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Pony AI (PONY) Financials

Pony AI logo
$8.29 -0.50 (-5.69%)
Closing price 04:00 PM Eastern
Extended Trading
$8.32 +0.03 (+0.30%)
As of 05:46 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Pony AI

Annual Income Statements for Pony AI

This table shows Pony AI's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -148 -125 -274 -134
Consolidated Net Income / (Loss)		 -296 -250 -549 -211
Net Income / (Loss) Continuing Operations		 -148 -125 -275 -77
Total Pre-Tax Income 		-148 -125 -275 -77
Total Operating Income		 -171 -143 -286 -261
Total Gross Profit		 32 17 11 14
Total Revenue		 68 72 75 90
Operating Revenue		 68 72 75 90
Total Cost of Revenue		 36 55 64 76
Operating Cost of Revenue		 36 55 64 76
Total Operating Expenses		 203 160 297 275
Selling, General & Admin Expense		 49 37 57 58
Research & Development Expense		 154 123 240 217
Total Other Income / (Expense), net		 22 18 11 184
Interest & Investment Income		 8.89 19 20 43
Other Income / (Expense), net		 14 -1.60 -9.86 141
Income Tax Expense		 -0.07 -0.13 0.00 0.00
Net Income / (Loss) Attributable to Noncontrolling Interest		 -0.23 -0.52 -0.89 57
Basic Earnings per Share		 ($1.73) ($1.40) ($2.40) ($0.35)
Weighted Average Basic Shares Outstanding		 85.32M 89.10M 114.32M 379.91M
Diluted Earnings per Share		 ($1.73) ($1.40) ($2.40) ($0.35)
Weighted Average Diluted Shares Outstanding		 85.32M 89.10M 114.32M 379.91M
Weighted Average Basic & Diluted Shares Outstanding		 - - 350.29M 433.54M

Quarterly Income Statements for Pony AI

No quarterly income statements for Pony AI are available.

Annual Cash Flow Statements for Pony AI

This table details how cash moves in and out of Pony AI's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 76 108 110 -240
Net Cash From Operating Activities		 -155 -115 -111 -165
Net Cash From Continuing Operating Activities		 -155 -115 -111 -165
Net Income / (Loss) Continuing Operations		 -148 -125 -275 -77
Consolidated Net Income / (Loss)		 -148 -125 -275 -77
Depreciation Expense		 17 14 8.36 6.22
Non-Cash Adjustments To Reconcile Net Income		 1.13 12 132 -121
Changes in Operating Assets and Liabilities, net		 -24 -16 24 27
Net Cash From Investing Activities		 49 136 -181 -889
Net Cash From Continuing Investing Activities		 49 136 -181 -889
Purchase of Property, Plant & Equipment		 -12 -5.09 -11 -44
Purchase of Investments		 -213 -81 -680 -1,231
Sale of Property, Plant & Equipment		 0.52 0.87 0.05 0.00
Sale and/or Maturity of Investments		 274 222 510 386
Other Investing Activities, net		 - 0.00 0.00 0.02
Net Cash From Financing Activities		 192 90 407 815
Net Cash From Continuing Financing Activities		 192 90 407 815
Repayment of Debt		 0.00 -3.83 0.00 0.00
Repurchase of Preferred Equity		 0.00 -4.80 0.00 0.00
Repurchase of Common Equity		 0.00 -0.99 0.00 0.00
Payment of Dividends		 - 0.00 0.00 -6.44
Issuance of Debt		 3.95 0.00 408 829
Issuance of Preferred Equity		 186 104 0.00 0.00
Other Financing Activities, net		 -6.25 -4.62 -1.02 -8.08
Effect of Exchange Rate Changes		 -11 -3.15 -5.40 -1.18
Cash Income Taxes Paid		 0.01 0.43 0.00 0.00

Quarterly Cash Flow Statements for Pony AI

No quarterly cash flow statements for Pony AI are available.

Annual Balance Sheets for Pony AI

This table presents Pony AI's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 772 747 1,051 1,813
Total Current Assets		 644 666 835 1,251
Cash & Equivalents		 316 426 536 293
Restricted Cash		 1.81 0.05 0.02 1.94
Short-Term Investments		 262 164 209 872
Note & Lease Receivable		 0.00 0.00 - 0.00
Accounts Receivable		 34 37 37 35
Prepaid Expenses		 30 40 53 48
Plant, Property, & Equipment, net		 0.00 0.00 0.00 0.00
Total Noncurrent Assets		 128 81 216 562
Long-Term Investments		 81 52 131 455
Other Noncurrent Operating Assets		 47 29 85 107
Total Liabilities & Shareholders' Equity		 772 747 1,051 1,813
Total Liabilities		 54 52 82 104
Total Current Liabilities		 48 48 71 91
Accounts Payable		 44 44 67 85
Other Current Liabilities		 4.06 3.87 4.34 6.21
Total Noncurrent Liabilities		 5.50 3.78 11 12
Other Noncurrent Operating Liabilities		 5.50 3.78 11 12
Commitments & Contingencies		 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -540 -666 969 1,709
Total Preferred & Common Equity		 -551 -677 951 1,652
Total Common Equity		 -551 -677 951 1,652
Common Stock		 63 58 2,229 3,079
Retained Earnings		 -615 -740 -1,288 -1,422
Accumulated Other Comprehensive Income / (Loss)		 -0.16 4.33 10 -4.90
Other Equity Adjustments		 0.09 0.15 0.22 0.36
Noncontrolling Interest		 12 11 18 57

Quarterly Balance Sheets for Pony AI

No quarterly balance sheets for Pony AI are available.

Annual Metrics And Ratios for Pony AI

This table displays calculated financial ratios and metrics derived from Pony AI's official financial filings.

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 - - - 433,541,553.00
DEI Adjusted Shares Outstanding		 - - - 433,541,553.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - -0.31
Growth Metrics		 - - - -
Revenue Growth		 0.00% 5.14% 4.35% 19.96%
EBITDA Growth		 0.00% 7.08% -119.94% 60.45%
EBIT Growth		 0.00% 7.87% -103.93% 59.46%
NOPAT Growth		 0.00% 16.09% -99.33% 8.64%
Net Income Growth		 0.00% 15.57% -119.53% 61.63%
EPS Growth		 0.00% 19.08% -71.43% 85.42%
Operating Cash Flow Growth		 0.00% 25.42% 4.04% -48.93%
Free Cash Flow Firm Growth		 0.00% 0.00% -147.35% 26.24%
Invested Capital Growth		 0.00% -6.41% 72.45% -6.90%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% 0.00%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% 0.00%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% 0.00%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% 0.00%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 0.00% 0.00%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 0.00%
Profitability Metrics		 - - - -
Gross Margin		 46.89% 23.48% 15.20% 15.73%
EBITDA Margin		 -205.37% -181.51% -382.57% -126.14%
Operating Margin		 -249.63% -199.22% -380.57% -289.84%
EBIT Margin		 -229.89% -201.45% -393.71% -133.05%
Profit (Net Income) Margin		 -433.23% -347.90% -731.93% -234.14%
Tax Burden Percent		 199.74% 199.39% 199.68% 274.53%
Interest Burden Percent		 94.35% 86.61% 93.10% 64.10%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -207.65% -180.00% -272.41% -203.62%
ROIC Less NNEP Spread (ROIC-NNEP)		 -180.89% -156.98% -226.37% -201.37%
Return on Net Nonoperating Assets (RNNOA)		 166.39% 144.60% 206.41% 187.88%
Return on Equity (ROE)		 -41.27% -35.40% -66.01% -15.74%
Cash Return on Invested Capital (CROIC)		 0.00% -173.38% -325.60% -196.48%
Operating Return on Assets (OROA)		 -20.38% -19.08% -32.86% -8.36%
Return on Assets (ROA)		 -38.40% -32.94% -61.08% -14.72%
Return on Common Equity (ROCE)		 31.70% 30.78% -10.86% -15.30%
Return on Equity Simple (ROE_SIMPLE)		 53.72% 36.93% -57.73% 0.00%
Net Operating Profit after Tax (NOPAT)		 -120 -100 -200 -183
NOPAT Margin		 -174.74% -139.46% -266.40% -202.89%
Net Nonoperating Expense Percent (NNEP)		 -26.77% -23.03% -46.04% -2.25%
Return On Investment Capital (ROIC_SIMPLE)		 22.15% 15.05% -20.63% -10.68%
Cost of Revenue to Revenue		 53.11% 76.52% 84.80% 84.27%
SG&A Expenses to Revenue		 71.91% 52.04% 75.64% 64.00%
R&D to Revenue		 224.61% 170.67% 320.13% 241.57%
Operating Expenses to Revenue		 296.52% 222.71% 395.77% 305.57%
Earnings before Interest and Taxes (EBIT)		 -157 -145 -295 -120
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -140 -131 -287 -114
Valuation Ratios		 - - - -
Price to Book Value (P/BV)		 0.00 0.00 1.72 3.33
Price to Tangible Book Value (P/TBV)		 0.00 0.00 1.72 3.33
Price to Revenue (P/Rev)		 3.80 3.62 21.87 61.21
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 15.10 18.40 8.42 45.60
Enterprise Value to Revenue (EV/Rev)		 12.71 13.78 10.43 43.81
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - -
Debt to Equity		 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00
Financial Leverage		 -0.92 -0.92 -0.91 -0.93
Leverage Ratio		 1.07 1.07 1.08 1.07
Compound Leverage Factor		 1.01 0.93 1.01 0.69
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 176.82% 197.42% 1.82% 3.32%
Common Equity to Total Capital		 -76.82% -97.42% 98.18% 96.68%
Debt to EBITDA		 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00
Altman Z-Score		 2.14 2.07 10.29 31.33
Noncontrolling Interest Sharing Ratio		 176.82% 186.95% 83.54% 2.78%
Liquidity Ratios		 - - - -
Current Ratio		 13.38 13.83 11.77 13.67
Quick Ratio		 12.73 13.01 11.03 13.13
Cash Flow Metrics		 - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -97 -239 -176
Operating Cash Flow to CapEx		 -1,344.29% -2,733.80% -976.27% -376.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - -
Asset Turnover		 0.09 0.09 0.08 0.06
Accounts Receivable Turnover		 2.00 2.01 2.02 2.50
Inventory Turnover		 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.82 1.25 1.15 1.00
Days Sales Outstanding (DSO)		 182.56 181.32 180.27 145.71
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 442.58 293.05 317.97 365.31
Cash Conversion Cycle (CCC)		 -260.01 -111.73 -137.70 -219.60
Capital & Investment Metrics		 - - - -
Invested Capital		 58 54 93 86
Invested Capital Turnover		 1.19 1.29 1.02 1.00
Increase / (Decrease) in Invested Capital		 0.00 -3.69 39 -6.41
Enterprise Value (EV)		 869 991 782 3,943
Market Capitalization		 260 260 1,640 5,509
Book Value per Share		 ($6.46) ($7.60) $8.32 $4.72
Tangible Book Value per Share		 ($6.46) ($7.60) $8.32 $4.72
Total Capital		 718 695 969 1,709
Total Debt		 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00
Net Debt		 -660 -641 -876 -1,623
Capital Expenditures (CapEx)		 12 4.22 11 44
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 16 29 19 -8.42
Debt-free Net Working Capital (DFNWC)		 595 618 764 1,159
Net Working Capital (NWC)		 595 618 764 1,159
Net Nonoperating Expense (NNE)		 177 150 349 28
Net Nonoperating Obligations (NNO)		 -660 -641 -876 -1,623
Total Depreciation and Amortization (D&A)		 17 14 8.36 6.22
Debt-free, Cash-free Net Working Capital to Revenue		 23.04% 39.75% 24.93% -9.35%
Debt-free Net Working Capital to Revenue		 870.75% 859.79% 1,017.98% 1,287.95%
Net Working Capital to Revenue		 870.75% 859.79% 1,017.98% 1,287.95%
Earnings Adjustments		 - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 ($2.40) ($0.35)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 114.32M 379.91M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 ($2.40) ($0.35)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 114.32M 379.91M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 350.29M 433.54M
Normalized Net Operating Profit after Tax (NOPAT)		 -120 -100 -200 -183
Normalized NOPAT Margin		 -174.74% -139.46% -266.40% -202.89%
Pre Tax Income Margin		 -216.89% -174.49% -366.55% -85.29%
Debt Service Ratios		 - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00
Payout Ratios		 - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% -3.05%
Augmented Payout Ratio		 0.00% -0.40% 0.00% -3.05%

Quarterly Metrics And Ratios for Pony AI

No quarterly metrics and ratios for Pony AI are available.


Financials Breakdown Chart

Pony AI Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Pony AI's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Pony AI's net income for the last 5 years looks like this:
  • 2022: -$296.27 million
  • 2023: -$250.14 million
  • 2024: -$549.13 million
  • 2025: -$210.73 million
See Pony AI's forecast for analyst expectations on what's next for the company.

Pony AI's total operating income in 2025 was -$260.86 million, based on the following breakdown:
  • Total Gross Profit: $14.16 million
  • Total Operating Expenses: $275.02 million

Over the last 3 years, Pony AI's total revenue changed from $68.39 million in 2022 to $90.00 million in 2025, a change of 31.6%.

Pony AI's total liabilities were at $103.84 million at the end of 2025, a 26.5% increase from 2024, and a 93.7% increase since 2022.

In the past 3 years, Pony AI's cash and equivalents has ranged from $293.49 million in 2025 to $535.98 million in 2024, and is currently $293.49 million as of their latest financial filing in 2025.

Over the last 3 years, Pony AI's book value per share changed from -6.46 in 2022 to 4.72 in 2025, a change of -173.0%.


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Financial statements for NASDAQ:PONY last updated on 4/23/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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