Pony AI (PONY) investor relations material

Business performance highlights

• Total revenues grew 145% year-over-year in Q1 2026, reaching $34.3M, with Robotaxi revenues up 395% and fare-charging revenues up 456%.

• Robotaxi fleet size surpassed 1,700 vehicles as of May 2026, with over 200% YoY growth in registered users in China and 100%+ growth in weekly average paid orders from January to May.

• International expansion included launching the first commercial Robotaxi service in Croatia and driverless testing in Dubai, with presence in 9 countries.

• Robotruck and Intelligent Solutions segments also saw strong growth, with Robotruck revenues up 31% and Intelligent Solutions up 246% YoY in Q1.

• Cost optimization efforts reduced vehicle BOM cost to below RMB230,000 for the domestic market by mid-2027.

Technology and operational advancements

• L4 autonomous driving technology underpins both Robotaxi and Robotruck offerings, with a unified hardware-software stack and robust fail-operational redundancy.

• Reinforcement learning and world models drive safer-than-human performance, especially in complex urban scenarios.

• Fleet management includes city-wide safety nets, smart dispatch, and rapid incident response, ensuring operational safety and efficiency.

• Technology stack enables seamless deployment across diverse environments and supports rapid scaling.

Financial position and outlook

• Gross margin reached 16.2% in Q1 2026, with operating expenses at $63.9M, up 9.5% YoY, mainly due to continued R&D investment.

• Loss from operations was $58.3M, relatively flat YoY, while net loss was $53.5M, with significant margin improvements.

• Cash and investments totaled $1.51B at the end of Q1 2026, supporting ongoing strategic execution.

• 2026 guidance was raised: Robotaxi fleet target increased to 3,500+ vehicles, revenues expected to grow 3.5x vs. 2025, and operations to expand to 20+ cities.