Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 1022

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 2
Chunk 1022
---
 same manner as our management team, as it represents a standardized
unit of transaction volume on our platform in any given time period.

    (1)
    Refers to calendar quarters
    (i.e., Q2-21 = April 01 to June 30, 2021).

For the year ended March 31, 2025, Booking Days on the platform totaled
approximately 678,708 , compared to 669,454 during the year ended March 31, 2024.

Gross Booking Value

We define the Gross Booking
Value, or GBV, as the total dollar value of Booking Days booked on our platform, including upfront booking fee (less discounts and credits),
value-added fees (i.e., trip protection fees), Guest and Host platform fees, and other charges. GBV includes applicable pass-through
taxes and other fees required to be remitted to local authorities, which are excluded from net revenue. GBV is driven by the number of
Booking Days and related trip pricing. Revenue from bookings is recognized ratably over the duration of the trip; accordingly, we consider
GBV a “leading indicator” of revenue.

    (1)
    Refers to calendar quarters
    (i.e., Q2-21 = April 01 to June 30, 2021).

    (2)
    Booking Days and GBV for
    bookings ended, excludes cancelled bookings.

During the year ended March 31, 2025, Gross Booking Value on the platform
totaled approximately $25.28 million, compared to approximately $26.72 million during the year ended March 31, 2024.

66

Components of results of operations

Net revenue

Our peer-to-peer car sharing platform, enables Hosts to connect with
Guests. We act as an agent under this model and thus, our primary source of revenue is recording revenue from services (on a net basis)
for trips fulfilled by Host vehicles.

Our revenue for the year
ended March 31, 2025, and March 31, 2024, consists of revenue from services and other operating revenue. 

Revenue from Services

Support and facilitation
services offered by the Company include services like assistance in execution of a lease agreement, payment facilitation, vehicle delivery,
on-road assistance, prospective renter diligence and vehicle usage/location tracking (in cases of loss or theft).

Revenue from services consists
of our share of GBV. The fees that are components of GBV are charged