Company: ZCARW
Filing Date: 2025-05-12
Form Type: S-1/A
Source: 0001213900-25-041769
Chunk: 125

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-12
Form: S-1/A
Chunk 125
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 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. 70 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, cash equivalents, restricted cash and investments, net of interest 
 expense, and gains and losses on foreign currency transactions and balances;                                                            |

| ● | Adjusted EBITDA excludes certain recurring non-cash charges, such as depreciation of property and equipment and amortization of intangible assets; although these are non-cash charges, the assets being depreciated and amortized may need to be replaced in the future, and adjusted EBITDA does not reflect all cash requirements for such replacements or for new capital expenditure requirements; |

| ● | Adjusted EBITDA excludes stock-based compensation expense, which has been, and will continue to be for the foreseeable future, a recurring expense in our business