Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 900

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 2
Chunk 900
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 and may be different from similarly titled non-GAAP financial
measures used by other companies. Because of these limitations, we consider, and you should consider, our non-GAAP financial measures
alongside other financial performance measures presented in accordance with GAAP. A reconciliation of each non-GAAP financial measure
to the most directly comparable financial measure stated in accordance with GAAP is provided below. Investors are encouraged to review
the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP
financial measures. 

The following table summarizes our non-GAAP financial measures, along
with the most directly comparable GAAP measure, for each period presented below.

    Three months ended December 31,  
    Nine months ended December 31, 

    2024  
    2023  
    2024  
    2023 
  
    Gross profit/(loss) 
    $950,086  
    $328,381  
    $2,712,257  
    $(724,461)
  
    Gross margin 
     39% 
     14% 
     39% 
     -9%
  
    Contribution profit/(loss) 
     1,283,994  
     208,873  
     2,950,921  
     (1,080,363)
  
    Contribution margin 
     52% 
     9% 
     43% 
     -14%
  
    Net (loss) income 
     (7,922,063) 
     14,425,439  
     (13,805,617) 
     (26,757,978)
  
    Adjusted EBITDA 
     (3,147,158) 
     (10,168,346) 
     (7,878,841) 
     (20,841,509)

63

Contribution Profit (Loss) and Contribution Margin

We define contribution profit
(loss) as our gross profit (loss) plus (a) depreciation expense included in cost of revenue, (b) stock-based compensation expense included
in cost of revenue, (c) other general costs included in cost of revenue (rent, software support, insurance, travel); less (i) Host incentive
payments and (ii) marketing and promotional expenses (excluding brand marketing).

We use contribution profit
(loss) and contribution margin as