NEW YORK, March 06, 2026 (GLOBE NEWSWIRE) -- SunCar Technology Group Inc. (the "Company" or "SunCar") (NASDAQ: SDA), a leader in digitalizing auto insurance in China, is forecasting revenue of $498 million for 2025, a 13% increase from 2024.
For the first three quarters of 2025, SunCar's revenues were $338 million, an 8% increase from the previous year period.
In the fourth quarter of 2025, SunCar had its strongest quarter with preliminary unaudited revenue forecasted to be $160 million, a 24% increase from the same quarter in 2024. The Company expects to be profitable for the second half of 2025.
SunCar's revenue forecast for the full-year 2026 is $600 million, an approximate increase of 20% from its forecasted unaudited 2025 revenue of $498 million.
The Company is enjoying strong momentum in the insurance segment from its EV partnerships. In auto services, SunCar is winning an unprecedented number of countrywide bids as well as seeing increased synergies with its insurance business. The Company's further integration of ByteDance DouBao's AI into its platform is contributing to both revenue growth and cost reduction.
SunCar's CEO and Chairman, Zaichang Ye commented, "SunCar's team worked hard to achieve profitability for the second half of 2025 while still registering strong growth. We are excited about the evolution of our EV manufacturer partnerships in the insurance segment. Our industry-specific AI technology plays a large part in increasing SunCar's value proposition to these partners. In auto services' business, we are winning larger contracts and seeing increased synergies with the insurance segment because of AI and the increasing digitalization of our customers."
Forward-Looking Statements
This press release contains information about the Company's view of its future expectations, plans, and prospects that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of products and services, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property. Forward-looking statements in this release include statements regarding the planned launch of AI-powered services, expected improvements in customer experience, potential cost reductions, and the development of SaaS solutions. These statements involve risks including technology development challenges, market acceptance, regulatory approval requirements, and the ability to scale AI implementations. For a detailed discussion of these risks, please refer to the Company's Annual Report on Form 20-F and other filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date of this press release, and the Company undertakes no obligation to update or revise these statements, except as required by law.
Contact Information:
SunCar:
Investor Relations: Mr. Breaux Walker
Email: IR@suncartech.com
Legal: Ms. Li Chen
Email: chenli@suncartech.com
SOURCE SunCar Technology Group Inc.
