Pony AI's Q2 revenue hit RMB 122M, up 120% YoY, as robotaxi revenue tripled. The company targets adjusted EBITDA breakeven by 2027, with vehicle costs down 45%.
Pony AI posted second-quarter revenue of RMB 122 million ($16.8 million), up 120% from a year earlier. Robotaxi revenue more than tripled to RMB 39 million, a 280% year-over-year gain and a 30% sequential increase.
Over 300 robotaxis now operate across Beijing and Shanghai, CEO James Peng said on the earnings call. Daily cumulative rides exceed 3,600. The company expanded its Beijing service area to 400 square kilometers.
Trucking revenue reached RMB 83 million, up 68% from a year earlier and 26% from the first quarter. In June, the autonomous trucking network hauled 12,600 tons of cargo. The fleet serves 90 partners.
Adjusted EBITDA loss narrowed to RMB 268 million ($36.9 million) from RMB 282 million in the first quarter. Loss per American Depositary Share came in at RMB 2.09 ($0.29). Cash and equivalents stood at RMB 2.9 billion ($398.4 million) as of June 30.
CFO Leo Wang told analysts the company expects third-quarter revenue of RMB 128 million to RMB 143 million ($18 million to $20 million). Wang said Pony AI is working toward adjusted EBITDA breakeven in 2026 or 2027.
BofA Securities analyst Ming-Hsun Lee pressed management on unit economics during the call. Peng replied that cost per vehicle has fallen 45% over the past 18 months. Sensor and compute costs declined over that period, Peng said.
Pony AI listed on Nasdaq in late 2024 through a SPAC merger. The stock closed at $10.50 on Monday, down 32% from its debut.
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