PONY - Pony AI Inc. American Depositary Shares
Price:
--
--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$23.67
DETAILS
HIGH:
$30.00
LOW:
$17.00
MEDIAN:
$24.00
CONSENSUS:
$23.67
UPSIDE:
187.61%
| Metric | 2026 Q2 | 2026 Q1 | 2025 Q4 | 2025 Q3 | 2025 Q2 | 2025 Q1 | 2024 Q4 | 2024 Q3 | 2024 Q2 | 2024 Q1 | 2023 Q4 | 2023 Q3 | 2023 Q2 | 2023 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||||||
| Revenue | 36.2 | 34.2 | 29.3 | 25.4 | 21.5 | 14.0 | 25.2 | 25.2 | 24.7 | 12.5 | 29.8 | 29.8 | 6.1 | 6.1 |
| Cost of Revenue | 29.9 | 28.7 | 25.5 | 20.8 | 18.0 | 11.7 | 20.7 | 20.7 | 26.3 | 9.9 | 21.5 | 21.5 | 6.0 | 6.0 |
| Gross Profit | 6.3 | 5.6 | 3.7 | 4.7 | 3.5 | 2.3 | 4.4 | 4.4 | (1.7) | 2.6 | 8.3 | 8.3 | 0.1 | 0.1 |
| Operating Expenses | ||||||||||||||
| R&D Expenses | 56.2 | 47.9 | 60.8 | 60.4 | 49.0 | 47.5 | 147.3 | 90.7 | 54.4 | 29.7 | 31.0 | 31.0 | 30.3 | 30.3 |
| SG&A Expenses | 15.9 | 16.0 | 17.1 | 14.0 | 15.7 | 10.9 | 20.6 | 20.6 | 15.6 | 7.6 | 10.2 | 10.2 | 8.5 | 8.5 |
| Other Expenses | 0 | 0 | 0 | 0 | 0 | 0 | (56.6) | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Expenses | 72.1 | 63.9 | 77.9 | 74.3 | 64.7 | 58.4 | 111.3 | 111.3 | 70.0 | 37.3 | 41.2 | 41.2 | 38.9 | 38.9 |
| Operating Income | ||||||||||||||
| Operating Income | (65.7) | (58.3) | (74.2) | (69.7) | (61.3) | (56.0) | (106.9) | (106.9) | (71.6) | (34.7) | (32.9) | (32.9) | (38.7) | (38.7) |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5.7 | 0 | 0 | 0 | 4.7 | 0 |
| Interest Income | 10.4 | 11.8 | 9.0 | 5.3 | 6.5 | 22.2 | 5.3 | 4.5 | 11.3 | 5.7 | 10.0 | 5.0 | 9.4 | 4.7 |
| Profitability | ||||||||||||||
| EBITDA | (64.2) | (53.5) | 82.0 | (54.9) | (51.9) | (35.3) | (109.8) | (109.8) | (47.0) | (18.5) | (24.6) | (24.6) | (26.2) | (30.9) |
| EBIT | (65.7) | (53.5) | 75.8 | (57.0) | (53.3) | (37.4) | (111.6) | (111.6) | (51.7) | (20.8) | (27.9) | (27.9) | (30.2) | (34.9) |
| Income Before Tax | (45.3) | (53.5) | 75.8 | (61.6) | (53.3) | (37.4) | (111.6) | (111.6) | (51.7) | (20.8) | (27.9) | (27.9) | (34.9) | (34.9) |
| Income Tax Expense | 0.0 | 0 | 0 | (0.0) | 0.0 | 0 | (0.0) | (0.0) | 0.0 | 0 | (0.0) | (0.0) | (0.1) | (0.1) |
| Net Income | (59.8) | (50.4) | 23.5 | (61.3) | (53.1) | (43.0) | (111.4) | (111.4) | (51.2) | (20.6) | (27.7) | (27.7) | (34.7) | (34.7) |
| Per Share Data | ||||||||||||||
| EPS (Basic) | -0.14 | -0.12 | 0.06 | -0.16 | -0.15 | -0.12 | -0.52 | -0.60 | -1.26 | -1.22 | -0.31 | -0.31 | -0.39 | -0.39 |
| EPS (Diluted) | -0.14 | -0.12 | 0.06 | -0.16 | -0.15 | -0.12 | -0.52 | -0.60 | -1.26 | -0.60 | -0.31 | -0.31 | -0.39 | -0.39 |
| Shares Outstanding | 433.6 | 433.5 | 414.7 | 385.3 | 366.8 | 351.7 | 182.3 | 185.2 | 83.1 | 43.0 | 90.1 | 90.1 | 88.1 | 88.1 |
| Metric | 2026 Q2 | 2026 Q1 | 2025 Q4 | 2025 Q3 | 2025 Q2 | 2025 Q1 | 2024 Q4 | 2024 Q3 | 2024 Q2 | 2024 Q1 | 2023 Q4 | 2023 Q3 | 2023 Q2 | 2023 Q1 | 2022 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | |||||||||||||||
| Cash & Cash Equivalents | 327.1 | 327.1 | 293.5 | 99.0 | 318.5 | 379.2 | 536.0 | 536.0 | 334.8 | 334.8 | 426.0 | 426.0 | 370.1 | 370.1 | 316.3 |
| Short-Term Investments | 787.0 | 740.3 | 872.2 | 345.7 | 289.5 | 250.8 | 209.0 | 209.0 | 138.3 | 138.3 | 163.6 | 163.6 | 163.6 | 163.6 | 261.6 |
| Net Receivables | 56.2 | 50.1 | 35.0 | 37.2 | 34.5 | 30.2 | 36.9 | 36.9 | 35.0 | 35.0 | 37.2 | 37.2 | 18.7 | 18.7 | 34.2 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 4.7 | 49.3 | 50.0 | 59.4 | 59.2 | 56.1 | 52.7 | 0.0 | 50.0 | 0.0 | 39.6 | 0.0 | 42.4 | 0 | 31.5 |
| Total Current Assets | 1,236.8 | 1,166.8 | 1,250.6 | 541.3 | 701.8 | 716.2 | 834.6 | 834.6 | 558.0 | 558.0 | 666.3 | 666.3 | 594.8 | 594.8 | 643.6 |
| Non-Current Assets | |||||||||||||||
| Property, Plant & Equipment | 117.3 | 89.4 | 74.2 | 61.7 | 45.8 | 32.0 | 36.6 | 30.6 | 17.2 | 17.2 | 19.4 | 21.8 | 25.8 | 25.8 | 33.8 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 1.0 | 0 | 0 | 0 | (6.0) | 0 | 0 | 0 | 2.4 | 0 | 0 | 0 | 1.2 |
| Long-Term Investments | 375.7 | 464.6 | 454.9 | 267.6 | 214.1 | 154.2 | 130.8 | 130.8 | 89.3 | 89.3 | 51.7 | 51.7 | 57.7 | 57.7 | 80.7 |
| Other Non-Current Assets | 8.8 | 34.4 | 32.0 | 30.1 | 29.3 | 69.9 | 54.8 | 54.8 | 29.1 | 29.1 | 7.2 | 7.2 | 7.6 | 7.6 | 12.3 |
| Total Non-Current Assets | 501.8 | 588.4 | 562.2 | 359.4 | 289.2 | 256.1 | 216.2 | 216.2 | 135.6 | 135.6 | 80.8 | 80.8 | 91.1 | 91.1 | 127.9 |
| Total Assets | 1,738.6 | 1,755.2 | 1,812.8 | 900.7 | 991.0 | 972.3 | 1,050.8 | 1,050.8 | 693.6 | 693.6 | 747.1 | 747.1 | 686.0 | 686.0 | 771.5 |
| Current Liabilities | |||||||||||||||
| Account Payables | 72.1 | 65.9 | 17.3 | 71.3 | 107.8 | 40.9 | 0 | 2.2 | 0 | 1.9 | 0 | 1.8 | 0 | 2.8 | 0 |
| Short-Term Debt | 0 | 0 | 13.2 | 0 | 0 | 0 | (1.0) | 0 | 3.6 | 0 | 5.1 | 0 | 3.8 | 3.8 | 3.9 |
| Deferred Revenue | 0 | 0 | 1.9 | 0 | 0 | 0 | 3.2 | 0 | 4.1 | 0 | 2.4 | 0 | 7.2 | 0 | 4.9 |
| Other Current Liabilities | 0 | 0 | 1.1 | 0 | 0 | 0 | 11.6 | 40.2 | 12.4 | 21.3 | 2.3 | 24.5 | 6.9 | 20.1 | 4.3 |
| Total Current Liabilities | 77.6 | 72.4 | 91.5 | 76.9 | 113.4 | 45.2 | 70.9 | 70.9 | 41.5 | 41.5 | 48.2 | 48.2 | 45.5 | 45.5 | 48.1 |
| Non-Current Liabilities | |||||||||||||||
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1.9 | 2.0 | 2.0 | 1.5 | 1.5 | 1.4 | 1.4 | 1.4 | 1.6 | 1.6 | 1.5 | 1.5 | 1,258.3 | 0.9 | 1,259.2 |
| Total Non-Current Liabilities | 15.4 | 13.3 | 12.4 | 11.8 | 13.4 | 9.8 | 11.2 | 11.2 | 3.0 | 3.0 | 1,365.1 | 3.8 | 1,260.3 | 3.0 | 1,263.0 |
| Total Liabilities | 93.0 | 85.7 | 103.8 | 88.7 | 126.8 | 55.0 | 82.1 | 82.1 | 44.5 | 44.5 | 1,413.2 | 51.9 | 1,305.8 | 48.5 | 1,311.1 |
| Stockholders' Equity | |||||||||||||||
| Common Stock | 1,575.5 | 0 | 0.2 | 0 | 0.2 | 0 | 0.2 | 0.2 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Retained Earnings | 0 | 0 | (1,422.0) | 0 | (1,384.0) | 0 | (1,287.9) | (1,287.9) | (790.9) | (790.9) | (739.5) | (739.5) | (684.0) | (684.0) | (614.7) |
| Accumulated Other Comprehensive Income | 0 | 0 | (4.5) | 0 | 2.5 | 0 | 10.4 | 10.4 | 8.8 | 8.8 | 4.5 | 4.5 | (3.2) | (3.2) | (0.1) |
| Total Stockholders' Equity | 1,575.5 | 1,614.9 | 1,652.3 | 801.2 | 853.4 | 899.9 | 951.1 | 951.1 | 638.4 | 638.4 | (677.2) | 684.0 | (631.0) | 626.3 | (551.5) |
| Total Liabilities & Equity | 1,738.6 | 1,755.2 | 1,812.8 | 900.7 | 991.0 | 972.3 | 1,050.8 | 1,050.8 | 693.6 | 693.6 | 747.1 | 747.1 | 686.0 | 686.0 | 771.5 |
| Debt Metrics | |||||||||||||||
| Total Debt | 19.0 | 16.4 | 28.9 | 15.1 | 16.8 | 12.1 | 13.8 | 13.8 | 5.0 | 5.0 | 7.4 | 7.4 | 10.2 | 10.2 | 13.0 |
| Net Debt | (308.1) | (310.7) | (264.6) | (83.9) | (301.8) | (367.1) | (522.2) | (522.2) | (329.8) | (329.8) | (418.6) | (418.6) | (359.9) | (359.9) | (303.2) |
| Metric | 2026 Q2 | 2026 Q1 | 2025 Q4 | 2025 Q3 | 2025 Q2 | 2025 Q1 | 2024 Q4 | 2024 Q3 | 2024 Q2 | 2024 Q1 | 2023 Q4 | 2023 Q3 | 2023 Q2 | 2023 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||||||
| Net Income | (59.8) | (50.4) | 80.9 | (61.3) | (53.1) | (43.0) | (180.3) | (111.4) | (51.2) | (25.7) | (55.7) | (27.7) | (68.9) | (34.7) |
| Depreciation & Amortization | 0 | 0 | 6.2 | 0 | 2.7 | 0 | 0 | 1.8 | 4.7 | 2.3 | 6.5 | 3.2 | 7.8 | 3.9 |
| Stock-Based Compensation | 9.0 | 4.6 | 24.2 | 6.6 | 7.2 | 9.0 | 0 | 62.8 | 0 | 2.4 | 0 | 1.0 | 0 | 0.8 |
| Change in Working Capital | 0 | 0 | 23.2 | 0 | (2.8) | 0 | 0 | (3.2) | (4.1) | 0 | (12.7) | (6.3) | (7.0) | (2.9) |
| Other Non-Cash Items | 6.8 | (28.4) | (162.9) | (2.1) | 20.6 | (20.2) | 180.3 | 24.2 | 32.6 | (20.2) | 8.5 | 3.5 | 5.8 | 1.4 |
| Operating Cash Flow | (44.0) | (74.2) | (28.4) | (56.8) | (25.4) | (54.2) | (31.0) | (25.8) | (59.0) | (41.1) | (53.4) | (26.3) | (62.4) | (31.4) |
| Investing Activities | ||||||||||||||
| Capital Expenditure | (32.2) | (12.5) | (123.6) | 56.9 | (14.5) | 0 | (11.4) | (4.7) | (1.9) | 0 | (3.2) | (1.6) | (1.9) | (1.0) |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.0 | 0 | 0.9 | 0 | 0.0 | 0 |
| Purchases of Investments | 0 | 0 | (1,231.0) | 0 | 0 | 0 | 0 | 0 | (274.5) | 0 | (21.8) | 0 | (59.6) | 0 |
| Sales/Maturities of Investments | 0 | 0 | 385.6 | 0 | 0 | 0 | 0 | 0 | 247.8 | 0 | 30.0 | 0 | 192.6 | 0 |
| Other Investing Activities | 85.9 | 119.7 | 287.9 | (127.0) | (52.7) | (93.3) | (66.7) | (71.6) | 0 | 55.3 | 0 | 3.9 | 0 | 66.9 |
| Investing Cash Flow | 53.7 | 107.2 | (601.3) | (127.0) | (67.1) | (93.3) | (78.1) | (76.3) | (28.6) | 54.3 | 5.9 | 2.3 | 131.1 | 66.0 |
| Financing Activities | ||||||||||||||
| Net Debt Issuance | 0 | 0 | 1.8 | 0 | 0 | 0 | 0 | 0 | (0.7) | 0 | (4.3) | 0 | (0.6) | 0 |
| Stock Repurchased | 0 | 0 | 11.6 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (0.1) | 0 | (2.3) | (2.3) |
| Dividends Paid | 0 | 0 | (6.4) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | (1.2) | 0.8 | (0.8) | (34.4) | 33.1 | (9.5) | 0 | 204.0 | 0 | (0.4) | 0 | 49.9 | 4.9 | (2.7) |
| Financing Cash Flow | (1.2) | 0.8 | 825.6 | (34.4) | 33.1 | (9.5) | 408.2 | 204.0 | (0.7) | (0.4) | 100.0 | 49.9 | (5.0) | (5.0) |
| Cash Position | ||||||||||||||
| Net Change in Cash | 2.6 | 33.5 | 195.0 | (218.1) | (60.6) | (156.8) | 536.0 | (335) | (99.1) | 7.9 | 55.9 | (370.5) | 370.5 | (318.5) |
| Cash at Beginning | 329.3 | 295.7 | 100.7 | 318.7 | 379.4 | 536.2 | 240.3 | 335 | 434.1 | 426.2 | 370.1 | 370.5 | 318.1 | 318.5 |
| Cash at End | 331.9 | 329.3 | 295.7 | 100.7 | 318.7 | 379.4 | 536.0 | 240.3 | 334.8 | 434.1 | 426.0 | 0 | 370.1 | 0 |
| Free Cash Flow | (76.2) | (86.7) | (152.0) | 0.1 | (39.9) | (54.2) | (42.4) | (30.6) | (60.9) | (41.1) | (56.6) | (27.9) | (64.3) | (32.4) |
| Key Metrics | 2026 Q2 | 2026 Q1 | 2025 Q4 | 2025 Q3 | 2025 Q2 | 2025 Q1 | 2024 Q4 | 2024 Q3 | 2024 Q2 | 2024 Q1 | 2023 Q4 | 2023 Q3 | 2023 Q2 | 2023 Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||||
| Revenue | 36.2 | 34.2 | 29.3 | 25.4 | 21.5 | 14.0 | 25.2 | 25.2 | 24.7 | 12.5 | 29.8 | 29.8 | 6.1 | 6.1 | |
| Gross Profit | 6.3 | 5.6 | 3.7 | 4.7 | 3.5 | 2.3 | 4.4 | 4.4 | (1.7) | 2.6 | 8.3 | 8.3 | 0.1 | 0.1 | |
| Operating Income | (65.7) | (58.3) | (74.2) | (69.7) | (61.3) | (56.0) | (106.9) | (106.9) | (71.6) | (34.7) | (32.9) | (32.9) | (38.7) | (38.7) | |
| Net Income | (59.8) | (50.4) | 23.5 | (61.3) | (53.1) | (43.0) | (111.4) | (111.4) | (51.2) | (20.6) | (27.7) | (27.7) | (34.7) | (34.7) | |
| EPS (Diluted) | -0.14 | -0.12 | 0.06 | -0.16 | -0.15 | -0.12 | -0.52 | -0.60 | -1.26 | -0.60 | -0.31 | -0.31 | -0.39 | -0.39 | |
| Balance Sheet | |||||||||||||||
| Cash & Equivalents | 327.1 | 327.1 | 293.5 | 99.0 | 318.5 | 379.2 | 536.0 | 536.0 | 334.8 | 334.8 | 426.0 | 426.0 | 370.1 | 370.1 | 316.3 |
| Total Assets | 1,738.6 | 1,755.2 | 1,812.8 | 900.7 | 991.0 | 972.3 | 1,050.8 | 1,050.8 | 693.6 | 693.6 | 747.1 | 747.1 | 686.0 | 686.0 | 771.5 |
| Total Debt | 19.0 | 16.4 | 28.9 | 15.1 | 16.8 | 12.1 | 13.8 | 13.8 | 5.0 | 5.0 | 7.4 | 7.4 | 10.2 | 10.2 | 13.0 |
| Stockholders' Equity | 1,575.5 | 1,614.9 | 1,652.3 | 801.2 | 853.4 | 899.9 | 951.1 | 951.1 | 638.4 | 638.4 | (677.2) | 684.0 | (631.0) | 626.3 | (551.5) |
| Cash Flow | |||||||||||||||
| Operating Cash Flow | (44.0) | (74.2) | (28.4) | (56.8) | (25.4) | (54.2) | (31.0) | (25.8) | (59.0) | (41.1) | (53.4) | (26.3) | (62.4) | (31.4) | |
| Capital Expenditure | (32.2) | (12.5) | (123.6) | 56.9 | (14.5) | 0 | (11.4) | (4.7) | (1.9) | 0 | (3.2) | (1.6) | (1.9) | (1.0) | |
| Free Cash Flow | (76.2) | (86.7) | (152.0) | 0.1 | (39.9) | (54.2) | (42.4) | (30.6) | (60.9) | (41.1) | (56.6) | (27.9) | (64.3) | (32.4) | |