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what it is
Roadzen sells insurance software and also helps sell auto insurance, mainly to insurers, carmakers, and fleets.
how it gets paid
Last year Roadzen made $44M in revenue.
why growth slowed
Revenue fell 5.2% last year. $39 million matters because it is almost 89% of the prior full-year $44 million revenue base.
what just happened
Revenue hit $39M, up 171% vs. prior year, while EPS came in at -$0.20.
At a glance
C+ balance sheet — struggling to keep the lights on
-$1.04 fy2024 eps est
$44M fy2024 rev est
n/a operating margin
1.2 beta
xvary composite: 29/100 — weak
What they do
Roadzen sells insurance software and also helps sell auto insurance, mainly to insurers, carmakers, and fleets.
Roadzen's edge is convenience. It sells IaaS (Insurance as a Service → outsourced insurance software stack → your customer can get coverage inside the app or dealership instead of through paperwork). With 294 employees serving insurers, carmakers, and fleet operators, the pitch is simple: if your workflow already runs through Roadzen, ripping it out is a headache.
How they make money
$44M
annual revenue · revenue declined -5.2% last year
total revenue
$44M
5.2%
The products that matter
claims processing and risk assessment software
AI insurance platform
$50.3M trailing revenue
This is the core business. It produced $50.3M in trailing revenue while running at a -30.6% net margin. In human-speak: the product is real, but the economics are still arguing with the pitch deck.
core business
vehicle repair network platform
VehicleCare
$277M announced valuation
Roadzen attached a $277M valuation to this January 2026 transaction target. That is almost three times Roadzen's own ~$93M market cap. This is not a bolt-on. It is the whole next chapter, if it closes and integrates cleanly.
major bet
Key numbers
-137.3%
operating margin
Operating margin → profit after running the business → so what: Roadzen burned more than $1.37 for every $1 of sales in fiscal 2024.
$44M
annual revenue
Revenue → money customers paid → so what: this is still a very small company trying to support public-company costs on a tiny base.
$1M
long-term debt
Long-term debt → borrowed money due later → so what: leverage is not the main problem when debt is just 1% of capital.
$93M
market cap
Market cap → what the stock market says the whole company is worth → so what: one bad quarter can move the story fast.
Financial health
C+
strength
- balance sheet grade C+ — weak — may struggle to fund operations
- risk rank 5 — safer than 5% of stocks
- price stability 5 / 100
- long-term debt $1M (1% of capital)
C+ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for RDZN right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Revenue hit $39M, up 171% vs. prior year, while EPS came in at -$0.20.
The revenue number was huge versus last year, but the business is still unprofitable. The cleaner trend is quarterly EPS improving from -$0.71 to -$0.32 to -$0.04 to $0.03 across fiscal 2025.
$11M
revenue
$0.20
eps
+171%
vs. last year revenue growth
the number that mattered
$39 million matters because it is almost 89% of the prior full-year $44 million revenue base, which tells you acquisitions and mix changes are reshaping the company fast.
source: company earnings report, 2026
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What could go wrong
The core risk is simple and specific: Roadzen is still a very small business losing money while trying to digest a very large strategic move. With $50.3M in trailing revenue, a -30.6% net margin, a C+ balance sheet, and a stock price inside a $1–$3 annual range, you do not get much room for operational slippage.
med
losses stay deeper than growth
A -30.6% net margin means Roadzen still loses about $0.31 for every $1 of revenue. If revenue grows but margins barely move, the stock keeps looking optically cheap for the right reason.
The so-what for you: even a decent top-line story can fail to translate into equity value if the income statement does not improve with it.
med
small scale makes every quarter loud
Fiscal Q1 2026 revenue was $10.9M. That was up 22% from a year ago, but the base is still tiny. At this size, one missed customer, one delayed contract, or one messy quarter shows up immediately.
If growth drops back below the current run rate, investors do not have a diversified revenue base to hide behind. The stock usually reacts first and asks questions second.
med
VehicleCare is bigger than a normal integration risk
The announced $277M VehicleCare valuation is almost three times Roadzen's own ~$93M market cap. That contrast is the whole point of the deal. It is also the reason execution risk stops being theoretical.
If the transaction adds complexity faster than revenue or margin improvement, shareholders are left with a harder story to underwrite and more reasons for the market to stay skeptical.
med
thin trading support magnifies every headline
Price stability sits at 5 / 100, the beta is 1.2, and institutional ownership data is sparse. In plain English: there may not be a large, patient shareholder base here to absorb bad news calmly.
You can be early and still be very wrong on timing. In a thinly sponsored small cap, sentiment and liquidity can overwhelm fundamentals for long stretches.
All four risks come back to the same math: $50.3M of trailing revenue and a -30.6% net margin do not provide much financial slack. Until scale and margins improve together, this stays a prove-it story.
source: institutional data · regulatory filings · risk analysis
Pay attention to
earnings
June 25 earnings call
This is the next proof point. If quarterly revenue stays around or above the current $10.9M level, the growth case stays alive. If it slips, the "too small to matter yet" problem gets louder.
growth
whether the 22% revenue jump repeats
One quarter can be noise. Two or three turns into a pattern. For RDZN, you should care less about the headline growth rate than whether the revenue base keeps stepping up from here.
deal risk
VehicleCare close and early integration signals
A $277M strategic move by a ~$93M company deserves more than a press-release skim. Watch whether management starts showing what the deal changes in revenue quality, operating complexity, and credibility.
profitability
net margin moving off -30.6%
Here is the number that matters. If losses stay around this level, the valuation discount is not a market mistake. If losses narrow while revenue holds up, the stock gets a stronger argument.
Analyst rankings
coverage
thin
Published analyst ranking data is limited for RDZN. In human-speak, Wall Street is not doing much of the work for you here.
what that means
bring your own judgment
Sparse coverage means fewer price targets, fewer consensus anchors, and less outside pressure on management. That does not make the stock wrong. It makes your own underwriting more important.
source: institutional data
Institutional activity
institutional ownership data for RDZN is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$2
current price
n/a
target midpoint · n/a from current
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