Dec. 3 at 10:51 AM
$WRD
$PONY announced a surge in Robotaxi revenue in Q3. Revenues in this category matter, as this is where Pony’s high multiples is entirely based on.
Robotaxi Service Revenue
(A) fare charging Robotaxi rides
(B) project-based service
(C) technology licensing and vehicle sales
Robotaxi Services Revenue category has both operational revenues and one-offs. It’s a blended figure that make measuring performance in this category tricky. Operational growth numbers obviously hold more weight than one-off sales. So, how are we able to measure progress made?
According to Pony management:
“robotaxi services revenue reached
$6.7 million, representing a remarkable growth of 89.5% year-over-year and 338.7% quarter-over-quarter. Specifically, fare charging revenue continued to deliver a triple-digit growth, surging 233.3%. This was achieved even before the commercial rollout of our Gen7 Robotaxi.”
Now let’s do the math, where we drill down the numbers based on their legacy fleet.
