NEW YORK, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) ("Roadzen" or the "Company"), a global leader in AI at the intersection of insurance and mobility, today announced that it has reached an agreement in principle with Mizuho Securities USA LLC, a leading global investment bank and securities firm, to extend the maturity date of its $11.5 million 15% senior secured notes by one year, to December 31, 2025, providing additional financial flexibility for the Company. The completion of the ex ...

NEW YORK, Dec. 11, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) (“Roadzen” or the “Company”), a global leader in AI at the convergence of insurance and mobility, today announced that it has executed a Memorandum of Understanding (MOU) for a partnership with Cimarron Underwriters, LLC (“Cimarron”). Through this proposed partnership, Roadzen will leverage Cimarron’s nationwide Managing General Agent (MGA) licenses and infrastructure to expand the distribution of its insurance offerings across all 50 U ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Ordinary Shares, par value $0.0001 per share RDZN The Nasdaq Stock Market LLC Warrants, each warrant exercisable for one Ordinary Share, each at an exercise price of $11.50 per share RDZNW The Nasdaq Stock Market LLC Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☒ Smaller reporting company ☒ Emerging growth company ☒ FORM 10-Q (Mark One ...

NEW YORK, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) ("Roadzen" or the "Company”), a pioneer in AI-driven insurance technology, has launched MixtapeAI, a platform designed to power AI agents and transform customer interactions in the insurance and mobility sectors. With MixtapeAI, insurers, brokers, agents, carmakers, and fleets can deliver intelligent, personalized, and secure customer experiences while automating complex workflows across multiple touchpoints. MixtapeAI: Driving Efficien ...

Roadzen to Present at the ThinkEquity Investor Conference October 30, 2024 NEW YORK, October 18, 2024 – PRISM MediaWire – Roadzen Inc. (Nasdaq: RDZN) ("Roadzen" or the "Company"), a global leader in AI at the convergence of insurance and mobility, today announced that it will be participating in The ThinkEquity Conference on October 30, 2024, at the Mandarin Oriental Hotel in New York. The ThinkEquity Conference gathers institutional investors, corporate clients, and other industry professionals to highligh ...

First quarter 2025 revenue increased 59% year-over-year to $8.9 million from $5.6 million in the corresponding quarter last year. Net loss of $48.4 million is impacted by non-cash, non-recurring and extraordinary items, resulting in an Adjusted EBITDA1 loss of $2.9 million. Strong customer wins with leading global insurers, carmakers and fleets choosing Roadzen's risk solutions and AI products over the past quarter. NEW YORK, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) ("Roadzen" or the "C ...

NEW YORK, July 18, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) ("Roadzen" or the "Company"), a global leader in AI at the convergence of insurance and mobility, today announced that the Company's Special Committee of Independent Directors has unanimously approved a plan for certain related parties to release $3.5 million of short-term debt in exchange for ordinary shares of RDZN. The related parties that have executed binding term sheets and agreed to the exchange include Roadzen's CEO, Rohan Malho ...

For investors, RDZN stock could be a tempting way to play the fast-growing AI trend. Specifically, Roadzen works with automakers, dealerships, and insurance companies via its platform. This platform uses AI to create new auto insurance products as well as sell insurance and process claims. This tie in, as well as its financial performance, could establish Roadzen as an AI stock that investors should be watching. Roadzen is one of the market's top movers today. After reporting results for the 12-month period ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-41094 ROADZEN INC. (Exact name of Registrant as specified in its Charter) British Virgin Islands 98-1600102 (State or other jurisdiction ...

[Executive Summary & Fiscal Year Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Fiscal%20Year%20Highlights) Roadzen Inc. achieved record revenue growth in its first public fiscal year, managing a net loss from non-cash items through strategic expansion. [Overall Performance](index=1&type=section&id=Overall%20Performance) Roadzen Inc. achieved record revenue growth in its first public fiscal year, navigating a net loss from non-cash items. - Roadzen Inc. reported **record revenue growth** in its first fiscal year as a public company, ending March 31, 2024[2](index=2&type=chunk)[3](index=3&type=chunk) - Net loss of **$99.7 million** was primarily impacted by non-cash, non-recurring, and extraordinary items[2](index=2&type=chunk) - Adjusted EBITDA loss was **$10.4 million**, a **5.1% increase** over the prior year[2](index=2&type=chunk) - CFO noted focus on simplifying organizational structure, streamlining operations, and eliminating redundancies, leading to a **7% headcount reduction** and closure of under-performing assets[4](index=4&type=chunk) - CEO highlighted substantial revenue growth, trajectory towards profitability, and significant expansion in U.S. and U.K. markets, alongside strong growth in India[23](index=23&type=chunk) [Revenue and Key Performance Indicators](index=1&type=section&id=Revenue%20and%20Key%20Performance%20Indicators) Full-year revenue surged to **$46.7 million**, a **245% increase**, driven by acquisitions and strong segment growth. | Metric | FY2024 | FY2023 | Change (%) | | :----- | :----- | :----- | :--------- | | Total Revenue | $46.7 million | $13.5 million | 245% | | Brokerage Revenue Share | 65% | N/A | N/A | | Brokerage Revenue Growth | 232% | N/A | N/A | | IaaS Revenue Share | 35% | N/A | N/A | | IaaS Revenue Growth | 270% | N/A | N/A | | Gross Margin | 61.2% | 60.1% | +1.1 pp | | Customer Segment | FY2024 | FY2023 | Change (%) | | :--------------- | :----- | :----- | :--------- | | Insurance Customer Agreements | 33 | 26 | 26.9% | | Automotive Customer Agreements | 68 | 23 | 195.7% | | Agents & Fleet Customer Agreements | ~3,200 | ~2,000 | 60% | | Brokerage Segment Performance | FY2024 | FY2023 | Change (%) | | :-------------------------- | :----- | :----- | :--------- | | Policies Sold | 324,293 | 258,546 | 25.4% | | Gross Written Premium (GWP) | $61.8 million | $38.0 million | 62.6% | | IaaS Segment Performance | FY2024 | FY2023 | Change (%) | | :--------------------- | :----- | :----- | :--------- | | Claims & Vehicle Inspections | 301,120 | 220,781 | 36.4% | [Expenses and Net Results](index=2&type=section&id=Expenses%20and%20Net%20Results) Operating expenses significantly increased to **$104.1 million**, largely due to non-cash items, resulting in a **$99.7 million** net loss. | Metric | FY2024 | FY2023 | Change | | :----- | :----- | :----- | :----- | | Operating Expenses (excl. D&A) | $104.1 million | $18.1 million | +$86.0 million | | Non-cash Expenses (within OpEx) | $61.2 million | N/A | N/A | | Equity Compensation Expense | $56.3 million | N/A | N/A | | Provisions for Doubtful Accounts | $4.9 million | N/A | N/A | | Other Expenses | $22.2 million | $2.7 million | +$19.5 million | | Net Loss Attributable to Roadzen Inc. | $(99,669,335) | $(14,024,268) | $(85,645,067) | | Adjusted EBITDA Loss | $(10.4) million | $(9.9) million | +$0.5 million | | Adjusted EBITDA Margin | -22.3% | -73.1% | +50.8 pp | - The increase in other expenses was driven by **$19.5 million** of non-cash expense related to fair market valuation adjustments of financial instruments[9](index=9&type=chunk) [Balance Sheet Highlights](index=3&type=section&id=Balance%20Sheet%20Highlights) Current assets reached **$49.8 million**, driven by prepayments and cash, while current liabilities totaled **$65.7 million**. | Metric | March 31, 2024 | March 31, 2023 | Change | | :----- | :------------- | :------------- | :----- | | Current Assets | $49.8 million | $5.4 million | +$44.4 million | | FPA Prepayment Balance (within Current Assets) | $28.8 million | N/A | N/A | | Cash on Hand | $11.2 million | $0.6 million | +$10.6 million | | Current Liabilities | $65.7 million | $16.7 million | +$49.0 million | | Long-Term Liabilities | $3.0 million | $1.3 million | +$1.7 million | - Current liabilities included **$17.4 million** in Accounts Payable assumed by Roadzen in connection with the Business Combination, and **$13.1 million** for Mizuho Securities USA LLC, comprising **$7.5 million** in short-term borrowings and a **$5.6 million** fair valuation of warrants[30](index=30&type=chunk) [About Roadzen Inc.](index=4&type=section&id=About%20Roadzen%20Inc.) Roadzen Inc. is a global AI technology company transforming auto insurance, headquartered in California. [Company Overview](index=4&type=section&id=Company%20Overview) Roadzen Inc. is a global AI technology company based in California, transforming auto insurance with advanced AI. - Roadzen Inc. is a global technology company transforming auto insurance using advanced artificial intelligence (AI)[13](index=13&type=chunk) - The company's technology is used by thousands of clients, including leading insurers, carmakers, fleets, dealerships, and auto insurance agents, for product development, sales, claims processing, and road safety[13](index=13&type=chunk) - Roadzen's mission is to advance AI research at the intersection of mobility and insurance to prevent accidents, ensure fair premiums, and process claims rapidly[13](index=13&type=chunk) - Headquartered in Burlingame, California, Roadzen has over **380 employees** globally across the U.S., India, U.K., and France[13](index=13&type=chunk) [Financial Statements](index=5&type=section&id=Financial%20Statements) Financial statements detail Roadzen's balance sheet, operations, and cash flows, reflecting revenue growth, increased expenses, and a net loss. [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) Total assets grew to **$58.1 million**, driven by current assets including cash and prepayments, while total liabilities increased to **$68.6 million**. | Metric | March 31, 2024 | March 31, 2023 | Change | | :----- | :------------- | :------------- | :----- | | Total Assets | $58,136,346 | $15,181,242 | +$42,955,104 | | Current Assets | $49,842,571 | $5,367,158 | +$44,475,413 | | Cash and Cash Equivalents | $11,186,095 | $589,340 | +$10,596,755 | | Prepayments and Other Current Assets | $34,426,335 | $3,181,936 | +$31,244,399 | | Total Liabilities | $68,636,212 | $17,989,861 | +$50,646,351 | | Total Current Liabilities | $65,652,506 | $16,681,985 | +$48,970,521 | | Total Shareholders' Deficit | $(10,499,866) | $(51,082,898) | +$40,583,032 | - Significant increases in current assets and liabilities reflect business expansion and financial instrument adjustments[10](index=10&type=chunk)[15](index=15&type=chunk)[30](index=30&type=chunk)[34](index=34&type=chunk) [Consolidated Statements of Operations](index=7&type=section&id=Consolidated%20Statements%20of%20Operations) Revenue significantly increased to **$46.7 million**, but a surge in total costs and expenses to **$124.4 million** led to a net loss of **$(99.7) million**. | Metric | FY2024 | FY2023 | Change | | :----- | :----- | :----- | :----- | | Revenue | $46,724,287 | $13,560,498 | +$33,163,789 | | Cost of Services | $18,132,757 | $5,413,686 | +$12,719,071 | | Research and Development | $4,973,816 | $2,670,333 | +$2,303,483 | | Sales and Marketing | $33,195,608 | $10,736,173 | +$22,459,435