SunCar Technology Group Inc.

SunCar Technology Group Inc. announced that its board of directors has authorized a share repurchase program to buy back up to $10 million of its outstanding Class A ordinary shares. This reflects the Company's confidence in its long-term growth prospects. The program is expected to run for the next three months and will be funded by cash on hand and cash generated from operations. The Company may repurchase shares through various methods in accordance with applicable securities laws.

SunCar Technology Group Inc. announced it received a notification from Nasdaq on July 27, 2026, indicating non-compliance with the minimum bid price requirement. The company's Class A ordinary shares traded below $1.00 for 30 consecutive business days, from June 10 to July 24, 2026. SunCar has been granted 180 calendar days, until January 25, 2027, to regain compliance, during which its shares will continue to trade on The Nasdaq Capital Market. Failure to meet the requirement by the deadline could result in delisting, though an additional 180-day period may be granted under certain conditions.

SunCar Technology Group Inc. forecasts first half 2026 revenue between $271 million and $273 million, representing a 22% to 23% increase year-over-year. The company also expects quarter-over-quarter net income growth for Q2 2026, marking its fourth consecutive profitable quarter. SunCar reiterated its full-year 2026 revenue forecast of $600 million, driven by its insurance renewal product and expanding EV partnerships.

SunCar Technology Group Inc. reported its third consecutive quarter of profitability for Q1 2026, with net income reaching $1.6 million compared to a $3.6 million net loss in the prior year. Total revenue increased 28% year-over-year to $131.2 million, driven by strong growth in auto eInsurance (36%), technology services (43%), and auto services (16%). The company also saw EV insurance premiums grow 42.5% and secured major enterprise deals, while maintaining its AI partnership with ByteDance Doubao. SunCar expects full-year 2026 revenue to be approximately $600 million.

SunCar Technology Group Inc. announced preliminary unaudited estimates for the first quarter of 2026, forecasting a net income of $1 million. This marks the company's third consecutive profitable quarter, a significant improvement from a $3.6 million loss in Q1 2025. The company also expects Q1 2026 revenue to reach $128 million, representing a nearly 25% year-over-year increase.

SunCar Technology Group Inc. reported record annual revenue of $489.3 million for 2025, an 11% increase year-over-year, and achieved profitability in the second half of the year with profits of $1.4 million in Q3 and $1.7 million in Q4. Fourth quarter revenue grew 17% to $151.2 million. The company also announced a strategic AI partnership with ByteDance to leverage its multimodal AI for new product development and operations, and secured a significant $50 million, three-year concierge chauffeur contract with Agricultural Bank of China.

SunCar Technology Group Inc. has won a three-year contract, estimated at $50 million, to manage all concierge chauffeur services for the Agricultural Bank of China (AgBank). This agreement will consolidate AgBank's services across its Private Banking, Personal Banking, and Credit Card Center divisions onto SunCar's platform. The deal marks a significant breakthrough, demonstrating SunCar's capability to secure enterprise-wide contracts with major state-owned banks and reinforcing its leadership in providing chauffeur services to the banking sector.