Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 151

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 151
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 measure of gross profit (loss),
which is defined as revenue minus cost of revenue, each of which is presented in our 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 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 loss to contribution loss and gross margin to contribution margin for each of the periods indicated:

Contribution Loss

|                                                                                    |     | For the Years Ended 
 March 31,           |       2024 |    |     |   |        2023 |    |
|:-----------------------------------------------------------------------------------|:----|:--------------------|-----------:|:---|:----|:--|------------:|:---|
| Net revenue                                                                        |     | $                   |  9,897,233 |    |     | $ |   8,826,206 |    |
| Cost of revenue                                                                    |     | $                   | 10,331,595 |    |     | $ |  20,675,611 |    |
| Gross loss                                                                         |     | $                   |   (434,362 | )  |     | $ | (11,849,405 | )  |
| Gross margin %                                                                     |     |                     |      (4.39 | )% |     |   |      (134.3 | )% |
| Add: Depreciation and amortization in cost of revenue                              |     | $                   |    828,111 |    |     | $ |     337,010 |    |
| Add: Stock-based compensation in cost of revenue                                   |     | $                   |    134,883 |    |     | $ |     575,662 |    |
| Add: Overhead costs in cost of revenue (rent, software support, insurance, travel) |     | $                   |  1,218,583 |    |     | $ |   1,840,149 |    |
| Less: Host incentives and Marketing costs (excl.