SunCar Technology Group Inc. announced a first-half net income of $3.4 million, marking a significant turnaround from a previous loss. Auto services premiums rose to $916 million as the company expanded contracts with AgBank and Huawei.

Reported Friday, Sep 25 - 7:17am EDT (TheFly subscription required to read more.)

By: Quiver EarningsTracker

SunCar Technology Group (SDA) reported first-half 2026 results with $276.5 million in revenue and a return to net profitability.Total revenue rose 24% year over year from $222.3 million, driven by 29% growth in auto eInsurance services, 22% in auto services, and 15% in technology services. Net income reached $3.4 million versus a $5.5 million loss a year earlier, while adjusted EBITDA increased to $9.4 million from $2.5 million, up 276%. EV insurance premiums grew 31% to $915.9 million. Operating costs and expenses increased 21% to $270.2 million, including a 39% rise in integrated service costs, partly offset by selling and G&A expense reductions of 49% and 56%.Cash declined to $16.8 million from $25.0 million at year-end 2025, and the company reiterated its full-year 2026 revenue outlook of about $600 million.