Pony Ai Inc. Class A · HKEX:2026
Pony Ai Inc. Class A — Q1 2026 Earnings Presentation
27 slides from Pony Ai Inc. Class A's earnings presentation, May 2026
Slide 1: Business Update
Business Update May 2026 0
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Pony AI Inc. (the “Company”) solely for informational purposes and has not been independently verified. No representations, warranties or undertakings, express or implied, are made by the Company or any of its officers, directors, affiliates, adviser
Slide 3: Business Updates
Business Updates Chairman and CEO Dr. James Peng 2
Slide 4: Pony.ai: A Leading Autonomous Driving Company
Pony.ai: A Leading Autonomous Driving Company Core Virtual Driver Technology, with Tech Stack Shareable Across Three BUs Robotruck Partnership with China’s leading truck manufacturer and China’s largest freight logistics company for Robotruck development and commercialization Robotaxi Pony Urban mob
Slide 5: 1Q26 Key Highlights
1Q26 Key Highlights Growth Scale Footprint +145% 1,700+ Recent Expansion Total revenues YoY growth1 Robotaxi fleet size2 Guangzhou +395% 200%+ Downtown Area Robotaxi revenues YoY growth1 Registered User YoY in China2 +456% 100%+ Croatia Europe 1st Commercial Fare-charging revenues YoY Weekly average
Slide 6: Exponential Growth in Robotaxi Revenues
Exponential Growth in Robotaxi Revenues Domestic Market: International Market: Primary Growth Engine Expanding Global Footprint Croatia Fare-charging operations Haizhu Core Downtown Areas District Expansion Robotaxi Presence in 9 Countries Increased Fleet Density Seamless deployment Dubai across div
Slide 7: Building Our Commercial Moat
Building Our Commercial Moat Three pillars cementing our industry leadership Large-scale Excellent Technology Superior Fleet & Operation User Experience 6
Slide 8: Building Our Commercial Moat (cont'd)
Building Our Commercial Moat (cont’d) Three pillars cementing our industry leadership Large-scale Excellent Technology Superior Fleet & Operation User Experience 1,700+ Cost Optimization Robotaxi Fleet Size1 • BOM cost less than RMB230,0002 • Enable rapid fleet size scaling Notes: 1. As of May 24, 2
Slide 9: Building Our Commercial Moat (cont'd)
Building Our Commercial Moat (cont’d) Three pillars cementing our industry leadership Large-scale Excellent Technology Superior Fleet & Operation User Experience Safety First • Industry-leading L4 technology • Vehicle-level intelligence • Resilient fleet management • Mastery of complex scenarios 8
Slide 10: Building Our Commercial Moat (cont'd)
Building Our Commercial Moat (cont’d) Three pillars cementing our industry leadership Large-scale Excellent Technology Superior Fleet & Operation User Experience Robust demand despite premium pricing 100%+ Weekly average paid orders growth in May vs. January 1 Notes: 1. Weekly average paid orders fo
Slide 11: Beyond Robotaxi: Expanding AD Opportunities
Beyond Robotaxi: Expanding AD Opportunities Robotruck Intra-city Logistics Gen-4 Robotruck L4 Autonomous Light Truck 2H26 Mass Production • Expand Addressable Market • Leverage Robotaxi Tech Pre-production Stack Rolling off Production Line Intelligent Solutions2 +31% 500%+ Q1 Revenues YoY1 Autonomou
Slide 12: 2026 Outlook: Accelerated Path Forward
2026 Outlook: Accelerated Path Forward 3,500+ 3.5x 20+ Robotaxi Fleet1 Robotaxi Revenues2 Cities1 Upsized from initial Upsized from initial Expanding our global footprint guidance of 3,000 guidance of more than tripling vs. 2025 Notes: 1. 2026 target. 2. 2026 Robotaxi revenues to grow 3.5 times from
Slide 13: Technology Progress
To update Technology Progress CTO Dr. Tiancheng Lou 12
Slide 14: A Strong Start in 2026 Proves Solid Technology Foundation
A Strong Start in 2026 Proves Solid Technology Foundation TODAY YEAR-END TARGET 1,700+ Robotaxi Vehicles1 3,500+ Robotaxi Vehicles ~400% YoY Q1 Robotaxi Revenues 3.5x 2026 Robotaxi Revenues vs. 20252 Expand rapidly into high-value markets Downtown Core Area Case: Guangzhou concert • Downtown core ar
Slide 15: Three Core Technical Pillars
Three Core Technical Pillars 01 02 03 Exceptional Training Robust Fail-operational Safe & Efficient Fleet Paradigm Redundancy Management A unified system of hardware and Every vehicle is built with Build a scaled intelligence to a city- software-chassis, sensors and multi-layered redundancy to wide
Slide 16: Training Paradigm: L4 Cannot Be Solved By Imitation or LLM Scaling Laws
1 Training Paradigm: L4 Cannot Be Solved By Imitation or LLM Scaling Laws 01 02 03 L4 is held to a far higher Imitating human and safety bar than human simple scaling law like Driving gives no second drivers LLM capped at L2 try A human's mistake is tolerated; Only good in assisted driving with Code
Slide 17: Fail-operational Capability across the Full Stack
2 Fail-operational Capability across the Full Stack Safety Consideration Safety at Algorithmic Level Safety at Vehicle Level Measures Full-stack, multi-layer Can work normally redundancy without network or GPS Can drive normally even under no If any component fails, the car stays fully network, whic
Slide 18: Safe & Efficient Fleet Management: A City-Wide Safety Net
3 Safe & Efficient Fleet Management: A City-Wide Safety Net Safety Consideration Safety at Vehicle Level Safety at Entire Fleet Level Measures Prevention Detection Response Dedicated safety teams prevent Smart dispatch manages Dedicated ground support safety issues before they demand spikes and inst
Slide 19: Technology Makes Operations Safe; Scale Builds Our Moat
Technology Makes Operations Safe; Scale Builds Our Moat Optimal & Safe Structural Visionary Operations Moat Foundation The correct tech stack, Trusted Robotaxi First-mover advantage chosen from day one service at large scale to expand in high-value markets Unlocking greater commercial value and deli
Slide 20: Financial Updates
Financial Updates CFO Dr. Leo Wang 19
Slide 21: 1Q26 Financial Highlights
1Q26 Financial Highlights Total Revenues Robotaxi Revenues $8.6M (US$mm) $34.3M (US$mm) Record Quarterly High +145% YoY 8.6 34.3 +395% +145% 14.0 1.7 1Q25 1Q26 1Q25 1Q26 +395% +456% YoY YoY Triple-digit topline growth driven by Robotaxi and Intelligent Solutions Robotaxi Revenues Fare-charging Reven
Slide 22: Strong Growth in Robotaxi Segment
Strong Growth in Robotaxi Segment Operating Metrics Demonstrate Commercial Momentum 1. User Demand & Stickiness 2. Pricing Power Strong growth in paid orders and users Industry Leading Pricing Power 100%+ 200%+ • Superior ride experience • Technological robustness, esp. during Weekly average paid Re
Slide 23: Strong Growth in Robotaxi Segment (cont'd)
Strong Growth in Robotaxi Segment (cont’d) 3. Operating & BOM Cost Reduction Operational leverage < RMB230,0001 By mid-2027 as fleet scales For domestic market 4. Joint Deployment Model Croatia Efficient use of capital Both domestic & overseas partners Europe 1st Commercial Robotaxi Service Notes: 1
Slide 24: Robotruck and Intelligent Solutions
Robotruck and Intelligent Solutions Robotruck Services Intelligent Solutions (US$mm) (US$mm) 10.2 15.5 7.8 +31% +246% 4.5 1Q25 1Q26 1Q25 1Q26 Driven by: • Increase in # of trucks Driven by: • Diversified client expansion • Strong sales of autonomous domain controllers L4 autonomous light truck & Gen
Slide 25: Costs and Margins: Operating Leverage in Action
Costs and Margins: Operating Leverage in Action Cost of Revenues Operating Expenses Continued investment, especially US$63.9M in R&D, to maintain technology US$28.7M +9.5% YoY leadership Gross Margin Non-GAAP Effectively driving down BOM cost 16.2% US$59.3M +20.2% YoY Vehicle BOM cost < RMB230k1 Not
Slide 26: Costs and Margins: Operating Leverage in Action (cont'd)
Costs and Margins: Operating Leverage in Action (cont’d) Loss from Operations Net Loss US$58.3M Relatively flat YoY US$53.5M Increase mainly due to investment income vs. US$56.0M in 1Q25 vs. US$37.4M in 1Q25 realized in 1Q25 Significant Margin Improvement YoY Loss from Operations Margin +231 pp Net
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