Company: ZCARW
Filing Date: 2025-03-04
Form Type: S-1
Source: 0001213900-25-020176
Chunk: 123

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-04
Form: S-1
Chunk 123
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      |           43 | % |     |      |        -14 | % |

Adjusted EBITDA is a non-GAAP financial measure that represents our net income or loss adjusted for (i) provision for income taxes; (ii) other income and (expense), net; (iii) depreciation and amortization; (iv) stock-based compensation expense; and (v) finance costs. 66 We use adjusted EBITDA in conjunction with net income or loss, its corresponding GAAP measure, as a performance measure that we use to assess our operating performance and operating leverage in our business. The above items are excluded from our adjusted EBITDA measure because these items are non-cash in nature, or because the amount and timing of these items is unpredictable, or they are not driven by core results of operations, thereby rendering comparisons with prior periods and competitors less meaningful. We believe that adjusted EBITDA provides useful information to investors and others in understanding and evaluating the results of our operations, as well as provides a useful measure for period-to-period comparisons of our business performance. Moreover, we have included adjusted EBITDA because it is a key measurement used by our management internally to make operating decisions, including those related to analyzing operating expenses, evaluating performance, and performing strategic planning and annual budgeting. Our adjusted EBITDA loss has reduced to $3.15 million during the three months ended December 31, 2024, as compared to an adjusted EBITDA loss of $10.17 million during the three months ended December 31, 2023. Our adjusted EBITDA loss has reduced to $7.88 million during the nine months ended December 31, 2024, as compared to an adjusted EBITDA loss of $20.84 million during the nine months ended December 31, 2023. This improvement is a result of broad-based cost reduction and optimization initiatives that reduced our cost of revenue, technology and development costs, sales and marketing costs, and general and administrative costs (as described above) during the three and nine months ended December 31, 2024, as compared to the same period in 2023. Adjusted EBITDA has limitations as a financial measure, should be considered as supplemental in nature, and is not meant as a substitute for the related financial information prepared in accordance with GAAP. These limitations include the following:

| ● | Adjusted EBITDA does not reflect                                                                                                        
 other (income)/expense, net, which includes interest income on cash,