Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2024
-13.2%Operating margin2
-14.6%Net margin2
21.5%Revenue growth, 20242
-542.0%Return on equity2
$11.3MFree cash flow2
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Auto Service brought in 46% of the revenue SunCar Technology Group Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Auto Service | $215.0M | $226.5M | $223.1M |
| Auto EInsurance Service | $118.1M | $170.5M | $212.6M |
| Technology Service | $30.7M | $44.9M | $53.6M |
Where the money goes
Where each dollar of revenue went, fiscal 2024
- Research and development9¢$40.2M
- Other costs90¢$398.8M
- Income tax1¢$2.9M
Out of $441.9M in revenue.2 The company lost money this year.
Where each dollar of operating cash went, fiscal 2024
- Capital spending5¢$588.0K
- Kept or used elsewhere95¢$11.3M
Out of $11.8M of cash from operations.2
Financial statements
No quarterly figures reported.
Every line of the income statement as filed: the last 3 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total revenues | $489.3M | $441.9M | $363.7M |
| Integrated service cost | -$241.5M | -$226.2M | -$209.6M |
| Promotional service expenses | -$197.0M | -$164.3M | -$112.5M |
| Selling expenses | -$18.9M | -$22.6M | -$20.6M |
| General and administrative expenses | -$19.0M | -$47.0M | -$22.5M |
| Research and development expenses | -$9.0M | -$40.2M | -$14.1M |
| Total operating costs and expenses | -$485.4M | -$500.3M | -$379.2M |
| Operating (loss)/income | $3.9M | -$58.4M | -$15.5M |
| Financial expenses, net | -$4.2M | -$4.5M | -$4.4M |
| Investment income | $152.0K | $784.0K | $518.0K |
| Change of fair value of warrant liabilities | $897.0K | -$286.0K | -$629.0K |
| Other income/(loss), net | -$2.7M | $794.0K | $5.0M |
| Total other income/(expenses), net | -$5.9M | -$3.2M | $455.0K |
| Loss before income tax expense | -$2.1M | -$61.6M | -$15.0M |
| Income tax expense | -$346.0K | -$2.9M | -$2.6M |
| Net loss | -$2.4M | -$64.5M | -$17.6M |
| Less: Net income attributable to non-controlling interests | $1.5M | $4.2M | $9.3M |
| Net loss attributable to the Companys ordinary shareholders | -$3.9M | -$68.7M | -$26.9M |
| Basic (in Dollars per share) | -$0.04 | -$0.72 | -$0.31 |
| Diluted (in Dollars per share) | -$0.04 | -$0.72 | -$0.31 |
| Basic (in Shares) | 102.1M shares | 96.0M shares | 85.4M shares |
| Diluted (in Shares) | 102.1M shares | 96.0M shares | 85.4M shares |
| Foreign currency translation difference | $2.8M | -$1.5M | -$1.1M |
| Total other comprehensive (loss)/income | $2.8M | -$1.5M | -$1.1M |
| Total comprehensive (loss)/income | $419.0K | -$66.0M | -$18.7M |
| Less: total comprehensive income attributable to non-controlling interest | $4.1M | $2.8M | $8.1M |
| Total comprehensive loss attributable to the SUNCAR TECHNOLOGY GROUP INCs shareholders | -$3.7M | -$68.7M | -$26.8M |
No quarter-by-quarter statement was filed.
No quarterly figures reported.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash | $25.0M | $26.9M | ||
| Restricted cash | $2.8M | $2.6M | $2.7M | |
| Short-term investments | $21.6M | $21.0M | ||
| Accounts receivable, net | $59.8M | $75.6M | ||
| Prepaid expenses and other current assets, net | $74.1M | $70.2M | ||
| Total current assets | $183.3M | $196.3M | ||
| Long-term investment | $286.0K | $274.0K | ||
| Property, software and equipment, net | $24.2M | $27.7M | ||
| Intangible asset | $408.0K | |||
| Deferred tax assets, net | $11.9M | $10.5M | ||
| Other non-current assets | $30.8M | $11.5M | ||
| Right-of-use assets | $2.2M | $606.0K | ||
| Total non-current assets | $69.9M | $50.5M | ||
| TOTAL ASSETS | $253.2M | $246.7M | ||
| Short-term borrowings | $80.4M | $83.6M | ||
| Long-term borrowing, current | $71.0K | |||
| Accounts payable | $41.4M | $56.8M | ||
| Contract liabilities | $5.7M | $2.4M | $3.0M | $3.6M |
| Tax payable | $1.5M | $1.4M | ||
| Accrued expenses and other current liabilities | $10.7M | $5.8M | ||
| Operating lease liabilities, current | $834.0K | $544.0K | ||
| Total current liabilities | $147.3M | $156.8M | ||
| Operating lease liabilities, non-current | $1.3M | $21.0K | ||
| Long-term borrowing, non-current | $1.4M | |||
| Warrant liabilities | $50.0K | $947.0K | ||
| Total non-current liabilities | $15.3M | $23.7M | ||
| Total liabilities | $162.5M | $180.5M | ||
| Additional paid in capital | $233.0M | $208.7M | ||
| Accumulated deficit | -$199.3M | -$195.4M | ||
| Accumulated other comprehensive loss | -$1.1M | -$1.4M | ||
| Total SUNCAR TECHNOLOGY GROUP INCs shareholders equity | $32.5M | $11.9M | ||
| Non-controlling interests | $58.1M | $54.3M | ||
| Total shareholders equity | $90.7M | $66.2M | $68.0M | $36.8M |
| TOTAL LIABILITIES AND SHAREHOLDERS EQUITY | $253.2M | $246.7M |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash | $25.0M | $26.9M | ||
| Restricted cash | $2.8M | $2.6M | $2.7M | |
| Short-term investments | $21.6M | $21.0M | ||
| Accounts receivable, net | $59.8M | $75.6M | ||
| Prepaid expenses and other current assets, net | $74.1M | $70.2M | ||
| Total current assets | $183.3M | $196.3M | ||
| Long-term investment | $286.0K | $274.0K | ||
| Property, software and equipment, net | $24.2M | $27.7M | ||
| Intangible asset | $408.0K | |||
| Deferred tax assets, net | $11.9M | $10.5M | ||
| Other non-current assets | $30.8M | $11.5M | ||
| Right-of-use assets | $2.2M | $606.0K | ||
| Total non-current assets | $69.9M | $50.5M | ||
| TOTAL ASSETS | $253.2M | $246.7M | ||
| Short-term borrowings | $80.4M | $83.6M | ||
| Long-term borrowing, current | $71.0K | |||
| Accounts payable | $41.4M | $56.8M | ||
| Contract liabilities | $5.7M | $2.4M | $3.0M | $3.6M |
| Tax payable | $1.5M | $1.4M | ||
| Accrued expenses and other current liabilities | $10.7M | $5.8M | ||
| Operating lease liabilities, current | $834.0K | $544.0K | ||
| Total current liabilities | $147.3M | $156.8M | ||
| Operating lease liabilities, non-current | $1.3M | $21.0K | ||
| Long-term borrowing, non-current | $1.4M | |||
| Warrant liabilities | $50.0K | $947.0K | ||
| Total non-current liabilities | $15.3M | $23.7M | ||
| Total liabilities | $162.5M | $180.5M | ||
| Additional paid in capital | $233.0M | $208.7M | ||
| Accumulated deficit | -$199.3M | -$195.4M | ||
| Accumulated other comprehensive loss | -$1.1M | -$1.4M | ||
| Total SUNCAR TECHNOLOGY GROUP INCs shareholders equity | $32.5M | $11.9M | ||
| Non-controlling interests | $58.1M | $54.3M | ||
| Total shareholders equity | $90.7M | $66.2M | $68.0M | $36.8M |
| TOTAL LIABILITIES AND SHAREHOLDERS EQUITY | $253.2M | $246.7M |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss | -$2.4M | -$64.5M | -$17.6M |
| (Reversal)/ provision for credit losses | $3.7M | $1.3M | -$4.1M |
| Depreciation | $6.1M | $4.5M | $4.1M |
| Amortization of right-of-use assets | $839.0K | $775.0K | $754.0K |
| Share-based compensation of subsidiary | $998.0K | $1.5M | $1.5M |
| Share-based compensation of the Group | $62.0M | $9.8M | |
| (Gain)/Loss on disposal of property, software and equipment | $108.0K | $4.0K | -$27.0K |
| Deferred income tax expense /(benefit) | -$1.0M | $1.2M | $701.0K |
| Fair value changes of warrant liabilities | -$897.0K | $286.0K | $629.0K |
| Financing expense related to issuance of GEM Warrants | $606.0K | $607.0K | $377.0K |
| Accrued liability for GEM litigation | $3.1M | ||
| Accounts receivable | $14.9M | -$22.7M | $30.8M |
| Prepaid expenses and other current assets | -$8.6M | -$6.7M | -$55.9M |
| Accounts payable | -$17.4M | $31.3M | $3.1M |
| Contract liabilities | $3.1M | -$554.0K | -$418.0K |
| Accrued expenses and other current liabilities | $3.3M | $1.4M | -$288.0K |
| Tax payable | $46.0K | $35.0K | -$621.0K |
| Operating lease liabilities | -$793.0K | -$691.0K | -$680.0K |
| Amount due to related parties | $1.9M | $150.0K | |
| Total net cash (used in) provided by operating activities | $5.7M | $11.8M | -$27.7M |
| Purchase of property, software and equipment | -$380.0K | -$588.0K | -$4.9M |
| Proceeds from disposal of property, software and equipment | $3.0K | $43.0K | $54.0K |
| Payment for acquisition of an insurance license | -$236.0K | ||
| Purchase of short-term investment | -$451.0K | -$21.6M | -$518.0K |
| Proceeds from the redemption of short-term investment | $750.0K | $21.7M | $4.7M |
| Payment of securities margin | -$4.0M | ||
| Purchase of other non-current assets | -$8.6M | -$11.6M | -$1.7M |
| Total net cash used in investing activities | -$12.9M | -$12.1M | -$2.4M |
| Proceeds from short-term borrowings | $104.6M | $105.9M | $104.5M |
| Repayments of short-term borrowings | -$111.3M | -$103.0M | -$94.0M |
| Proceeds from long-term borrowing | $1.4M | ||
| Payment for GEM litigation | -$1.6M | ||
| Repayments of payables to a related party | -$11.6M | -$1.7M | -$10.0M |
| Proceeds from issuance of ordinary shares, net of issuance cost | $41.6M | $18.5M | |
| Cash required on reverse recapitalization | $68.0K | ||
| Proceeds from Private Placement | $21.7M | ||
| Payment for offering cost related to Business Combination | -$588.0K | ||
| Shares repurchase | -$15.8M | -$2.0M | |
| Exercise of warrants | $2.2M | ||
| Repurchase of non-controlling interests | -$3.2M | -$4.1M | |
| Total net cash provided by (used in) financing activities | $4.4M | -$3.0M | $40.4M |
| Effect of exchange rate changes | $1.2M | -$826.0K | -$711.0K |
| Net change in cash and restricted cash | -$1.7M | -$4.1M | $9.7M |
| Income tax paid | $1.3M | $1.5M | $2.6M |
| Interest expense paid | $3.5M | $3.7M | $3.7M |
| Decrease of accrued expenses and other current liabilities due to vest of restricted shares | $311.0K | $311.0K | $311.0K |
| Property, software and equipment transferred from other non-current assets | $9.9M | $3.7M | |
| Obtaining right-of-use assets in exchange for operating lease liabilities | $2.3M | $103.0K | $1.7M |
| Prepaid financing expense related to issuance of GEM Warrants | $229.0K | $835.0K | $1.4M |
| Repayments of payables to a related party (Note 19) | $4.5M |
No quarter-by-quarter statement was filed.
Corporate structure
SunCar Technology Group Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of SunCar Technology Group Inc.
- KMBP Holdings Ltd Filed SCHEDULE 13D/A on SunCar Technology Group Inc., latest Sep 10, 2026 (5 filings since Jan 26, 2024)
- China Renaissance Capital Investment II GP Filed SC 13D/A on SunCar Technology Group Inc., latest Nov 8, 2023 (2 filings since Nov 8, 2023)
- Automobile Services Group Ltd Filed SC 13D on SunCar Technology Group Inc., latest May 30, 2023
- China Renaissance Capital II GP Filed SC 13D on SunCar Technology Group Inc., latest May 30, 2023
- SunCar Technology Group Inc. Shanghai, China
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What SunCar Technology Group Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $46.5M2 Dec 31, 2024 | $37.4M2 Dec 31, 2023 | +24.3% |
| Accumulated depreciation | $18.8M2 Dec 31, 2024 | $14.9M2 Dec 31, 2023 | +26.0% |
| Property and equipment, net | $27.7M2 Dec 31, 2024 | $22.5M2 Dec 31, 2023 | +23.1% |
| Operating-lease assets (leased space) | $606.0K2 Dec 31, 2024 | $1.3M2 Dec 31, 2023 | −52.7% |
Investments
Filings
112 filings to the SEC since October 2021: 4 annual reports, 9 large holders, 99 other. The latest 20:
- Sep 22, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Sep 22, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Sep 10, 2026SCHEDULE 13D/A EDGAR
- Sep 1, 2026S-8 REGISTRATION STATEMENT EDGAR
- Jul 30, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- May 27, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Apr 29, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Apr 28, 202620-F ANNUAL REPORT EDGAR
- Apr 27, 2026SCHEDULE 13D/A EDGAR
- Apr 3, 2026SCHEDULE 13D/A EDGAR
- Feb 3, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Dec 22, 20256-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Nov 21, 2025SCHEDULE 13D/A EDGAR
- Oct 27, 20256-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Sep 18, 20256-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- May 30, 20256-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- May 21, 20256-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Apr 28, 202520-F ANNUAL REPORT EDGAR
- Feb 7, 20256-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Feb 7, 20256-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
The 112 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- KMBP Holdings LtdSCHEDULE 13D/A, 5 filings Jan 26, 2024 to Sep 10, 20266
- China Renaissance Capital Investment II GPSC 13D/A, 2 filings Nov 8, 20237
- Automobile Services Group LtdSC 13D, 1 filing May 30, 20238
- China Renaissance Capital II GPSC 13D, 1 filing May 30, 20239
SEC filer profile
How SunCar Technology Group Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARSunCar Technology Group Inc.1
- CIK0001936804
- Filer statusAccelerated filer an emerging growth company; not a shell company10
- Incorporated inCayman Islands10
- Fiscal year endsDecember 311
- Industry code (SIC)7500 Services-Automotive Repair, Services & Parking1
- SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
- Business addressSuite 209, No. 656 Lingshi Road, Jing'An District, Shanghai, F4 2000721
- Phone86-186021686681
- Shares outstanding59,608,351 shares; 46,039,565 shares10
- AuditorEnrome LLP, Singapore PCAOB ID 6907; no auditor attestation of internal control over financial reporting10
- On EDGAR sinceJul 8, 20221
- Filings112 in all: 6-K (26), CORRESP (14), UPLOAD (14), 424B3 (7), EFFECT (6), 20-F (4), F-1/A (4), F-4/A (4)1
All 24 form types
SCHEDULE 13D/A (4), DRS/A (3), DRSLTR (3), F-1 (3), SC 13D (3), 424B4 (2), 424B5 (2), DRS (2), F-3 (2), S-8 (2), SC 13D/A (2), 20FR12B (1), 8-A12B (1), DEL AM (1), F-3/A (1), F-4 (1)
- Latest filingsAnnual report (20-F) Apr 28, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Class A Ordinary Shares, $0.0001 par value per share | SDA | Nasdaq |
| Warrants, each exercisable for one-half of one Class A Ordinary Share at an exercise price of $11.50 per full share | SDAWW | Nasdaq |
From the cover page of the 20-F filed Apr 28, 2026 (Section 12(b) of the Exchange Act).10
Sources
The numbers on this page point here. Each one links to the record it came from.
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