Pony AI (PONY) Research & Development (2023 - 2025)
Pony AI (PONY) posted Research & Development of -$60.5 million for Q4 2025, little changed sequentially from -$60.4 million in Q3 2025, and up 59.06% YoY from -$38.0 million in Q4 2024.
Pony AI (PONY) Research & Development (2023 - 2025) Analysis & Trends
Pony AI has reported Research & Development for 3 years, with the latest figure at -$60.5 million in Q4 2025.
- Quarterly Research & Development rose 59.06% year-over-year to -$60.5 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was -$217.4 million (up 9.48% YoY) and the FY2025 annual result came in at $217.4 million, down 9.48% from the prior year.
- Research & Development held at -$60.5 million in Q4 2025 per PONY's latest filing, from -$60.4 million in the prior quarter.
- Over five years, Research & Development peaked at -$29.0 million in Q2 2024 and troughed at -$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.
- The sharpest annual moves came in 2024 and 2025: Research & Development tumbled 375.68% in 2024, then jumped 59.06% in 2025.
- Over 3 years, Research & Development stood at -$31.1 million in 2023, then sank by 375.68% to -$147.8 million in 2024, then surged by 59.06% to -$60.5 million in 2025.
- According to Business Quant data, Research & Development over the past three periods registered -$60.5 million, -$60.4 million, and -$49.0 million for Q4 2025, Q3 2025, and Q2 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | International Business Machines | 219.38 Bn | 208.02 Bn | 9.91 Bn | 2.31 Bn |
| 2 | Accenture | 111.06 Bn | 100.89 Bn | 6.13 Bn | 1.81 Bn |
| 3 | Infosys | 47.96 Bn | 47.96 Bn | 1.60 Bn | 270.00 Mn |
| 4 | Cgi | 32.80 Bn | 32.34 Bn | - | - |
| 5 | Cognizant Technology Solutions | 28.32 Bn | 27.27 Bn | 1.83 Bn | - |
| 6 | Fidelity National Information Services | 20.92 Bn | 20.17 Bn | 1.17 Bn | - |
| 7 | Broadridge Financial Solutions | 20.67 Bn | 20.27 Bn | 853.00 Mn | - |
| 8 | Wipro | 19.82 Bn | 18.75 Bn | 738.00 Mn | -174.00 Mn |
| 9 | Leidos Holdings | 17.78 Bn | 17.03 Bn | 817.00 Mn | - |
| 10 | Pony AI | 2.94 Bn | 2.94 Bn | 3.71 Mn | -60.52 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -60.52 Mn |
| Sep 30, 2025 | -60.38 Mn |
| Jun 30, 2025 | -49.03 Mn |
| Mar 31, 2025 | -47.49 Mn |
| Dec 31, 2024 | -147.84 Mn |
| Sep 30, 2024 | -33.61 Mn |
| Jun 30, 2024 | -29.01 Mn |
| Mar 31, 2024 | -29.71 Mn |
| Dec 31, 2023 | -31.08 Mn |