Waymo's new autonomous vehicle, called the Ojai, drives in Venice Beach on Wednesday, May 27, 2026.

Allen J. Schaben | Los Angeles Times | Getty Images

Waymo is dominant in the U.S. and expanding overseas, but it remains immaterial in terms of revenue to parent Alphabet , which is pouring cash into its growth.

In Alphabet's third-quarter earnings report on Wednesday, the company said its Other Bets segment, which includes Waymo, generated $372 million in revenue, up 8% from a year earlier, and accounting for just 0.3% of total sales.

That revenue comes at a steep price. Operating loss in the Other Bets segment widened to $2.05 billion during the quarter from $1.43 billion a year ago. The unit also houses drug design research business Isomorphic, which is using Google's Gemini 4 Argon AI models.

CEO Sundar Pichai touted Waymo's expansion toward the end of his introductory remarks on the earnings call. The company has a commanding lead in the U.S.…