Company: SDAWW
Filing Date: 2025-10-27
Form Type: 6-K
Source: 0001213900-25-102611
Chunk: 42

Company: SunCar Technology Group Inc.
Filing Date: 2025-10-27
Form: 6-K
Chunk 42
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30, 2025. The increase was primarily due to higher promotion expenses of US$0.6 million for our IT services, supporting the growth of technology service revenue, and an additional US$0.2 million related to market expansion. General and administrative expenses.General and administrative expenses decreased by 63% from US$40.5 million for the six months ended June 30, 2024 to US$15.2 million for the six months ended June 30, 2025, primarily due to the decrease of US$31.0 million in share-based compensation expense related to 2024 Equity Incentive Plan. Research and development expenses.Research and development expenses decreased by 95% from US$32.2 million for the six months ended June 30, 2024 to US$1.8 million for the six months ended June 30, 2025, primarily due to decrease of US$31.0 million in relation to 2024 Equity Incentive Plan. Net loss and Adjusted EBITDA.Net loss decreased by US$54.6 million, to US$5.5 million for the six months ended June 30, 2025. Adjusted EBITDA decreased by US$3.5 million, to US$2.5 million for the six months ended June 30, 2025. See our reconciliation of net loss to Adjusted EBITDA within the section titled “Non-GAAP Financial Measures”. Non-GAAP Financial Measures In addition to our results being determined in accordance with GAAP, the Company’s management believes that Adjusted EBITDA, which is a non-GAAP measure that excludes certain non-recurring items such as costs and expenses related to capital raises, is useful in evaluating our operational performance. The Company uses this non-GAAP financial information to evaluate our ongoing operations and for internal planning, budgeting and forecasting purposes. We believe that this non-GAAP financial information, when taken collectively with GAAP measures, may be helpful to investors in assessing our operating performance and comparing our performance with competitors and other comparable companies, which may or may not present similar non-GAAP financial measures to investors. Our computation of these non-GAAP measures may not be comparable to other similarly titled measures computed by other companies, because all companies may not calculate these measures in the same fashion. We endeavor to compensate for the limitation of the non-GAAP measure presented by also providing the most directly comparable GAAP measure and a description of the reconciling items and adjustments to