Pony.ai Expands Driverless Robotaxi Services in Shenzhen, Advancing Autonomous Mobility Commercialization

Pony AI Inc. Expands Fully Driverless Commercial Robotaxi Services in Shenzhen Nanshan District, Accelerating the Commercialization of Autonomous Mobility for Everyday Travel - Pony AI (NASDAQ:PONY)

SHENZHEN, China, March 27, 2025 (GLOBE NEWSWIRE) -- Pony AI Inc. ("Pony.ai" or the "Company") PONY, a global leader in achieving large-scale commercialization of autonomous mobility, today announced that it has received the license to provide fully driverless commercial Robotaxi services in Shenzhen's Nanshan District. This milestone follows the successful launch of its paid robotaxi services in the neighboring Bao'an District. Pony.ai is the first and only company to receive approval for fully driverless commercial robotaxi services in Nanshan District, another critical step in its drive to commercialize autonomous across one of China's most dynamic cities. Nanshan District, renowned for its ultramodern infrastructure, offers a unique blend of business, entertainment, and leisure. With a population nearing 2 million across almost 200 square kilometers, Nanshan far exceeds many global urban cities in scale such as San Francisco, which has approximately 800,000 residents across approximately 120 square kilometers. More importantly, Nanshan's GDP has reached close to RMB1 trillion in 2024, ranking first in Guangdong Province and among the top three districts in China. The district is home to several of Shenzhen's most iconic destinations, including China Resources Tower, a major business hub with the upscale retail complex MixC Shenzhen Bay at its base; Coastal City, a bustling shopping center; and Shenzhen Bay Park, one of the most popular scenic parks in the city. By deploying its paid robotaxi services to this vibrant district and these landmark locations, Pony.ai provides convenient, efficient, and innovative transportation solutions that enhance the overall experience for residents and visitors. This achievement showcases Pony.ai's technological leadership, reinforcing its position at the forefront of the industry and accelerating the large-scale commercialization of its autonomous mobility solutions. Dr. James Peng, co-founder and CEO of Pony.ai, commented, "Expanding our fully driverless commercial robotaxi services to the vibrant Nanshan District will accelerate public adoption, as well as inspire confidence and trust in fully driverless technology as we deploy its application to daily urban use cases. Navigating Shenzhen's dense urban environment under all weather conditions - with complex road networks and heavy traffic - will further validate the readiness, reliability, and adaptability of our technology for large-scale deployment. As one of the few companies globally with fully driverless autonomous driving solutions, we remain firmly focused on scaling our robotaxi operations and guiding the industry into its next phase of development." Since receiving Shenzhen's first city-level driverless pilot license to operate intelligent connected vehicles in August 2023, Pony.ai has rapidly expanded its robotaxi services network to connect the city's core districts. With the expansion into Nanshan District, Pony.ai's robotaxi services now cover Shenzhen's key economic and transportation hubs, seamlessly linking downtown areas, major transit points, highways, and business centers, such as Shenzhen Bao'an International Airport, Shenzhen Bay Port, and Qianhai Free Trade Zone. Users can now conveniently book rides across these areas through the PonyPilot App or WeChat Mini Program. To date, Pony.ai has accumulated approximately 45 million kilometers of autonomous driving mileage, including approximately 5 million driverless kilometers. Its robotaxi services are gaining strong traction and generating consistently positive user feedback on the experience, with average daily orders per vehicle reaching approximately 15 in 2024. About Pony AI Inc. Pony AI Inc. is a global leader in achieving large-scale commercialization of autonomous mobility. Leveraging its vehicle-agnostic Virtual Driver technology, a full-stack autonomous driving technology that seamlessly integrates Pony.ai's proprietary software, hardware, and services, Pony.ai is developing a commercially viable and sustainable business model that enables the mass production and deployment of vehicles across transportation use cases. Founded in 2016, Pony.ai has expanded its presence across China, Europe, East Asia, the Middle East and other regions, ensuring widespread accessibility to its advanced technology. For more information, please visit: http://ir.pony.ai. This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to," and similar statements. Statements that are not historical facts, including statements about Pony.ai's beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in Pony.ai's filings with the SEC. All information provided in this press release is as of the date of this press release, and Pony.ai does not undertake any obligation to update any forward-looking statement, except as required under applicable law. For investor and media inquiries, please contact: Pony.ai Investor Relations Email: ir@pony.ai Media Relations Email: media@pony.ai Christensen Advisory Email: pony@christensencomms.com PONYPony AI Inc$10.11-8.34%Stock Score Locked: Want to See it? 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Pony AI Expands In China With Cross-District Robotaxi Network - Pony AI (NASDAQ:PONY)

Markets are swinging wildly, but for Matt Maley, it's just another opportunity to trade. His clear, simple trade alerts have helped members lock in gains as high as 100% and 450%. Now, you can get his next trade signal -- completely free. On Friday, Pony AI Inc PONY became the first company authorized to operate a paid, fully driverless robotaxis in Shenzhen's Nanshan District on March 27. The company expanded commercial operations to connect Nanshan with its existing service zone in Baoan District, covering two of Shenzhen's most dynamic urban areas. Nanshan District is Shenzhen's economic powerhouse, with a GDP nearing 1 trillion Chinese yuan in 2024 and close to 2 million residents, surpassing cities like San Francisco. Also Read: Baidu's AI Cloud, Robotaxi Growth And Accelerated Buybacks Position It For Strong 2025: Analyst This expansion builds on Pony.ai's successful launch of robotaxi services in Shenzhen's Baoan District in 2024, where more than 4 million people reside. The latest permit enables the company to establish Shenzhen's first cross-district driverless network, linking Nanshan's tech hubs (including Qianhai, Houhai, and Shenzhen Bay) with Baoan's central areas and critical infrastructure such as Shenzhen Baoan International Airport. Commuters now enjoy seamless connectivity between business, residential, and transport hubs. The company continues to lead autonomous mobility innovation across China's tier-1 cities. Fully driverless robotaxis in Beijing and Guangzhou averaged over 15 daily paid rides per vehicle in the first six months of 2024. Pony AI has accumulated nearly 45 million kilometers in autonomous testing, including 5 million kilometers in driverless mode. Pony AI stock declined over 15% in the last 12 months. Pony AI reported a fourth-quarter sales decline of 29.8% to $35.52 million. Robotaxi services revenue dipped 61.9% to $2.6 million. Robotruck services revenue surged 72.7% to $12.9 million. The company reported an adjusted EPS loss of 31 cents versus 20 cents loss a year ago. Other Robotaxi Services In February, Chinese autonomous startup WeRide Inc WRD bagged approval to deploy its latest Robotaxi, the GXR, for fully driverless ride-hailing services in Beijing. It marks the WeRide's second Robotaxi model to operate without a safety driver in the city and GXR's first major commercial rollout in China, following its debut on Uber Technologies, Inc's UBER platform in Abu Dhabi last December. In March, the California Public Utilities Commission (CPUC) approved Tesla Inc's TSLA application for a transportation charter-party carrier permit (TCP), which allows the company to manage a fleet of vehicles for pre-arranged trips. Elon Musk pivoted to robotaxis amid slowing sales, promising driverless services in California and Texas this year. In October, Tesla launched the Cybercab, a concept robotaxi without steering or pedals. Price Action: PONY stock is up 1.38% at $10.30 premarket at last check Friday. Also Read: Uber and Lyft Adapt Robotaxi Strategy to Compete in Tesla and Waymo's Space Image via Pony AI PONYPony AI Inc$10.281.18%Stock Score Locked: Want to See it? Benzinga Rankings give you vital metrics on any stock - anytime. Reveal Full ScoreEdge RankingsMomentum-Growth-Quality-Value30.59Price TrendShortMediumLongOverviewTSLATesla Inc$276.331.17%UBERUber Technologies Inc$74.70-0.21%WRDWeRide Inc$15.30-0.39%Market News and Data brought to you by Benzinga APIs

Pony AI Inc. Announces Unaudited Fourth Quarter and Full Year 2024 Financial Results - Pony AI (NASDAQ:PONY)

NEW YORK, March 25, 2025 (GLOBE NEWSWIRE) -- Pony AI Inc. ("Pony.ai" or the "Company") PONY, a global leader in the large-scale commercialization of autonomous mobility, today announced its unaudited financial results for the quarter and full year ended December 31, 2024. Dr. James Peng, Co-founder and Chief Executive Officer of Pony.ai, commented, "2024 marked a milestone year for Pony.ai as we transitioned to a public company. Our robotaxi-first, China-first, and tier-one cities-first approach has positioned us at the forefront of the race towards large-scale commercialization. The strategic partnerships with OEMs we have developed, also empowers us to rapidly scale production of our seventh-generation robotaxi. In 2025, we aim to build upon this momentum and accelerate beyond the inflection point of scaled commercialization, building a world with safer, more efficient, and accessible autonomous mobility." Dr. Tiancheng Lou, Co-founder and Chief Technology Officer of Pony.ai, added, "Our years of engineering efforts have yielded cutting-edge technology that ensures the highest levels of safety at effective costs, and supports our large-scale operations. Reinforcement learning and PonyWorld generative virtual environment are powering our autonomous driving system with smarter decisions in complex real-world conditions. Notably, our robotaxi safety record has improved by 16 times and has driven insurance policy prices down to roughly 50% that of human-driven taxis - all these are clear indicators of safety and reliability in our technology." Dr. Leo Wang, Chief Financial Officer of Pony.ai, commented, "We are proud of our revenue growth over the past three consecutive years, showcasing our ability to commercialize our leading autonomous mobility solutions. While the near-term financials reflected our strategic resource allocation to support the mass production and deployment of robotaxi services, we remain focused on improving unit economics in 2025. Our successful IPO has enhanced our financial strength and flexibility, providing us with ample capital for disciplined production scale-up and R&D investments." Recent Developments Expanding Operations and Regulatory Approvals Expansion of Paid Robotaxi Services in Beijing On March 13, 2025, Pony.ai launched the first-ever paid robotaxi service at a major railway hub in urban Beijing, connecting Beijing South Railway Station and Yizhuang, the southeast suburb of Beijing. As one of the first companies to receive approval to test autonomous vehicles on highways in Beijing, Pony.ai can now offer autonomous ride-hailing services that connect key transport hubs such as Beijing South Railway Station, Beijing Daxing Airport, and Yizhuang Railway Station. Going forward, the Company plans to gradually expand its robotaxi services to Beijing city center. Partnership with ComfortDelGro to Jointly Launch Robotaxi Pilot Program in Guangzhou On March 12, 2025, Pony.ai and ComfortDelGro Corporation Limited ("ComfortDelGro"), a leading multi-modal transport operator, jointly launched a robotaxi pilot program in Guangzhou. This follows the signing of a Memorandum of Understanding (MoU) in June 2024. The program will deploy multiple autonomous vehicles for ride-hailing services across the city. Pony.ai will provide daily technical support with ComfortDelGro leveraging its expertise in large-scale fleet management to ensure service quality and handle customer support. Expansion of Paid Robotaxi Services in Guangzhou On February 21, 2025, Pony.ai launched paid robotaxi services connecting multiple locations in Guangzhou's city center to Guangzhou Baiyun International Airport and Guangzhou South Railway Station. Notably, Pony.ai is the first and only company approved to provide robotaxi services on these high-demand routes. This expansion not only marks a major step in the integration of autonomous driving with the dynamic urban landscape of Guangzhou but also signifies another milestone in the Company's commercialization of autonomous mobility. First Company in China Approved for Autonomous Truck Platooning Tests In December 2024, Pony.ai became the first company in China approved for robotruck platooning tests on cross-provincial highways connecting Beijing, Tianjin, and Hebei Province. This approval allows the Company to operate robotrucks in a "1+N" platoon, with only the lead truck requiring a safety operator, and the following trucks operating autonomously. Pony.ai will commence platooning tests on the Beijing-Tianjin-Tanggu Expressway, advancing toward fully autonomous truck platoons to enhance logistics efficiency. Partnership with Amap to Expand Robotaxi Services in Guangzhou On October 14, 2024, Pony.ai partnered with Amap, a leading provider of digital map, navigation and real-time traffic information in China and part of Alibaba Group, to integrate its robotaxis into Amap's ride-hailing services. This partnership allows users in Guangzhou's Nansha district to book rides in Pony.ai robotaxis through the Amap app, offering a futuristic, driverless travel experience. Both companies expect to expand this service to additional cities and regions in the future. Mass Production Updates Strategic Cooperation with GAC Aion to Develop Next-generation Robotaxi On December 11, 2024, Pony.ai and Guangzhou Automobile Group Co., Ltd. ("GAC") Aion, the new energy vehicle division of GAC, signed a strategic cooperation agreement to jointly develop a fully driverless, mass-produced robotaxi, advancing the commercialization of Pony.ai's leading autonomous driving technology. The new fully driverless robotaxi will integrate Pony.ai's seventh-generation autonomous driving system into GAC Aion's global version of the vehicle. Both companies expect to produce over 1,000 robotaxis with the first deliveries expected in 2025. Initial deployment will be in China's Greater Bay Area, with plans for future expansion to other regions and markets. Partnership with BAIC BJEV for L4 Robotaxi Development On October 31, 2024, Pony.ai and Beijing Automotive Industry Corporation Beijing Electric Vehicle Co., Ltd. ("BAIC BJEV"), the new energy vehicle arm of Beijing Automotive Group Co., Ltd., officially signed a technical cooperation agreement to develop L4 robotaxis using the ARCFOX αT5 model equipped with Pony.ai's seventh-generation autonomous driving system, including both hardware and software stacks. The first batch of ARCFOX αT5 robotaxis are expected to launch in 2025, targeting the Chinese market. Beyond vehicle development, both companies will also cooperate on brand marketing, promotional activities, supply chain management, and vehicle sales to expand the adoption of intelligent technologies internationally and drive the growth of the autonomous driving industry in China. Expanding Global Footprint Secured Autonomous Driving Test Permit in Seoul On December 26, 2024, Pony.ai collaborated with PonyLink (formerly GemVaxLink) to secure a temporary autonomous driving test permit from South Korea's Ministry of Land, Infrastructure, and Transport. The Company began public road testing in Seoul's Gangnam district, covering 32 roads across 20.4 km². This marks a significant milestone in the global expansion of Pony.ai's autonomous driving technology. The test fleet is composed of Hyundai KONA Electric vehicles featuring Pony.ai's sixth-generation autonomous driving system, making it the world's first fleet of robotaxis to operate fully autonomously with automotive-grade solid-state LiDAR technology. Expanding European Reach with Partnership in Luxembourg On October 23, 2024, Pony.ai Europe, the European division of the Company, signed a MoU with Emile Weber Group, Luxembourg's leading transport company, to advance the development of autonomous mobility in the Grand Duchy. Building on a March 2024 agreement with the Government of Luxembourg, Pony.ai established its European hub in Luxembourg in September 2024 which serves as a center for advanced R&D and the development of customized solutions for the European market. This milestone further advanced Pony.ai's European expansion in 2024. Unaudited Fourth Quarter 2024 Financial Results Revenues Total revenues were US$35.5 million in the fourth quarter of 2024, representing a decrease of 29.8% from US$50.6 million in the fourth quarter of 2023. The decrease was mainly influenced by the timing of project-based revenue recognition, partially offset by an increase in other revenues. Robotaxi services were US$2.6 million in the fourth quarter of 2024, representing a decrease of 61.9% from US$6.7 million in the fourth quarter of 2023. The decrease was mainly driven by reduced service fees from providing autonomous vehicle engineering solutions based on our collaboration projects' progression schedule. The decrease was partially offset by a significant increase in passenger fares driven by the expansion of our public-facing fare-charging robotaxi operations in Tier-one cities in China. Robotruck services were US$12.9 million in the fourth quarter of 2024, representing an increase of 72.7% from US$7.5 million in the fourth quarter of 2023. The increase was mainly due to the expansion of robotruck fleet operations into new regions. Licensing and applications were US$20.0 million in the fourth quarter of 2024, representing a decrease of 45.0% from US$36.4 million in the fourth quarter of 2023. The decrease was mainly influenced by the timing of project-based revenue recognition. Cost of Revenues Total cost of revenues was US$28.1 million in the fourth quarter of 2024, representing a decrease of 16.1% from US$33.4 million in the fourth quarter of 2023, in-line with revenue trend and revenue mix. Gross Profit and Gross Margin Gross profit was US$7.5 million in the fourth quarter of 2024, representing a decrease of 56.5% from US$17.1 million in the fourth quarter of 2023. Gross margin was 21.0% in the fourth quarter of 2024, compared to 33.9% in the fourth quarter of 2023. The decrease was mainly due to changes in the revenue mix. Operating Expenses Operating expenses were US$180.6 million in the fourth quarter of 2024, representing an increase of 313.9% from US$43.6 million in the fourth quarter of 2023. Non-GAAP1 operating expenses were US$55.7 million in the fourth quarter of 2024, representing an increase of 30.0% from US$42.8 million in the fourth quarter of 2023. Research and development expenses were US$147.8 million in the fourth quarter of 2024, representing an increase of 375.7% from US$31.1 million in the fourth quarter of 2023. The increase was mainly due to i) share-based compensation expenses recognized related to the share awards granted to employees with a performance condition related to the IPO; and ii) accelerated research and development investments in the fourth quarter of 2024 to support the seventh-generation vehicle development in collaboration with our original equipment manufacturer ("OEM") partners. Non-GAAP research and development expenses were US$46.3 million, representing an increase of 50.6% from US$30.8 million in the fourth quarter of 2023. Selling, general and administrative expenses were US$32.7 million in the fourth quarter of 2024, representing an increase of 160.9% from US$12.5 million in the fourth quarter of 2023. The increase was mainly due to share-based compensation expenses recognized related to the share awards granted to employees with a performance condition related to the IPO. Non-GAAP selling, general and administrative expenses were US$9.3 million, representing a decrease of 22.6% from US$12.1 million in the fourth quarter of 2023. Loss from Operations Loss from operations was US$173.1 million in the fourth quarter of 2024, compared to US$26.5 million in the fourth quarter of 2023. Non-GAAP loss from operations was US$48.2 million, compared to US$25.7 million in the fourth quarter of 2023. Net Loss Net loss was US$181.1 million in the fourth quarter of 2024, compared to US$20.7 million in the fourth quarter of 2023. Non-GAAP net loss was US$56.2 million in the fourth quarter of 2024, compared to US$18.2 million in the fourth quarter of 2023. 1 Non-GAAP financial measures exclude share-based compensation expenses and changes in fair value of warrants liability, and such adjustment has no impact on income tax. For further details, see the "Unaudited Reconciliation of U.S. GAAP and Non-GAAP Results" set forth at the end of this press release. Basic and Diluted Loss per ordinary share Basic and diluted net loss per ordinary share was both US$0.99 in the fourth quarter of 2024, compared to US$0.23 in the fourth quarter of 2023. Non-GAAP basic and diluted net loss per ordinary share was both US$0.31 in the fourth quarter of 2024, compared to US$0.20 in the fourth quarter of 2023. Each ADS represents one Class A ordinary share. Balance Sheet Cash and cash equivalents, short-term investments and restricted cash were US$745.2million as of December 31, 2024, compared to US$589.8 million as of December 31, 2023. Long-term investments was US$130.8 million as of December 31, 2024, compared to US$51.7 million as of December 31, 2023. Of which long-term debt instruments for wealth management was US$79.9 million, compared to US$1.9 million as of December 31, 2023. Unaudited Full Year 2024 Financial Results Revenues Total revenues were US$75.0 million in 2024, representing an increase of 4.3% from US$71.9 million in 2023. Robotaxi services were US$7.3 million in 2024, representing a decrease of 5.3% from US$7.7 million in 2023. The decrease was mainly driven by reduced service fees from providing autonomous vehicle engineering solutions based on our collaboration projects' progression schedule. The decrease was partially offset by a significant increase in passenger fares driven by the expansion of our public-facing fare-charging robotaxi operations in Tier-one cities in China. Robotruck services were US$40.4 million in 2024, representing an increase of 61.3% from US$25.0 million in 2023. The increase was mainly due to the expansion of robotruck fleet operations into new regions. Licensing and applications were US$27.3 million in 2024, representing a decrease of 30.1% from US$39.2 million in 2023. The decrease was mainly influenced by the timing of project-based revenue recognition. Cost of Revenues Total cost of revenues was US$63.6 million in 2024, representing an increase of 15.6% from US$55.0 million in 2023, in line with revenue trend and revenue mix. Gross Profit and Gross Margin Gross profit was US$11.4 million in 2024, representing a decrease of 32.5% from US$16.9 million in 2023. Gross margin was 15.2% in 2024, compared to 23.5% in 2023. The decrease was mainly due to services with relatively lower gross margin contributed increasingly to our revenues in 2024 compared to 2023. Operating Expenses Operating expenses were US$296.9 million in 2024, representing an increase of 85.4% from US$160.1 million in 2023. Non-GAAP operating expenses were US$169.9 million in 2024, representing an increase of 8.7% from US$156.4 million in 2023. Research and development expenses were US$240.2 million in 2024, representing an increase of 95.7% from US$122.7 million in 2023. The increase was mainly due to i) share-based compensation expenses recognized related to the share awards granted to employees with a performance condition related to the IPO; and ii) accelerated research and development investments in the fourth quarter of 2024 to support the seventh-generation vehicle development in collaboration with our OEM partners. Non-GAAP research and development expenses were US$137.8 million, representing an increase of 14.0% compared to US$120.9 million in 2023. Selling, general and administrative expenses were US$56.7 million in 2024, representing an increase of 51.7% from US$37.4 million in 2023. The increase was mainly due to share-based compensation expenses recognized related to the share awards granted to employees with a performance condition related to the IPO. Non-GAAP selling, general and administrative expenses were US$32.1 million, representing a decrease of 9.5% compared to US$35.5 million in 2023. Loss from Operations Loss from operations was US$285.5 million in 2024, compared to US$143.2 million in 2023. Non-GAAP loss from operations was US$158.5 million in 2024, compared to US$139.5 million in 2023. Net Loss Net loss was US$275.0 million in 2024, compared to US$125.3 million in 2023. Non-GAAP net loss was US$153.6 million in 2024, compared to US$118.5 million in 2023. Basic and Diluted Net Loss per ordinary share Basic and diluted net loss per ordinary share was both US$2.40 in 2024, compared to US$1.40 in 2023. Non-GAAP basic and diluted net loss per ordinary share was both US$1.34 in 2024, compared to US$1.32 in 2023. Each ADS represents one Class A ordinary share. Conference Call Pony.ai will hold a conference call at 8:00 AM U.S. Eastern Time on Tuesday, March 25, 2025 (8:00 PM Beijing/Hong Kong Time on the same day) to discuss financial results and answer questions from investors and analysts. For participants who wish to join the call, please complete online registration using the link provided below prior to the scheduled call start time. Upon registration, participants will receive a confirmation email containing dial-in numbers, passcode, and a unique access PIN. Participant Online Registration: https://dpregister.com/sreg/10197111/fe90682903 A replay of the conference call will be accessible through April 1, 2025, by dialing the following numbers: United States:1-877-344-7529International:1-412-317-0088Replay Access Code:7405983 Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at https://ir.pony.ai. Non-GAAP Financial Measures The Company uses non-GAAP financial measures, such as non-GAAP research and development expenses, non-GAAP selling, general and administrative expenses, non-GAAP operating expenses, non-GAAP loss from operations, non-GAAP net loss, non-GAAP net loss attributable to Pony AI Inc., non-GAAP basic and diluted net loss per ordinary share, in evaluating its operating results and for financial and operational decision-making purposes. By excluding the impact of share-based compensation expenses and changes in fair value of warrants liability, the Company believes that the non-GAAP financial measures help identify underlying trends in its business and enhance the overall understanding of the Company's past performance and future prospects. The Company also believes that the non-GAAP financial measures allow for greater visibility with respect to key metrics used by the Company's management in its financial and operational decision-making. The non-GAAP financial measures are not presented in accordance with U.S. GAAP and may be different from non-GAAP methods of accounting and reporting used by other companies. The non-GAAP financial measures have limitations as analytical tools and when assessing the Company's operating performance, investors should not consider them in isolation, or as a substitute for financial information prepared in accordance with U.S. GAAP. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure. The Company mitigates these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating the Company's performance. For more information on the non-GAAP financial measures, please see the table captioned "Unaudited Reconciliation of U.S. GAAP and Non-GAAP Results" set forth at the end of this press release. About Pony AI Inc. Pony AI Inc. is a global leader in the large-scale commercialization of autonomous mobility. Leveraging its vehicle-agnostic Virtual Driver technology, a full-stack autonomous driving technology that seamlessly integrates Pony.ai's proprietary software, hardware, and services, Pony.ai is developing a commercially viable and sustainable business model that enables the mass production and deployment of vehicles across transportation use cases. Founded in 2016, Pony.ai has expanded its presence across China, Europe, East Asia, the Middle East and other regions, ensuring widespread accessibility to its advanced technology. For more information, please visit: https://ir.pony.ai. This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to," and similar statements. Statements that are not historical facts, including statements about Pony.ai's beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in Pony.ai's filings with the SEC. All information provided in this press release is as of the date of this press release, and Pony.ai does not undertake any obligation to update any forward-looking statement, except as required under applicable law. For investor and media inquiries, please contact: Pony.ai Investor Relations Email: ir@pony.ai Pony.ai Media Relations Email: media@pony.ai Christensen Advisory Email: pony@christensencomms.com Pony AI Inc. Unaudited Condensed Consolidated Balance Sheets (All amounts in USD thousands, except share and per share data) As ofAs ofDecember 31, 2023 December 31, 2024 AssetsCurrent assets:Cash and cash equivalents425,960 535,976Restricted cash, current49 21Short-term investments163,594 209,035Accounts receivable, net31,580 28,555Amounts due from related parties, current5,650 8,322Prepaid expenses and other current assets39,513 52,713Total current assets666,346 834,622Non-current assets: Restricted cash, non-current196 175Property, equipment and software, net15,420 17,241Operating lease right-of-use assets6,419 13,342Long-term investments51,712 130,799Prepayment for long-term investments - 52,823Other non-current assets7,024 1,819 Total non-current assets80,771 216,199Total assets747,117 1,050,821Liabilities, Mezzanine Equity and Shareholders' Deficit Current liabilities: Accounts payable and other current liabilities44,299 66,548Operating lease liabilities, current3,866 3,438Amounts due to related parties, current - 900Total current liabilities48,165 70,886Operating lease liabilities, non-current2,246 9,835Other non-current liabilities1,533 1,389Total liabilities51,944 82,110Total mezzanine equity1,361,278 - Total Pony AI Inc. shareholders' (deficit) equity(677,250)951,122Non-controlling interests11,145 17,589Total shareholders' (deficit) equity(666,105)968,711Total liabilities, mezzanine equity and shareholders' (deficit) equity747,117 1,050,821 Pony AI Inc. Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss (All amounts in USD thousands, except share and per share data) Three Months Ended Year EndedDecember 31, 2023 December 31, 2024 December 31, 2023 December 31, 2024 Revenues50,595 35,516 71,899 75,025 Cost of revenues(33,447) (28,060) (55,015) (63,622)Gross profit17,148 7,456 16,884 11,403 Operating expenses: Research and development expenses(31,080) (147,840) (122,707) (240,179)Selling, general and administrative expenses(12,538) (32,714) (37,417) (56,747)Total operating expenses(43,618) (180,554) (160,124) (296,926)Loss from operations(26,470) (173,098) (143,240) (285,523)Investment income5,526 5,336 19,389 20,378 Changes in fair value of warrants liability(1,715) - (3,030) 5,617 Other income (expenses), net1,925 (13,356) 1,427 (15,477)Loss before income tax(20,734) (181,118) (125,454) (275,005)Income tax benefits (expenses)4 - 126 (1)Net loss(20,730) (181,118) (125,328) (275,006)Net loss attributable to non-controlling interests(147) (204) (516) (885)Net loss attributable to Pony AI Inc.(20,583) (180,914) (124,812) (274,121)Foreign currency translation adjustments2,084 (4,900) (3,841) (2,952)Unrealized gain on available-for-sale investments2,247 19,359 8,089 16,089 Total other comprehensive income4,331 14,459 4,248 13,137 Total comprehensive loss(16,399) (166,659) (121,080) (261,869)Less: Comprehensive income (loss) attributable to non-controlling interests59 6,835 (757) 6,444 Total comprehensive loss attributable to Pony AI Inc.(16,458) (173,494) (120,323) (268,313)Weighted average number of ordinary shares outstanding used in computing net loss per share, basic and diluted90,502,945 182,347,578 89,100,415 114,318,765 Net loss per ordinary share, basic and diluted(0.23) (0.99) (1.40) (2.40) Pony AI Inc. Unaudited Reconciliation of U.S. GAAP and Non-GAAP Results (All amounts in USD thousands, except share and per share data) Three Months Ended Year Ended December 31, 2023 December 31, 2024 December 31, 2023 December 31, 2024 Research and development expenses (31,080) (147,840) (122,707) (240,179)Share-based compensation expenses 317 101,505 1,832 102,383 Non-GAAP research and development expenses (30,763) (46,335) (120,875) (137,796) Selling, general and administrative expenses (12,538) (32,714) (37,417) (56,747)Share-based compensation expenses 461 23,366 1,926 24,620 Non-GAAP selling, general and administrative expenses (12,077) (9,348) (35,491) (32,127) Operating expenses (43,618) (180,554) (160,124) (296,926)Share-based compensation expenses 778 124,871 3,758 127,003 Non-GAAP operating expenses (42,840) (55,683) (156,366) (169,923) Loss from operations (26,470) (173,098) (143,240) (285,523)Share-based compensation expenses 778 124,871 3,758 127,003 Non-GAAP loss from operations (25,692) (48,227) (139,482) (158,520) Net loss (20,730) (181,118) (125,328) (275,006)Share-based compensation expenses 778 124,871 3,758 127,003 Changes in fair value of warrants liability 1,715 - 3,030 (5,617)Non-GAAP net loss (18,237) (56,247) (118,540) (153,620) Net loss attributable to Pony AI Inc. (20,583) (180,914) (124,812) (274,121)Share-based compensation expenses 778 124,871 3,758 127,003 Changes in fair value of warrants liability 1,715 - 3,030 (5,617)Non-GAAP net loss attributable to Pony AI Inc. (18,090) (56,043) (118,024) (152,735) Weighted average number of ordinary shares outstanding used in computing net loss per share, basic and diluted 90,502,945 182,347,578 89,100,415 114,318,765 Non-GAAP net loss per ordinary share, basic and diluted (0.20) (0.31) (1.32) (1.34) PONYPony AI Inc$13.20-0.08%Stock Score Locked: Want to See it? Benzinga Rankings give you vital metrics on any stock - anytime. Reveal Full ScoreEdge RankingsMomentum-Growth-Quality-Value6.51Price TrendShortMediumLongOverviewMarket News and Data brought to you by Benzinga APIs

Pony.ai FY2024 Revenue Hits Record High After 3-Yrs Growth - Pony AI (NASDAQ:PONY)

GUANGZHOU, China, March 25, 2025 /PRNewswire/ -- On March 25th, Pony.ai PONY announces unaudited Q4 and FY2024 financial results. FY total revenue rose to US$75.0 million, up 4.3% from FY2023, largest L4 autonomous mobility company in China by revenue.FY robotaxi service revenue was US$7.3 million, driven by service expansion in tier-1 Chinese cities. Co. expects growth to continue, supported by Gen-7 models deployment.Non-GAAP R&D expenses rose 14% vs 2023 to support Gen-7 robotaxi R&D.Cash and cash equivalents, short-term investments and restricted cash, and long-term debt instruments for wealth management were US$825.1 million as of end-2024. Ample funding to facilitate robotaxi scaling.Firmly promotes "robotaxi first, China first, tier-1 cities first" strategy. Join hands with GAC Aion/BAIC BJEV in Q4 for robotaxi R&D, mass production.To debut 3 Gen-7 robotaxi models in cooperation with Toyota, GAC, BAIC in 2025.PonyWorld, the key tech behind co.'s Virtual Driver capabilities helped improve safety record by 16X; Reduce commercial insurance cost per vehicle to <50% of traditional taxis.CEO James Peng: Eager to execute our mass production roadmap, accelerate beyond the inflection point of scaled commercialization, and build a world where autonomous mobility is safer, more efficient, and accessible than ever before. Learn more: Pony AI Inc. Announces Unaudited Fourth Quarter and Full Year 2024 Financial Results Media Contact: media@pony.ai View original content:https://www.prnewswire.com/news-releases/ponyai-fy2024-revenue-hits-record-high-after-3-yrs-growth-302410530.html SOURCE Pony.ai PONYPony AI Inc$12.60-4.62%Stock Score Locked: Want to See it? Benzinga Rankings give you vital metrics on any stock - anytime. Reveal Full ScoreEdge RankingsMomentum-Growth-Quality-Value6.51Price TrendShortMediumLongOverviewMarket News and Data brought to you by Benzinga APIs

Pony AI Q4: Revenue Slumps Nearly 30% As Robotaxi Sales Decline, Loss Widens - Pony AI (NASDAQ:PONY)

Feel unsure about the market's next move? Copy trade alerts from Matt Maley -- a Wall Street veteran who consistently finds profits in volatile markets. Claim your 7-Day free trial now. Pony AI Inc. PONY shares traded lower premarket on Tuesday after the company disclosed fourth-quarter results. Sales declined 29.8% year over year to $35.52 million, owing to the timing of project-based revenue recognition. Robotaxi services revenue dipped 61.9% Y/Y to $2.6 million in the fourth quarter due to lower service fees from providing autonomous vehicle engineering solutions. Meanwhile, Robotruck services revenue surged 72.7% Y/Y to $12.9 million aided by the growth of robotruck fleet operations into new geographies. Gross profit fell 56.5% Y/Y to $7.5 million, with margin contraction to 21.0% from 33.9% a year ago quarter due to changes in the revenue mix. The company reported an adjusted EPS loss of 31 cents versus 20 cents loss in the prior year's quarter. As of December 31, 2024, cash and cash equivalents, short-term investments and restricted cash stood at $745.2 million. Read: Pony AI Speeds Past Competitors, Commercializes Fully Driverless Vehicles Tiancheng Lou, Co-founder and Chief Technology Officer of Pony.ai, added, "Notably, our robotaxi safety record has improved by 16 times and has driven insurance policy prices down to roughly 50% that of human-driven taxis - all these are clear indicators of safety and reliability in our technology." Leo Wang, Chief Financial Officer of Pony.ai, stated, "While the near-term financials reflected our strategic resource allocation to support the mass production and deployment of robotaxi services, we remain focused on improving unit economics in 2025." Notably, in November 2025, the company debuted on the Nasdaq Global Select Market today, pricing its initial public offering at $13 per ADS. Price Action: PONY shares are down 1.59% at $13.00 premarket at the last check Tuesday. Read Next: Pony AI's Robotaxis Hit Guangzhou's High-Demand Routes: Details Photo via Shutterstock. PONYPony AI Inc $13.01-1.51% Stock Score Locked: Want to See it? Benzinga Rankings give you vital metrics on any stock - anytime. Reveal Full Score Edge Rankings Momentum- Growth- Quality- Value6.51 Price Trend Short Medium Long Overview Market News and Data brought to you by Benzinga APIs

Pony AI Non-GAAP EPS of -$0.31, revenue of $35.5M

Pony AI Inc. press release (NASDAQ:PONY): Q4 Non-GAAP EPS of -$0.31. Revenue of $35.5M (-29.8% Y/Y). Cash and cash equivalents, short-term investments and restricted cash were US$745.2million as of December 31, 2024, compared to US$589.8 million as of December 31, 2023. More on Pony AI Inc. Pony AI: A High-Growth Bet On Self-Driving Tech Pony AI: Early-Stage China AV Play That Is Primed To Grow Pony AI looks for a breakthrough with the first tests in China of autonomous truck platoons Robotaxi pure play Pony AI lands a bull rating from Deutsche Bank Historical earnings data for Pony AI Inc.

Pony AI: New Robotaxi Routes In China Overshadow Near-Term Revenue Declines (NASDAQ:PONY)

The company's IPO has left Pony with a strong balance sheet with ~$0.9 billion in total cash and cash equivalents and no debt, enough to absorb years of liquidity. Over the past month, investors have sold off all stocks that appear to be richly valued, or overly dependent on future technologies and future revenue streams - basically, the markets have disposed of most things that have any semblance of high risk. With combined experience of covering technology companies on Wall Street and working in Silicon Valley, and serving as an outside adviser to several seed-round startups, Gary Alexander has exposure to many of the themes shaping the industry today. He has been a regular contributor on Seeking Alpha since 2017. He has been quoted in many web publications and his articles are syndicated to company pages in popular trading apps like Robinhood. Analyst's Disclosure: I/we have a beneficial long position in the shares of PONY either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Pony AI Inc. Announces Unaudited Fourth Quarter and Full Year 2024 Financial Results By Investing.com

NEW YORK, March 25, 2025 (GLOBE NEWSWIRE) -- Pony AI Inc. (Pony.ai or the Company) (Nasdaq: PONY), a global leader in the large-scale commercialization of autonomous mobility, today announced its unaudited financial results for the quarter and full year ended December 31, 2024. Dr. James Peng, Co-founder and Chief Executive Officer of Pony.ai, commented, 2024 marked a milestone year for Pony.ai as we transitioned to a public company. Our robotaxi-first, China-first, and tier-one cities-first approach has positioned us at the forefront of the race towards large-scale commercialization. The strategic partnerships with OEMs we have developed, also empowers us to rapidly scale production of our seventh-generation robotaxi. In 2025, we aim to build upon this momentum and accelerate beyond the inflection point of scaled commercialization, building a world with safer, more efficient, and accessible autonomous mobility. Dr. Tiancheng Lou, Co-founder and Chief Technology Officer of Pony.ai, added, Our years of engineering efforts have yielded cutting-edge technology that ensures the highest levels of safety at effective costs, and supports our large-scale operations. Reinforcement learning and PonyWorld generative virtual environment are powering our autonomous driving system with smarter decisions in complex real-world conditions. Notably, our robotaxi safety record has improved by 16 times and has driven insurance policy prices down to roughly 50% that of human-driven taxis " all these are clear indicators of safety and reliability in our technology. Dr. Leo Wang, Chief Financial Officer of Pony.ai, commented, We are proud of our revenue growth over the past three consecutive years, showcasing our ability to commercialize our leading autonomous mobility solutions. While the near-term financials reflected our strategic resource allocation to support the mass production and deployment of robotaxi services, we remain focused on improving unit economics in 2025. Our successful IPO has enhanced our financial strength and flexibility, providing us with ample capital for disciplined production scale-up and R&D investments. Recent Developments Expanding Operations and Regulatory Approvals Expansion of Paid Robotaxi Services in Beijing Partnership with ComfortDelGro to Jointly Launch Robotaxi Pilot Program in Guangzhou Expansion of Paid Robotaxi Services in Guangzhou First Company in China Approved for Autonomous Truck Platooning Tests Partnership with Amap to Expand Robotaxi Services in Guangzhou Mass Production Updates Strategic Cooperation with GAC Aion to Develop Next-generation Robotaxi Partnership with BAIC BJEV for L4 Robotaxi Development Expanding Global Footprint Secured Autonomous Driving Test Permit in Seoul Expanding European Reach with Partnership in Luxembourg Cost of Revenues Gross Profit and Gross Margin Operating Expenses Loss from Operations Net Loss Non-GAAP financial measures exclude share-based compensation expenses and changes in fair value of warrants liability, and such adjustment has no impact on income tax. For further details, see the Unaudited Reconciliation of U.S. GAAP and Non-GAAP Results set forth at the end of this press release. Basic and Diluted Loss per ordinary share Balance Sheet Cost of Revenues Gross Profit and Gross Margin Operating Expenses Loss from Operations Conference Call Pony.ai will hold a conference call at 8:00 AM U.S. Eastern Time on Tuesday, March 25, 2025 (8:00 PM Beijing/Hong Kong Time on the same day) to discuss financial results and answer questions from investors and analysts. For participants who wish to join the call, please complete online registration using the link provided below prior to the scheduled call start time. Upon registration, participants will receive a confirmation email containing dial-in numbers, passcode, and a unique access PIN. Participant Online Registration: https://dpregister.com/sreg/10197111/fe90682903 A replay of the conference call will be accessible through April 1, 2025, by dialing the following numbers: Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at https://ir.pony.ai. Non-GAAP Financial Measures The Company uses non-GAAP financial measures, such as non-GAAP research and development expenses, non-GAAP selling, general and administrative expenses, non-GAAP operating expenses, non-GAAP loss from operations, non-GAAP net loss, non-GAAP net loss attributable to Pony AI Inc., non-GAAP basic and diluted net loss per ordinary share, in evaluating its operating results and for financial and operational decision-making purposes. By excluding the impact of share-based compensation expenses and changes in fair value of warrants liability, the Company believes that the non-GAAP financial measures help identify underlying trends in its business and enhance the overall understanding of the Company's past performance and future prospects. The Company also believes that the non-GAAP financial measures allow for greater visibility with respect to key metrics used by the Company's management in its financial and operational decision-making. The non-GAAP financial measures are not presented in accordance with U.S. GAAP and may be different from non-GAAP methods of accounting and reporting used by other companies. The non-GAAP financial measures have limitations as analytical tools and when assessing the Company's operating performance, investors should not consider them in isolation, or as a substitute for financial information prepared in accordance with U.S. GAAP. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure. The Company mitigates these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating the Company's performance. For more information on the non-GAAP financial measures, please see the table captioned Unaudited Reconciliation of U.S. GAAP and Non-GAAP Results set forth at the end of this press release. About Pony AI Inc. Pony AI Inc. is a global leader in the large-scale commercialization of autonomous mobility. Leveraging its vehicle-agnostic Virtual Driver technology, a full-stack autonomous driving technology that seamlessly integrates Pony.ai's proprietary software, hardware, and services, Pony.ai is developing a commercially viable and sustainable business model that enables the mass production and deployment of vehicles across transportation use cases. Founded in 2016, Pony.ai has expanded its presence across China, Europe, East Asia, the Middle East and other regions, ensuring widespread accessibility to its advanced technology. For more information, please visit: https://ir.pony.ai. Safe Harbor Statement This press release contains statements that may constitute forward-looking statements pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as will, expects, anticipates, aims, future, intends, plans, believes, estimates, likely to, and similar statements. Statements that are not historical facts, including statements about Pony.ai's beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in Pony.ai's filings with the SEC. All information provided in this press release is as of the date of this press release, and Pony.ai does not undertake any obligation to update any forward-looking statement, except as required under applicable law. For investor and media inquiries, please contact:

Pony AI wins approval for fully driverless robotaxis in Shenzhen By Investing.com

Investing.com-- Autonomous driving startup Pony Ai Inc (NASDAQ:PONY) has received approval to launch fully driverless commercial robotaxi services in Shenzhen's Nanshan District, the company announced on Wednesday. This approval allows Pony.ai to provide autonomous ride-hailing services to the public without a safety operator present in the vehicle This milestone follows its successful rollout of paid driverless taxis in the neighboring Bao'an District. "Pony.ai is the first and only company to receive approval for fully driverless commercial robotaxi services in Nanshan District," the company said in a statement. Nanshan is a densely populated business and technology hub, has one of China's highest GDPs, and features key landmarks such as China Resources Tower and Shenzhen Bay Park. Expanding into Nanshan will accelerate public adoption and validate the reliability of the company's technology in complex urban environments, said Pony.ai CEO James Peng. With this expansion, Pony.ai's driverless service now connects Shenzhen's major transit hubs, including Bao'an International Airport and Qianhai Free Trade Zone. The company has logged 45 million kilometers of autonomous driving, including 5 million fully driverless kilometers, it said.

Pony AI Inc. Announces Unaudited Fourth Quarter and Full Year 2024 Financial Results

NEW YORK, March 25, 2025 (GLOBE NEWSWIRE) -- Pony AI Inc. ("Pony.ai" or the "Company") (Nasdaq: PONY), a global leader in the large-scale commercialization of autonomous mobility, today announced its unaudited financial results for the quarter and full year ended December 31, 2024. Dr. James Peng, Co-founder and Chief Executive Officer of Pony.ai, commented, "2024 marked a milestone year for Pony.ai as we transitioned to a public company. Our robotaxi-first, China-first, and tier-one cities-first approach has positioned us at the forefront of the race towards large-scale commercialization. The strategic partnerships with OEMs we have developed, also empowers us to rapidly scale production of our seventh-generation robotaxi. In 2025, we aim to build upon this momentum and accelerate beyond the inflection point of scaled commercialization, building a world with safer, more efficient, and accessible autonomous mobility." Dr. Tiancheng Lou, Co-founder and Chief Technology Officer of Pony.ai, added, "Our years of engineering efforts have yielded cutting-edge technology that ensures the highest levels of safety at effective costs, and supports our large-scale operations. Reinforcement learning and PonyWorld generative virtual environment are powering our autonomous driving system with smarter decisions in complex real-world conditions. Notably, our robotaxi safety record has improved by 16 times and has driven insurance policy prices down to roughly 50% that of human-driven taxis - all these are clear indicators of safety and reliability in our technology." Dr. Leo Wang, Chief Financial Officer of Pony.ai, commented, "We are proud of our revenue growth over the past three consecutive years, showcasing our ability to commercialize our leading autonomous mobility solutions. While the near-term financials reflected our strategic resource allocation to support the mass production and deployment of robotaxi services, we remain focused on improving unit economics in 2025. Our successful IPO has enhanced our financial strength and flexibility, providing us with ample capital for disciplined production scale-up and R&D investments." Recent Developments Expanding Operations and Regulatory Approvals Expansion of Paid Robotaxi Services in Beijing Partnership with ComfortDelGro to Jointly Launch Robotaxi Pilot Program in Guangzhou Expansion of Paid Robotaxi Services in Guangzhou First Company in China Approved for Autonomous Truck Platooning Tests Partnership with Amap to Expand Robotaxi Services in Guangzhou Mass Production Updates Strategic Cooperation with GAC Aion to Develop Next-generation Robotaxi Secured Autonomous Driving Test Permit in Seoul Expanding European Reach with Partnership in Luxembourg Non-GAAP financial measures exclude share-based compensation expenses and changes in fair value of warrants liability, and such adjustment has no impact on income tax. For further details, see the "Unaudited Reconciliation of U.S. GAAP and Non-GAAP Results" set forth at the end of this press release. Pony.ai will hold a conference call at 8:00 AM U.S. Eastern Time on Tuesday, March 25, 2025 (8:00 PM Beijing/Hong Kong Time on the same day) to discuss financial results and answer questions from investors and analysts. For participants who wish to join the call, please complete online registration using the link provided below prior to the scheduled call start time. Upon registration, participants will receive a confirmation email containing dial-in numbers, passcode, and a unique access PIN. Participant Online Registration: https://dpregister.com/sreg/10197111/fe90682903 A replay of the conference call will be accessible through April 1, 2025, by dialing the following numbers: Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at https://ir.pony.ai. Non-GAAP Financial Measures The Company uses non-GAAP financial measures, such as non-GAAP research and development expenses, non-GAAP selling, general and administrative expenses, non-GAAP operating expenses, non-GAAP loss from operations, non-GAAP net loss, non-GAAP net loss attributable to Pony AI Inc., non-GAAP basic and diluted net loss per ordinary share, in evaluating its operating results and for financial and operational decision-making purposes. By excluding the impact of share-based compensation expenses and changes in fair value of warrants liability, the Company believes that the non-GAAP financial measures help identify underlying trends in its business and enhance the overall understanding of the Company's past performance and future prospects. The Company also believes that the non-GAAP financial measures allow for greater visibility with respect to key metrics used by the Company's management in its financial and operational decision-making. The non-GAAP financial measures are not presented in accordance with U.S. GAAP and may be different from non-GAAP methods of accounting and reporting used by other companies. The non-GAAP financial measures have limitations as analytical tools and when assessing the Company's operating performance, investors should not consider them in isolation, or as a substitute for financial information prepared in accordance with U.S. GAAP. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure. The Company mitigates these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating the Company's performance. For more information on the non-GAAP financial measures, please see the table captioned "Unaudited Reconciliation of U.S. GAAP and Non-GAAP Results" set forth at the end of this press release. About Pony AI Inc. Pony AI Inc. is a global leader in the large-scale commercialization of autonomous mobility. Leveraging its vehicle-agnostic Virtual Driver technology, a full-stack autonomous driving technology that seamlessly integrates Pony.ai's proprietary software, hardware, and services, Pony.ai is developing a commercially viable and sustainable business model that enables the mass production and deployment of vehicles across transportation use cases. Founded in 2016, Pony.ai has expanded its presence across China, Europe, East Asia, the Middle East and other regions, ensuring widespread accessibility to its advanced technology. This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to," and similar statements. Statements that are not historical facts, including statements about Pony.ai's beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in Pony.ai's filings with the SEC. All information provided in this press release is as of the date of this press release, and Pony.ai does not undertake any obligation to update any forward-looking statement, except as required under applicable law. For investor and media inquiries, please contact: