Pony AI’s shares declined 4.8% to HK$59.15 on Wednesday, extending losses into a third straight session as investors focused on the company’s widening cash burn despite strong revenue growth.
The robotaxi operator reported quarterly revenue of $36.2 million, up 68.8% year-over-year, driven by record increases in robotaxi fare revenue. However, its non-GAAP loss per share narrowed to $0.10, coming in below analyst expectations. For the first half of 2026, Pony AI’s net loss deepened by nearly 15% year-over-year to $110 million, underscoring persistent operating costs.
The company remains on track to expand its fleet to more than 3,500 robotaxi vehicles by year-end, with an accelerated international push including a contracted deployment of over 2,000 robotaxis in Europe through a partnership with Uber. CEO James Peng has previously highlighted regulatory hurdles for robotaxis, according to Bloomberg.
The stock’s decline follows a broader selloff in Hong Kong and Chinese technology shares, with investors adopting a cautious stance after the earnings release amid concerns over sustained cash burn despite revenue growth.
