Company: ZCARW
Filing Date: 2025-05-12
Form Type: S-1/A
Source: 0001213900-25-041769
Chunk: 126

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-12
Form: S-1/A
Chunk 126
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17 | % |
| Net Revenue            |     |                               | 9,897,233 |     |   | 8,826,206 |     |   | 1,071,027 |   |     |     |     12 | % |

Our total net revenue for the years ended on March 31, 2024, and March 31, 2023 was $9.90 million and $8.83 million, respectively, representing an increase of $1.07 million, or 12%. Total number of Bookings, Booking Days and GBV declined by 23%, 18% and 19%, respectively, in the year ended March 31, 2024 versus the previous comparable period, however, our GAAP net revenue increased 12% in the same year as the total incentive payments treated as contra-revenue during the year ended March 31, 2023 was $3.85 million versus $0.88 million during the year ended March 31, 2024. During the year ended March 31, 2023, we provided higher cash incentives for our Hosts and Guests to increase our available supply of cars and attract Guests to use our platform which reduced revenue. These various strategies were targeted towards making a successful transition to the peer-to-peer sharing model. After the transition to the peer-to-peer sharing model, we took several measures to improve profitability, such as (i) reduction of cash incentives paid to Hosts and (ii) introduction of penalties for Host and Guest on cancellation of booking. These and other cost rationalization strategies resulted in improved unit profitability at the expense of reducing booking days growth, resulting in lower Booking Days and GBV for the year ended on March 31, 2024 versus the year ended March 31, 2023. 72 Costs and Expenses

|                                                    |     | For the Years Ended March 31, |       2024 |     |   |       2023 |     |   |      Change |   |     |     |      % 
 Change |   |
|:---------------------------------------------------|:----|:------------------------------|-----------:|:----|:--|-----------:|:----|:--|------------:|:--|:----|:----|-------:|:--|
| Cost of revenue                                    |     | $                             | 10,331,595 |     | $ | 20,675,611 |     | $ | (10,344,016 | )