Pony AI Inc. (NASDAQ:PONY) reported first-quarter results Tuesday, posting triple-digit revenue growth driven by its robotaxi business, while losses widened as the company accelerated global expansion and commercialization efforts.

Revenue Growth Fueled By Robotaxi Expansion

The autonomous-driving company reported first-quarter revenue of $34.25 million, up 145% year over year, boosted by growth in robotaxi services and intelligent solutions revenue. Analysts had expected quarterly revenue of $51.09 million.

Robotaxi services revenue surged 395.4% to $8.6 million during the quarter, while fare-charging revenue jumped more than 456.5%, primarily due to the launch of the company's Gen-7 fleet.

Robotruck services revenue increased 31% year over year to $10.2 million.

Margins Narrow As Losses Widen

Gross profit rose to $5.6 million from $2.3 million a year earlier. Gross margin narrowed slightly to 16.2% from 16.6%.

Net loss widened to $50.41 million from $42.99 million a year earlier, mainly due to lower investment income. Adjusted net loss increased to $40.86 million from $29.45 million.

Adjusted loss was 9 cents per share, compared with a loss of 8 cents per share a year earlier. Wall Street analysts had projected a 25-cent loss per share.

As of March 31, 2026, Pony AI held $1.44 billion in cash and cash equivalents, short-term investments, restricted cash and long-term debt instruments for wealth management.

CEO Raises 2026 Fleet And Revenue Targets

CEO James Peng said the company entered 2026 with amazing momentum as robotaxi revenue climbed on stronger fare growth and rising user adoption.

Peng said Pony AI expanded its robotaxi fleet to more than 1,700 vehicles and raised its 2026 global fleet target to more than 3,500 vehicles from a prior goal of 3,000 vehicles.

He also increased the company's robotaxi revenue target to more than 3.5 times 2025 levels, up from a previous forecast of 3 times.

The company plans to expand into more than 20 cities globally this year as it grows operations across China and overseas markets.

Pony AI Global Expansion Gains Momentum

Peng said Pony AI now operates in nine countries and already offers public robotaxi services in Croatia, Qatar, Singapore and South Korea. He also highlighted the launch of Europe's first commercial robotaxi service in Zagreb.

Executives Highlight Technology And Cost Reduction Plans

CTO Tiancheng Lou said Pony AI's ability to enter complex urban markets quickly reflects the strength of its autonomous-driving technology and operational capabilities.

Lou said the company built its autonomous-driving system around reinforcement learning and world models, rather than depending solely on large language model scaling.

He added that Pony AI's vehicles include full-stack redundancy and fail-operational capabilities designed to maintain safe operations during hardware or software failures.

CFO Leo Wang said the company expects robotaxi bill-of-materials costs in China to fall below 230,000 yuan by mid-2027 through scale efficiencies, supplier negotiations and engineering optimization.

Pony AI Stock Reaction

PONY Price Action: Pony AI shares were up 5.61% at $9.420 at the time of publication on Tuesday, according to Benzinga Pro data.

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