Roadzen (RDZN) Q1 2027 earnings summary

Executive summary

• Revenue for Q2 2026/Q1 FY2027 grew 49% year-over-year to $16.2 million, marking a record quarter driven by acquisitions and organic growth in both IaaS and brokerage segments.

• Net loss attributable to shareholders widened to $9.8 million, or $(0.12) per share, primarily due to a $7.2 million non-cash fair-value loss, including a $5.9 million write-down related to the Forward Purchase Agreement (FPA) litigation.

• Adjusted EBITDA loss improved to $0.4 million from $1.4 million year-over-year, marking the eighth consecutive quarter of improvement.

• Exited the quarter at a $65 million annualized revenue run rate and secured over $30 million in new contracted revenue.

• Signed a definitive agreement to acquire a leading European MGA, expected to add $18–20 million in annual revenue and $1.6–2.0 million in EBITDA.

Financial highlights

• Revenue: $16.2 million, up 49% year-over-year; IaaS revenue up 72%, brokerage up 28%.

• Adjusted EBITDA loss narrowed to $(0.37) million from $(1.41) million year-over-year.

• Operating margin improved to (9.5%) from (23.2%) year-over-year.

• Total assets were $47.7 million and cash/cash equivalents stood at $6.0 million as of June 30, 2026.

• Net loss per share: $(0.12) vs. $(0.05) year-over-year.

Outlook and guidance

• Management expects to exit FY2027 at a $100+ million annualized revenue run rate.

• Continued focus on reaching Adjusted EBITDA breakeven and driving operating leverage.

• Management expects continued operating losses and negative cash flows as investments in technology, sales, and market expansion persist.

• Liquidity plans include raising additional equity and debt, restructuring liabilities, and optimizing working capital.

• Management believes current initiatives will provide sufficient liquidity for the next 12 months.