Pony AI (PONY) Operating Expenses (2023 - 2025)
Pony AI (PONY) posted Operating Expenses of -$77.6 million for Q4 2025, down 4.36% sequentially from -$74.3 million in Q3 2025, and up 57.03% YoY from -$49.4 million in Q4 2024.
Pony AI (PONY) Operating Expenses (2023 - 2025) Analysis & Trends
Pony AI has reported Operating Expenses for 3 years, with the latest figure at -$77.6 million in Q4 2025.
- Quarterly Operating Expenses rose 57.03% year-over-year to -$77.6 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was -$275.0 million (up 7.38% YoY) and the FY2025 annual result came in at $275.0 million, down 7.38% from the prior year.
- Operating Expenses fell to -$77.6 million in Q4 2025 per PONY's latest filing, from -$74.3 million in the prior quarter.
- Over five years, Operating Expenses peaked at -$37.0 million in Q2 2024 and troughed at -$180.6 million in Q4 2024.
- A 3-year average of -$68.4 million and a median of -$58.4 million in 2025 frame the typical range for Operating Expenses.
- The sharpest annual moves came in 2024 and 2025: Operating Expenses slumped 313.94% in 2024, then soared 57.03% in 2025.
- Over 3 years, Operating Expenses stood at -$43.6 million in 2023, then plunged by 313.94% to -$180.6 million in 2024, then jumped by 57.03% to -$77.6 million in 2025.
- According to Business Quant data, Operating Expenses over the past three periods registered -$77.6 million, -$74.3 million, and -$64.7 million for Q4 2025, Q3 2025, and Q2 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | International Business Machines | 223.69 Bn | 212.33 Bn | 9.91 Bn | 7.29 Bn |
| 2 | Accenture | 114.51 Bn | 104.34 Bn | 6.13 Bn | 15.54 Bn |
| 3 | Infosys | 48.98 Bn | 48.98 Bn | 1.60 Bn | 528.00 Mn |
| 4 | Cgi | 33.19 Bn | 32.72 Bn | - | 12.44 Mn |
| 5 | Cognizant Technology Solutions | 29.31 Bn | 28.26 Bn | 1.83 Bn | 812.00 Mn |
| 6 | Fidelity National Information Services | 21.48 Bn | 20.74 Bn | 1.17 Bn | 684.00 Mn |
| 7 | Broadridge Financial Solutions | 21.05 Bn | 20.65 Bn | 853.00 Mn | 1.67 Bn |
| 8 | Wipro | 19.77 Bn | 18.70 Bn | 738.00 Mn | 2.23 Bn |
| 9 | Leidos Holdings | 17.85 Bn | 17.10 Bn | 817.00 Mn | 310.00 Mn |
| 10 | Pony AI | 3.10 Bn | 3.10 Bn | 3.71 Mn | -77.59 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -77.59 Mn |
| Sep 30, 2025 | -74.34 Mn |
| Jun 30, 2025 | -64.73 Mn |
| Mar 31, 2025 | -58.36 Mn |
| Dec 31, 2024 | -180.55 Mn |
| Sep 30, 2024 | -42.07 Mn |
| Jun 30, 2024 | -36.97 Mn |
| Mar 31, 2024 | -37.34 Mn |
| Dec 31, 2023 | -43.62 Mn |