SunCar Technology Group Inc. reported its first quarter 2025 financial results for the period ended March 31, 2025, on May 19, 2025. The company delivered total revenue of $102.6 million, representing a 20% increase compared to $85.6 million in the first quarter of 2024.
Auto e-insurance revenue grew by 37% to $45.9 million, driven by a higher volume of policies sold, while Technology Services revenue rose by 41% to $10.7 million. The company's net loss improved to $3.647 million from $4.987 million in Q1 2024, and adjusted EBITDA improved to negative $1.301 million from negative $3.066 million.
SunCar initiated full-year 2025 revenue guidance of $521 million to $539 million, reflecting a forecasted growth of 18% to 22%. Additionally, the company announced a growing partnership with BYD, providing market-leading insurance solutions to their dealers, further positioning SunCar for sustained growth.
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