Roadzen Inc. RDZN
is a leading Insurtech company on a mission to transform global auto insurance powered by advanced artificial intelligence ("AI").
At the heart of our mission is our commitment to create transparency, efficiency, and a seamless experience for the millions of end customers
who use our products through our insurer, original equipment manufacturer ("OEM"), and fleet (such as trucking, delivery,
and commercial fleets) partners. We seek to accomplish this by combining computer vision, telematics and AI with continually updated
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | $55.0M | $44.3M | $46.7M | $13.6M | — | — |
| Cost of revenue | $21.3M | $18.8M | $18.1M | $5.4M | — | — |
| Gross profit | $33.7M | $25.5M | $28.6M | $8.1M | — | — |
| R&D | $408.4K | $3.8M | $5.0M | $2.7M | — | — |
| SG&A | $16.0M | $51.6M | $65.9M | $4.6M | — | — |
| Total operating expenses | — | $7.1M | $3.5M | $2.0M | — | — |
| Operating income | -$14.0M | -$60.8M | -$77.7M | -$11.5M | — | — |
| Interest expense | $7.2M | $3.2M | $2.3M | $776.0K | — | — |
| Pre-tax income | -$23.0M | -$73.1M | -$99.9M | -$14.2M | — | — |
| Income tax | $20.2K | $14.0K | $23.6K | $42.3K | — | — |
| Net income | -$22.5M | -$72.9M | -$99.7M | -$14.0M | — | — |
| EPS, basic | -0.29 | -1.04 | -2.26 | -0.86 | — | — |
| EPS, diluted | -0.29 | -1.04 | -2.26 | -0.86 | — | — |
| Shares, diluted (wtd. avg.) | $77.5M | $69.9M | $44.0M | $16.5M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $6.6M | $4.8M | $11.6M | $1.1M | $1.1M | $0 |
| Receivables | $7.5M | $2.6M | $3.7M | $1.5M | — | — |
| Inventory | $116.6K | $202.5K | $70.7K | $59.9K | — | — |
| Total current assets | $32.3M | $27.0M | $49.8M | $5.4M | $1.2M | — |
| Property, plant and equipment | $537.0K | $602.9K | $454.6K | $232.5K | — | — |
| Goodwill | $7.6M | $2.1M | $2.1M | $996.4K | $1.7M | — |
| Other intangibles | $9.7M | $1.2M | $3.0M | $2.5M | — | — |
| Total assets | $52.7M | $32.6M | $58.1M | $15.2M | $205.4M | — |
| Accounts payable | $14.8M | $17.5M | $22.8M | $2.0M | — | — |
| Short-term debt | $9.8M | $2.9M | $2.2M | $2.9M | — | — |
| Total current liabilities | $58.3M | $56.9M | $65.7M | $16.7M | $508.0K | — |
| Long-term debt | $15.6M | $139.8K | $1.5M | $653.3K | — | — |
| Total liabilities | $79.2M | $58.3M | $68.6M | $18.0M | $7.0M | — |
| Retained earnings | -$246.2M | -$223.8M | -$151.0M | -$51.4M | -$5.8M | — |
| Total equity | -$29.6M | -$25.1M | -$10.1M | -$50.8M | -$36.9M | $0 |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$20.3M | -$18.1M | -$19.2M | -$7.5M | — | — |
| Stock-based compensation | $497.8K | $47.2M | $56.3M | — | — | — |
| Capital expenditure | $1.0M | $424.9K | $455.9K | $842.0K | — | — |
| Investing cash flow | -$896.8K | -$115.6K | -$6.7M | -$841.4K | — | — |
| Financing cash flow | $21.4M | $11.7M | $25.4M | $8.4M | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001493152-26-031069.
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