Pony AI on Tuesday reported a quintupling of robotaxi revenue and increased sales targets as the Chinese vehicle company also saw widening losses.

Pony said its first-quarter revenue rose 145% to $34.3 million, while its net loss widened to $53.5 million from $37.4 million. On an adjusted basis, it lost 9 cents per American depository receipt. Analysts polled by FactSet expected a loss of 12 cents on sales of $22 million.

Pony said it's raising its Robotaxi revenue growth view to more than 3.5 times 2025 levels, from 3 times, and Robotaxi fleet-size target to over 3,500 units from 3,000.

Pony ADRs (PONY) (HK:2026) rose 11% in premarket trade.

Pony said it was growing not only in China but also has started operations in Europe with a launch in Croatia, partnering with Uber $(UBER)$ and local player Verne. Pony also is operational in Qatar, Singapore and South Korea.