Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 891

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 2
Chunk 891
---
     -  
     41,942  
     100%
  
    Net Revenue 
     2,449,368  
     2,421,438  
    $27,930  
        
     6,937,250  
     7,717,064  
    $(779,814) 

Our total net revenue for
the three months ended on December 31, 2024, and December 31, 2023, was $2.45 million and $2.42 million, respectively, representing a
decline of $0.03 million, or 1.15%. While the total number of Bookings and booking Days increased by 19% and 11% respectively, GBV declined
marginally by 0.02% during the three months ended December 31, 2024, versus the previous comparable period.

Our total net revenue for
the nine months ended on December 31, 2024, and December 31, 2023, was $6.94 million and $7.72 million, respectively, representing a decline
of $0.78 million, or 10%. While the total number of Bookings and Booking Days increased by 11% and 0.02% respectively, GBV declined by
8%, during the nine months ended December 31, 2024, versus the previous comparable period.

In the peer-to-peer car sharing
model, we continued to take several measures to improve profitability, such as (i) reduction of cash incentives paid to Hosts and (ii)
introduction of cancellation fees for Guest. These and other cost rationalization strategies resulted in improved unit profitability at
the expense of lower or negligible growth in GBV and Net revenue for the three and nine months ended on December 31, 2024, compared to
the same period in 2023.

58

Costs and Expenses

Cost of Revenue 

    Three months ended December 31,  
    Nine months ended December 31, 

    2024  
    2023  
    Change  
    % Change  
    2024  
    2023  
    Change  
    % Change 
  
    Cost of revenue 
    $1,499,282  
    $2,093,057  
    $(593,775) 
     -28% 
    $4,224,993