SunCar Technology Reports 29% Revenue Growth, Including 79% Increase in Auto e-Insurance Business in FY 2023
SunCar Technology Group Inc. - Ordinary Shares (SDA)
Company Research
Source: PR Newswire
Adjusted EBITDA increased by $7.2 million to $1.6 million in 2023Conference Call and Webcast on April 30th at 5 PM ETNEW YORK, April 29, 2024 /PRNewswire/ -- SunCar Technology Group Inc. (the "Company" or "SunCar") (NASDAQ: SDA), an innovative leader in cloud-based B2B auto services and auto e-insurance in China, today provided a business update and reported financial results for the year ended December 31, 2023.Fiscal Year 2023 Financial ResultsFor the fiscal year ended December 31, 2023, total revenues were $364 million, up 29% from $282 million in 2022.Our auto service segment reported revenue of $215 million in fiscal year 2023, an increase of 8% from $199 million in fiscal year 2022. The increase was driven by the increase in service orders in 2023. This segment is enabled by SunCar's technology platform, which facilitates auto services, such as car wash, maintenance, driving service, and road assistance.Our auto eInsurance segment generated $118 million in fiscal year 2023, a 75
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- SunCar Technology Group Inc. Schedules Fiscal Year 2023 Earnings Conference Call on Tuesday, April 30th at 5 p.m. ETPR Newswire
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SDA
Sec Filings
- 5/2/24 - Form 424B3
- 5/2/24 - Form 424B3
- 5/2/24 - Form 424B3
- SDA's page on the SEC website