Company: ZCARW
Filing Date: 2025-03-04
Form Type: S-1
Source: 0001213900-25-020176
Chunk: 113

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-04
Form: S-1
Chunk 113
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 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, and a further reduction of $0.23 million in IT platforms support costs as the Company continues to optimize usage of cloud-based IT services while enabling more in-app features for Guests and Hosts. Sales and Marketing

|               |     | 2024 |                     Three 
 months ended December 31, |     | 2023 |         |     | Change |          |   |     | %      
 Change |     |   |     | 2024 |                      Nine 
 months ended December 31, |     | 2023 |           |     | Change |            |   |     | %      
 Change |     |   |
|:--------------|:----|:-----|--------------------------:|:----|:-----|--------:|:----|:-------|:---------|:--|:----|:-------|----:|:--|:----|:-----|--------------------------:|:----|:-----|----------:|:----|:-------|:-----------|:--|:----|:-------|----:|:--|
| Sales         
 and marketing |     | $    |                   191,090 |     | $    | 962,652 |     | $      | (771,562 | ) |     |        | -80 | % |     | $    |                 1,208,431 |     | $    | 4,822,646 |     | $      | (3,614,215 | ) |     |        | -75 | % |

Sales and marketing expense totaled $0.19 million during the three months ended December 31, 2024, as compared to $0.96 million during the three months ended December 31, 2023, a decrease of $0.77 million, or 80%, primarily driven by a $0.56 million reduction in performance marketing expenses and $0.03 million reduction in brand marketing expenses incurred on brand visibility. Further there was a reduction of $0.04 million in Host incentives