Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 138

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 138
---
 were significantly reduced to $0.62 million during the nine months ended December 31, 2024,
versus $2.10 million during the same period in 2023, which further contributed to the Company achieving contribution profit as compared
to contribution loss in the previous comparable period.

<div align='center'>71</div>

Contribution profit (loss)
and contribution margin are non-GAAP financial measures with certain limitations regarding their usefulness; they should be considered
as supplemental in nature and are not meant as substitutes for gross profit /(loss) and gross margin, which are measures prepared in accordance
with GAAP. For purposes of calculating the non-GAAP financial measures, we utilize the GAAP financial measure of gross profit (loss),
which is defined as revenue minus cost of revenue, each of which is presented in our unaudited condensed consolidated statements of operations.
Our definitions of contribution profit (loss) and contribution margin may differ from the definitions used by other companies in our industry
and, therefore, comparability may be limited. In addition, other companies may not publish these or other similar metrics. Further, our
definition of contribution profit (loss) does not include the impact of certain expenses that are reflected in our unaudited condensed
consolidated statements of operations. Thus, our contribution profit (loss) should be considered in addition to, not as a substitute for
or in isolation from, gross profit (loss) prepared in accordance with GAAP.

The following tables present
reconciliations of gross profit/(loss) to contribution profit/(loss) and gross margin to contribution margin for each of the periods indicated:

Contribution Profit/(Loss)

|                                                                        |     | 2024 | Three months ended 
       December 31, |   |     | 2023 |           |   |     | 2024 | Nine months ended 
      December 31, |   |     | 2023 |            |   |
|:-----------------------------------------------------------------------|:----|:-----|-------------------:|:--|:----|:-----|----------:|:--|:----|:-----|------------------:|:--|:----|:-----|-----------:|:--|
| Net revenue                                                            |     | $    |          2,449,368 |   |     | $    | 2,421,438 |   |     | $    |         6,937,250 |   |     | $    |  7,717,