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20-F

Annual Report (Foreign)

Pony AI Inc. PONY PYAIF

0001104659-26-046406

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Filed
Apr 22, 2026 12:00 AM ET
Period of report

On SEC.gov

Financials in this filing

Metric Period Value
Shares Diluted FY 2025 · Dec 31, 2025 379.91M sh
Shares Diluted FY 2025 · Dec 31, 2024 114.32M sh
Shares Diluted FY 2025 · Dec 31, 2023 89.1M sh
Shares Outstanding FY 2025 · Dec 31, 2025 433.54M sh
Capex FY 2025 · Dec 31, 2025 $43.88M
Capex FY 2025 · Dec 31, 2024 $11.4M
Capex FY 2025 · Dec 31, 2023 $5.09M
Operating Cash Flow FY 2025 · Dec 31, 2025 −$164.96M
Operating Cash Flow FY 2025 · Dec 31, 2024 −$110.76M
Operating Cash Flow FY 2025 · Dec 31, 2023 −$115.42M
Short Term Investments FY 2025 · Dec 31, 2025 $872.16M
Short Term Investments FY 2025 · Dec 31, 2024 $209.04M
Cash And Equivalents FY 2025 · Dec 31, 2025 $293.49M
Cash And Equivalents FY 2025 · Dec 31, 2024 $535.98M
Cash And Equivalents FY 2025 · Dec 31, 2023 $425.96M
Stockholders Equity FY 2025 · Dec 31, 2025 $1.65B
Stockholders Equity FY 2025 · Dec 31, 2024 $951.12M
Current Liabilities FY 2025 · Dec 31, 2025 $91.48M
Current Liabilities FY 2025 · Dec 31, 2024 $70.89M
Total Liabilities FY 2025 · Dec 31, 2025 $103.84M
Total Liabilities FY 2025 · Dec 31, 2024 $82.11M
Current Assets FY 2025 · Dec 31, 2025 $1.25B
Current Assets FY 2025 · Dec 31, 2024 $834.62M
Total Assets FY 2025 · Dec 31, 2025 $1.81B
Total Assets FY 2025 · Dec 31, 2024 $1.05B
Eps Diluted FY 2025 · Dec 31, 2025 −$0.35
Eps Diluted FY 2025 · Dec 31, 2024 −$2.40
Eps Diluted FY 2025 · Dec 31, 2023 −$1.40
Eps Basic FY 2025 · Dec 31, 2025 −$0.35
Eps Basic FY 2025 · Dec 31, 2024 −$2.40
Eps Basic FY 2025 · Dec 31, 2023 −$1.40
Sga Expense FY 2025 · Dec 31, 2025 $57.6M
Sga Expense FY 2025 · Dec 31, 2024 $56.75M
Sga Expense FY 2025 · Dec 31, 2023 $37.42M
Rd Expense FY 2025 · Dec 31, 2025 $217.42M
Rd Expense FY 2025 · Dec 31, 2024 $240.18M
Rd Expense FY 2025 · Dec 31, 2023 $122.71M
Net Income FY 2025 · Dec 31, 2025 −$133.97M
Net Income FY 2025 · Dec 31, 2024 −$274.12M
Net Income FY 2025 · Dec 31, 2023 −$124.81M
Operating Income FY 2025 · Dec 31, 2025 −$260.86M
Operating Income FY 2025 · Dec 31, 2024 −$285.52M
Operating Income FY 2025 · Dec 31, 2023 −$143.24M
Gross Profit FY 2025 · Dec 31, 2025 $14.16M
Gross Profit FY 2025 · Dec 31, 2024 $11.4M
Gross Profit FY 2025 · Dec 31, 2023 $16.88M
Cost Of Revenue FY 2025 · Dec 31, 2025 $75.84M
Cost Of Revenue FY 2025 · Dec 31, 2024 $63.62M
Cost Of Revenue FY 2025 · Dec 31, 2023 $55.02M
Revenue FY 2025 · Dec 31, 2025 $90M
Revenue FY 2025 · Dec 31, 2024 $75.03M
Revenue FY 2025 · Dec 31, 2023 $71.9M
Stock Repurchased FY 2025 · Dec 31, 2023 $994K