# Pony AI Inc. American Depositary Shares (PONY.US)

Canonical: https://gigainvestors.com/s/PONY

Analysis as of: 2026-10-16T07:31:16.326Z. 

Listing currency: USD. Reporting currency: USD.

## Verdict

Not enough history yet

Quality tests for Buy: not passed (profit record: fail; earnings resilience is evidence only). Published buy qualification: no.

Share price: $5.17 per share; close as of 2026-10-15.

## Checklist

### understandable: na

### moat: na

### economics: na

### management: na

### accounting: na

## Holders

- [Chase Coleman](https://gigainvestors.com/TGM): tracked 13F investor; follow the investor page for holding quarter and amounts.

## Price story

Down 77% since Sep 2025 · "Pony.ai shares slide as revenue falls despite robotaxi surge" (finance.yahoo.com, Mar 2026)

Story as of 2026-10-16T09:59:25.474Z; price observation 2026-10-15.

- 2025-04-28: Market Chatter: Pony AI Nearing Profitability After Cost Cuts ([finance.yahoo.com](https://finance.yahoo.com/news/market-chatter-pony-ai-nearing-184104839.html))

- 2025-05-20: China's Pony AI Robotaxi Revenue Jumps 200%, Eyes 1,000-Vehicle Fleet ([finance.yahoo.com](https://finance.yahoo.com/news/chinas-pony-ai-robotaxi-revenue-112444195.html))

- 2025-08-12: Pony.ai Shares Jump on Massive 76% Revenue Growth, EPS Beats ([finance.yahoo.com](https://finance.yahoo.com/news/pony-ai-shares-jump-massive-144514178.html))

- 2025-09-26: Pony.ai wins robotaxi testing permit in Dubai ([seekingalpha.com](https://seekingalpha.com/news/4499458-ponyai-wins-robotaxi-testing-permit-in-dubai?utm_source=feed_news_all&utm_medium=referral&feed_item_type=news))

- 2026-03-26: Pony.ai shares slide as revenue falls despite robotaxi surge ([finance.yahoo.com](https://finance.yahoo.com/markets/stocks/articles/pony-ai-shares-slide-revenue-152900083.html))

- 2026-04-24: Pony.ai Drives Commercialization at Scale with Lower-Cost Robotaxis and New L4 Light Truck ([finance.yahoo.com](https://finance.yahoo.com/sectors/technology/articles/pony-ai-drives-commercialization-scale-043000178.html))

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in information technology services; annual sales are USD 90.2 million.

- Source: https://www.sec.gov/Archives/edgar/data/1969302/000110465926046406/pony-20251231x20f.htm (filed 2026-04-22); FY2025: revenue 90239028; grossProfit 14198452; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-15); PONY.US: Pony AI Inc., through its subsidiaries, engages in the autonomous mobility business in the People's Republic of China and internationally. The company provides robotaxi services that include autonomous vehicle (AV) engineering solutions, such as AV software deployment and maintenance; vehicle integration and engineering; and road-testing services to original equipment manufacturers and transportation network companies. It also offers robotruck services that provide transportation services to logistics platforms. In addition, the company engages in the licensing and applications business that comprises personally-owned vehicle intelligent solutions, including intelligent driving software solutions, proprietary vehicle domain controller products, and data analytics tools; vehicle integration services, software development, and licensing services; and vehicle-to-everything (V2X) products and services to enhance road safety. The company's customers include OEMs and TNCs; OEMs and logistics platforms; and sensor and hardware component suppliers. Pony AI Inc. was incorporated in 2016 and is based in Guangzhou, the People's Republic of China.

### Why customers stay

Margins ranged from 15.2% to 23.5% during 2023–25.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-04-22); FY2023: grossProfit / revenue = 23.5%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-04-22); FY2024: grossProfit / revenue = 15.2%.

- Source: https://www.sec.gov/Archives/edgar/data/1969302/000110465926046406/pony-20251231x20f.htm (filed 2026-04-22); FY2025: grossProfit / revenue = 15.7%.

### Where the cash goes

Paid dividends in 1 of 5 years.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-04-22); Dividend observations: [[2021,0],[2022,0],[2023,0],[2024,0],[2025,6435000]]. Zero only counted when supported by a complete cash-flow statement.

### Are managers owners

Insiders own <0.1% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-15); PONY.US SharesStats.PercentInsiders = 0.031 percentage points; cache date 2026-10-15.

### What the price says

The price is 21.8 times annual sales; cash earnings are negative.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-04-22); Closing price 5.17 USD; reporting-to-trading FX 1; FY2025 annual sales per share 0.23752468375652186; price multiple 21.76615886077585. FY2025 cash earnings/share -0.4037190073825248. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2024-11: $13.02 per share

- 2024-12: $14.35 per share

- 2025-01: $13.16 per share

- 2025-02: $16.07 per share

- 2025-03: $8.82 per share

- 2025-04: $9.09 per share

- 2025-05: $19.26 per share

- 2025-06: $13.20 per share

- 2025-07: $13.44 per share

- 2025-08: $14.37 per share

- 2025-09: $22.49 per share

- 2025-10: $18.68 per share

- 2025-11: $13.67 per share

- 2025-12: $14.50 per share

- 2026-01: $13.88 per share

- 2026-02: $14.34 per share

- 2026-03: $9.44 per share

- 2026-04: $9.87 per share

- 2026-05: $10.03 per share

- 2026-06: $6.95 per share

- 2026-07: $7.87 per share

- 2026-08: $7.09 per share

- 2026-09: $6.54 per share

- 2026-10: $5.17 per share

## Annual estimated value (USD per share)

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original 20-F filing](https://www.sec.gov/Archives/edgar/data/1969302/000110465926046406/pony-20251231x20f.htm); period 2025-12-31, filed 2026-04-22.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.