SUNCAR TECHNOLOGY GROUP INC. (NASDAQ: SDA), a leading company in China's auto insurance digitalization sector, released preliminary unaudited data for its 2025 performance on March 6. The company expects full-year revenue to reach $498 million, representing a 13% year-over-year increase compared to 2024. Notably, the company achieved profitability in the second half of 2025. Looking ahead to 2026, the company forecasts full-year revenue to reach $600 million, which would be an approximate 20% growth over the projected 2025 revenue.
The performance growth demonstrated a significant quarter-by-quarter acceleration. In the first three quarters of 2025, SUNCAR TECHNOLOGY generated revenue of $338 million, an 8% increase from the same period in 2024. The fourth quarter emerged as the strongest quarter of the year, with preliminary unaudited revenue expected to be $160 million, a substantial 24% year-over-year surge, serving as the primary driver for the full-year revenue growth.
SUNCAR TECHNOLOGY's performance growth stems from multifaceted strategic initiatives and business breakthroughs. In the insurance sector, the company leverages its deep partnership with electric vehicle manufacturers to continuously solidify its market advantage, showing strong business development momentum. The automotive services segment also delivered impressive results, with the company securing a record number of bids nationwide. The synergistic effects between automotive services and insurance operations continued to deepen.
On the technological front, the company successfully integrated ByteDance's Douyin AI technology into its own platform. This technological empowerment has not only effectively driven revenue growth but also optimized cost control, laying a solid foundation for enhanced performance.
It is noteworthy that JI Ruijun, formerly a Senior Vice President at Cheche Technology, recently officially joined SUNCAR TECHNOLOGY. With his years of extensive experience and industry insights in the auto insurance and automotive services sectors, Mr. Ji expressed strong confidence in SUNCAR TECHNOLOGY's dual-driver integrated development model combining automotive services and auto insurance. He stated that SUNCAR TECHNOLOGY's leading position in auto insurance digitalization, coupled with the rapid development of its automotive services segment, endows the dual-driver model with strong growth potential. The deep integration of these two businesses can achieve mutual empowerment and resource complementarity, potentially forming a unique competitive advantage in the industry and unlocking greater commercial value in the future.
YE Zaichang, CEO and Chairman of SUNCAR TECHNOLOGY, stated, "The SUNCAR TECHNOLOGY team worked cohesively to achieve profitability in the second half of 2025 while maintaining strong business growth. This result was hard-won. We are particularly encouraged by the continued deepening and upgrading of our partnership with electric vehicle manufacturers in the insurance sector. The proprietary AI technology developed for the industry has significantly enhanced our ability to create value for partners. In the automotive services business, thanks to the application of AI technology and increasing customer demand for digitalization, we have successfully secured larger-scale cooperation contracts. The synergy between automotive services and insurance is also continuously strengthening. Moving forward, the company will continue to explore the potential of integrating these two businesses to drive higher-quality development."