On Tuesday, shares of Roadzen, Inc. (RDZN) experienced a surge in demand after the company released its first financial report as a public entity. In addition to this, Roadzen was included in the Russell 2000, Russell 3000, and Russell Microcap indexes, attracting new institutional investors.
In the fiscal year 2024, Roadzen saw tremendous growth with a 245% increase in revenue compared to the previous year’s $19.8 million. This growth was driven by incremental revenue from U.S. and U.K. acquisitions as well as continued expansion in India. Gross margin also showed improvement, rising slightly to 61.2% from the previous year’s 60.1%.
Jean-Noël Gallardo, Roadzen’s CFO, stated that the company has made organizational and financial reporting changes in preparation for continued growth and success in 2025. Despite reporting a loss per share of $2.26 in FY24 compared to a $0.86 loss in the previous year, Roadzen experienced a substantial increase in policies sold in the brokerage segment leading to a 25% increase in Gross Written Premium – an impressive achievement given current market conditions.
As of March 31st, Roadzen reported $11
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