Net Income of $3.4 Million Improving from a Net Loss of $5.5 Million
Adjusted EBITDA increased to $9.4 Million, up 269% YoY
Delivered 1H Revenue of $277 million, a 24% YoY increase
EV Premiums increased 31% YoY to $916 million
NEW YORK, Sept 23 (Bernama-GLOBE NEWSWIRE) -- SunCar Technology Group Inc. (the "Company" or "SunCar") (NASDAQ: SDA), an innovative leader in AI-powered auto insurance and auto services, today announced financial results for the six months ended June 30, 2026.
"SunCar had an excellent first half generating $3.4 million in net income, a substantial $8.9 million improvement from a $5.5 million net loss the first half of 2025,” said Zaichang Ye, Chairman and CEO of SunCar. “Our top-line growth of 24% demonstrated that SunCar can maintain strong revenue growth while also growing profits. Major wins for the Company in the first half including the AgBank chauffeur contract and multiple Huawei ecosystem customer wins show that the size and scope of SunCar’s contracts are increasing.
“I’m particularly pleased with the revenue growth in auto services, which grew 22% from the same period last year. SunCar’s auto services segment is benefiting from our investment in AI and the increased emphasis that our insurance customers are placing on value-added auto services. SunCar is realizing unprecedented synergies from our dual product offering of services and auto insurance. Our partners are achieving a new level of value by integrating SunCar’s AI features into their services. SunCar’s cloud with its combination of insurance and auto services gives our customers a single integrated technology platform from which they can offer a full suite of customized services.
“As always, SunCar’s partners and customers are critical to our growth. Our partnerships with leading companies such as Tesla, Xiaomi, NIO, Xpeng, Huawei, Zeekr, PICC, and Ping An differentiate SunCar and validate the unique product offering we have in the market.
”In terms of technology innovation, SunCar is leading the charge in the next phase of AI which will be vertical industry AI. We have integrated AI into most of our operations and, in cooperation with our partners, are now creating customer-specific AI-powered products. This next phase of AI will be led by companies with deep industry expertise that are leveraging AI to create AI-powered ecosystems just as SunCar is doing for auto insurance and services.”
"SunCar had an excellent first half generating $3.4 million in net income, a substantial $8.9 million improvement from a $5.5 million net loss the first half of 2025,” said Zaichang Ye, Chairman and CEO of SunCar. “Our top-line growth of 24% demonstrated that SunCar can maintain strong revenue growth while also growing profits. Major wins for the Company in the first half including the AgBank chauffeur contract and multiple Huawei ecosystem customer wins show that the size and scope of SunCar’s contracts are increasing.
“I’m particularly pleased with the revenue growth in auto services, which grew 22% from the same period last year. SunCar’s auto services segment is benefiting from our investment in AI and the increased emphasis that our insurance customers are placing on value-added auto services. SunCar is realizing unprecedented synergies from our dual product offering of services and auto insurance. Our partners are achieving a new level of value by integrating SunCar’s AI features into their services. SunCar’s cloud with its combination of insurance and auto services gives our customers a single integrated technology platform from which they can offer a full suite of customized services.
“As always, SunCar’s partners and customers are critical to our growth. Our partnerships with leading companies such as Tesla, Xiaomi, NIO, Xpeng, Huawei, Zeekr, PICC, and Ping An differentiate SunCar and validate the unique product offering we have in the market.
”In terms of technology innovation, SunCar is leading the charge in the next phase of AI which will be vertical industry AI. We have integrated AI into most of our operations and, in cooperation with our partners, are now creating customer-specific AI-powered products. This next phase of AI will be led by companies with deep industry expertise that are leveraging AI to create AI-powered ecosystems just as SunCar is doing for auto insurance and services.”
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