Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 1628

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 5
Chunk 1628
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,
    net of interest expense, and gains and losses on foreign currency transactions and balances;

    ●
    Adjusted EBITDA excludes
    certain recurring non-cash charges, such as depreciation of property and equipment and amortization of intangible assets; although
    these are non-cash charges, the assets being depreciated and amortized may need to be replaced in the future, and adjusted EBITDA
    does not reflect all cash requirements for such replacements or for new capital expenditure requirements;

    ●
    Adjusted EBITDA excludes
    stock-based compensation expense, which has been, and will continue to be for the foreseeable future, a recurring expense in our
    business and an important part of our compensation strategy: and

    ●
    Adjusted EBITDA excludes all finance charges.

Because of these limitations,
you should consider adjusted EBITDA alongside other financial performance measures, including net loss and our other GAAP results.

The following is a reconciliation
of adjusted EBITDA to the most comparable GAAP measure, Net (Loss) / Income:

    For the Years Ended 
March 31, 

    2025  
    2024 
  
    Net (Loss) 
    $(25,622,302) 
    $(34,277,252)
  
    Add/ (deduct) 

    SPAC transaction closing costs 
     -  
     7,061,350 
  
    Stock-based compensation 
     52,461  
     1,883,733 
  
    Depreciation and amortization 
     433,906  
     1,001,621 
  
    Finance costs 
     8,607,173  
     13,898,735 
  
    Finance costs to related parties 
     -  
     38,203 
  
    Other expense/(income), net 
     7,785,291  
     (11,316,471)
  
    Other income from related parties 
     -  
     (11,224)
  
    Gain on troubled debt restructuring 
     (1,171,161) 
     - 
  
    Impairment of balances with government authorities 
     -  
     3,875,767 
  
    Adjusted EBITDA 
    $(9,914,632) 
    $(17,845,538)

Liquidity and Capital Resources

During the year ended