Pony AI Inc. (PONY) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 3, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-K for FY2025, filed Apr 22, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PONY SEC filings page.
Pony AI Inc. (PONY) reported $90.0M in revenue for fiscal year 2025, up 20.0% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
The dominant mechanic is capital-funded expansion: asset growth and investment outpace internally generated cash while operating losses remain substantial.
Assets expanded by72.5% over one year while investing cash flow reached-$889M , showing that expansion required a major increase in capital deployment. Financing cash flow of$815M alongside operating cash flow of-$165M indicates that expansion and ongoing operations were funded externally rather than by the business’s own cash generation.
Revenue increased
Operating loss narrowed
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Pony AI Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Pony AI Inc. held $1.6B in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $165.0M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Pony AI Inc. scores 76/100 among other emerging companies.
Pony AI Inc. had 434M shares outstanding at the end of fiscal year 2025. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Pony AI Inc. scores 32/100 among other emerging companies.
Pony AI Inc. spent $217.4M on research and development in fiscal year 2025, which was 62.0% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Pony AI Inc. scores 85/100 among other emerging companies.
Pony AI Inc. reported revenue of $90.0M in fiscal year 2025, against $75.0M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Pony AI Inc. scores 58/100 among other emerging companies.
Pony AI Inc.'s operations used $165.0M of cash in fiscal year 2025, against $110.8M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Pony AI Inc. scores 31/100 among other emerging companies.
Pony AI Inc.'s cash, cash equivalents and investments came to $1.6B at the end of fiscal year 2025, against $103.8M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Pony AI Inc. scores 99/100 among other emerging companies.
Pony AI Inc. scores 14.51, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($2.6B) relative to total liabilities ($103.8M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Pony AI Inc. passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
Pony AI Inc. reported a net loss of $134.0M while operations used $165.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
None of these metrics is reported for Q4 2025.
Cash & Balance Sheet
Pony AI Inc. held $293.5M in cash as of Q4 2025; long-term debt is not reported for that period.
Not reported for Q4 2025.
Not reported for Q4 2025.
Margins & Returns
None of these metrics is reported for Q4 2025.
Capital Allocation
None of these metrics is reported for Q4 2025.
PONY Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
PONY Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2510-K | Q4'2410-K | Q4'2310-K | Q4'2210-K |
|---|---|---|---|---|
| Total Assets | $1.8B+72.5% | $1.1B+40.7% | $747.1M-3.2% | $771.5M |
| Current Assets | $1.3B+49.8% | $834.6M+25.3% | $666.3M+3.5% | $643.6M |
| Cash & Equivalents | $293.5M-45.2% | $536.0M+25.8% | $426.0M+34.7% | $316.3M |
| Short-Term Investments | $872.2M+317.2% | $209.0M+27.8% | $163.6M-37.5% | $261.6M |
| Accounts Receivable | $23.6M-17.2% | $28.6M-9.6% | $31.6M+21.9% | $25.9M |
| Long-Term Investments | $454.9M+247.8% | $130.8M+152.9% | $51.7M-35.9% | $80.7M |
| Total Liabilities | $103.8M+26.5% | $82.1M-94.2% | $1.4B+7.7% | $1.3B |
| Current Liabilities | $91.5M+29.0% | $70.9M+47.2% | $48.2M+0.1% | $48.1M |
| Non-Current Liabilities | $12.4M+10.1% | $11.2M-99.2% | $1.4B+7.9% | $1.3B |
| Total Equity | $1.7B+73.7% | $951.1M+240.4% | -$677.3M-22.8% | -$551.5M |
| Retained Earnings | -$1.4B-10.4% | -$1.3B-74.1% | -$739.5M-20.3% | -$614.7M |
Not reported in any period shown, so not listed: Inventory, Goodwill, Long-Term Debt.
PONY Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
PONY Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Pony AI Inc. PONY | FY2025 | $90.0M | -$134.0M | N/A | $2.6B | 64/100 |
| Ingram Micro Holding Corporation INGM | FY2025 | $52.6B | $327.9M | 0.6% | $6.6B | 50/100 |
| Science Applications International Corporation SAIC | FY2026 | $7.3B | $358.0M | 4.9% | $5.2B | 45/100 |
| Applied Digital Corporation APLD | FY2026 | $611.3M | -$250.3M | -40.9% | $7.6B | 40/100 |
| ExlService Holdings, Inc. EXLS | FY2025 | $2.1B | $251.0M | 12.0% | $5.4B | 77/100 |
Where Pony AI Inc. Ranks
Frequently Asked Questions
What is Pony AI Inc.'s annual revenue?
Pony AI Inc. (PONY) reported $90.0M in total revenue for fiscal year 2025. This represents a 20.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Pony AI Inc.'s revenue growing?
Pony AI Inc. (PONY) revenue grew by 20.0% year-over-year, from $75.0M to $90.0M in fiscal year 2025.
Is Pony AI Inc. profitable?
No, Pony AI Inc. (PONY) reported a net income of -$134.0M in fiscal year 2025.
What is Pony AI Inc.'s EBITDA?
Pony AI Inc. (PONY) had EBITDA of -$253.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Pony AI Inc.'s gross margin?
Pony AI Inc. (PONY) had a gross margin of 15.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Pony AI Inc.'s return on equity (ROE)?
Pony AI Inc. (PONY) has a return on equity of -8.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Pony AI Inc.'s free cash flow?
Pony AI Inc. (PONY) recorded an outflow of $208.8M in free cash flow during fiscal year 2025. This represents a -71.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Pony AI Inc.'s operating cash flow?
Pony AI Inc. (PONY) recorded an outflow of $165.0M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Pony AI Inc.'s total assets?
Pony AI Inc. (PONY) had $1.8B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Pony AI Inc.'s capital expenditures?
Pony AI Inc. (PONY) invested $43.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Pony AI Inc. spend on research and development?
Pony AI Inc. (PONY) invested $217.4M in research and development during fiscal year 2025.
What is Pony AI Inc.'s current ratio?
Pony AI Inc. (PONY) had a current ratio of 13.67 as of fiscal year 2025, which is generally considered healthy.
What is Pony AI Inc.'s debt-to-equity ratio?
Pony AI Inc. (PONY) had a debt-to-equity ratio of 0.06 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Pony AI Inc.'s return on assets (ROA)?
Pony AI Inc. (PONY) had a return on assets of -7.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Pony AI Inc.'s P/E ratio?
Pony AI Inc. (PONY) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $2.6B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Pony AI Inc.'s price-to-sales ratio?
Pony AI Inc. (PONY) trades at 29.4x sales, its market capitalization divided by revenue of $90.0M revenue, FY2025. The market capitalization is $2.6B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Pony AI Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Pony AI Inc. (PONY) held $1.6B in cash, cash equivalents and investments, and reported an operating cash outflow of $165.0M over that year. Dividing the one by the other, the reported balance equals about 118 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Pony AI Inc.'s Altman Z-Score?
Pony AI Inc. (PONY) has an Altman Z-Score of 14.51, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Pony AI Inc.'s Piotroski F-Score?
Pony AI Inc. (PONY) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Pony AI Inc.'s earnings high quality?
Pony AI Inc. (PONY) reported a net loss of $134.0M while operations used $165.0M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Pony AI Inc.?
Pony AI Inc. (PONY) scores 64 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.