Company: SDAWW
Filing Date: 2025-10-27
Form Type: 6-K
Source: 0001213900-25-102611
Chunk: 8

Company: SunCar Technology Group Inc.
Filing Date: 2025-10-27
Form: 6-K
Chunk 8
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 service providers and bears credit risk. The Group recognizes revenue in the gross amount of consideration at a point of time when the service is provided, or when the service coupon expires. The Group does not provide refunds to customers when a coupon has expired but not used.

The Group’s revenues are disaggregated by timing of revenue recognition as follows:

|                                       |     | For the six months ended 
 June 30,                 |    2024 |     |   |    2025 |
|:--------------------------------------|:----|:-------------------------|--------:|:----|:--|--------:|
| Revenue recognized at a point of time |     | $                        | 181,198 |     | $ | 197,964 |
| Revenue recognized over time          |     |                          |  21,888 |     |   |  24,345 |
| Revenues                              |     | $                        | 203,086 |     | $ | 222,309 |

Contract Balances

Timing of revenue recognition may differ from the timing of invoicing to customers. Accounts receivable represent revenue recognized for the amounts invoiced and/or prior to invoicing when the Group has satisfied its performance obligation and has an unconditional right to the payment. Contract assets represent the Group’s right to consideration in exchange for goods or services that the Group has transferred to a customer. The Group has nocontract assets as of December 31, 2024 and June 30, 2025.

The contract liabilities consist of deferred revenue, which represents the billings or cash received for services in advance of revenue recognition and is recognized as revenue the performance obligation is satisfied. The Group’s deferred revenue amounted to $ 2,421and $ 2,142as of December 31, 2024 and June 30, 2025, respectively. During the six months ended June 30, 2024 and 2025, the Group recognized $ 3,050and $ 2,026that was included in deferred revenue balance at January 1, 2024 and 2025, respectively.

F-10 SUNCAR TECHNOLOGY GROUP INC NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (In U.S. Dollar thousands, except share and per share data)

| (g). | Share-based compensation |

The Group grants restricted share units (“RSUs”) of the Company and its subsidiary, SunCar Online, to eligible employees and management. The Group accounts for share-based awards