Pony AI Inc. (NASDAQ:PONY) is one of the best debt-free IT stocks to buy now.
On May 26, the company delivered solid first-quarter results as it continues to scale its commercial operations, supported by a scaled fleet, technological capabilities, and operational capabilities
Copyright: dolgachov / 123RF Stock Photo Revenue in the quarter was up 145% year over year to $34.25 million, driven by growth in Robotaxi services and intelligence solutions revenue. Service revenues increased 61.4% to $16.7 million, driven by Robotaxi and Robotruck transportation services. Product revenues were up 384.4% to $17.5 million.
On the other hand, the company posted a wider-than-expected non-GAAP net loss of $41.2 million, compared with $23.8 million in the first quarter of last year. The wider-than-expected net loss was due to non-operating items reflecting a decrease in investment income. As Pony AI continues to scale its operations, it has raised its 2026 targets and now expects to end the year with a Robotaxi fleet of more than 3,500 vehicles deployed in over 20 cities.