Pony AI (NASDAQ:PONY) jumped 6% on Tuesday after the autonomous driving firm delivered third-quarter revenue that came in well ahead of analyst forecasts.

The company reported $25.4 million in quarterly revenue, topping the consensus estimate of $22.8 million. Gross profit for the period reached $4.67 million, while operating expenses totaled $74.3 million.

“Total revenues rose by 72.0% year-over-year, driven by strong growth from Robotaxi services and Licensing & Applications,” the company said.

The sharp revenue increase reflects the company’s continued expansion across its autonomous driving services and technology licensing operations compared with the same period last year.

Pony AI stock price

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