Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 304

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 8
Chunk 304
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” are intended to refer to
(i) following the Business Combination, the business and operations of Zoomcar Holdings, Inc. and its consolidated subsidiaries, and (ii)
prior to the Business Combination, Zoomcar, Inc. (the predecessor entity in existence prior to the consummation of the Business Combination)
and its consolidated subsidiaries.

Overview

During our fiscal year ended
March 31, 2022, Zoomcar’s business model shifted from a prior business model, in which we owned and leased vehicles to our customers,
to our current online peer-to-peer car sharing platform which connects Hosts (car owners) with Guests (persons in temporary need of vehicles).
Although our platform technology was already under development for several years prior to this transition and we began on-boarding Hosts
to our platform before the transition was complete, until our business model changed, most of our revenue was derived from what we refer
to as “short-term car rentals” and “vehicle subscriptions,” whereas, beginning in December 2021, a shift in our
business model occurred in connection with which “facilitation revenues” generated from bookings on our marketplace platform
began to represent an increasing proportion of our total revenues.

As of February 10,
2025, we had 7,846,450 shares of our Common Stock issued and outstanding. Except as otherwise indicated, all share and per share
information in this report gives effect to a reverse stock split effected on October 21, 2024, at a ratio of 1-for-100.

Standard Booking Flow

During the nine months ended
December 31, 2024, we operated a peer-to-peer car sharing platform in emerging markets across three countries and generated revenues from
bookings by our Guests of vehicles listed on our Zoomcar platform by our Hosts. Zoomcar receives a portion of the associated booking fee
charged to the Guest (less any credits or discounts applied), as well as platform fees charged to Guests and Hosts and trip protection
fees (which we refer to as “value-added fees”) charged to Guests. As further described below, other fees charged to Guests,
such as fuel charges, are paid fully to Hosts, who also receive a revenue share equal to approximately 60% of booking fees and between
0% and 40% of certain other charges. We use our customized algorithm to price trips dynamically on the platform, leveraging our data from
the millions of miles driven on our platform to intelligently price the risks of trips and the