China's Pony AI Robotaxi Revenue Jumps 200%, Eyes 1,000-Vehicle Fleet
China-based Pony AI Inc (NASDAQ:PONY) stock gained on Tuesday premarket after the company disclosed its first-quarter results.
Sales grew 11.6% year-over-year to $13.98 million (101.6 million Chinese yuan), mainly driven by rapid growth in Robotaxi services revenues. The analyst consensus estimate for sales was 90.11 million Chinese yuan.
Robotaxi services revenue climbed 200.3% Y/Y to $1.7 million in the quarter, primarily attributable to expanding its public-facing fare-charging operations in Tier-one cities in China and refined operational strategies for diverse user groups.Meanwhile, Robotruck services revenue surged 4.2% Y/Y to $7.8 million, mainly due to contributions from new clients.
Gross profit fell 11.8% Y/Y to $2.3 million, with a margin contraction of 440 bps to 16.6%, mainly due to changes in the revenue mix with increased ADC sales for new robot delivery clients in the first quarter.
The company reported a loss of 10 cents (or 0.73 Chinese yuan) per share, compared to a loss of 28 cents in the prior year's quarter. The analyst consensus loss estimate was 0.07 Chinese yuan.
As of March 31, 2025, cash and cash equivalents, short-term investments, and restricted cash stood at $738.5 million.
Co-founder and Chief Executive Officer Dr. James Peng said the unveiling of the seventh-generation autonomous driving system (Gen 7) enabled it to reduce bill-of-materials (BOM) costs by 70% and made it confident about expanding the fleet to 1,000 vehicles by year-end.
Co-founder and Chief Technology Officer Dr. Tiancheng Lou said its Gen 7 Robotaxis accomplished full-scenario L4 autonomous driving on automotive-grade chips. It remains on track to scale mass production and deployment in 2025.
Price Action: PONY shares are trading higher by 17.6% to $19.90 premarket at last check Tuesday.
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This article China's Pony AI Robotaxi Revenue Jumps 200%, Eyes 1,000-Vehicle Fleet originally appeared on Benzinga.com
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