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Sep 30, 2024
Roadzen Q2 2025 Earnings Report
Reported a 33% increase in revenue compared to the previous quarter and improved Adjusted EBITDA loss by 25% sequentially.
Key Takeaways
Roadzen reported a 33% increase in revenue compared to the previous quarter. The company's net loss was $21.8 million, primarily impacted by non-cash, non-recurring, and extraordinary items. Adjusted EBITDA loss improved by 25% sequentially, driven by the adoption of AI in reducing operating costs.
Achieved second-quarter FY25 revenue of $11.9 million, a 33% increase from the first quarter's revenue of $8.9 million.
Reported a net loss of $21.8 million, with an Adjusted EBITDA loss of $2.1 million, an improvement from the previous quarter's Adjusted EBITDA loss of $2.8 million.
Added 5 new enterprise clients and over 150 agents and fleets, expanding services to 108 enterprise clients and 3,550 agents and fleet customers globally.
Continued balance sheet reduction, negotiating a $3.6 million decrease in accounts payable related to the public listing.
Roadzen
Roadzen
Forward Guidance
Roadzen expects revenue momentum to continue in the second half of FY25 as the company aims to resume U.K. sales and pursue growth in the U.S. and India.
Positive Outlook
- Resuming U.K. sales in the fourth quarter of this fiscal year.
- Pursuing growth in the U.S. and India.
- Leveraging MixtapeAI to drive internal improvements and reduce operating costs.
- Continuing to optimize operations for additional benefits in the second half of the year.
- Shareholders have shown immense confidence in Roadzen's vision.
Challenges Ahead
- Temporary countrywide suspension of GAP insurance sales by the U.K. Financial Conduct Authority impacted revenue.
- Operating expenses increased due to non-cash equity compensation expense.
- Reduction in cash and cash equivalents compared to the previous quarter.
- Decrease in total assets due to reduction in cash and prepayment balance.
- Company reported a net loss for the quarter.