Pony AI Inc. (NASDAQ:PONY)
Insiders filed in the last 90 days, but none of those trades qualified for scoring — round-trip buys and filings whose price is far off the market are excluded.
Loses money on what it sells.
- Revenue
- $125.2M
- Net income
- -$148.0M
- Net margin
- -118.3%
Little or no net debt.
- Total debt
- $19.0M
- Cash
- $327.1M
- Debt / equity
- 0.01
Comfortably covers what is due within a year.
- Current assets
- $1.24B
- Current liabilities
- $77.6M
- Current ratio
- 15.94
Consumes cash and must keep raising it.
- Operating cash flow
- -$203.4M
- Free cash flow
- -$314.8M
- FCF margin
- -251.5%
Heavy dilution — shareholders are paying for the business.
- Shares outstanding
- 433.6M
- Share growth (1y)
- 18.2%
- Cash runway
- 19 months
Five pillars — profitability, leverage, liquidity, cash generation, dilution & runway — each scored 0–20 from the company’s own income statement, balance sheet and cash-flow statement, then scaled to 100. A pillar the statements cannot answer is left out rather than guessed; fewer than three and no score is shown.
PONY Income Statement
| Fiscal Period | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|
| Period Ending | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 |
| Revenue | 36.22 M | 34.25 M | 29.25 M | 25.44 M | 21.45 M | 13.98 M |
| Revenue Growth (YoY) | 68.82 % | 145.01 % | 16.30 % | 1.15 % | -13.09 % | 11.64 % |
| Cost of Revenue | 29.87 M | 28.69 M | 25.52 M | 20.77 M | 17.99 M | 11.66 M |
| Gross Profit | 6.35 M | 5.56 M | 3.73 M | 4.67 M | 3.46 M | 2.32 M |
| SG&A Expense | 15.86 M | 16.02 M | 17.14 M | 13.96 M | 15.70 M | 10.87 M |
| R&D Expense | 56.24 M | 47.88 M | 60.78 M | 60.38 M | 49.03 M | 47.49 M |
| Operating Expenses | 72.09 M | 63.90 M | 77.92 M | 74.34 M | 64.73 M | 58.36 M |
| Operating Income | -65.74 M | -58.34 M | -74.20 M | -69.67 M | -61.27 M | -56.04 M |
| Pretax Income | -45.35 M | -53.51 M | 75.78 M | -61.57 M | -53.26 M | -37.38 M |
| Tax Provision | 1.00 K | 0.00 | 0.00 | -1.00 K | 1.00 K | 0.00 |
| Net Income | -59.84 M | -50.41 M | 23.53 M | -61.31 M | -53.10 M | -42.99 M |
| EPS (Basic) | -0.14 | -0.12 | 0.06 | -0.16 | -0.15 | -0.12 |
| EPS (Diluted) | -0.14 | -0.12 | 0.06 | -0.16 | -0.15 | -0.12 |
| Shares Outstanding | 433.55 M | 433.54 M | 414.66 M | 385.29 M | 366.83 M | 351.65 M |
Quarterly figures; YoY compares the same fiscal quarter a year earlier. Source: public market data.