Pony AI (NASDAQ:PONY) jumped 6% on Tuesday after the autonomous driving firm delivered third-quarter revenue that came in well ahead of analyst forecasts.
The company reported $25.4 million in quarterly revenue, topping the consensus estimate of $22.8 million. Gross profit for the period reached $4.67 million, while operating expenses totaled $74.3 million.
“Total revenues rose by 72.0% year-over-year, driven by strong growth from Robotaxi services and Licensing & Applications,” the company said.
The sharp revenue increase reflects the company’s continued expansion across its autonomous driving services and technology licensing operations compared with the same period last year.