Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 315

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 8
Chunk 315
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 $749,287  
    $1,261,101  
    $(511,814) 
     -41% 
    $2,385,988  
    $3,507,839  
    $(1,121,851) 
     -32%

Technology and development
expenses totaled $0.75 million during the three months ended December 31, 2024, as compared to $1.26 million during the three months ended
December 31, 2023, a decrease of $0.51 million, or 41%. This decrease was driven by employee benefit costs reductions of $0.52 million.

Technology and development
expenses totaled $2.39 million during the nine months ended December 31, 2024, as compared to $3.51 million during the nine months ended
December 31, 2023, a decrease of $1.12 million, or 32%. This decrease was driven by employee benefit costs reductions of $0.89 million,
and a further reduction of $0.23	 million in IT platforms support costs as the Company continues to optimize usage of cloud-based IT
services while enabling more in-app features for Guests and Hosts.

Sales and Marketing

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

    2024  
    2023  
    Change  
    % Change  
    2024  
    2023  
    Change  
    % Change 
  
    Sales and marketing 
    $191,090  
    $962,652  
    $(771,562) 
     -80% 
    $1,208,431  
    $4,822,646  
    $(3,614,215) 
     -75%

Sales and marketing expense
totaled $0.19 million during the three months ended December 31, 2024, as compared to $0.96 million during the three months ended December
31, 2023, a decrease of $0.77 million, or 80%, primarily driven by a $0.56 million reduction in performance marketing expenses and $0.03
million reduction in brand marketing expenses incurred on brand visibility. Further there was a reduction of $0.04 million in Host incentives
(this reflects the portion of the host incentives accounted for as sales and marketing expense during the three months ended December
31, 202