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SDA

SunCar Technology Group Inc.

SDA

SunCar Technology Group Inc. • NASDAQ
$2.10 ▲ 0.00% (+0.00)
Market Cap $214.22 M
52w High $10.61
52w Low $1.54
Dividend Yield 0%
P/E -17.5
Volume 20.25K
Outstanding Shares 102.01M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $119.714M ▲ $15.56M ▼ $-7.149M ▼ -5.972% ▼ $-0.07 ▼ $3.024M ▲
Q1-2025 $102.595M ▼ $57.131M ▼ $-3.402M ▲ -3.316% ▼ $-0.033 ▲ $-1.199M ▼
Q4-2024 $129.188M ▲ $61.856M ▲ $-3.916M ▼ -3.031% ▼ $-0.04 ▼ $1.489M ▼
Q3-2024 $109.623M ▲ $58.156M ▼ $-2.164M ▲ -1.974% ▲ $-0.022 ▲ $2.084M ▲
Q2-2024 $101.543M $108.432M $-31.291M -30.816% $-0.33 $-52.648M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $45.701M ▼ $277.529M ▲ $191.383M ▲ $29.351M ▼
Q1-2025 $60.453M ▲ $276.681M ▲ $187.067M ▲ $34.816M ▲
Q4-2024 $47.85M ▲ $246.728M ▼ $180.494M ▲ $11.892M ▼
Q3-2024 $42.017M ▲ $252.055M ▲ $176.85M ▲ $17.725M ▲
Q2-2024 $41.799M $243.936M $174.496M $15.619M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-7.149M ▼ $9K ▲ $-7.473M ▼ $-9.16M ▼ $-14.817M ▼ $2.999K ▲
Q1-2025 $-3.647M ▼ $-9.265M ▼ $-138K ▲ $23.137M ▲ $12.307M ▲ $-9.282M ▼
Q4-2024 $-2.88M ▼ $10.659M ▲ $-2.355M ▲ $-626K ▲ $6.523M ▲ $10.635M ▲
Q3-2024 $-1.433M ▲ $3.807M ▲ $-2.502M ▲ $-2.533M ▼ $-740K ▲ $3.488M ▲
Q2-2024 $-31.291M $-1.313M $-3.645M $104K $-4.933M $-1.435M

Five-Year Company Overview

Income Statement

Income Statement Revenue has been growing steadily over the past few years, which shows the business model is gaining traction. However, profits have gone the opposite way: margins are thin, operating results have slipped from roughly break-even into noticeable losses, and bottom‑line losses have deepened more recently. This suggests that growth is still being bought with high operating costs, and the company has not yet shown it can turn scale into consistent profitability.

Balance Sheet

Balance Sheet The asset base has expanded meaningfully since listing, which fits a young, scaling platform business. Cash levels remain modest, so the buffer against shocks is not large. Debt has become a meaningful part of the capital structure, while shareholder equity is quite thin and was negative not long ago. Overall, the balance sheet looks stretched and leaves limited room for prolonged missteps or sustained losses without additional capital or restructuring.

Cash Flow

Cash Flow Cash generation has been weak but is moving in a better direction. Operating cash flow was negative for several years and only recently turned slightly positive, which is an encouraging but still fragile sign. Free cash flow mirrors operating cash flow because capital spending is very light, indicating the model is more about software, people, and partners than heavy assets. The company is not yet clearly self‑funding and remains sensitive to any setback in working capital or growth assumptions.

Competitive Edge

Competitive Edge SunCar is carving out a niche at the intersection of auto insurance, after‑sales services, and digital platforms in China. Its strengths are a proprietary cloud platform, deep integration with major EV brands, relationships with large banks and insurers, and a very broad service outlet network nationwide. These create switching costs and some barriers to entry. At the same time, it operates in a highly competitive and regulated market, depends heavily on key partners, and is still relatively small and unprofitable, which could limit pricing power and resilience if competition or regulation tightens.

Innovation and R&D

Innovation and R&D The company positions itself as a technology and data player rather than a traditional auto dealer. It is leaning heavily on artificial intelligence, big data, and a SaaS-style cloud platform to power underwriting, claims, pricing, and customer service. Partnerships with major tech providers, EV makers, and financial institutions help it co‑develop customized insurance and service products and embed them directly into vehicle and banking apps. Plans to automate a large share of operations and to expand into areas like smart claims and mobility services point to an innovation‑driven strategy. The move into real‑world asset cryptocurrencies is more experimental and adds both potential upside and additional risk, given its early‑stage and volatile nature.

Summary

SunCar is a small but fast‑growing digital platform business in China’s auto ecosystem, with a clear focus on AI‑enabled insurance and after‑sales services, especially for EV makers. Strategically, it has attractive ingredients: a differentiated technology platform, strong partner network, and a roadmap that targets higher‑margin, data‑driven services. Financially, however, it is still in the investment phase: revenue is rising but losses persist, the balance sheet is thin and levered, and cash flow only recently turned marginally positive. The core question going forward is execution: whether SunCar can convert its partnerships and technology edge into durable profitability and stronger cash generation before its financial flexibility becomes a constraint.

NEWS

October 27, 2025 · 4:05 PM UTC

SunCar Announces First Half 2025 Financial Results

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October 20, 2025 · 8:00 AM UTC

SunCar's Collaboration with TikTok parent, ByteDance, Brings Powerful AI Technology to China's Auto Insurance and Auto Services Markets

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September 18, 2025 · 8:30 AM UTC

SunCar Announces Its Plans to Invest up to $10 Million in Several Leading Real-World Asset (“RWA”) Cryptocurrencies

Read more