Roadzen Inc Financials
Roadzen Inc (RDZN) reported $55.0M in revenue for fiscal year 2026, up 24.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Roadzen's recent improvement is mainly a cost-reset story, while cash burn still depends on outside financing.
From FY2024 to FY2026, operating margin improved from-166.2% to-25.4% because SG&A was cut far faster than revenue moved. But that cleaner income statement did not become a cash engine: FY2026 operating cash flow was still-$20.3M , largely matched by$21.4M of financing inflow, which points to ongoing dependence on external liquidity rather than self-funded operations.
The business kept gross margins in the low-60s, so the core offering was not the main source of losses; in FY2026, interest expense of
Cash conversion weakened as receivables expanded: accounts receivable reached
Financial Health Signals
Scored against emerging companies for FY2026. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Roadzen Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Roadzen Inc scores -5.97, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($132.0M) relative to total liabilities ($79.2M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Roadzen Inc passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
Roadzen Inc reported a net loss of $22.5M while operations used $20.3M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Roadzen Inc reported an operating loss of $14.0M against $7.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Roadzen Inc generated $55.0M in revenue in fiscal year 2026. This represents an increase of 24.2% from the prior year.
Roadzen Inc's EBITDA was -$11.8M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 80.0% from the prior year.
Roadzen Inc reported -$22.5M in net income in fiscal year 2026. This represents an increase of 69.1% from the prior year.
Roadzen Inc earned -$0.29 per diluted share (EPS) in fiscal year 2026. This represents an increase of 72.1% from the prior year.
Cash & Balance Sheet
Roadzen Inc recorded an outflow of $21.3M in free cash flow in fiscal year 2026, representing a cash shortfall after capex. This represents a decrease of 14.6% from the prior year.
Roadzen Inc held $6.6M in cash against $15.6M in long-term debt as of fiscal year 2026.
Not reported for fiscal year 2026.
Margins & Returns
Roadzen Inc's gross margin was 61.3% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is up 3.8 percentage points from the prior year.
Roadzen Inc's operating margin was -25.4% in fiscal year 2026, reflecting core business profitability. No change is given against fiscal year 2025: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Roadzen Inc's net profit margin was -40.9% in fiscal year 2026, showing the share of revenue converted to profit. No change is given against fiscal year 2025: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not reported for fiscal year 2026.
Capital Allocation
Roadzen Inc invested $408K in research and development in fiscal year 2026. This represents a decrease of 89.2% from the prior year.
Roadzen Inc invested $1.0M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents an increase of 137.6% from the prior year.
Not reported for fiscal year 2026.
RDZN Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY26 | FY25 | FY24 | FY23 |
|---|---|---|---|---|---|
| Revenue | $60.4M | $55.0M+24.2% | $44.3M-5.2% | $46.7M+244.6% | $13.6M |
| Cost of Revenue | $23.7M | $21.3M+13.0% | $18.8M+3.9% | $18.1M+234.9% | $5.4M |
| Gross Profit | $36.6M | $33.7M+32.5% | $25.5M-10.9% | $28.6M+251.0% | $8.1M |
| R&D Expenses | $746K | $408K-89.2% | $3.8M-24.0% | $5.0M+86.3% | $2.7M |
| SG&A Expenses | $15.9M | $16.0M-69.0% | $51.6M-21.7% | $65.9M+3654.4% | $1.8M |
| Operating Income | -$13.0M | -$14.0M+77.0% | -$60.8M+21.7% | -$77.7M-573.4% | -$11.5M |
| Interest Expense | -$5.3M | -$7.2M-7349.8% | $100K+104.4% | -$2.3M-195.2% | -$776K |
| Income Tax | -$66K | $20K+244.7% | -$14K+40.9% | -$24K+44.0% | -$42K |
| Net Income | -$28.3M | -$22.5M+69.1% | -$72.9M+26.9% | -$99.7M-10234.8% | $983K |
| EPS (Diluted) | — | -$0.29+72.1% | -$1.04 | -$2.26-162.8% | -$0.86 |
TTM is the trailing twelve months, Q2 FY2026 through Q1 FY2027, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
RDZN Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY26 | FY25 | FY24 | FY23 |
|---|---|---|---|---|
| Total Assets | $52.7M+61.6% | $32.6M-44.0% | $58.1M+282.9% | $15.2M |
| Current Assets | $32.3M+19.7% | $27.0M-45.9% | $49.8M+828.7% | $5.4M |
| Cash & Equivalents | $6.6M+36.0% | $4.8M-56.8% | $11.2M+1798.1% | $589K |
| Inventory | $117K-42.5% | $203K+186.6% | $71K+18.0% | $60K |
| Accounts Receivable | $7.5M+185.7% | $2.6M-28.1% | $3.7M+137.8% | $1.5M |
| Goodwill | $7.6M+269.5% | $2.1M0.0% | $2.1M+106.9% | $996K |
| Total Liabilities | $79.2M+35.9% | $58.3M-15.1% | $68.6M+4.0% | $66.0M |
| Current Liabilities | $58.3M+2.4% | $56.9M-13.3% | $65.7M+293.6% | $16.7M |
| Long-Term Debt | $15.6M+11069.5% | $140K-90.5% | $1.5M+125.5% | $653K |
| Total Equity | -$29.6M-18.2% | -$25.1M-148.9% | -$10.1M+80.2% | -$50.8M |
| Retained Earnings | -$246.2M-10.0% | -$223.8M-48.2% | -$151.0M-193.5% | -$51.4M |
RDZN Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY26 | FY25 | FY24 | FY23 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$22.8M | -$20.3M-11.7% | -$18.1M+5.6% | -$19.2M-1515.6% | -$1.2M |
| Capital Expenditures | N/A | $1.0M+137.6% | $425K-6.8% | $456K-45.9% | $842K |
| Free Cash Flow | N/A | -$21.3M-14.6% | -$18.6M+5.6% | -$19.7M-868.4% | -$2.0M |
| Investing Cash Flow | -$2.1M | -$897K-675.6% | -$116K+98.3% | -$6.7M-696.9% | -$841K |
| Financing Cash Flow | $26.3M | $21.4M+82.6% | $11.7M-53.7% | $25.4M+8222.8% | $305K |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TTM is the trailing twelve months, Q2 FY2026 through Q1 FY2027, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
RDZN Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY26 | FY25 | FY24 | FY23 |
|---|---|---|---|---|
| Gross Margin | 61.3%+3.8pp | 57.5%-3.7pp | 61.2%+1.1pp | 60.1% |
| Operating Margin | -25.4% | -137.3% | -166.2% | -85.0% |
| Net Margin | -40.9% | -164.5% | -213.3% | 7.2% |
| Return on Assets | -42.8%+180.9pp | -223.7%-52.2pp | -171.4%-177.9pp | 6.5% |
| Current Ratio | 0.55+0.1x | 0.47-0.3x | 0.76+0.4x | 0.32 |
| FCF Margin | -38.7%+3.2pp | -41.9%+0.2pp | -42.1%-27.1pp | -15.0% |
Not reported in any period shown, so not listed: Return on Equity, Debt-to-Equity.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.
Note: Shareholder equity is negative (-$29.6M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.55), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Where Roadzen Inc Ranks
Frequently Asked Questions
What is Roadzen Inc's annual revenue?
Roadzen Inc (RDZN) reported $55.0M in total revenue for fiscal year 2026. This represents a 24.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Roadzen Inc's revenue growing?
Roadzen Inc (RDZN) revenue grew by 24.2% year-over-year, from $44.3M to $55.0M in fiscal year 2026.
Is Roadzen Inc profitable?
No, Roadzen Inc (RDZN) reported a net income of -$22.5M in fiscal year 2026, with a net profit margin of -40.9%.
What is Roadzen Inc's EBITDA?
Roadzen Inc (RDZN) had EBITDA of -$11.8M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Roadzen Inc have?
As of fiscal year 2026, Roadzen Inc (RDZN) had $6.6M in cash and equivalents against $15.6M in long-term debt.
What is Roadzen Inc's gross margin?
Roadzen Inc (RDZN) had a gross margin of 61.3% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.
What is Roadzen Inc's operating margin?
Roadzen Inc (RDZN) had an operating margin of -25.4% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.
What is Roadzen Inc's net profit margin?
Roadzen Inc (RDZN) had a net profit margin of -40.9% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.
What is Roadzen Inc's free cash flow?
Roadzen Inc (RDZN) recorded an outflow of $21.3M in free cash flow during fiscal year 2026. This represents a -14.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Roadzen Inc's operating cash flow?
Roadzen Inc (RDZN) recorded an outflow of $20.3M in operating cash flow during fiscal year 2026, representing cash used by core business activities.
What are Roadzen Inc's total assets?
Roadzen Inc (RDZN) had $52.7M in total assets as of fiscal year 2026, including both current and long-term assets.
What are Roadzen Inc's capital expenditures?
Roadzen Inc (RDZN) invested $1.0M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.
How much does Roadzen Inc spend on research and development?
Roadzen Inc (RDZN) invested $408K in research and development during fiscal year 2026.
What is Roadzen Inc's current ratio?
Roadzen Inc (RDZN) had a current ratio of 0.55 as of fiscal year 2026, which is below 1.0, which may suggest potential liquidity concerns.
What is Roadzen Inc's return on assets (ROA)?
Roadzen Inc (RDZN) had a return on assets of -42.8% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
What is Roadzen Inc's cash runway?
Based on fiscal year 2026 data, Roadzen Inc (RDZN) had $6.6M in cash against an annual operating cash burn of $20.3M. This gives an estimated cash runway of approximately 4 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
Why is Roadzen Inc's debt-to-equity ratio negative or not reported?
Roadzen Inc (RDZN) has negative shareholder equity of -$29.6M as of fiscal year 2026, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Roadzen Inc's Altman Z-Score?
Roadzen Inc (RDZN) has an Altman Z-Score of -5.97, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Roadzen Inc's Piotroski F-Score?
Roadzen Inc (RDZN) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Roadzen Inc's earnings high quality?
Roadzen Inc (RDZN) reported a net loss of $22.5M while operations used $20.3M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Roadzen Inc cover its interest payments?
Roadzen Inc (RDZN) reported an operating loss of $14.0M against $7.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Roadzen Inc?
Roadzen Inc (RDZN) scores 33 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.