Pony AI Inc. balance sheet PONY

Annual Quarterly

As of Dec 31, 2025, Pony AI Inc. had total assets of $1.8 billion and total liabilities of $103.8 million. Total assets were up 72.5% from a year earlier. Stockholders' equity was $1.7 billion. It held $1.6 billion in cash and investments against $16.5 million of total debt, net cash of $1.6 billion. The current ratio, current assets divided by current liabilities, was 13.67.

USD in millions, except ratios and per-share amounts. The percent under a figure is the change from the year before.

FY 2025
Dec 31, 2025
FY 2024
Dec 31, 2024
Assets
Cash
293
-45.2%
536
Short-term investments
872
+317.2%
209
Long-term investments
455
+247.8%
131
Cash and investments
1,621
+85.0%
876
Receivables
24
-17.2%
29
Total current assets
1,251
+49.8%
835
Property and equipment, net
60
+250.7%
17
Total assets
1,813
+72.5%
1,051
Liabilities and equity
Accounts payable
17
+14.1%
15
Total current liabilities
91
+29.0%
71
Total liabilities
104
+26.5%
82
Stockholders' equity
1,652
+73.7%
951
Debt
Lease liabilities
17
+10.3%
15
Total debt
17
-12.7%
15
Net cash
1,604
+87.2%
861
Ratios
Current ratio
13.67x
11.77x
Debt to equity
0.01x
0.02x
Return on equity
-8.11%
-28.82%
Return on assets
-7.39%
-26.09%
How these figures are calculated

Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except ratios and per-share amounts. Cash and investments adds short-term and long-term marketable securities to cash. Debt due within a year is the borrowings that are not already in long-term debt. Total debt is those borrowings plus lease liabilities. Net cash is cash and investments minus total debt. Return on equity and return on assets divide the trailing twelve months of net income by the balance on that date. Debt to EBITDA uses the trailing twelve months of EBITDA. More on our methodology.

Company profile

Industry
Services-Computer Integrated Systems Design (SIC 7373)
Listed as
PONY (Nasdaq), PYAIF (OTC)
Fiscal year ends
December 31
Incorporated in
Cayman Islands
Headquarters
Nansha Dist, Guangzhou
SEC filer status
Large accelerated filer
SEC CIK
1969302

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Source: SEC EDGAR filings. This is company-reported data, not investment advice.