Pony AI, Inc. (NASDAQ: PONY)

This investigation is for anyone who acquired securities in Pony AI, Inc. (NASDAQ: PONY) prior to March 25, 2025.

The Law Offices of Howard G. Smith believes that the Company and certain of its executives violated federal law. Specifically, the Law Offices of Howard G. Smith believes that the Company misled investors regarding its financial condition. More specifically, the Law Offices of Howard G. Smith believes that the Company misled investors by telling investors that the Company had adequate financial controls, but then by overstating revenue.

On March 25, 2025, before market hours, Pony AI announced its financial results for its fourth quarter and full year 2024, revealing revenue of “$35.5. million in the fourth quarter of 2024, representing a decrease of 29.8% from US$50.6 million in the fourth quarter of 2023.” The Company stated the decrease was “mainly influenced by the timing of project-based revenue recognition.” The Company further revealed robotaxi services were down to “$2.6 million in the fourth quarter of 2024, representing a decrease of 61.9% from US$6.7 million in the fourth quarter of 2023.”  The Company explained that decrease was “mainly driven by reduced service fees from providing autonomous vehicle engineering solutions based on our collaboration projects’ progression schedule.”  On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Pony AI, Inc. (NASDAQ: PONY) prior to March 25, 2025 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.