Pony AI Inc. (NASDAQ: PONY) is having a bit of a rough morning. The autonomous driving company reported mixed second-quarter results, and while there's plenty to like in the numbers, the market is focusing on the revenue miss.
Pony AI CEO 'Confident' Robotaxi Revenue Will Beat Full-Year Target
MarketDash
Pony AI (NASDAQ: PONY) drops premarket after Q2 revenue misses estimates, despite a narrower loss and 691% Robotaxi revenue surge.
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Here's the headline: Pony AI posted an adjusted loss of 10 cents per share, which is better than the 27-cent loss analysts were expecting. But revenue, while up 68.8% year over year to $36.22 million, fell short of the $67.03 million consensus estimate. The growth was driven by Robotaxi and Robotruck services.
Gross profit climbed 83.4% to $6.4 million, and gross margin improved to 17.5% from 16.1% a year earlier. The company credits a favorable revenue mix, with a higher contribution from Robotaxi services and higher-margin joint deployment revenue.
As of June 30, Pony AI had $1.39 billion in cash and cash equivalents, short-term investments, restricted cash, and long-term wealth management debt instruments. So, no immediate cash crunch worries.
Robotaxi Revenue Surges
The star of the show is Robotaxi services revenue, which jumped 691.2% year over year to $12.1 million. Fare-charging revenue surged 849.3%. That's not a typo. The company attributes this to its Gen-7 fleet rollout, expanded commercial operations, and higher joint deployment volumes in China and overseas markets.
Robotruck services revenue rose 40% to $13.3 million, helped by higher freight transportation revenue from the collaboration with Sinotrans. Intelligent solutions revenue was $10.8 million, roughly flat from a year earlier, as fluctuations in autonomous domain controller deliveries limited growth.
Management Sees More Robotaxi Growth
CEO James Peng is feeling good about the trajectory. He said Pony AI continues to make progress in scaling and commercializing its Robotaxi business, highlighting strong revenue growth, rapid fleet expansion, and broader coverage in China and overseas markets.
Peng said the company is "confident" it can exceed its full-year Robotaxi services revenue target as deployments expand across China's tier-one cities and overseas markets. He also noted that further progress in international commercialization should add to the growth momentum.
CTO Tiancheng Lou added that investments in full-stack Level 4 autonomous driving and advanced world models are improving research, testing, and fleet efficiency. PonyWorld 2.0, the company's technology platform, allows Pony AI to deploy Robotaxis across several cities and countries without a proportional increase in engineering resources. It also helps manage larger fleets more efficiently.
Global Expansion Accelerates
Pony AI is not sitting still. In Guangzhou, it expanded Robotaxi coverage into Haizhu, Tianhe, Huangpu, and Panyu, adding more than 300 square kilometers of coverage since the start of 2026, reaching more than 7 million people.
Internationally, the company has been busy. It struck a deal with Uber Technologies Inc. (NYSE: UBER) to deploy more than 2,000 Robotaxis in Europe, bringing the number of international vehicles under negotiation to more than 4,000. It also advanced deployments with Bolt and Stellantis N.V. (NYSE: STLA) in Luxembourg, and launched public Robotaxi services in Singapore through ComfortDelGro's Zig app.
The Robotaxi fleet grew to 1,975 vehicles, and Pony AI aims to operate more than 3,500 by year-end. That's a big jump, and it shows the company is serious about scaling.
In addition, Pony AI partnered with China Merchants Port to deploy Gen-4 driverless Robotrucks at Shenzhen's Mawan Port, where they'll operate alongside human-driven vehicles in mixed-fleet logistics operations.
Meanwhile, registered PonyPilot users in China surpassed 1.5 million, supported by higher fleet density and wider coverage.
PONY Price Action: Pony AI shares were down 1.63% at $7.850 during premarket trading on Tuesday.
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