SunCar Technology Group Inc. Financials

SDA

Source SEC Filings (10-K/10-Q) Updated Jun 30, 2025 Currency USD FYE December

Financial Health Signals

Financial Profile 27/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

SunCar Technology Group Inc. has an operating margin of -13.2%, meaning the company retains $-13 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -4.3% the prior year.

Growth

SunCar Technology Group Inc.'s revenue surged 21.5% year-over-year to $441.9M, reflecting rapid business expansion. This strong growth earns a score of 90/100.

Leverage

SunCar Technology Group Inc. has elevated debt relative to equity (D/E of 19.75), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Liquidity

SunCar Technology Group Inc.'s current ratio of 1.25 indicates adequate short-term liquidity, earning a score of 30/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

SunCar Technology Group Inc.'s free cash flow margin of 2.5% results in a low score of 13/100. Capital expenditures of $588K absorb a large share of operating cash flow.

Piotroski F-Score Weak

3/9

SunCar Technology Group Inc. passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Mixed

-0.18x

For every $1 of reported earnings, SunCar Technology Group Inc. generates $-0.18 in operating cash flow ($11.8M OCF vs -$64.5M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk

-15.9x

SunCar Technology Group Inc. earns $-15.9 in operating income for every $1 of interest expense (-$58.4M vs $3.7M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

This page shows SunCar Technology Group Inc. (SDA) 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).

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Key Financial Metrics

Revenue

$441.9M

YoY+21.5%

SunCar Technology Group Inc. generated $441.9M in revenue in fiscal year 2024. This represents an increase of 21.5% from the prior year.

EBITDA

-$53.9M

YoY-374.6%

SunCar Technology Group Inc.'s EBITDA was -$53.9M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 374.6% from the prior year.

Free Cash Flow

$11.3M

YoY+134.5%

SunCar Technology Group Inc. generated $11.3M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 134.5% from the prior year.

Net Income

-$64.5M

YoY-266.6%

SunCar Technology Group Inc. reported -$64.5M in net income in fiscal year 2024. This represents a decrease of 266.6% from the prior year.

EPS (Diluted)

$-0.72

YoY-132.3%

SunCar Technology Group Inc. earned $-0.72 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 132.3% from the prior year.

Cash & Debt

$26.9M

YoY-12.9%

SunCar Technology Group Inc. held $26.9M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

N/A

Gross Margin

N/A

Operating Margin

-13.2%

YoY-9.0pp

SunCar Technology Group Inc.'s operating margin was -13.2% in fiscal year 2024, reflecting core business profitability. This is down 9.0 percentage points from the prior year.

Net Margin

-14.6%

YoY-9.8pp

SunCar Technology Group Inc.'s net profit margin was -14.6% in fiscal year 2024, showing the share of revenue converted to profit. This is down 9.8 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$40.2M

YoY+185.2%

SunCar Technology Group Inc. invested $40.2M in research and development in fiscal year 2024. This represents an increase of 185.2% from the prior year.

Share Buybacks

$4.1M

SunCar Technology Group Inc. spent $4.1M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

$588K

YoY-88.1%

SunCar Technology Group Inc. invested $588K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 88.1% from the prior year.

SDA Income Statement

Metric	FY24	FY23	FY22	FY21
Revenue	$441.9M+21.5%	$363.7M+28.8%	$282.4M+13.3%	$249.2M
Cost of Revenue	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A
R&D Expenses	$40.2M+185.2%	$14.1M+66.4%	$8.5M+132.2%	$3.7M
SG&A Expenses	$47.0M+109.2%	$22.5M-40.5%	$37.7M+262.2%	$10.4M
Operating Income	-$58.4M-277.5%	-$15.5M-22.9%	-$12.6M-221.4%	$10.4M
Interest Expense	$3.7M+0.1%	$3.7M-3.8%	$3.8M+9.6%	$3.5M
Income Tax	$2.9M+10.9%	$2.6M+1013.4%	$231K-75.4%	$938K
Net Income	-$64.5M-266.6%	-$17.6M-47.7%	-$11.9M+34.2%	-$18.1M
EPS (Diluted)	$-0.72-132.3%	$-0.31-287.5%	$-0.08+72.4%	$-0.29

Metric	Q2'25	Q1'25	Q2'24	Q3'24	Q1'24	Q4'23	Q3'23	Q2'23
Revenue	N/A	$102.6M	N/A	N/A	$85.6M	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	$923K	N/A	N/A	$606K	N/A	N/A	N/A
SG&A Expenses	N/A	$5.4M	N/A	N/A	$4.6M	N/A	N/A	N/A
Operating Income	N/A	-$3.0M	N/A	N/A	-$4.5M	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	-$84K	N/A	N/A	-$199K	N/A	N/A	N/A
Net Income	N/A	-$3.6M	N/A	N/A	-$5.0M	N/A	N/A	N/A
EPS (Diluted)	N/A	$-0.03	N/A	N/A	$-0.04	N/A	N/A	N/A

SDA Balance Sheet

Metric	FY24	FY23	FY22	FY21
Total Assets	$246.7M+10.5%	$223.2M+16.3%	$192.0M	N/A
Current Assets	$196.3M+12.0%	$175.2M+20.5%	$145.3M	N/A
Cash & Equivalents	$26.9M-12.9%	$30.9M+45.5%	$21.2M-38.6%	$34.5M
Inventory	N/A	N/A	N/A	N/A
Accounts Receivable	$75.6M+34.9%	$56.0M-34.5%	$85.6M	N/A
Goodwill	N/A	N/A	N/A	N/A
Total Liabilities	$234.8M+13.4%	$207.2M+5.0%	$197.3M	N/A
Current Liabilities	$156.8M+26.0%	$124.4M-19.8%	$155.2M	N/A
Long-Term Debt	N/A	N/A	N/A	N/A
Total Equity	$11.9M-26.0%	$16.1M+404.3%	-$5.3M-120.0%	$26.5M
Retained Earnings	-$195.4M-54.2%	-$126.7M-27.3%	-$99.6M	N/A

Metric	Q2'25	Q1'25	Q2'24	Q3'24	Q1'24	Q4'23	Q3'23	Q2'23
Total Assets	$277.5M+0.3%	$276.7M+12.1%	$246.7M-2.1%	$252.1M	N/A	$223.2M	N/A	$224.0M
Current Assets	$223.4M-1.7%	$227.2M+15.7%	$196.3M-0.1%	$196.5M	N/A	$175.2M	N/A	$177.3M
Cash & Equivalents	$24.3M-38.0%	$39.2M+46.0%	$26.9M+32.7%	$20.2M-5.4%	$21.4M-30.7%	$30.9M+45.8%	$21.2M-40.3%	$35.5M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$97.6M+16.6%	$83.7M+10.7%	$75.6M-2.0%	$77.1M	N/A	$56.0M	N/A	$74.6M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$248.2M+32.7%	$187.1M-20.3%	$234.8M+0.2%	$234.3M	N/A	$207.2M	N/A	$170.1M
Current Liabilities	$177.1M+5.3%	$168.2M+7.3%	$156.8M+2.8%	$152.5M	N/A	$124.4M	N/A	$126.0M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$29.4M-15.7%	$34.8M+192.8%	$11.9M-32.9%	$17.7M-71.7%	$62.5M+288.9%	$16.1M-69.9%	$53.4M+476.9%	$9.3M
Retained Earnings	-$202.8M-2.0%	-$198.8M-1.7%	-$195.4M-2.0%	-$191.5M	N/A	-$126.7M	N/A	-$103.2M

SDA Cash Flow Statement

Metric	FY24	FY23	FY22	FY21
Operating Cash Flow	$11.8M+142.8%	-$27.7M-71.3%	-$16.1M+36.9%	-$25.6M
Capital Expenditures	$588K-88.1%	$4.9M+13.3%	$4.4M+238.9%	$1.3M
Free Cash Flow	$11.3M+134.5%	-$32.6M-59.0%	-$20.5M+23.7%	-$26.9M
Investing Cash Flow	-$12.1M-407.4%	-$2.4M+59.6%	-$5.9M+71.4%	-$20.7M
Financing Cash Flow	-$3.0M-107.3%	$40.4M+280.2%	$10.6M+16215.2%	-$66K
Dividends Paid	N/A	N/A	N/A	N/A
Share Buybacks	$4.1M	N/A	$510K-56.9%	$1.2M

Metric	Q2'25	Q1'25	Q2'24	Q3'24	Q1'24	Q4'23	Q3'23	Q2'23
Operating Cash Flow	$9K+100.1%	-$9.3M-186.9%	$10.7M+180.0%	$3.8M+188.5%	-$4.3M-224.9%	$3.4M+132.6%	-$10.6M	N/A
Capital Expenditures	$6K-64.7%	$17K-29.2%	$24K-92.5%	$319K+89.9%	$168K-84.1%	$1.1M-67.9%	$3.3M	N/A
Free Cash Flow	$3K+100.0%	-$9.3M-187.3%	$10.6M+204.9%	$3.5M+178.1%	-$4.5M-287.3%	$2.4M+117.2%	-$13.9M	N/A
Investing Cash Flow	-$7.5M-5315.2%	-$138K+94.1%	-$2.4M+5.9%	-$2.5M+38.6%	-$4.1M-1813.6%	-$213K+93.1%	-$3.1M	N/A
Financing Cash Flow	-$9.2M-139.6%	$23.1M+3796.0%	-$626K+75.3%	-$2.5M-256.8%	-$710K-111.2%	$6.4M+549.5%	-$1.4M	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$2.0M-85.6%	$13.8M	N/A	N/A	N/A	N/A	N/A	N/A

SDA Financial Ratios

Metric	FY24	FY23	FY22	FY21
Gross Margin	N/A	N/A	N/A	N/A
Operating Margin	-13.2%-9.0pp	-4.3%+0.2pp	-4.5%-8.6pp	4.2%
Net Margin	-14.6%-9.8pp	-4.8%-0.6pp	-4.2%+3.0pp	-7.3%
Return on Equity	N/A	N/A	N/A	N/A
Return on Assets	-26.1%-18.3pp	-7.9%-1.7pp	-6.2%	N/A
Current Ratio	1.25-0.2	1.41+0.5	0.94	N/A
Debt-to-Equity	19.75+6.9	12.88+50.2	-37.33	N/A
FCF Margin	2.5%+11.5pp	-9.0%-1.7pp	-7.3%+3.5pp	-10.8%

Metric	Q2'25	Q1'25	Q2'24	Q3'24	Q1'24	Q4'23	Q3'23	Q2'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	-2.9%	N/A	N/A	-5.3%	N/A	N/A	N/A
Net Margin	N/A	-3.5%	N/A	N/A	-5.8%	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	-1.3%	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	1.26-0.1	1.35+0.1	1.25-0.0	1.29	N/A	1.41	N/A	1.41
Debt-to-Equity	8.46+3.1	5.37-14.4	19.75+6.5	13.22	N/A	12.88	N/A	18.39
FCF Margin	N/A	-9.0%	N/A	N/A	-5.2%	N/A	N/A	N/A

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Frequently Asked Questions

What is SunCar Technology Group Inc.'s annual revenue?

SunCar Technology Group Inc. (SDA) reported $441.9M in total revenue for fiscal year 2024. This represents a 21.5% 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 SunCar Technology Group Inc.'s revenue growing?

SunCar Technology Group Inc. (SDA) revenue grew by 21.5% year-over-year, from $363.7M to $441.9M in fiscal year 2024.

Is SunCar Technology Group Inc. profitable?

No, SunCar Technology Group Inc. (SDA) reported a net income of -$64.5M in fiscal year 2024, with a net profit margin of -14.6%.

What is SunCar Technology Group Inc.'s earnings per share (EPS)?

SunCar Technology Group Inc. (SDA) reported diluted earnings per share of $-0.72 for fiscal year 2024. This represents a -132.3% 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.

What is SunCar Technology Group Inc.'s EBITDA?

SunCar Technology Group Inc. (SDA) had EBITDA of -$53.9M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is SunCar Technology Group Inc.'s operating margin?

SunCar Technology Group Inc. (SDA) had an operating margin of -13.2% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is SunCar Technology Group Inc.'s net profit margin?

SunCar Technology Group Inc. (SDA) had a net profit margin of -14.6% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is SunCar Technology Group Inc.'s free cash flow?

SunCar Technology Group Inc. (SDA) generated $11.3M in free cash flow during fiscal year 2024. This represents a 134.5% 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 SunCar Technology Group Inc.'s operating cash flow?

SunCar Technology Group Inc. (SDA) generated $11.8M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are SunCar Technology Group Inc.'s total assets?

SunCar Technology Group Inc. (SDA) had $246.7M in total assets as of fiscal year 2024, including both current and long-term assets.

What are SunCar Technology Group Inc.'s capital expenditures?

SunCar Technology Group Inc. (SDA) invested $588K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does SunCar Technology Group Inc. spend on research and development?

SunCar Technology Group Inc. (SDA) invested $40.2M in research and development during fiscal year 2024.

Does SunCar Technology Group Inc. buy back shares?

Yes, SunCar Technology Group Inc. (SDA) spent $4.1M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

What is SunCar Technology Group Inc.'s current ratio?

SunCar Technology Group Inc. (SDA) had a current ratio of 1.25 as of fiscal year 2024, which is considered adequate.

What is SunCar Technology Group Inc.'s debt-to-equity ratio?

SunCar Technology Group Inc. (SDA) had a debt-to-equity ratio of 19.75 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is SunCar Technology Group Inc.'s return on assets (ROA)?

SunCar Technology Group Inc. (SDA) had a return on assets of -26.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is SunCar Technology Group Inc.'s Piotroski F-Score?

SunCar Technology Group Inc. (SDA) has a Piotroski F-Score of 3 out of 9, indicating weak 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are SunCar Technology Group Inc.'s earnings high quality?

SunCar Technology Group Inc. (SDA) has an earnings quality ratio of -0.18x, considered mixed quality. 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 SunCar Technology Group Inc. cover its interest payments?

SunCar Technology Group Inc. (SDA) has an interest coverage ratio of -15.9x, 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.

How financially healthy is SunCar Technology Group Inc.?

SunCar Technology Group Inc. (SDA) scores 27 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.