<p>對機器人出租車開發商 <strong>小馬智行</strong>（PONY -3.80%）的第二季度財報，市場的期待顯然很高，該財報於週二市場開盤前發佈。公司的表現雖然穩健但並不出色，生產更新最終讓一些投資者感到失望。整體來看，他們紛紛拋售該股票，導致該交易時段股價下跌近 4%。</p>
<h2>許可和應用收入大幅提升</h2>
<p>小馬智行以人民幣和美元兩種貨幣報告，顯示其收入同比增長 76%，接近 2150 萬美元。這一增長主要來自許可和應用收入的十倍以上增長。該項收入為 1040 萬美元，而 2024 年同季度略超過 100 萬美元。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjkwMTgvcmVkLXRyYWZmaWMtbGlnaHQuanBnJnc9NzAw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjkwMTgvcmVkLXRyYWZmaWMtbGlnaHQuanBnJnc9NzAw"/></p>
<p>圖片來源：Getty Images。</p>
<p>相反，淨虧損在 GAAP（一般公認會計原則）和非 GAAP（調整後）基礎上均有所擴大。在後者標準下，淨虧損略超過 4600 萬美元（每股 0.13 美元），與去年同期 3000 萬美元的虧損相比，表現不佳。</p>
<p>跟蹤小馬智行的分析師平均預計收入為 1600 萬美元。他們對盈利能力的共識估計並不明顯。</p>
<h2>1000 輛車的目標</h2>
<p>在運營方面，小馬智行表示，自兩個月前機器人出租車開始大規模生產以來，廣州汽車集團和北京汽車工業公司生產了超過 200 輛搭載小馬智行技術的第七代車型。這使得製造商有望在今年年底前達到 1000 輛的目標，儘管未能超出該目標。</p>

小馬智行

<p>Pony AI 的股票在公司公佈第二季度財報後下跌近 4%。儘管該財報顯示收入同比增長 76%，達到 2150 萬美元，但未能滿足投資者的預期。收入的增長主要得益於許可和應用收入的顯著增加。然而，淨虧損擴大至 4600 多萬美元，而去年同期為 3000 萬美元。該公司有望在年底前實現生產 1000 輛機器人出租車的目標，目前已生產超過 200 輛</p>

<p>Expectations were clearly high for robotaxi developer <strong>Pony AI</strong>'s (PONY -3.80%) second-quarter earnings, which were published before market open on Tuesday. The company's solid but not spectacular performance and production update ended up discouraging some investors. Collectively, they traded out of the stock to leave it with a nearly 4% dip in price that trading session.</p>
<div class="lb-trans"><p>對機器人出租車開發商 <strong>小馬智行</strong>（PONY -3.80%）的第二季度財報，市場的期待顯然很高，該財報於週二市場開盤前發佈。公司的表現雖然穩健但並不出色，生產更新最終讓一些投資者感到失望。整體來看，他們紛紛拋售該股票，導致該交易時段股價下跌近 4%。</p>
</div><h2>Big boost in the take for licensing and applications</h2>
<div class="lb-trans"><h2>許可和應用收入大幅提升</h2>
</div><p>Reporting in both Chinese yuan and U.S. dollars, the China-based Pony AI revealed that its revenue leaped 76% year over year to just under $21.5 million. Much of that increase came from a more than tenfold rise in licensing and applications revenue. This came in at $10.4 million against slightly over $1 million in the same quarter of 2024.</p>
<div class="lb-trans"><p>小馬智行以人民幣和美元兩種貨幣報告，顯示其收入同比增長 76%，接近 2150 萬美元。這一增長主要來自許可和應用收入的十倍以上增長。該項收入為 1040 萬美元，而 2024 年同季度略超過 100 萬美元。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjkwMTgvcmVkLXRyYWZmaWMtbGlnaHQuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F829018%2Fred-traffic-light.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>圖片來源：Getty Images。</p>
</div><p>Going in the opposite direction was net loss, which widened on both a GAAP (generally accepted accounting principles) and non-GAAP (adjusted) basis. Under the latter standard, it was slightly over $46 million ($0.13) per share, comparing unfavorably to the year-ago deficit of $30 million.</p>
<div class="lb-trans"><p>相反，淨虧損在 GAAP（一般公認會計原則）和非 GAAP（調整後）基礎上均有所擴大。在後者標準下，淨虧損略超過 4600 萬美元（每股 0.13 美元），與去年同期 3000 萬美元的虧損相比，表現不佳。</p>
</div><p>On average, analysts tracking Pony AI were modeling $16 million for revenue. Their consensus estimate for profitability wasn't immediately apparent.</p>
<div class="lb-trans"><p>跟蹤小馬智行的分析師平均預計收入為 1600 萬美元。他們對盈利能力的共識估計並不明顯。</p>
</div><h2>The 1,000-car goal</h2>
<div class="lb-trans"><h2>1000 輛車的目標</h2>
</div><p>In terms of operations, Pony AI said that since the launch of mass production of robotaxis two months ago, more than 200 of Guangzhou Auto Group's and Beijing Automotive Industry Corporation's Gen-7 models -- packed with Pony AI technology -- have been produced. This puts the manufacturers on track to meet, although not exceed, its target of 1,000 by the end of this year.</p>
<div class="lb-trans"><p>在運營方面，小馬智行表示，自兩個月前機器人出租車開始大規模生產以來，廣州汽車集團和北京汽車工業公司生產了超過 200 輛搭載小馬智行技術的第七代車型。這使得製造商有望在今年年底前達到 1000 輛的目標，儘管未能超出該目標。</p>
</div>

為什麼投資者今天對小馬智行的股票採取了觀望態度