Company: ZCARW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110391
Chunk: 295

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 295
---
V 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., Q3-22 = July 01 to September 30, 2022).

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

During the three months ended
September 30, 2025, Gross Booking Value on the platform totaled approximately $6.23 million, compared to approximately $6.12 million during
the three months ended September 30, 2024.

During the six months ended
September 30, 2025, Gross Booking Value on the platform totaled approximately $12.70 million, compared to approximately $12.35 million
during the six months ended September 30, 2024.

Components of results of operations

Net revenue

During the fiscal year ended
March 31, 2022, we began offering a peer-to-peer car sharing platform, which 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 those trips fulfilled
by Host vehicles. Prior to August 2021, vehicles 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 six months ended September 30, 2025, and September 30, 2024, consists of revenue from services and other operating revenue.

55

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 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