Roadzen delivers 18.8% revenue increase and reduces operating loss by 25.4% over prior-year quarter

Strategic wins, new contracts and acquisitions, expand Roadzen's U.S. market presence and full-stack operating capabilities, reinforcing its position as a global AI leader at the intersection of insurance and mobility

   -- Year-over-year Sequential Revenue Growth; Record Nine-Month RevenueQ3 
      revenue increased 18.8% over the prior-year quarter and 4.9% from Q2 to 
      $14.4 million; nine-month revenue rose 18.3% to $38.9 million, marking a 
      record nine months and Roadzen's best quarter in the last two years. 
 
   -- Operating Loss Continue to Materially Decline; Sixth Consecutive Quarter 
      of Adjusted EBITDA1 improvementQ3 operating loss narrowed to $(2.4) 
      million from $(3.2) million in the prior-year quarter, a 25.4% 
      year-over-year improvement. Adjusted EBITDA loss improved 67.1% 
      year-over-year to $(0.59) million from $(1.8) million in the prior-year 
      quarter. 
 
   -- Roadzen India Valued at Approximately $280 Million Following VehicleCare 
      Acquisition and Balance Sheet StrengtheningThe transaction establishes a 
      standalone valuation of Roadzen's India business at approximately $280 
      million, implying a look-through value of roughly $3.50 per share. In 
      November, Roadzen reached an agreement in principle to extend its $11.5 
      million senior secured debt facility with Mizuho Securities USA, LLC from 
      December 31, 2025 to June 30, 2027. 
 
   -- Strategic Acquisitions Expand Roadzen into a Global AI leader in Auto 
      InsuranceDuring and subsequent to the quarter, Roadzen identified two 
      highly strategic acquisitions--closing on EliteCover in the United States 
      and signed an agreement to acquire VehicleCare in India--positioning the 
      Company to operate across the full insurance value chain. EliteCover 
      provides Roadzen with direct access to the approximately $80 billion U.S. 
      commercial auto insurance market through its MGU platform, while 
      VehicleCare will transform Roadzen into a full-stack, AI-driven motor 
      claims operating system with direct control over repair execution, cycle 
      times, and cost outcomes at scale. 
 
   -- AI Platform Scale and Precision Continue to Differentiate Roadzen 
      GloballyRoadzen's applied AI platform now processes over 3 million 
      insurance claims annually, leveraging billions of real-world driving data 
      points to deliver high-precision underwriting, claims automation, 
      telematics, and driver monitoring at scale across global insurance and 
      mobility markets. 

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(1 Adjusted EBITDA is a non-GAAP financial metric. See "Non-GAAP Financial Measures" at the end of this press release for more information, including a reconciliation to the nearest GAAP financial measure.)

NEW YORK, Feb. 12, 2026 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) ("Roadzen" or the "Company"), a global leader in AI at the convergence of insurance and mobility, today announced its financial results for the three and nine-month periods ended December 31, 2025.

Commenting on the quarter financial accomplishment, Rohan Malhotra, founder and CEO of Roadzen, stated, "This quarter reflects the convergence of sustained business growth, expanding global customer adoption, and disciplined execution across Roadzen. We continue to secure new enterprise clients and multi-year contracts across North America, Europe, and India, while scaling existing deployments with insurers, automakers, and fleet operators. These wins underscore strong product-market fit across geographies and are driving both revenue growth and operating leverage.

Strategically, we have built capabilities that are increasingly difficult to replicate. EliteCover provides us with regulated access and distribution into the approximately $80 billion U.S. commercial auto insurance market, while VehicleCare gives us direct, on-the-ground control across repair execution. Importantly, our differentiation is rooted in real-world AI outcomes. Our domain-specific, mathematically rigorous models--trained on billions of real-world data inputs--deliver consistently high-precision decisioning across insurance and mobility workflows. This combination of proven AI accuracy, full-stack operating control, and global execution positions Roadzen as a leader in applied AI at the intersection of insurance and mobility."

Roadzen's CFO, Jean-Noël Gallardo, commented, "Q3 demonstrates the tangible results of disciplined execution. Revenue reached $14.4 million, up nearly 19% year-over-year, and operating losses continue to narrow as Adjusted EBITDA is now virtually at break-even. With operations nearing positive Adjusted EBITDA and capital managed prudently, Roadzen has significantly strengthened its financial position to support sustainable growth and drive long-term shareholder value."

Third Quarter and First Nine-Months Financial Highlights:

Revenue and Key Performance Indicators:

   -- Revenue for the third quarter totaled $14.4 million, a $2.3 million, or 
      18.8% increase over the same quarter last year and a sequential increase 
      of approximately $0.7 million, or 4.9% over the second quarter. 
 
   -- Revenue for the nine months ending December 31, 2025, was $38.9 million, 
      an increase of $6.0 million, or 18.3% over the same period last year. 
 
   -- Gross margin for the third quarter was 63.7% compared to 55.7% in the 
      second quarter. For the nine-month period, gross margin improved nearly 
      five points to 59.5% compared to 54.6% in the prior year. 
 
   -- As of December 31, 2025, Roadzen had 61 insurance customer agreements 
      (including carriers, self-insureds and other entities processing 
      insurance claims), 87 automotive customer agreements, and approximately 
      4,100 agents and fleet customer agreements. This compares to 34 insurance, 
      77 automotive and 3,700 agent and fleet customers as of December 31, 
      2024. 
 
   -- Roadzen brokerage business sold 149,810 policies during the third quarter 
      for approximately $17.1 million of Gross Written Premium ("GWP"), 
      compared to 77,326 policies in the prior fiscal year third quarter, 
      producing $13.2 million of GWP. 
 
   -- In our IaaS business, 1,397,535 claims, roadside assistance and vehicle 
      inspections were conducted during the three months ending December 31, 
      2025, an increase of approximately 100% compared to 698,657 for the same 
      quarter last year. 

Net Results:

   -- Total operating expenses for the third quarter totaled approximately 
      $16.7 million, primarily reflecting consolidation of the China joint 
      venture. 
 
   -- Other expense totaled approximately $(7.1) million, including $5.2 
      million of non-cash fair value adjustments related to share price 
      movements. 
 
   -- Net loss for the quarter totaled $(9.1) million, or $(0.12) per share, 
      driven by non-cash fair value adjustments of $(0.07) per share. 
 
   -- Adjusted EBITDA loss for the quarter was $(0.59) million, compared to 
      $(1.8) million in the prior-year quarter, marking Roadzen's sixth 
      consecutive quarter of sequential improvement. 

Third Quarter Financial Developments

   -- On October 6, 2025, the Company completed the final closing of its India 
      subsidiary financing, raising an additional $2.5 million. 
 
   -- On November 4, 2025, Roadzen reached an agreement in principle with 
      Mizuho Securities USA LLC, to extend the maturity of its $11.5 million 
      senior secured debt facility to June 30, 2027. 

Third Quarter Operational Highlights

DrivebuddyAI Developments:

   -- Achieved EU GSR 2144 Driver Monitoring System validation by Applus IDIADA, 
      expanding regulatory compliance beyond India AIS-184. 
 
   -- Surpassed 3.9 billion kilometers of real-world driving data, 
      demonstrating over 70% accident reduction. 
 
   -- Secured five-year contracts with six Indian trucking fleets covering more 
      than 1,500 vehicles, with deployment beginning March 2026. 

Acquisitions:

   -- EliteCover Acquisition -- Entry into the $80 Billion U.S. Commercial Auto 
      Insurance MarketOn December 3, 2025, Roadzen acquired majority control of 
      EliteCover, a U.S.-based licensed commercial auto insurance broker and 
      Managing General Underwriter operating in California, Texas, Illinois, 
      and New Jersey, with Lloyd's of London Coverholder status. The 
      acquisition provides Roadzen with a regulated underwriting and 
      distribution platform to participate directly in the approximately $80 
      billion U.S. commercial auto insurance market. Combined with Roadzen's 
      AI-powered underwriting, telematics-driven risk management, automated 
      claims, and integrated roadside assistance through National Auto Club, 
      EliteCover enables an end-to-end commercial auto insurance offering 
      operating on a commission- and fee-based model with no underwriting risk, 
      generating 15-20% of premiums per policy plus fee income and profit 
      share. 

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