Company: ZCARW
Filing Date: 2025-05-12
Form Type: S-1/A
Source: 0001213900-25-041769
Chunk: 116

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-12
Form: S-1/A
Chunk 116
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, owing to the higher spending on brand marketing which brought more customers on the platform, increased searches without any material impact on booking. Further, there were cost savings of $0.40 million on account of depreciation on tracking devices during the nine months ended December 31, 2024, as compared to nine months ended December 31, 2023, since these devices were completely depreciated in the previous Fiscal year ending March 31, 2024. Technology and Development

|                            |     | 2024 | Three months ended December 31, |     | 2023 |           |     | Change |          |   |     | %      
 Change |     |   |     | 2024 | Nine months ended December 31, |     | 2023 |           |     | Change |            |   |     | %      
 Change |     |   |
|:---------------------------|:----|:-----|--------------------------------:|:----|:-----|----------:|:----|:-------|:---------|:--|:----|:-------|----:|:--|:----|:-----|-------------------------------:|:----|:-----|----------:|:----|:-------|:-----------|:--|:----|:-------|----:|:--|
| Technology and development |     | $    |                         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