Pony AI’s stock climbed 2.4% in pre-market trading to $8.02 on Tuesday, extending gains following the company’s second-quarter earnings release and the launch of its autonomous ride-hailing service in Zagreb, Croatia.
The robotaxi operator began offering self-driving rides through the Uber app in Europe for the first time, marking a strategic expansion beyond its core markets in China. The service operates in partnership with local mobility provider Verne and leverages Pony AI’s autonomous driving technology stack.
Pony AI reported total revenue of $36.2 million for the quarter ended June 30, up 69% year-over-year. Robotaxi revenue surged 691% to $12.1 million, reflecting accelerating demand for autonomous mobility solutions. The company’s non-GAAP loss per share narrowed by 33.3% compared with analyst expectations, signaling improving operational efficiency.
Analysts have taken notice of the company’s progress. BNP Paribas Exane upgraded Pony AI from Neutral to Outperform, joining a consensus view that now includes 16 buy ratings out of 18 total analyst recommendations. The 12-month price target remains well above current trading levels, though specific figures were not disclosed.
Broader equity markets showed limited movement on the day of the report. The NASDAQ edged up 0.1%, while the S&P 500 and Dow Jones Industrial Average were essentially flat, suggesting the gains in Pony AI were driven primarily by company-specific developments rather than broader market trends.
Pony AI’s shares remain significantly below their 52-week high of $24.92, reflecting both the volatility inherent in early-stage autonomous vehicle companies and the long-term investment horizon required for commercial deployment at scale.
