Pony AI Inc's stock surged 5.46% during Wednesday's intraday trading session, extending gains following the company's impressive first-quarter financial results and significantly upgraded full-year outlook.

The autonomous driving technology company reported Q1 2026 revenue of $34.3 million, representing a 145% year-over-year increase, with its core robotaxi services revenue growing nearly fivefold to $8.6 million. The company also posted a better-than-expected adjusted loss of 9 cents per share, significantly beating analyst expectations of a 25-cent loss.

Management raised its 2026 targets substantially, increasing the global robotaxi fleet goal to more than 3,500 vehicles by year-end from a previous target of 3,000, and boosting the robotaxi revenue forecast to exceed 3.5 times 2025 levels, up from an earlier projection of 3 times. Analyst sentiment also supported the move, with Bank of America Securities reiterating its Buy rating on the stock.