SunCar Technology Group (SDA) H2 2025 earnings summary

Executive summary

• Achieved record annual revenue of $489.3 million for 2025, up 11% year-over-year.

• Returned to profitability in Q3 and Q4 2025, with profits of $1.4 million and $1.7 million, respectively.

• Full-year net loss narrowed significantly to $2.4 million from $64.5 million in 2024, mainly due to lower share-based compensation.

• Signed a strategic AI partnership with ByteDance, enhancing product development and operational efficiency.

• Expanded partnerships with major EV and financial companies, including Tesla, Xiaomi, NIO, Leapmotor, and Agricultural Bank of China.

Financial highlights

• Q4 2025 revenue rose 17% year-over-year to $151.2 million.

• Adjusted EBITDA for 2025 was $11.0 million, up from $9.8 million in 2024.

• Auto insurance revenue increased 25% to $212.6 million; technology services revenue up 19% to $53.6 million.

• Auto services revenue decreased 1% to $223.1 million due to non-renewal of less-profitable contracts.

• Ended 2025 with $46.6 million in cash and short-term investments.

Outlook and guidance

• Maintains 2026 revenue forecast of $600 million.

• Plans further AI-powered service launches and SaaS development.