Pony AI Inc. PONY

Technology SIC 7373 - Services-Computer Integrated Systems Design Nasdaq

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Market cap
52-week range — - —

No price or market cap here: this company files no 10-K, so the only share count SEC publishes for it counts its ordinary shares in its home market, while its US listing is a depositary receipt standing for some number of them. That number is in no filing, so a price multiplied by that count is not this company's value and is not shown. The financial statements below are as filed.

Valuation FY2025 figures against the last close

P/S
P/E
P/FCF
EV/EBITDA
Dividend yield
Diluted EPS-0.35

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021
Revenue $90.0M$75.0M$71.9M$68.4M
Cost of revenue $75.8M$63.6M$55.0M$36.3M
Gross profit $14.2M$11.4M$16.9M$32.1M
R&D $217.4M$240.2M$122.7M$153.6M
SG&A $57.6M$56.7M$37.4M$49.2M
Total operating expenses $275.0M$296.9M$160.1M$202.8M
Operating income -$260.9M-$285.5M-$143.2M-$170.7M
Pre-tax income -$76.8M-$275.0M-$125.5M-$148.3M
Income tax $1.0K$126.0K$74.0K
Net income -$134.0M-$274.1M-$124.8M-$148.0M
EPS, basic -0.35-2.40-1.40-1.73
EPS, diluted -0.35-2.40-1.40-1.73
Shares, diluted (wtd. avg.) $379.9M$114.3M$89.1M$85.3M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021
Cash and equivalents $293.5M$536.0M$426.0M$318.5M$243.0M
Short-term investments $872.2M$209.0M$163.6M$261.6M
Receivables $23.6M$28.6M$31.6M$25.9M
Total current assets $1.25B$834.6M$666.3M$643.6M
Total assets $1.81B$1.05B$747.1M$771.5M
Accounts payable $17.3M$15.1M$13.8M$10.0M
Short-term debt $3.9M
Total current liabilities $91.5M$70.9M$48.2M$48.1M
Total liabilities $103.8M$82.1M$51.9M$53.6M
Retained earnings -$1.42B-$1.29B-$739.5M-$614.7M
Total equity $1.65B$951.1M-$666.1M-$539.6M-$398.2M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021
Operating cash flow -$165.0M-$110.8M-$115.4M-$154.8M
Depreciation and amortisation $7.1M$9.8M$15.5M$17.6M
Stock-based compensation $30.8M$127.0M$3.3M$13.2M
Capital expenditure $43.9M$11.4M$5.1M$12.0M
Investing cash flow -$889.2M-$181.3M$136.5M$49.3M
Financing cash flow $814.8M$407.4M$89.8M$191.6M
Buybacks $994.0K

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-046406.

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