Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 84

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 84
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 available on our platform consisted solely of Company-owned or leased vehicles that we
offered for short-term rental or longer-term subscription.

Our revenue for the three
and nine months ended December 31, 2024, and December 31, 2023, 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).

55

Revenue from services consists
of our share of GBV. The fees that are components of GBV are charged as a percentage of the value of certain components of the gross booking
value, excluding taxes. Our revenue from services consists of our share of the service fees charged to the Hosts, net of incentives and
refunds. We collect these fees from the Guest and share a portion of the booking fee and trip extension with the Host post recovery of
our share of facilitation revenue. Daily we, or our third-party payment processors, disburse a portion of the GBV to the Hosts, less the
fees due from the Host to us. The amounts charged for the booking fee vary based on factors such as the vehicle type, the day of the week,
time of the trip, and the duration of the trip. Revenue is recognized ratably over the trip period as we satisfy our performance obligations.

We also require our Guests to choose one of the three trip protection
options. A per-trip amount (included in the booking fee) is charged for trip protection, which is collected upon the booking. We recognize
revenue from trip protection charges over the trip completion period.

Recorded revenue from services
is reduced by the portion of those incentives and credits paid to our Hosts and Guests that cannot be directly attributable to distinct
services performed by the Hosts and Guests. These incentives are treated as contra-revenue and reduce our net Revenue recorded in each
period. Those incentive costs that can be attributed to a distinct service (e.g., referral bonuses paid to referrer) are included in sale
and marketing expenses.

Others

We exclude from revenue the
taxes assessed by governmental authorities that are imposed on specific revenue- producing transactions and collected from customers/subscribers.

Cost of Revenue

Cost of revenue primarily
consists of, (1) personnel-related compensation costs of local operations teams and teams that provide phone, email and