Roadzen, Inc. has announced its first fiscal year report as a public company, which has led to an increase in trading of its RDZN shares on Tuesday. The company was added to the Russell 2000, Russell 3000, and Russell Microcap indexes, attracting new institutional shareholders. Despite this positive news, the stock has seen a decline of over 38% in the last six months.
Revenue for FY24 rose by 245% year over year to $46.7 million, driven by increased revenue from acquisitions in the U.S. and U.K., as well as continued growth in India. The company’s CFO, Jean-Noël Gallardo, stated that the company had been focused on simplifying and streamlining its organizational structure and financial reporting protocols in preparation for another successful year in 2025. While gross margin improved slightly to 61.2%, the company reported a loss per share of $2.26 for FY24 compared to a loss of $0.86 the previous year.
In the brokerage segment, Roadzen sold 324,293 policies in fiscal year 2024, resulting in $61.8 million of Gross Written Premium – a significant increase from the previous year. Despite these positive developments and being added to several indexes that attract new institutional shareholders RDZN stock has seen a decline of over 38% in the last six months at the last check Tuesday it was trading at $