SUNCAR TECHNOLOGY GROUP INC (SDA.US), a leading Chinese AI-powered B2B provider of automotive e-insurance and service innovations, today released its unaudited preliminary results for the first quarter of 2026. The data indicates the company has sustained its robust growth and profitability trajectory. It is projected to achieve its third consecutive profitable quarter, with revenue surging approximately 25% year-over-year. Key operational metrics continue to show positive trends, demonstrating stable momentum for high-quality development.
The company's performance reached new heights in Q1 2026, with profitability demonstrating increased resilience. Preliminary results show an estimated net profit of $1.0 million for the quarter, marking a significant reversal from a net loss of $3.6 million in the same period of 2025. Following profitable quarters in Q3 and Q4 2025, this represents the third consecutive quarter of profitability, underscoring the maturity of its profit model and steady improvement in operational quality.
Revenue maintained rapid growth, with total revenue for Q1 2026 estimated at $128 million, a 25% increase year-over-year. This highlights the company's strong business expansion capabilities and market competitiveness. Since successfully turning profitable in Q3 2025, the company has consistently expanded its revenue scale and enhanced profitability. Its dual-driver development strategy, powered by AI technology and new energy vehicle (NEV) business, has yielded significant results, continuously solidifying its core competitiveness.
The sustained positive performance is attributed to the comprehensive expansion of the company's NEV business and the deep integration of AI technology. These two core engines work in synergy to drive simultaneous growth in business scale and profit levels.
Within the NEV sector, the company's partnership network continues to broaden. It has established deep collaborations with nearly all major domestic NEV brands, including Tesla, Xiaomi, NIO, XPeng, Li Auto, Leapmotor, and Zeekr. Its coverage extends comprehensively across the full range of premium brands within the Huawei Harmony ecosystem, such as the AITO, Luxeed, Stelato, and other series. The continuous deployment of customized insurance services and intelligent solutions helps partner automakers improve policy renewal rates and reduce operational costs, unlocking greater collaborative value and serving as a core pillar for revenue growth.
The company continues to deepen the application of AI technology across all scenarios. Leveraging systems built on its Doubao large model, it has achieved scaled commercial use of its full-chain solutions, including intelligent insurance pricing, smart renewal outbound calls, intelligent vehicle service scheduling, and AIGC-powered operations. Core technologies such as dynamic risk assessment models, intelligent dispatch systems, and multimodal operational tools continuously optimize service efficiency, reduce operational costs, and enhance customer experience. These innovations provide a solid technological foundation for performance growth and help build a leading industry technology barrier.
Ye Zaichang, Chairman and CEO of SUNCAR TECHNOLOGY GROUP INC, stated, "In the first quarter of 2026, the company sustained its strong growth momentum and successfully achieved profitability for the third consecutive quarter. This is the result of the team's collective efforts and fully validates the feasibility and sustainability of our AI-driven automotive insurance and service model. The deep strategic layout in the new energy vehicle business and continuous innovation in AI technology remain the core drivers of our growth."
Looking ahead, SUNCAR TECHNOLOGY GROUP INC will continue to focus on its core businesses of automotive e-insurance and services. It plans to deepen ecosystem collaborations with NEV manufacturers and insurance institutions while expanding its presence in the Asia-Pacific region and overseas markets. Concurrently, the company will increase investment in AI R&D to promote deeper AI applications across more business scenarios. This aims to continuously enhance operational efficiency and service quality, driving high-quality business growth through technological innovation, consolidating its industry leadership, and creating greater value for partners and investors.