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Roadzen Inc.
RDZNWCIK 0001868640NasdaqEmerging GrowthInsurance Agents, Brokers & ServiceD8FY ends Mar 31
Period
FY 2025
Revenue
$44.30M
Net Income
$-72.87M
Total Assets
$32.58M
Equity
$-25.07M
Shares Out
79.70M
Op. Cash Flow
$-18.14M
Business
Roadzen Inc. provides AI-powered insurance technology and brokerage services focused on transforming auto insurance across underwriting, claims and road safety. It offers products and services including its Insurance-as-a-Service (IaaS) platform with modules such as Via, xClaim, StrandD, Global Distribution Network, telematics, DrivebuddyAI and MixtapeAI, plus brokerage and roadside assistance solutions. The company operates through technology, brokerage/MGA and telematics/assistance divisions to serve insurers, automotive OEMs, fleets and distribution partners. Roadzen delivers solutions globally across India, the U.K., Europe, the U.S. and other markets via APIs, licensed entities and B2B2C channels.
Summary from filing dated 2025-06-26
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-03-31 | FY 2024 2024-03-31 | FY 2023 2023-03-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Revenue | 44 | 47 | 14 | — | |
| Cost of services | 19 | 18 | 5 | — | |
| Research and development | 4 | 5 | 3 | — | |
| Sales and marketing | 29 | 33 | 11 | — | |
| General and administrative | 52 | 66 | 5 | 2 | |
| Depreciation and amortization | 2 | 2 | 2 | — | |
| Total costs and expenses | 105 | 124 | 25 | — | |
| Loss from operations | −61 | −78 | −12 | — | |
| Interest expense (net) | −3 | −2 | −776,023 | — | |
| Fair value gains/(losses) in financial instruments carried at fair value | −15 | −19 | −1 | — | |
| Gain on deconsolidation of subsidiaries | — | 2 | — | — | |
| Impairment of investment | −1 | −3 | — | — | |
| Other income (net) | 7 | 838,728 | −6,358 | — | |
| Total other income/(expense) | −12 | −22 | −3 | 3 | |
| (Loss)/Income before income tax expense | −73 | −100 | −14 | — | |
| Less: income tax (benefit)/expense | −13,973 | −23,648 | −42,265 | — | |
| Net (loss)/income before non-controlling interest | −73 | −100 | −14 | — | |
| Net loss attributable to non-controlling interest, net of tax | −192,879 | −189,743 | −176,883 | — | |
| Net Loss attributable to Ordinary shareholders | −73 | −100 | −14 | 983,439 | |
| Net loss per share attributable to Ordinary shareholders - Basic | −1.04 | −2.26 | −0.86 | — | |
| Net loss per share attributable to Ordinary shareholders - Diluted | −1.04 | −2.26 | −0.86 | — | |
| Weighted-average number of shares used in computing net loss per share - Basic | 70 | 44 | 17 | — | |
| Weighted-average number of shares used in computing net loss per share - Diluted | 70 | 44 | 17 | — |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-03-31 | FY 2024 2024-03-31 | FY 2023 2023-03-31 | FY 2022 2022-12-31 | FY 2022 2022-03-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 5 | 11 | 589,340 | — | — | |
| Accounts receivable, net | 3 | 4 | 2 | — | — | |
| Inventories | 202,535 | 70,667 | 59,897 | — | — | |
| Prepayments and other current assets | 19 | 34 | 3 | — | — | |
| Investments | 197,805 | 507,094 | — | — | — | |
| Total current assets | 27 | 50 | 5 | 199,498 | — | |
| Restricted cash | 217,064 | 378,993 | 542,490 | — | — | |
| Non marketable securities | 269,470 | 2 | 5 | — | — | |
| Property and equipment, net | 602,923 | 454,589 | 232,493 | — | — | |
| Goodwill | 2 | 2 | 996,441 | — | 2 | |
| Operating lease right-of-use assets | 1 | 822,327 | 545,988 | — | — | |
| Intangible assets, net | 1 | 3 | 2 | — | — | |
| Other long-term assets | 120,972 | 71,913 | 117,484 | — | — | |
| Total Non current assets | 6 | 8 | — | — | — | |
| Total assets | 33 | 58 | 15 | 207 | — | |
| Current portion of long-term borrowings | 3 | 2 | 3 | — | — | |
| Short-term borrowings | 20 | 16 | 5 | — | — | |
| Accounts payable and accrued expenses | 30 | 38 | 6 | — | — | |
| Derivative warrant liabilities | 1 | 6 | — | — | — | |
| Short-term operating lease liabilities | 318,921 | 358,802 | 208,697 | — | — | |
| Other current liabilities | 2 | 3 | 3 | — | — | |
| Total current liabilities | 57 | 66 | 17 | 1 | — | |
| Long-term borrowings | 139,775 | 1 | 653,269 | — | — | |
| Long-term operating lease liabilities | 628,400 | 268,856 | 360,306 | — | — | |
| Other long-term liabilities | 566,651 | 1 | 294,301 | — | — | |
| Total Non current liabilities | 1 | 3 | — | — | — | |
| Total liabilities | 58 | 69 | 18 | 8 | — | |
| Commitments and contingencies (refer note 22) | — | — | — | — | — | |
| Ordinary Shares and additional paid in capital, $0.0001 par value per share, 220,000,000 shares authorized as of March 31, 2025 and March 31, 2024; 74,290,986 and 68,440,829 shares outstanding as of March 31, 2025 and March 31, 2024 respectively | 96 | 85 | 303,213 | — | — | |
| Accumulated deficit | −224 | −151 | −51 | −8 | — | |
| Accumulated other comprehensive income/(loss) | −468,859 | −600,501 | −66,903 | — | — | |
| Other components of equity | 104 | 57 | 366,786 | — | — | |
| Total shareholders deficit | −25 | −10 | −51 | −8 | −37 | |
| Non-controlling interest | −616,883 | −426,030 | −237,695 | — | — | |
| Total deficit | −26 | −10 | −51 | — | — | |
| Total liabilities and Total Deficit | 33 | 58 | 15 | 207 | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-03-31 | FY 2024 2024-03-31 | FY 2023 2023-03-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Net loss including non controlling interest | −73 | −100 | — | — | |
| Stock based compensation | 47 | 56 | — | — | |
| Deferred income taxes | −193,261 | −86,020 | −131,378 | — | |
| Unrealised foreign exchange loss/(profit) | 132,121 | −459,190 | 9,184 | — | |
| Fair value losses in financial instruments carried at fair value | 15 | 19 | 1 | — | |
| Gain on fair valuation of investments | — | −1,812 | — | — | |
| Expected credit loss (net of reversal) | 246,115 | 293,853 | — | — | |
| Provision on doubtful advances and receivables, | — | 5 | — | — | |
| Balances written off/(back) | −8 | −51,513 | 7,164 | — | |
| Adjustments, noncash items, to reconcile net income (loss) to cash provided by (used in) operating activities | −16 | −16 | — | — | |
| Inventories | −131,868 | −11,688 | −9,352 | — | |
| Income taxes, net | — | −64,243 | −55,766 | — | |
| Accounts receivables, net | 780,880 | 6 | −943,470 | — | |
| Prepayments and other assets | −5 | −28 | −529,692 | — | |
| Accounts payable and accrued expenses | 3 | 19 | 4 | — | |
| Other liabilities | −1 | −674,090 | 571,519 | — | |
| Net cash used in operating activities | −18 | −19 | −8 | −1 | |
| Purchase of property and equipment, intangible assets and goodwill | −424,910 | −455,924 | −842,045 | — | |
| Acquisition of businesses | — | −6 | — | — | |
| Proceeds from sale of mutual fund | 309,289 | — | — | — | |
| Investment in mutual funds | — | −500,000 | — | — | |
| Net cash used in investing activities | −115,621 | −7 | −841,359 | — | |
| Proceeds from business combination | — | 26,824 | — | — | |
| Proceeds from issue of preferred stock | — | 6 | 458,000 | — | |
| Proceeds from issue of ordinary stock | 7 | — | — | — | |
| Net proceeds/(payments) from borrowings | 4 | 15 | 4 | — | |
| Proceeds from forward purchase agreement | 1 | 4 | — | — | |
| Net cash generated from financing activities | 12 | 25 | 8 | 304,734 | |
| Effect of exchange rate changes on cash and cash equivalents | 3,168 | −244,444 | 72,752 | — | |
| Net (decrease)/increase in cash and cash equivalents (including restricted cash) | −7 | −805,351 | 45,412 | −884,839 | |
| Cash paid for interest, net of amounts capitalized | 1 | 623,525 | 457,177 | — | |
| Consideration payable in connection with acquisitions | 8 | 488,000 | — | — | |
| Interest accrued on borrowings | 2 | 451,323 | 257,188 | — |
Filings
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