Roadzen Inc. Revenue Disclosure
18 Revenue
The following table summarizes revenue by the Company’s service offerings:
| For the year ended | For the year ended | ||||||
| March 31, 2025 | March 31, 2024 | |||||||
| Revenue from services | ||||||||
| Commission and Distribution Income | 23,447,282 | 30,500,019 | ||||||
| Income from Insurance as a Service | 20,848,816 | 16,224,268 | ||||||
| 44,296,098 | 46,724,287 | |||||||
There were three customers that individually represented 14%, 13% and 10% of the Company’s revenue for the period ended March 31, 2025 and one customer that individually represents 23% of the Company’s accounts receivable balance as of March 31, 2025.
There were two customer that individually represented 29% and 21% of the Company’s revenue for the year ended March 31, 2024 and two customers that individually represented 28% and 18% of the Company’s accounts receivable balance as of March 31, 2024.
Contract balances
The following table provides information about receivables and contract liabilities from contracts with customers:
As of March 31, 2025 | As of March 31, 2024 | |||||||
| Contract liabilities | ||||||||
| Deferred revenue | 1,149,019 | 1,384,821 | ||||||
| Total contract liabilities | 1,149,019 | 1,384,821 | ||||||
| Contract assets | ||||||||
| Unbilled revenue | 6,201,942 | 1,821,134 | ||||||
| Total contract assets | 6,201,942 | 1,821,134 | ||||||
The Company records deferred revenues when cash payments are received or due in advance of Company’s performance. Deferred revenues primarily relate to commission and distribution income and insurance as a service. The amount of revenue recognized for the period ended March 31, 2025 that was included in the deferred revenue balance as of March 31, 2024 was $656,968. The amount of revenue recognized in the year ended March 31, 2024 that was included in the deferred revenue balance as of March 31, 2023 was $108,442.
Contract assets represent a conditional right to consideration for satisfied performance obligations that become a receivable when the conditions are satisfied. Contract assets are generated when contractual billing schedules differ from the timing of revenue recognition or cash collection and are included in “prepayments and other current assets” in the consolidated balance sheets which will be billed in the month subsequent to the period in which performance obligations were satisfied.
Roadzen Inc.
Notes to the consolidated financial statements
(in US $, except share count)
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Jun 26, 2025 | Showing above |
| 2024 | Jul 1, 2024 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.