Earnings Announcement and Webinar - Zoomcar Holdings Inc plans to report its financial and operating results for the third quarter ending December 31 2024 before markets open on February 14 2025 [1] - The company will host a live Zoom Webinar at 8 00 am Eastern Time on February 14 2025 to discuss financial results and provide corporate updates [2] - A replay of the webinar along with the earnings press release will be available on the company's investor relations website [2] - Investors and analysts can submit questions to management by email by 10 00 am ET on February 10 2025 [3] Company Overview - Zoomcar is a leading marketplace for car sharing focused in India founded in 2013 and headquartered in Bengaluru [4] - The company connects Hosts with Guests who choose from a selection of cars for use at affordable prices promoting sustainable smart transportation solutions in India [4]

Group 1 - Zoomcar Holdings, Inc. is a leading marketplace for self-drive car sharing, listed on NASDAQ under the ticker ZCAR [1][3] - The CEO, Hiroshi Nishijima, will present a corporate overview at the Dealflow Events MicroCap Conference 2025, scheduled from January 28 to 30, 2025 [1][2] - The presentation will take place on January 30 at 9:30 AM ET, with opportunities for one-on-one meetings with registered investors [2] Group 2 - Zoomcar was founded in 2013 and is headquartered in Bengaluru, India, focusing on car sharing solutions [3] - The platform connects Hosts with Guests, offering a selection of cars at affordable prices, promoting sustainable transportation in India [3]

Core Insights - Zoomcar Holdings, Inc. achieved its highest-ever unaudited contribution profit of $494,506 in December 2024, covering operational costs in India, indicating strong operational performance and commitment to sustainable growth [1][2] - There was a 17% increase in bookings in December 2024 compared to December 2023, reflecting growing consumer demand and the appeal of Zoomcar's platform [2] - The company reported a significant financial turnaround, with a contribution profit of $0.46 million (20%) in the first fiscal quarter of 2024-25, up from a loss of $1.2 million (-45%) in the same quarter of the previous year [5] - In the second fiscal quarter of 2024-25, Zoomcar recorded a contribution profit of $1.21 million (54% of revenue), a notable improvement from a loss of $0.12 million (-5%) in the prior year [5] Financial Performance - December 2024 marked a record monthly contribution profit, continuing a trend of four consecutive quarters of improvement in contribution profits [5] - The company emphasizes a focus on customer experience, which has driven repeat bookings and strengthened host retention while minimizing marketing expenses [2] - The financial results are based on provisional estimates and are subject to revision until the full financial results for the third quarter of the fiscal year 2024-2025 are reported [3]

Company Overview - Zoomcar is a leading car-sharing marketplace in India, founded in 2013 and headquartered in Bengaluru, focusing on connecting Hosts with Guests for affordable car rentals [6] Website Enhancements - The company has upgraded its website to cater to a broader audience, integrating new sections for offers, curated car lists, and guest stories, along with city pages to enhance the booking experience [1] - The website features a fresh design, updated color scheme, and a cleaner homepage for improved navigation [1] Growth and Performance - Zoomcar reported a remarkable 43% year-on-year growth in bookings for November, primarily driven by increased demand during the wedding season, which has been one of the strongest in recent years [4] - The company has consistently reported significant profitability improvements over the last two quarterly reports, aligning its services with customer feedback to enhance the travel experience [5] Strategic Focus - The CEO emphasized the company's commitment to providing hassle-free travel experiences and the importance of evolving to meet customer needs [2] - Zoomcar aims to broaden and diversify its booking channels to capture greater market potential, especially with the upcoming holiday season [4]

BENGALURU, India, Dec. 20, 2024 /PRNewswire/ -- Zoomcar Holdings, Inc. ("Zoomcar" or the "Company") (NASDAQ: ZCAR), India's leading car-sharing marketplace, has announced the launch of Zoomcar Cabs, as a pilot in Bengaluru, that provides commercial cars with professional drivers at the best prices. Expanding beyond its successful self-drive offerings, this expansion into chauffeur-driven services marks Zoomcar's commitment to diversifying its offerings and enhancing customer experiences.Zoomcar Cabs stems f ...

BANGALORE, India, Nov. 19, 2024 /PRNewswire/ -- Zoomcar Holdings, Inc. ("Zoomcar" or the "Company") (NASDAQ: ZCAR), the leading marketplace for car sharing in India, is excited to introduce Zoomcar Subscription, a new service designed to provide affordable long-term car sharing options. Through this offering, Guests can now book self-drive cars for extended periods, starting with minimum 7 days to more than 30 days, benefiting from progressively lower daily rates for longer durations.Zoomcar currently opera ...

BANGALORE, India, Nov. 14, 2024 /PRNewswire/ -- Zoomcar Holdings, Inc. (NASDAQ: ZCAR) ('Zoomcar,' or 'we,' or 'our'), the leading marketplace for car sharing in India, today announced results for its second quarter ended September 30, 2024.Hiroshi Nishijima, CEO of Zoomcar stated, "By making customer experience our top priority, we've been able to organically boost guest repeat bookings and improve host retention. This focus has allowed us to optimize costs, particularly in marketing spend, cash incentives, ...

Financial Position - Total current assets decreased from $5,059,696 to $2,639,787, a decline of approximately 48%[20] - Cash and cash equivalents dropped from $1,496,144 to $614,206, representing a decrease of about 59%[20] - Current liabilities increased from $31,296,055 to $37,655,737, an increase of approximately 20%[20] - Total liabilities decreased from $42,864,786 to $38,948,254, a reduction of about 9%[20] - The accumulated deficit grew from $(307,551,501) to $(313,435,055), an increase of approximately 2%[20] - The company reported a total stockholders' deficit of $(32,758,818) as of September 30, 2024, compared to $(33,692,188) on March 31, 2024[20] - The company has negative working capital of $35,015,950 as of September 30, 2024, raising substantial doubt about its ability to continue as a going concern[35] - As of September 30, 2024, total equity deficit stands at $(32,758,818) with accumulated deficit of $(313,435,055)[24] Revenue and Expenses - Total revenue for the three months ended September 30, 2024, was $2,246,897, a decrease of 16.2% compared to $2,681,008 for the same period in 2023[21] - Net loss attributable to common stockholders for the three months ended September 30, 2024, was $(3,351,975), compared to $(12,402,287) for the same period in 2023[22] - Total costs and expenses for the six months ended September 30, 2024, were $9,434,701, down from $17,097,303 for the same period in 2023, representing a reduction of 44.5%[21] - The company reported a loss from operations before income tax of $(1,572,251) for the three months ended September 30, 2024, compared to $(4,298,695) for the same period in 2023[21] - Comprehensive loss for the three months ended September 30, 2024, was $(3,316,834), compared to $(12,346,404) for the same period in 2023[22] - Cost of revenue for the three months ended September 30, 2024, was $1,213,422, a significant decrease from $2,737,486 for the same period in 2023[21] - Technology and development expenses for the three months ended September 30, 2024, were $734,920, down from $919,859 for the same period in 2023[21] Cash Flow - Cash used in operating activities for the six months ended September 30, 2024, was $2,496,568, down from $10,214,140 in the prior year, reflecting a decrease of about 75.5%[25] - The company reported a net cash generated from investing activities of $384,825 for the six months ended September 30, 2024, compared to a net cash used of $73,180 in the same period of 2023[25] - The company had a cash position of $614,206 at the end of the period, a decrease from $3,846,543 at the beginning of the period, representing a decline of approximately 84%[26] Shareholder Information - The company has 757,494 shares issued and outstanding as of September 30, 2024, up from 631,859 shares on March 31, 2024[20] - Additional paid-in capital increased from $272,063,258 to $276,854,023, an increase of approximately 2.9%[20] - The weighted average shares used in computing loss per share for the three months ended September 30, 2024, were 756,980, compared to 4,828 for the same period in 2023[21] - The company issued common stock upon conversion of unsecured convertible notes amounting to $2,324,683 during the reporting period[26] Debt and Liabilities - The company has a current portion of long-term debt of $3,663,830, down from $5,049,483, a decrease of about 27%[20] - The company has defaulted on equated monthly installments (EMI) payments totaling $5,804,548, which includes $1,781,841 of defaulted lease rentals, as of September 30, 2024[154] - The company has defaulted on all debt obligations totaling $1,577,289 owed to various lenders[168] - The outstanding balance of the redeemable promissory note was $3,750,000 as of September 30, 2024, including $150,000 interest accrued[174] Operational Changes - The Company has closed down operations for PT Zoomcar Indonesia Mobility Services and Zoomcar Egypt Car Rental LLC due to decreased bookings and rising economic difficulties[53] - The company has not paid any incentives to hosts during the three and six months ended September 30, 2024, as part of its marketing strategy[62] - The company has entered into negotiations with lenders to restructure payment terms and resolve outstanding claims[168] Accounting and Reporting - The Company has determined it has one operating and reportable segment, with financial information reviewed on a consolidated basis[111] - The company is evaluating the potential effects of new accounting standards updates issued by the FASB, with no immediate material impact expected on financial statements[116] - The company has classified its debt into current and non-current obligations based on payment terms, with non-current obligations maturing beyond twelve months[80] Miscellaneous - The company recorded a gain on employee benefit of 19,604, net of taxes[24] - The company recorded a net gain of $236,447 during the three months ended September 30, 2024, due to negotiations with vendors resulting in short-term deferrals or reductions in outstanding liabilities[163] - The company recognized a loss of $390,218 and a gain of $970,020 for the three months and six months ended September 30, 2024, due to changes in the fair value of the Atalaya Note[186]

Core Viewpoint - Zoomcar Holdings, Inc. has successfully closed a private placement with institutional investors, raising a total of $9.15 million, which will be used to repay debt and for general corporate purposes [1][2]. Group 1: Private Placement Details - The private placement resulted in the issuance of 2,137,850 units at an effective price of $4.28 per unit, each unit consisting of one share of common stock (or one pre-funded warrant), two Series A warrants, and one Series B warrant [2]. - The Series A warrants are exercisable for up to 4,275,700 shares of common stock at an initial exercise price of $4.03 per share, with a term of 5 years [2]. - The Series B warrants have an exercise price of $0.0001 and are subject to adjustments based on future dilutive issuances and reverse stock splits [2]. Group 2: Use of Proceeds - The net proceeds from the private placement will be utilized to repay approximately $3.8 million of outstanding indebtedness and the remainder will be allocated for general corporate purposes and working capital [1]. Group 3: Regulatory and Compliance Information - Aegis Capital Corp. acted as the Exclusive Placement Agent for the private placement, which was conducted under exemptions from the registration requirements of the Securities Act of 1933 [3]. - The company has agreed to file registration statements with the SEC covering the resale of the common stock sold in the private placement and the common stock issuable upon exercise of the warrants [3]. Group 4: Company Overview - Zoomcar, founded in 2013 and headquartered in Bengaluru, India, is a leading marketplace for self-drive car sharing, connecting Hosts with Guests for affordable car rental options [5].

BANGALORE, India, Nov. 6, 2024 /PRNewswire/ -- Zoomcar Holdings, Inc. ("Zoomcar" or the "Company") (NASDAQ: ZCAR), the Nasdaq-listed leading marketplace for self-drive car sharing, today announced the pricing of a private placement with certain institutional investors. The aggregate gross cash proceeds are expected to be $9.15 million, before deducting fees to the placement agent and other offering expenses payable by the Company. The Company intends to use the net proceeds from the private placement to rep ...