Pony AI (PONY) Gross Margin (2023 - 2025)

Pony AI (PONY) posted Gross Margin of 12.75% for Q4 2025, down 30.53% sequentially from 18.35% in Q3 2025, and down 824.0% YoY from 1.76% in Q4 2024.

Pony AI (PONY) Gross Margin (2023 - 2025) Analysis & Trends

Pony AI has reported Gross Margin for 3 years, with the latest figure at 12.75% in Q4 2025.

Quarterly Gross Margin fell 824.0% year-over-year to 12.75% in Q4 2025, while the trailing twelve-month figure through Dec 2025 was 15.73% (up 54.0% YoY) and the FY2025 annual result came in at 15.73%, up 54.0% from the prior year.
Gross Margin slipped to 12.75% in Q4 2025 per PONY's latest filing, from 18.35% in the prior quarter.
Over five years, Gross Margin peaked at 33.89% in Q4 2023 and troughed at 0.34% in Q2 2024.
A 3-year average of 16.5% and a median of 16.57% in 2025 frame the typical range for Gross Margin.
The sharpest annual moves came in 2024 and 2025: Gross Margin slumped 1290 bps in 2024, then jumped 1648 bps in 2025.
Over 3 years, Gross Margin stood at 33.89% in 2023, then tumbled by 38 bps to 20.99% in 2024, then sank by 39 bps to 12.75% in 2025.
According to Business Quant data, Gross Margin over the past three periods registered 12.75%, 18.35%, and 16.14% for Q4 2025, Q3 2025, and Q2 2025 respectively.

#	Company	Market Cap	Enterprise Value	Gross Profit (Qtr)	Gross Margin (Qtr)
1	International Business Machines	222.01 Bn	210.65 Bn	9.91 Bn	57.73%
2	Accenture	112.47 Bn	102.30 Bn	6.13 Bn	32.77%
3	Infosys	48.53 Bn	48.53 Bn	1.60 Bn	31.48%
4	Cgi	32.96 Bn	32.50 Bn	-	-
5	Cognizant Technology Solutions	28.75 Bn	27.70 Bn	1.83 Bn	33.37%
6	Fidelity National Information Services	21.33 Bn	20.58 Bn	1.17 Bn	34.76%
7	Broadridge Financial Solutions	21.10 Bn	20.70 Bn	853.00 Mn	38.43%
8	Wipro	19.72 Bn	18.65 Bn	738.00 Mn	28.54%
9	Leidos Holdings	17.79 Bn	17.04 Bn	817.00 Mn	17.92%
10	Pony AI	3.10 Bn	3.10 Bn	3.71 Mn	12.75%

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