SunCar Technology Group's 2025 First Half Data Announced

SunCar Technology Group's Financial Results for the First Half of 2025

SunCar Technology Group Inc. (NASDAQ: SDA), a leader in the digitalization of automotive insurance and services, announced its financial results for the six-month period ending June 2025. Total revenue in the first half of 2025 increased by 9% compared to the same period last year, reaching 222.3 million Dollars.

During the same period, the net loss was reported as 5.5 million Dollars, while this figure was 60.1 million Dollars in the first half of 2024. Adjusted EBITDA was reported at 2.5 million Dollars, down from 6 million Dollars in the same period last year.

Electric vehicle insurance premiums rose to 697.6 million Dollars, marking an increase of 111.3% from 330.2 million Dollars in the same period of 2024. This increase indicates a growing demand for the company's insurance solutions related to electric vehicles.

SunCar has deepened its collaboration with Tesla, introducing a new benefits package that can be purchased through Tesla's official app. Additionally, it has strengthened its partnership with Xiaomi to manage insurance renewals. A system has been developed to optimize user experience for NIO, and a partnership has been formed with Li Auto to develop a self-service insurance application.

Furthermore, the company launched a digital car insurance platform for Leapmotor and established a strategic partnership with Huawei in the HarmonyOS Smart Vehicle Alliance. An innovative automotive services project was initiated with China ZheShang Bank, and after a 10-year partnership with Shanghai Rural Commercial Bank, it was selected as the bank's sole mobility service provider.

Zaichang Ye, the CEO of SunCar Technology Group, expressed satisfaction with the successful developments in the first half of the year. He stated that they are targeting positive net income for the second half of 2025 and plan to scale up. He emphasized that they will continue their growth strategies with innovative approaches and deepening partnerships.