Roadzen Inc (RDZN) AI Stock Analysis

• Market Cap: $104.40M
• Dividend Yield: N/A
• Average Volume (3M): 459.74K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.57
• Revenue Growth: 3.42%
• EPS Growth: 93.90%
• Country: US
• Employees: 368
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): -0.12
• Shares Outstanding: 79,695,670
• 10 Day Avg. Volume: 830,996
• 30 Day Avg. Volume: 459,739
• PEG Ratio: >-0.01
• Price to Book (P/B): -28.41
• Price to Sales (P/S): 6.13
• P/FCF Ratio: -18.02
• Enterprise Value/Market Cap: 13.27K
• Enterprise Value/Revenue: 27.55K
• Enterprise Value/Gross Profit: 45.67K
• Enterprise Value/Ebitda: -391.72K
• 1Y Price Target: $5.00
• Price Target Upside: 115.52% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): -0.12
• Revenue Forecast (FY): $60.95M

• Rating: 44 Neutral
• Price Target: $1.50 ▼(-35.34% Downside)
• Action: Reiterated Date: 02/13/26
• Date: Action: Reiterated 02/13/26

The score is held down primarily by weak financial quality (large losses, sustained cash burn, and negative equity) and bearish technicals (below key moving averages with negative MACD). Valuation provides limited support due to negative earnings and no dividend, while the recent convertible-note financing helps liquidity but increases dilution and financing-cost risk.

Positive Factors

Revenue growth

Consistent, extremely strong revenue growth indicates sustainable market adoption of Roadzen’s insurtech offerings. Over a 2–6 month horizon this trend supports scaling, recurring SaaS dynamics and potential operating leverage as fixed costs spread with higher volumes, improving profitability prospects.

High gross margins (~61%)

A ~61% gross margin reflects strong unit economics typical of software and analytics products. High gross profitability creates room to invest in R&D and sales while still moving toward operating leverage; if revenue growth persists, margins enable sustainable EBITDA improvement over the medium term.

AI/telematics product differentiation

Roadzen’s AI, telematics and computer-vision analytics address core insurer workflows (underwriting, claims, damage assessment). These capabilities are structural: they embed into customer processes, create switching costs, and fit long-term industry digitization, supporting durable competitive positioning.

Negative Factors

Persistent unprofitability and cash burn

Operating and free cash flows are persistently negative, and the company reports large operating and net losses. Continued cash burn forces reliance on external financing, limits reinvestment flexibility, and raises medium-term survival risk absent sustained margin improvement or profitable scale.

Negative shareholders' equity

Negative shareholders’ equity signals accumulated losses and weak solvency. This constrains borrowing, increases creditor scrutiny, may trigger covenants, and leaves little capital buffer during downturns—structural limitations on financial flexibility until earnings reverse to rebuild equity.

Reliance on costly, dilutive convertible debt

Roadzen’s recent junior convertible notes bear high interest and are convertible, and subsequent amendments rescheduled payments and granted investor participation rights. While providing liquidity, these instruments are costly, dilutive, and impose covenants that can constrain strategic funding choices long-term.

Roadzen Inc Business Overview & Revenue Model

Company Description

RoadZen, lnc. provides an online on-demand roadside assistance services with a network of towing and roadside repair providers in India. The company suite enables Insurers and Automotive OEMs with real-time customer interactions, rapid claims processing, and better risk underwriting services. It also offers services in the areas of towing and removal, battery jumpstart, flat tire support, locked out/lost keys, fuel problems, and roadside assistance. The company was incorporated in 2015 and is based in New Delhi, India.

How the Company Makes Money

Roadzen generates revenue through multiple streams, primarily by offering subscription-based services for its telematics and fleet management platforms. These services provide real-time data and analytics to businesses, allowing them to monitor vehicle performance and driver behavior, thus improving safety and reducing operational costs. Additionally, the company earns revenue from partnerships with insurance providers, offering data-driven insights that enable personalized insurance products and risk assessments. Roadzen also explores opportunities in mobility as a service (MaaS) and collaborates with automotive manufacturers to integrate its technology into vehicles, further expanding its market reach and potential earnings.

Roadzen Inc Financial Statement Overview

Summary

Despite very strong revenue growth and ~61% gross margins, RDZN remains deeply unprofitable with large operating/net losses, persistent negative operating and free cash flow, and a balance sheet strained by negative shareholders’ equity—indicating ongoing funding needs and elevated solvency risk.

Income Statement

Revenue shows extremely strong growth in TTM (Trailing-Twelve-Months) and has generally expanded over the longer annual history, with gross margin holding near ~61% in recent annual periods. However, profitability is very weak: TTM (Trailing-Twelve-Months) results show large operating and net losses, and annual net margins have been deeply negative as well. Overall, the model appears to have decent unit-level gross profitability, but operating costs remain far too high for the current revenue base, keeping the company materially unprofitable.

Balance Sheet

The balance sheet is pressured by persistently negative shareholders’ equity across the annual periods and in TTM (Trailing-Twelve-Months), which raises financial flexibility and solvency risk. Debt is meaningful relative to the capital base given the negative equity position, and returns on equity are not economically meaningful in this context. While total assets are sizable in TTM (Trailing-Twelve-Months), the negative equity and ongoing losses make the balance sheet a key concern.

Cash Flow

Cash generation is weak: operating cash flow is negative in TTM (Trailing-Twelve-Months) and across all annual periods provided, and free cash flow is also consistently negative. Although TTM (Trailing-Twelve-Months) free cash flow shows strong growth versus the prior period, it remains a large cash outflow, indicating continued funding needs. Overall cash burn persists, and the business is not yet self-financing.

Breakdown	TTM	Jun 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	50.30M	44.30M	13.56M	9.99M	1.16M
Gross Profit	30.34M	25.46M	8.15M	5.18M	-195.16K
EBITDA	-3.54M	-67.81M	-11.84M	-4.87M	-2.64M
Net Income	-15.40M	-72.87M	-14.02M	-9.74M	-15.64M
Balance Sheet
Total Assets	44.87T	32.58M	15.18M	15.87M	17.09M
Cash, Cash Equivalents and Short-Term Investments	5.14T	5.03M	589.34K	913.64K	4.63M
Total Debt	6.53T	23.86M	8.95M	23.72M	21.48M
Total Liabilities	68.95T	58.27M	66.26M	52.83M	44.20M
Stockholders Equity	-26.60T	-25.07M	-50.85M	-36.88M	-27.10M
Cash Flow
Free Cash Flow	-825.51B	-18.57M	-8.39M	-50.07K	-5.10M
Operating Cash Flow	-3.71M	-18.14M	-7.55M	-50.07K	-4.71M
Investing Cash Flow	-2.25M	-115.62K	-841.36K	-204.10M	-2.80M
Financing Cash Flow	20.48M	11.74M	8.36M	205.09M	-24.19K

Roadzen Inc Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.32
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RDZN, the sentiment is Negative. The current price of 2.32 is above the 20-day moving average (MA) of 1.47, above the 50-day MA of 1.78, and above the 200-day MA of 1.32, indicating a neutral trend. The MACD of -0.14 indicates Negative momentum. The RSI at 39.73 is Neutral, neither overbought nor oversold. The STOCH value of 67.88 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for RDZN.

Roadzen Inc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
NTWK	59 Neutral	$38.88M	21.25	1.40%	―	7.70%	-36.01%
YXT	49 Neutral	$33.64M	0.71	―	―	―	―
UPLD	47 Neutral	$27.25M	-0.54	―	―	-15.54%	61.46%
RDZN	44 Neutral	$104.40M	-6.76	―	―	3.42%	93.90%
SURG	44 Neutral	$18.30M	-0.38	-313.72%	―	-39.75%	-89.61%
PHUN	43 Neutral	$34.52M	-3.04	-18.69%	―	―	―

Roadzen Inc Corporate Events

Roadzen Amends Notes, Reschedules Payments and Financing Rights

On February 25, 2026, Roadzen Inc. entered into a Second Amendment with an institutional investor to revise a previously agreed Securities Purchase Agreement and junior convertible notes originally issued in November 2025. The amendment changes the first two installment dates on the November notes to April 21, 2026, and May 21, 2026, reflecting a rescheduling of the company’s near-term payment obligations under the notes.

The Second Amendment also grants the investor a right to participate in certain future financings undertaken by Roadzen before June 20, 2026, subject to specified conditions and limits. These changes adjust the company’s capital-raising framework and repayment timeline, potentially easing short-term liquidity pressures while deepening its relationship with the institutional investor and shaping dilution and financing options for existing stakeholders.

The most recent analyst rating on (RDZN) stock is a Sell with a $1.00 price target. To see the full list of analyst forecasts on Roadzen Inc stock, see the RDZN Stock Forecast page.

Roadzen issues new junior convertible notes financing

On January 19–20, 2026, Roadzen Inc. entered into a securities purchase agreement with an institutional investor and completed a registered public offering of junior convertible notes with an aggregate principal amount of up to $5,555,555, sold for gross proceeds of $5 million. The notes, bearing 14% annual interest and maturing on June 20, 2027, are convertible into ordinary shares at an initial price of $3.50, feature quarterly principal repayments, redemption and make-whole provisions, and strict beneficial-ownership caps, while also restricting Roadzen’s ability to incur additional debt or issue certain equity-linked securities; in parallel, the company amended junior convertible notes issued in November 2025 to add cross-default and covenant alignment, tightening creditor protections and potentially influencing its capital structure and financing flexibility going forward.

The most recent analyst rating on (RDZN) stock is a Sell with a $1.50 price target. To see the full list of analyst forecasts on Roadzen Inc stock, see the RDZN Stock Forecast page.