Pony AI (PONY) Research & Development (2023 - 2025)

Pony AI (PONY) has 3 years of Research & Development data on file, last reported at -$60.5 million in Q4 2025.

• For the quarter ending Q4 2025, Research & Development rose 59.06% year-over-year to -$60.5 million; the trailing twelve-month figure through Dec 2025 stood at -$217.4 million (up 9.48% YoY), and the FY2025 full-year result was $217.4 million, down 9.48% from the prior year.
• Research & Development held at -$60.5 million in Q4 2025, from -$60.4 million in the prior quarter.
• In the past five years, Research & Development ranged from a high of -$29.0 million in Q2 2024 to a low of -$147.8 million in Q4 2024.
• A 3-year average of -$54.3 million and a median of -$47.5 million in 2025 frame the typical range for Research & Development.
• Across the five-year window, Research & Development sank 375.68% in 2024 and surged 59.06% in 2025, its largest moves.
• Tracing PONY's Research & Development over 3 years: stood at -$31.1 million in 2023, then slumped by 375.68% to -$147.8 million in 2024, then surged by 59.06% to -$60.5 million in 2025.
• Business Quant data shows PONY's Research & Development at -$60.5 million in Q4 2025, -$60.4 million in Q3 2025, and -$49.0 million in Q2 2025.