Pony AI Inc.
PONY, PYAIF · Services-Computer Integrated Systems Design · EDGAR filings ↗
Reference price $8.69 — last insider sale, 2026-03-30 (estimated from the dated SEC Form 4 price — not a live quote)
Grade
D42a China-based autonomous-driving (robotaxi) developer with operating losses and cash burn, very well-funded.
Strengths
- Liquidity / growth — cash-rich (current ratio 13.7, 94th)
Risks
- Operating losses & cash burn — per metrics
- Capital-need dependence — per 10-K
- Execution/competition risk — per 10-K
Notable findings
- Net lossNet loss (net margin -148.9%)
- Strong balance sheetStrong balance sheet — $1.6B cash & investments
- Notable holderHeld by 6 notable fund(s): FMR LLC, TIGER GLOBAL MANAGEMENT LLC, CITADEL ADVISORS LLC +3 more (as of 2026-03-31)
- Insider sellingInsider selling — 4 open-market sale(s) by 4 insider(s) (cluster of 4 insiders, ~$804,932, last 6mo) Form 4 ↗
Key metrics
Gross margin
15.7%
Operating margin
-289.8%
Net margin
-148.9%
Return on equity
-8.1%
Return on assets
-7.4%
Revenue growth (QoQ)
20.0%
Current ratio
13.7×
EBITDA
-$254M
Tangible book value
$1.7B
Cash & investments
$1.6B
Stock comp / revenue
34.2%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-03-30 | ZHANG NING | Sell | 23K | $8.69 |
| 2026-03-30 | Gao Tian | Sell | 32K | $8.69 |
| 2026-03-30 | Mo Luyi | Sell | 20K | $8.69 |
| 2026-03-30 | Wang Haojun | Sell | 18K | $8.69 |
| 2026-03-25 | Lou Tiancheng | Option exercise | 31K | — |
| 2026-03-25 | Lou Tiancheng | Disposition | 31K | $11.39 |
| 2026-03-25 | ZHANG NING | Option exercise | 11K | — |
| 2026-03-25 | ZHANG NING | Option exercise | 1.2K | — |
| 2026-03-25 | ZHANG NING | Option exercise | 10K | — |
| 2026-03-25 | ZHANG NING | Option exercise | 20K | — |
| 2026-03-25 | Gao Tian | Option exercise | 16K | — |
| 2026-03-25 | Gao Tian | Option exercise | 813 | — |
| 2026-03-25 | Gao Tian | Option exercise | 7.5K | — |
| 2026-03-25 | Gao Tian | Option exercise | 32K | — |
| 2026-03-25 | Wang Haojun | Option exercise | 963 | — |
| 2026-03-25 | Wang Haojun | Option exercise | 10K | — |
| 2026-03-25 | Wang Haojun | Option exercise | 24K | — |
| 2026-03-25 | Mo Luyi | Option exercise | 11K | — |
| 2026-03-25 | Mo Luyi | Option exercise | 1.2K | — |
| 2026-03-25 | Mo Luyi | Option exercise | 944 | — |
| 2026-03-25 | Mo Luyi | Option exercise | 9.1K | — |
| 2026-03-25 | Mo Luyi | Option exercise | 15K | — |
All non-derivative Form 4 activity (SEC), newest first.
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-04-22 | 2025-12-31 | 0001104659-26-046406 ↗ |
| 20-F | 2025-04-25 | 2024-12-31 | 0001410578-25-000895 ↗ |