inc.'s 20-F filed on Apr 22, 2026, covering the period ended Dec 31, 2025.
  • Where does this PONY financial data come from?
    Quantisnow builds these statements from the structured XBRL data Pony AI Inc. files with the SEC. It is provided for information only and is not investment advice.