On March 25, 2025, before market hours, Pony AI issued a press release in which it announced its unaudited financial results for the quarter and full year ended December 31, 2024. In the press release, Pony AI stated that total revenue was down to “$35.5. million in the fourth quarter of 2024, representing a decrease of 29.8% from US$50.6 million in the fourth quarter of 2023. The decrease was mainly influenced by the timing of project-based revenue recognition.” In addition, the press release stated that robotaxi services were down to “$2.6 million in the fourth quarter of 2024, representing a decrease of 61.9% from US$6.7 million in the fourth quarter of 2023. The decrease was mainly driven by reduced service fees from providing autonomous vehicle engineering solutions based on our collaboration projects’ progression schedule.”
On this news, Pony AI’s American Depositary Shares (“ADSs”) fell $1.07 per ADS, or 8.1%, to close at $12.14 per ADS on March 25, 2025.
