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Pony AI, which posted a first-quarter revenue surge, struck a partnership with Uber earlier this month.KEY TAKEAWAYS
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Shares of Pony AI are jumping in premarket trading Tuesday after the Chinese autonomous vehicle maker posted a surge in first-quarter sales on the back of gains in its robotaxi service.
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The Chinese firm had struck a deal earlier this month with Uber Technologies to put its robotaxis in the U.S. ride-hailing firm’s platform.
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Pony AI went public in the U.S. late last year.
Shares of Pony AI (PONY) are jumping in premarket trading Tuesday after the Chinese autonomous vehicle maker posted a surge in first-quarter sales on the back of gains in its robotaxi service.
The Chinese firm had struck a deal earlier this month with Uber Technologies (UBER) to put its robotaxis in the U.S. ride-hailing firm’s platform.
First-quarter revenue rose 11.6% year-over-year to $13.98 million, up from $12.52 million. Its loss per share narrowed to $0.12 from $0.23 in Q1 2024. Pony AI's net loss attributed to the company more than doubled to $42.99 million from $20.60 million a year ago. The company attributed the bigger loss partly to its mass production of its seventh-generation autonomous vehicles.
“2025 is the year of scaling up for Pony.ai and we embraced it with strong growth momentum,” Pony AI CEO James Peng said. “Our robust total revenues in the first quarter were fueled by a 200% year-over-year rise in Robotaxi services, with fare-charging revenues achieving approximately 800% growth rate.”
Pony AI, which was founded in 2016, went public on Nasdaq in November at $13 per share. Its shares are up 5% in premarket trading and have soared 18% so far this year entering Tuesday, closing Monday at $16.91 each.
UPDATE—This article has been updated with the latest share price and additional information.
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