What is Roadzen Inc's earnings per share (EPS)?

Roadzen Inc (RDZNW) reported diluted earnings per share of $-0.29 for fiscal year 2026. This represents a 72.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Roadzen Inc Financials

RDZNW

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE March

This page shows Roadzen Inc (RDZNW) financial statements, including the 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).

Rhea AI RDZNW FY2025 2026-04-22

Solid product-level margins are being swamped by a support cost base larger than revenue, keeping the company externally funded.

In the last two years, gross margin stayed near 60.0% while SG&A stayed above revenue, which means the product-level economics are not the main bottleneck. Free cash burn remained about 42.0% of sales, showing that the cash drain comes mostly from the operating structure rather than unusually heavy reinvestment.

The balance sheet reads like a liquidity problem more than a debt problem: the current ratio slipped to 0.5x while long-term debt was only $140K. With cash at $4.8M and negative equity, most of the pressure comes from near-term obligations rather than interest-heavy borrowing.

Because operating cash outflow was -$18.1M and capital spending only $425K, cash burn is overwhelmingly operational, not a byproduct of building out assets. Financing inflows of $11.7M helped offset that gap, so the business is still being sustained by external capital rather than internally generated cash.

Financial Health Signals

Financial health score pending refresh

We are recalculating Roadzen Inc's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Piotroski F-Score Neutral

4/9

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.

Earnings Quality Low Quality

0.90x

For every $1 of reported earnings, Roadzen Inc generates $0.90 in operating cash flow (-$20.3M OCF vs -$22.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-1.9x

Roadzen Inc earns $-1.9 in operating income for every $1 of interest expense (-$14.0M vs $7.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$55.0M

YoY+24.2%

Roadzen Inc generated $55.0M in revenue in fiscal year 2026. This represents an increase of 24.2% from the prior year.

EBITDA

-$11.8M

YoY+80.0%

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.

Net Income

-$22.5M

YoY+69.1%

Roadzen Inc reported -$22.5M in net income in fiscal year 2026. This represents an increase of 69.1% from the prior year.

EPS (Diluted)

$-0.29

YoY+72.1%

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

Free Cash Flow

-$21.3M

YoY-14.6%

Roadzen Inc generated -$21.3M in free cash flow in fiscal year 2026, representing cash available after capex. This represents a decrease of 14.6% from the prior year.

Cash & Debt

$6.6M

YoY+36.0%

Roadzen Inc held $6.6M in cash against $15.6M in long-term debt as of fiscal year 2026.

Dividends Per Share

N/A

Shares Outstanding

80M

YoY+7.3%

Roadzen Inc had 80M shares outstanding in fiscal year 2026. This represents an increase of 7.3% from the prior year.

Margins & Returns

Gross Margin

61.3%

YoY+3.8pp

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.

Operating Margin

-25.4%

YoY+111.9pp

Roadzen Inc's operating margin was -25.4% in fiscal year 2026, reflecting core business profitability. This is up 111.9 percentage points from the prior year.

Net Margin

-40.9%

YoY+123.6pp

Roadzen Inc's net profit margin was -40.9% in fiscal year 2026, showing the share of revenue converted to profit. This is up 123.6 percentage points from the prior year.

Return on Equity

N/A

Capital Allocation

R&D Spending

$408K

YoY-89.2%

Roadzen Inc invested $408K in research and development in fiscal year 2026. This represents a decrease of 89.2% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$1.0M

YoY+137.6%

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.

RDZNW Income Statement

Metric	FY26	FY25	FY24	FY23
Revenue	$55.0M+24.2%	$44.3M-5.2%	$46.7M+244.6%	$13.6M
Cost of Revenue	$21.3M+13.0%	$18.8M+3.9%	$18.1M+234.9%	$5.4M
Gross Profit	$33.7M+32.5%	$25.5M-10.9%	$28.6M+251.0%	$8.1M
R&D Expenses	$408K-89.2%	$3.8M-24.0%	$5.0M+86.3%	$2.7M
SG&A Expenses	$16.0M-69.0%	$51.6M-21.7%	$65.9M+3654.4%	$1.8M
Operating Income	-$14.0M+77.0%	-$60.8M+21.7%	-$77.7M-573.4%	-$11.5M
Interest Expense	-$7.2M-7349.8%	$100K+104.4%	-$2.3M-195.2%	-$776K
Income Tax	$20K+244.7%	-$14K+40.9%	-$24K+44.0%	-$42K
Net Income	-$22.5M+69.1%	-$72.9M+26.9%	-$99.7M-10234.8%	$983K
EPS (Diluted)	$-0.29+72.1%	$-1.04+54.0%	$-2.26-162.8%	$-0.86

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Revenue	$16.1M+12.3%	$14.4M+4.9%	$13.7M+25.9%	$10.9M-4.7%	$11.4M-5.6%	$12.1M+1.8%	$11.9M+32.9%	$8.9M
Cost of Revenue	$5.5M+6.2%	$5.2M-13.9%	$6.1M+35.5%	$4.5M+14.2%	$3.9M-8.5%	$4.3M-18.1%	$5.2M-3.9%	$5.4M
Gross Profit	$10.6M+15.8%	$9.1M+20.0%	$7.6M+19.2%	$6.4M-14.6%	$7.5M-4.1%	$7.8M+17.3%	$6.7M+90.0%	$3.5M
R&D Expenses	-$116K-139.3%	$294K+97.9%	$149K+82.2%	$82K-66.6%	$244K-2.2%	$250K-83.3%	$1.5M-16.4%	$1.8M
SG&A Expenses	$6.1M+72.3%	$3.5M-7.5%	$3.8M+47.7%	$2.6M+0.1%	$2.6M-7.1%	$2.8M-86.4%	$20.4M-20.9%	$25.8M
Operating Income	-$5.8M-144.4%	-$2.4M+29.2%	-$3.3M-32.4%	-$2.5M+32.0%	-$3.7M-17.0%	-$3.2M+86.5%	-$23.5M+22.5%	-$30.4M
Interest Expense	-$1.9M+41.3%	-$3.2M-155.1%	-$1.2M-32.7%	-$941K-135.7%	$2.6M+342.7%	-$1.1M-73.1%	-$627K+23.7%	-$822K
Income Tax	-$47K-98.8%	-$24K-318.2%	$11K-86.5%	$80K+14.7%	$70K+868.7%	-$9K+95.0%	-$181K-270.0%	$107K
Net Income	-$7.3M+20.7%	-$9.1M-334.0%	-$2.1M+47.4%	-$4.0M-2852.4%	-$136K+94.6%	-$2.5M+88.5%	-$21.8M+54.9%	-$48.4M
EPS (Diluted)	N/A	$-0.12-300.0%	$-0.03+40.0%	$-0.05	N/A	$-0.04+87.5%	$-0.32+54.9%	$-0.71

RDZNW Balance Sheet

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

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Total Assets	$52.7M+17.4%	$44.9M+8.0%	$41.5M+26.1%	$33.0M+1.2%	$32.6M+1.8%	$32.0M+9.8%	$29.1M-14.7%	$34.1M
Current Assets	$32.3M-5.6%	$34.2M+0.1%	$34.1M+25.9%	$27.1M+0.5%	$27.0M+3.7%	$26.0M+13.0%	$23.0M-13.9%	$26.7M
Cash & Equivalents	$6.6M+27.9%	$5.1M+3.4%	$5.0M+59.2%	$3.1M-35.4%	$4.8M-16.8%	$5.8M-3.0%	$6.0M-23.0%	$7.8M
Inventory	$117K-34.0%	$177K-17.4%	$214K+115.6%	$99K-51.0%	$203K+76.9%	$115K+25.1%	$92K+18.2%	$77K
Accounts Receivable	$7.5M+101.9%	$3.7M+40.2%	$2.6M+2.9%	$2.6M-1.9%	$2.6M-8.6%	$2.9M-10.9%	$3.2M+20.8%	$2.7M
Goodwill	$7.6M+84.3%	$4.1M+79.9%	$2.3M+11.5%	$2.1M0.0%	$2.1M+1.1%	$2.0M-2.7%	$2.1M+1.7%	$2.1M
Total Liabilities	$79.2M+14.8%	$69.0M+10.5%	$62.4M+1.1%	$61.8M+6.0%	$58.3M-6.7%	$62.5M-1.5%	$63.4M-5.6%	$67.2M
Current Liabilities	$58.3M-7.7%	$63.2M+3.1%	$61.3M+1.1%	$60.6M+6.5%	$56.9M-7.2%	$61.4M+0.6%	$61.0M-5.2%	$64.4M
Long-Term Debt	$15.6M+222.0%	$4.8M0.0%	$4.8M+3124.9%	$150K+7.6%	$140K+19.3%	$117K-91.2%	$1.3M-2.6%	$1.4M
Total Equity	-$29.6M-11.5%	-$26.6M+5.1%	-$28.0M+0.2%	-$28.1M-12.0%	-$25.1M+14.2%	-$29.2M+11.7%	-$33.1M-1.7%	-$32.5M
Retained Earnings	-$246.2M-3.0%	-$239.0M-3.9%	-$229.9M-0.9%	-$227.8M-1.8%	-$223.8M0.0%	-$223.7M-1.1%	-$221.2M-10.9%	-$199.4M

RDZNW Cash Flow Statement

Metric	FY26	FY25	FY24	FY23
Operating Cash Flow	-$20.3M-11.7%	-$18.1M+5.6%	-$19.2M-1515.6%	-$1.2M
Capital Expenditures	$1.0M+137.6%	$425K-6.8%	$456K-45.9%	$842K
Free Cash Flow	-$21.3M-14.6%	-$18.6M+5.6%	-$19.7M-868.4%	-$2.0M
Investing Cash Flow	-$897K-675.6%	-$116K+98.3%	-$6.7M-696.9%	-$841K
Financing Cash Flow	$21.4M+82.6%	$11.7M-53.7%	$25.4M+8222.8%	$305K
Dividends Paid	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Operating Cash Flow	-$3.8M+49.1%	-$7.5M-22.9%	-$6.1M-108.0%	-$2.9M+21.3%	-$3.7M-16.7%	-$3.2M+43.1%	-$5.6M+1.5%	-$5.7M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$184K+44.0%	-$329K-79.8%	-$183K+9.0%	-$201K+86.9%	-$1.5M-914.8%	$189K+2716.9%	$7K-99.5%	$1.2M
Financing Cash Flow	$5.5M-26.4%	$7.4M+4.8%	$7.1M+393.7%	$1.4M-68.1%	$4.5M+62.7%	$2.8M-19.1%	$3.4M+231.7%	$1.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

RDZNW Financial Ratios

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%+111.9pp	-137.3%+28.9pp	-166.2%-81.2pp	-85.0%
Net Margin	-40.9%+123.6pp	-164.5%+48.8pp	-213.3%-220.6pp	7.2%
Return on Equity	N/A	N/A	N/A	N/A
Return on Assets	-42.8%+180.9pp	-223.7%-52.2pp	-171.4%-177.9pp	6.5%
Current Ratio	0.55+0.1	0.47-0.3	0.76+0.4	0.32
Debt-to-Equity	N/A	N/A	N/A	N/A
FCF Margin	-38.7%+3.2pp	-41.9%+0.2pp	-42.1%-27.1pp	-15.0%

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Gross Margin	65.6%+2.0pp	63.7%+8.0pp	55.7%-3.1pp	58.9%-6.8pp	65.7%+1.1pp	64.6%+8.6pp	56.1%+16.8pp	39.2%
Operating Margin	-35.8%-19.4pp	-16.5%+7.9pp	-24.4%-1.2pp	-23.2%+9.3pp	-32.5%-6.3pp	-26.2%+172.0pp	-198.3%+142.0pp	-340.3%
Net Margin	-45.0%+18.7pp	-63.7%-48.3pp	-15.4%+21.5pp	-36.9%-35.7pp	-1.2%+19.6pp	-20.8%+162.8pp	-183.7%+358.3pp	-542.0%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-13.8%+6.6pp	-20.4%-15.3pp	-5.1%+7.1pp	-12.2%-11.7pp	-0.4%+7.5pp	-7.9%+67.0pp	-74.9%+66.9pp	-141.8%
Current Ratio	0.55+0.0	0.54-0.0	0.56+0.1	0.45-0.0	0.47+0.0	0.42+0.0	0.38-0.0	0.42
Debt-to-Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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.

Frequently Asked Questions

What is Roadzen Inc's annual revenue?

Roadzen Inc (RDZNW) 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 (RDZNW) 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 (RDZNW) 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 (RDZNW) 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 (RDZNW) had $6.6M in cash and equivalents against $15.6M in long-term debt.

What is Roadzen Inc's gross margin?

Roadzen Inc (RDZNW) 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 (RDZNW) 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 (RDZNW) 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 (RDZNW) generated -$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 (RDZNW) generated -$20.3M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.

What are Roadzen Inc's total assets?

Roadzen Inc (RDZNW) 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 (RDZNW) 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 (RDZNW) invested $408K in research and development during fiscal year 2026.

How many shares does Roadzen Inc have outstanding?

Roadzen Inc (RDZNW) had 80M shares outstanding as of fiscal year 2026.

What is Roadzen Inc's current ratio?

Roadzen Inc (RDZNW) 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 (RDZNW) 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 (RDZNW) 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 (RDZNW) 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 Piotroski F-Score?

Roadzen Inc (RDZNW) 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 (RDZNW) has an earnings quality ratio of 0.90x, considered low quality (accrual-driven). 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 (RDZNW) has an interest coverage ratio of -1.9x, meaning it can struggle to cover its interest obligations. 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.