Roadzen Inc SEC Filings

Roadzen Inc. used a recent investor conference to outline its AI-driven insurance business, current scale, and growth plans. Management said the company is running at an annualized revenue rate of about $60 million and is targeting roughly $100 million, or about $25 million per quarter, within six to twelve months, implying revenue growth of more than 50%. They also indicated an expectation of reaching adjusted EBITDA breakeven in the current quarter.

The company highlighted more than a decade of AI and data investment, including about 4 billion real-world driving miles, around 3 million insurance claims processed annually, a dataset of roughly 100 million historical claims, and over 300 proprietary AI models. Roadzen reported its DrivebuddyAI platform cut accident rates by 72% in the first year for fleet customers and delivered an estimated 10 percentage-point improvement in combined ratio versus the industry average.

Roadzen is currently the only company certified under India’s AIS-184 standard for AI-based commercial vehicle safety systems. With about 1 million new commercial vehicles sold annually in India, growing around 9% per year, pricing of about $200 per vehicle per year, and its sole-certified status, Roadzen believes the Indian mandate could represent a potential incremental annual revenue opportunity of roughly $200 million over time, subject to regulatory enforcement, original equipment manufacturer adoption, and the company’s commercial execution.

Roadzen Inc. held its Annual General Meeting of Shareholders on March 31, 2026, where investors elected six directors and ratified the company’s independent auditor. On the March 2, 2025 record date, 79,663,984 Ordinary Shares were eligible to vote, and 54,457,674 shares were represented, a turnout of about 68.36%.

Each director nominee received strong shareholder support, with votes for ranging from 47,904,750 to 48,196,510. Shareholders also approved the appointment of ASA & Associates LLP as independent registered public accounting firm for the fiscal year ended March 31, 2026, with 54,262,535 votes for, 9,957 against, and 185,182 abstentions.

Roadzen Inc. held its Annual General Meeting of Shareholders on March 31, 2026, where investors elected six directors and ratified the company’s independent auditor. On the March 2, 2025 record date, 79,663,984 Ordinary Shares were eligible to vote, and 54,457,674 shares were represented, a turnout of about 68.36%.

Each director nominee received strong shareholder support, with votes for ranging from 47,904,750 to 48,196,510. Shareholders also approved the appointment of ASA & Associates LLP as independent registered public accounting firm for the fiscal year ended March 31, 2026, with 54,262,535 votes for, 9,957 against, and 185,182 abstentions.

Roadzen Inc. is calling a 2026 Annual General Meeting on March 31, 2026 in McLean, Virginia for holders of 79,695,672 Ordinary Shares as of March 2, 2026. Shareholders will vote on electing six directors for one-year terms and ratifying ASA & Associates LLP as auditor for the year ending March 31, 2026.

The board recommends voting “FOR” both proposals. The filing details board and committee composition, director independence under Nasdaq rules, executive and director compensation, outstanding RSU grants, beneficial ownership (including Rohan Malhotra’s significant stake through Avacara PTE Ltd.) and related-party transactions, as well as Roadzen’s governance, cybersecurity and clawback policies.

Roadzen Inc. is calling a 2026 Annual General Meeting on March 31, 2026 in McLean, Virginia for holders of 79,695,672 Ordinary Shares as of March 2, 2026. Shareholders will vote on electing six directors for one-year terms and ratifying ASA & Associates LLP as auditor for the year ending March 31, 2026.

The board recommends voting “FOR” both proposals. The filing details board and committee composition, director independence under Nasdaq rules, executive and director compensation, outstanding RSU grants, beneficial ownership (including Rohan Malhotra’s significant stake through Avacara PTE Ltd.) and related-party transactions, as well as Roadzen’s governance, cybersecurity and clawback policies.

Roadzen Inc. director, officer and more than 10% owner Rohan Malhotra reported an open-market purchase of 19,085 ordinary shares on March 2, 2026 at a weighted average price of $1.37 per share. Following this transaction, he directly owns 849,642 ordinary shares.

The Form 4 also notes additional indirect holdings through entities Avacara Pte Ltd. and RM Securities LLC, where Malhotra may be deemed to have beneficial ownership but disclaims beneficial ownership except to the extent of his pecuniary interest. It further reports restricted stock units that vest on September 17, 2026, conditioned on his continued service.

Roadzen Inc. director, officer and more than 10% owner Rohan Malhotra reported an open-market purchase of 19,085 ordinary shares on March 2, 2026 at a weighted average price of $1.37 per share. Following this transaction, he directly owns 849,642 ordinary shares.

The Form 4 also notes additional indirect holdings through entities Avacara Pte Ltd. and RM Securities LLC, where Malhotra may be deemed to have beneficial ownership but disclaims beneficial ownership except to the extent of his pecuniary interest. It further reports restricted stock units that vest on September 17, 2026, conditioned on his continued service.

Roadzen Inc. signed a Second Amendment to its Securities Purchase Agreement and junior convertible notes with an institutional investor. This amendment changes the first two installment payment dates on the November 2025 junior convertible notes to April 21, 2026 and May 21, 2026.

The amendment also updates the purchase agreement to give the investor a right to participate in certain financings the company may complete before June 20, 2026, subject to conditions and limits. Full legal terms are contained in the Second Amendment, which is included as an exhibit.

Roadzen Inc. signed a Second Amendment to its Securities Purchase Agreement and junior convertible notes with an institutional investor. This amendment changes the first two installment payment dates on the November 2025 junior convertible notes to April 21, 2026 and May 21, 2026.

The amendment also updates the purchase agreement to give the investor a right to participate in certain financings the company may complete before June 20, 2026, subject to conditions and limits. Full legal terms are contained in the Second Amendment, which is included as an exhibit.

Roadzen Inc. director Steven J. Carlson reported changes in how he holds company ordinary shares. On February 2, 2026, he received 463,085 ordinary shares at a price of $0.0000 per share through a pro rata distribution from Magellan Global, and now holds these shares directly. The filing also reports 892,857 ordinary shares held indirectly by Marco Polo Securities, Inc., where Mr. Carlson is chief executive officer. He may be deemed to have beneficial ownership of those indirectly held shares but disclaims beneficial ownership except to the extent of his pecuniary interest.

Roadzen Inc. director Steven J. Carlson reported changes in how he holds company ordinary shares. On February 2, 2026, he received 463,085 ordinary shares at a price of $0.0000 per share through a pro rata distribution from Magellan Global, and now holds these shares directly. The filing also reports 892,857 ordinary shares held indirectly by Marco Polo Securities, Inc., where Mr. Carlson is chief executive officer. He may be deemed to have beneficial ownership of those indirectly held shares but disclaims beneficial ownership except to the extent of his pecuniary interest.

Roadzen Inc. reported its strongest quarter in two years, with third-quarter revenue rising 18.8% year-over-year and 4.9% sequentially to $14.4 million. For the first nine months, revenue grew 18.3% to $38.9 million.

Q3 operating loss narrowed to $2.4 million from $3.2 million, while net loss widened to $9.1 million due mainly to higher interest and fair value losses. Adjusted EBITDA loss improved 67.1% year-over-year to $0.59 million, and for the nine-month period improved to a $3.1 million loss from $45.9 million, reflecting much lower non-cash costs.

As of December 31, 2025, total assets were $44.9 million against total liabilities of $69.0 million, leaving shareholders’ deficit at $26.6 million. Roadzen extended its $11.5 million senior secured facility with Mizuho to June 30, 2027 and completed two strategic deals: majority control of EliteCover, giving regulated access to the approximately $80 billion U.S. commercial auto market, and acquisition of VehicleCare in India. The VehicleCare transaction values Roadzen’s India subsidiary at about $280 million, implying roughly $3.50 per Roadzen share, with Roadzen expecting to retain around 91% ownership and to add about $10 million of high-margin revenue over the next twelve months.

Roadzen Inc. reported its strongest quarter in two years, with third-quarter revenue rising 18.8% year-over-year and 4.9% sequentially to $14.4 million. For the first nine months, revenue grew 18.3% to $38.9 million.

Q3 operating loss narrowed to $2.4 million from $3.2 million, while net loss widened to $9.1 million due mainly to higher interest and fair value losses. Adjusted EBITDA loss improved 67.1% year-over-year to $0.59 million, and for the nine-month period improved to a $3.1 million loss from $45.9 million, reflecting much lower non-cash costs.

As of December 31, 2025, total assets were $44.9 million against total liabilities of $69.0 million, leaving shareholders’ deficit at $26.6 million. Roadzen extended its $11.5 million senior secured facility with Mizuho to June 30, 2027 and completed two strategic deals: majority control of EliteCover, giving regulated access to the approximately $80 billion U.S. commercial auto market, and acquisition of VehicleCare in India. The VehicleCare transaction values Roadzen’s India subsidiary at about $280 million, implying roughly $3.50 per Roadzen share, with Roadzen expecting to retain around 91% ownership and to add about $10 million of high-margin revenue over the next twelve months.

Roadzen Inc. reported higher revenue but continued losses and liquidity pressure for the quarter and nine months ended December 31, 2025. Quarterly revenue rose to $14.4 million from $12.1 million, and nine‑month revenue reached $38.9 million versus $32.9 million a year earlier, reflecting growth in its insurtech services.

The company still posted a quarterly net loss attributable to ordinary shareholders of $9.1 million and a nine‑month net loss of $15.3 million, though this was much lower than the prior year’s $72.7 million loss, which included very large stock‑based compensation.

At December 31, 2025, Roadzen held $5.1 million in cash and cash equivalents and total assets of $44.9 million, against $69.0 million of total liabilities. Shareholders’ deficit widened to $26.6 million, with current liabilities of $63.2 million significantly exceeding current assets.

The company used $16.5 million of cash in operating activities over nine months, partly offset by $16.0 million of net cash from financing, including equity issuances and new borrowings. Management discloses “substantial doubt” about Roadzen’s ability to continue as a going concern but describes an active plan involving additional financings, liability restructurings, and prior equity raises under a shelf registration to improve liquidity.

Roadzen Inc. reported higher revenue but continued losses and liquidity pressure for the quarter and nine months ended December 31, 2025. Quarterly revenue rose to $14.4 million from $12.1 million, and nine‑month revenue reached $38.9 million versus $32.9 million a year earlier, reflecting growth in its insurtech services.

The company still posted a quarterly net loss attributable to ordinary shareholders of $9.1 million and a nine‑month net loss of $15.3 million, though this was much lower than the prior year’s $72.7 million loss, which included very large stock‑based compensation.

At December 31, 2025, Roadzen held $5.1 million in cash and cash equivalents and total assets of $44.9 million, against $69.0 million of total liabilities. Shareholders’ deficit widened to $26.6 million, with current liabilities of $63.2 million significantly exceeding current assets.

The company used $16.5 million of cash in operating activities over nine months, partly offset by $16.0 million of net cash from financing, including equity issuances and new borrowings. Management discloses “substantial doubt” about Roadzen’s ability to continue as a going concern but describes an active plan involving additional financings, liability restructurings, and prior equity raises under a shelf registration to improve liquidity.

Roadzen Inc. director Adhikari Saurav received a new stock option grant. On 09/15/2025, he was awarded stock options to purchase 152,732 ordinary shares at an exercise price of $2 per share. The options were acquired at a price of $0 and are exercisable starting 09/15/2025, with an expiration date of 09/15/2032. Following this grant, he beneficially owns 152,732 derivative securities directly.

Roadzen Inc. director Adhikari Saurav received a new stock option grant. On 09/15/2025, he was awarded stock options to purchase 152,732 ordinary shares at an exercise price of $2 per share. The options were acquired at a price of $0 and are exercisable starting 09/15/2025, with an expiration date of 09/15/2032. Following this grant, he beneficially owns 152,732 derivative securities directly.

Roadzen Inc. entered a securities purchase agreement with an institutional investor to issue junior convertible notes with up to an aggregate principal amount of $5,555,555. The notes were sold for a gross purchase price of $5,000,000, bear interest at 14% per annum and mature on June 20, 2027, with the rate rising to 18% upon an event of default. Quarterly payments of $925,000 of principal plus accrued interest begin three months after issuance. The notes are convertible into ordinary shares at an initial conversion price of $3.50 per share, subject to adjustment and a beneficial ownership cap starting at 4.99%, which holders may increase up to 9.99% with advance notice. Roadzen may redeem the notes early by paying principal, accrued interest and a make‑whole amount, and agreed to covenants restricting additional indebtedness and certain equity or equity‑linked issuances. The company also amended junior convertible notes issued in November 2025 to add cross‑default and related covenants linked to the new notes.

Roadzen Inc. entered a securities purchase agreement with an institutional investor to issue junior convertible notes with up to an aggregate principal amount of $5,555,555. The notes were sold for a gross purchase price of $5,000,000, bear interest at 14% per annum and mature on June 20, 2027, with the rate rising to 18% upon an event of default. Quarterly payments of $925,000 of principal plus accrued interest begin three months after issuance. The notes are convertible into ordinary shares at an initial conversion price of $3.50 per share, subject to adjustment and a beneficial ownership cap starting at 4.99%, which holders may increase up to 9.99% with advance notice. Roadzen may redeem the notes early by paying principal, accrued interest and a make‑whole amount, and agreed to covenants restricting additional indebtedness and certain equity or equity‑linked issuances. The company also amended junior convertible notes issued in November 2025 to add cross‑default and related covenants linked to the new notes.