On Tuesday, Roadzen, Inc. (RDZN) announced its first fiscal year as a public company and reported a significant increase in revenue, with a 245% year-over-year jump to $46.7 million. The company’s growth was attributed to incremental revenue from U.S. and U.K. acquisitions, as well as ongoing expansion in India.
Roadzen also revealed that it had been included in the Russell 2000, Russell 3000, and Russell Microcap indexes, attracting new institutional shareholders. Despite a loss per share of $2.26 in FY24 compared to a $0.86 loss in the previous year, the company saw a substantial increase in policies sold in the brokerage segment, leading to a 25.5% increase in Gross Written Premium.
Jean-Noël Gallardo, Roadzen’s CFO, mentioned that the company had made organizational and financial reporting changes to prepare for continued growth and success in 2025. As of the end of March, Roadzen reported $11.2 million in cash on hand. Over the past six months, RDZN stock had declined by over 38%. At the last check on Tuesday, RDZN shares were trading higher by 80% at $2.93
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