Nov. 13 at 10:26 AM
$PONY Earnings Nov 25th.
What to expect?
Robotaxi revenue will 2x. My guesstimate is
$2.8-3.2m. While production ramp of Gen7 was initiated mid June, it won’t immediately materialise. Testing and ramp up take time. While ~200 vehicles were produced (Aug), likely few will contribute revenue to Q3.
I’m interested to see how the remaining 93% of the business performs, as that will have some impact:
The Applications & Licensing segment experienced strong growth, yet was driven by a sharp decline in average sales price (-29%). Given how lumpy this business can be, that creates notable risk heading into earnings, (it’s 49% of total revenue).
Robotruck revenue is heavily reliant on 1 customer: Sinotrans (it accounts for ~90%). It’s also their JV partner in Robotruck, which is 44% of their business.
Sinotrans’s results offer a good preview of what to expect from Pony’s Robotruck division. Its latest earnings (as of Sept 30) showed a 13% YoY revenue decline, along with weaker core sales
