Company: ZCARW
Filing Date: 2025-05-12
Form Type: S-1/A
Source: 0001213900-25-041769
Chunk: 128

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-12
Form: S-1/A
Chunk 128
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 |     | $ | (830,643 | ) |     |     |    -16 | % |

Technology and development expenses totaled $4.35 million during the year ended March 31, 2024, as compared to $5.18 million during the year ended March 31, 2023, a decrease of $0.83 million, or 16%. This decrease was driven by employee benefit costs reductions of $0.55 million (including $0.18 million of additional ESOP charges during the year ended March 31, 2023), and a further reduction of $0.28 million in IT platforms support costs as the Company continues to optimize usage of cloud based IT services while enabling more in-app features for Guests and Hosts. Sales and Marketing

|                     |     | For the Years Ended March 31, |      2024 |     |   |      2023 |     |   | Change   |   |     |     |      % 
 Change |   |
|:--------------------|:----|:------------------------------|----------:|:----|:--|----------:|:----|:--|:---------|:--|:----|:----|-------:|:--|
| Sales and marketing |     | $                             | 5,767,036 |     | $ | 6,734,205 |     | $ | (967,169 | ) |     |     |    -14 | % |

Sales and marketing expense totaled $5.77 million during the year ended March 31, 2024, as compared to $6.73 million during the year ended March 31, 2023, a decrease of $0.97 million, or 14%, primarily driven by a $1.27 million reduction in Host incentives (this reflects the portion of the host incentives are accounted for as sales and marketing expense), $0.66 million reduction in performance marketing expenses, and $0.47 million optimization in referral bonuses paid to existing Hosts for referring new Hosts during the year ended March 31, 2024 as compared to the year ended March 31, 2023. Personnel related costs decreased by $0.38 million due to reductions in headcount. These cost reductions above were partially offset by an increase of brand marketing expenditures by $1.81 million (centered on the Indian Premier League season during the April to June 2023 time period), which impacted the year ended March 31, 202