PONY-W (02026) announced its financial results for the third quarter ended September 30, 2025. Total revenue for Q3 2025 reached $25.4 million (RMB 181 million), marking a 72.0% increase compared to $14.8 million in Q3 2024. This growth was primarily driven by strong performance in autonomous mobility services and technology licensing.

The gross margin for Q3 2025 improved to 18.4%, up from 9.2% in the same period last year, attributed to revenue structure optimization, particularly higher-margin autonomous mobility services. However, the net loss widened to $61.6 million (RMB 438 million), with a basic loss per share of $0.16.

Key operational highlights include: - PONY-W achieved single-vehicle profitability for its seventh-generation autonomous taxis in Guangzhou. - The company expects to exceed its 2025 fleet expansion target ahead of schedule, aiming for over 3,000 vehicles by the end of next year. - Successfully completed a dual-primary listing in Hong Kong, raising over $800 million to accelerate mass production, commercialization, R&D, and market expansion. - The seventh-generation autonomous taxis commenced full commercial operations in Guangzhou, Shenzhen, and Beijing, with rider fare revenue surging over 200% YoY.

Dr. Peng Jun, Chairman and CEO of PONY-W, stated: "Our dual-primary listing in Hong Kong provides long-term capital support for large-scale commercialization. The deployment of our seventh-generation autonomous taxis in major Chinese cities further advances driverless mobility."

Dr. Lou Tiancheng, CTO, highlighted the company’s technological edge: "Our proprietary world model, PonyWorld, integrates high-fidelity simulation and AI-driven self-learning, forming a key competitive barrier. The seventh-generation taxis translate this advantage into scalable commercial value."

Dr. Wang Haojun, CFO, emphasized financial resilience: "Strong revenue growth and our Hong Kong IPO proceeds strengthen our balance sheet, enabling rapid expansion and sustained growth."