Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 904

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 2
Chunk 904
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 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. 

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;

65

    ●
    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 and an important part of our compensation strategy: and

    ●
    Adjusted EBITDA excludes all finance charges.

Because of these limitations,
you should consider adjusted EBITDA alongside other financial performance measures, including net loss and our other GAAP results.

The following is a reconciliation
of adjusted EBITDA to the most comparable GAAP measure, Net (Loss) / Income:

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

    2024  
    2023  
    2024  
    2023 
  
    Net (Loss) / Income 
    $(7,922,063) 
    $14,