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Pony.ai FY2024 Revenue Hits Record High After 3-Yrs Growth

1. Pony.ai reports FY2024 total revenue of $75 million, a 4.3% increase. 2. Robotaxi service revenue hit $7.3 million, driven by expansion in tier-1 cities. 3. R&D expenses rose 14% to support Gen-7 robotaxi technology advancements. 4. Pony.ai holds $825.1 million in cash and equivalents for scaling operations. 5. Plans to debut Gen-7 robotaxi models with partners like Toyota by 2025.

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$10.8203/26 01:52 PM EDTLatest Updated
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FAQ

Why Bullish?

Pony.ai's revenue growth and substantial cash position indicate financial strength, similar to strategies taken by Tesla in its early expansion phases, leading to positive market sentiment.

How important is it?

Strong revenue growth and strategic partnerships are likely to attract investor interest, suggesting upward price movement.

Why Long Term?

The ongoing investments in R&D and partnerships suggest sustained growth prospects, similar to the long-term trajectory of Waymo's development.

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TSLAGOOGLUBER
, /PRNewswire/ -- On March 25th, Pony.ai (Nasdaq: 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: [email protected] SOURCE Pony.ai WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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