Company: ZCARW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076590
Chunk: 62

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 62
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 define “Booking
Days” as total days (24 hours measured in minutes) that a vehicle is booked by Guests on our platform in a given period, for trips
ended, net of total days relating to cancelled bookings in that period. We believe Booking Days is a key business metric to help investors
and others understand and evaluate our results of operations in the same manner as our management team, as it represents a standardized
unit of transaction volume on our platform in any given time period.

(1)Refers
to calendar quarters (i.e., Q2-21 = April 01 to June 30, 2021).

For the three months ended
June 30, 2025, Booking Days on the platform totaled approximately 190,931, compared to 170,125 during the three months ended June 30,
2024.

44

Gross Booking Value

We define the Gross Booking
Value, or GBV, as the total dollar value of Booking Days booked on our platform, including upfront booking fee (less discounts and credits),
value-added fees (i.e., trip protection fees), Guest and Host platform fees, and other charges. GBV includes applicable pass-through taxes
and other fees required to be remitted to local authorities, which are excluded from net revenue. GBV is driven by the number of Booking
Days and related trip pricing. Revenue from bookings is recognized ratably over the duration of the trip; accordingly, we consider GBV
a “leading indicator” of revenue.

(1)Refers
to calendar quarters (i.e., Q2-21 = April 01 to June 30, 2021).

(2)Booking
Days and GBV for bookings ended, excludes cancelled bookings.

During the three months ended
June 30, 2025, Gross Booking Value on the platform totaled approximately $6.47 million, compared to approximately $6.23 million during
the three months ended June 30, 2024.

Components of results of operations

Net revenue

During the fiscal year ended
March 31, 2022, we began offering a peer-to-peer car sharing platform, which enables Hosts to connect with Guests. We act as an agent
under this model and thus, our primary source of revenue is recording revenue from services (on a net basis) for those trips fulfilled
by Host vehicles. Prior to August 2021, vehicles available on our platform consisted solely of Company-owned or leased vehicles that we
offered for short