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

Pony AI's Research & Development history spans 3 years, with the latest figure at -$60.5 million for Q4 2025.

  • On a quarterly basis, Research & Development rose 59.06% to -$60.5 million in Q4 2025 year-over-year; TTM through Dec 2025 was -$217.4 million, a 9.48% increase, with the full-year FY2025 number at $217.4 million, down 9.48% from a year prior.
  • Research & Development hit -$60.5 million in Q4 2025 for Pony AI, roughly flat from -$60.4 million in the prior quarter.
  • Over the last five years, Research & Development for PONY hit a ceiling of -$29.0 million in Q2 2024 and a floor of -$147.8 million in Q4 2024.
  • Historically, Research & Development has averaged -$54.3 million across 3 years, with a median of -$47.5 million in 2025.
  • Biggest five-year swings in Research & Development: plummeted 375.68% in 2024 and later skyrocketed 59.06% in 2025.
  • Tracing PONY's Research & Development over 3 years: stood at -$31.1 million in 2023, then plummeted by 375.68% to -$147.8 million in 2024, then skyrocketed by 59.06% to -$60.5 million in 2025.
  • Business Quant data shows Research & Development for PONY at -$60.5 million in Q4 2025, -$60.4 million in Q3 2025, and -$49.0 million in Q2 2025.