Zoomcar Delivers Eighth Consecutive Quarter of Positive Contribution Profit; Net Loss Narrows by 76% Year-over-Year

Rhea-AI Summary

Zoomcar (OTCQB: ZCAR) reported Q2 FY25-26 results for the quarter ended September 30, 2025, delivering its eighth consecutive quarter of positive contribution profit and narrowing losses.

Key metrics: contribution profit USD 1.20M (USD 12.07 per booking, +5% YoY), gross booking value USD 6.23M (+2% YoY, organic), adjusted EBITDA loss improved 14% YoY (36% YTD), and net loss narrowed 76% to USD 0.79M from USD 3.35M. Customer metrics include repeat users ~56-57% and a 46% YoY rise in active high-quality hosts. The company cites an asset-light peer-to-peer model with 10M guests and 42,000 cars across 99 cities and will host its earnings call on Nov 14, 2025.

Positive

• Contribution profit of USD 1.20M in Q2 FY25-26
• Per-booking profit up 5% YoY to USD 12.07
• Adjusted EBITDA loss improved 14% YoY
• Net loss narrowed 76% to USD 0.79M
• Active high-quality hosts increased 46% YoY

Negative

• Adjusted EBITDA remains a loss despite improvement
• Gross Booking Value rose only 2% YoY to USD 6.23M

News Market Reaction

-3.28%

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-3.28% News Effect

On the day this news was published, ZCAR declined 3.28%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Delivers USD 1.2 million in contribution profit and 14% YoY EBITDA improvement in Q2 FY25-26.

BENGALURU, India, Nov. 14, 2025 /PRNewswire/ -- Zoomcar Holdings Inc. (OTCQB: ZCAR), India's leading peer-to-peer car-sharing marketplace, announced results for the quarter ended September 30, 2025 (Q2 FY25-26), marking its eighth consecutive quarter of positive contribution profit and sustained progress toward full profitability.

Zoomcar reported a contribution profit of USD 1.20 million, with per-booking profitability up 5% year-over-year to USD 12.07. Adjusted EBITDA loss improved by 14% YoY, and net loss narrowed 76% to USD 0.79 million from USD 3.35 million in Q2 FY24-25. Gross Booking Value reached USD 6.23 million, driven entirely by organic demand.

"Our performance this quarter highlights the resilience of our asset-light marketplace and the discipline driving profitable growth," said Deepankar Tiwari, CEO, Zoomcar. "We continue building a trusted community of hosts and guests as India accelerates its shift from car ownership to access."

Key Highlights – Q2 FY25-26

1. Eight Quarters of Profitability:
   Zoomcar reported its eighth consecutive quarter of positive contribution profit, reflecting the strength of its scalable, asset-light marketplace. The Company generated USD 1.20 million in total or USD 12.07 per booking during the current Fiscal Quarter ended September 30, 2025.
2. Organic Growth Momentum:
   Gross Booking Value rose 2% year-over-year to USD 6.23 million, achieved entirely without any spends on paid marketing for the last 18 months.
3. Growing Customer Loyalty:
   With repeat users steady at 56% to 57% year-over-year, we continue to see a highly engaged base that returns for the platform experience we've built.
4. High-Quality Host Network:
   Active high quality hosts (rated 4.5+ out of 5) increased significantly by 46% year over year.
5. Improved EBITDA Performance:
   Adjusted EBITDA improved 14% year-over-year, driven by tighter cost control and operating leverage. Year to date six months ended September 30, 2025 shows 36% improvement in Adjusted EBITDA. 
6. Sharp Reduction in Net Loss:
   Net loss attributable to shareholders narrowed 76% year-over-year to USD 0.79 million, marking a significant step toward operating profitability.

Zoomcar continues to benefit from India's growing mobility shift, with the self-drive car-sharing market projected to expand from 18.48 million guests in 2025 to 65 million by 2031. Since transitioning to a full peer-to-peer model, Zoomcar has built a trusted community of over 10 million guests and 42,000 cars across 99 cities nationwide.

Join Us for Our Q2 FY25-26 Earnings Call

Zoomcar will host its Q2 FY25-26 earnings call on Friday, November 14, 2025, at 8:00 AM ET / 6:30 PM IST. Please register here: https://us06web.zoom.us/webinar/register/WN_U5Cffqt5ReaVyvcPNF1leA

For more information, including the full investor deck and filings, please visit: https://investor-relations.zoomcar.com/in/

About Zoomcar
Founded in 2013 and headquartered in Bengaluru, Zoomcar is India's largest peer-to-peer car-sharing marketplace. Through its digital-first platform, Zoomcar connects individual vehicle owners (Hosts) with users (Guests), offering flexible access to vehicles for self-drive use. The company's mission is to promote smarter, shared mobility that is both economically empowering and environmentally sustainable.

Forward Looking Statement: Certain statements contained in this press release are not historical facts and may be forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "plans," "expects," "believes," "anticipates," and similar words are intended to identify forward-looking statements. These forward-looking statements include, but are not limited to, statements concerning our expected revenue growth and improved profitability, and our financial forecasts. Forward-looking statements are based on our current expectations and beliefs, and involve a number of risks and uncertainties that are difficult to predict and that could cause actual results to differ materially from those stated or implied by the forward-looking statements. A description of certain of these risks, uncertainties and other matters can be found in filings we make with the U.S. Securities and Exchange Commission, all of which are available at www.sec.gov. Because forward-looking statements involve risks and uncertainties, actual results and events may differ materially from results and events currently expected by us, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in its expectations with regard to these forward-looking statements or the occurrence of unanticipated events.

Non-GAAP Financial Measure:

To supplement our financial statements, which are presented on the basis of U.S. generally accepted accounting principles (GAAP), the following non-GAAP measures of financial performance are included in this release: contribution margin, and adjusted EBITDA. A reconciliation of GAAP to adjusted non-GAAP financial measures is included as an attachment to this press release. We believe these non-GAAP financial measures are useful to investors in assessing our operating performance. We use these financial measures internally to evaluate our operating performance and for planning and forecasting of future periods. We also believe it is in the best interests of investors to provide this non-GAAP information. While we believe these non-GAAP financial measures provide useful supplemental information to investors, there are limitations associated with the use of these non-GAAP financial measures. These non-GAAP financial measures may not be reported by competitors, and they may not be directly comparable to similarly titled measures of other companies due to differences in calculation methodologies. The non-GAAP financial measures are not an alternative to GAAP information and are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures. They should be used only as a supplement to GAAP information and should be considered only in conjunction with our consolidated financial statements prepared in accordance with GAAP.

Reconciliation of GAAP to Non-GAAP Metrics

The following is the reconciliation of adjusted EBITDA to the most comparable GAAP measure for the quarter ending September 30, 2025 as compared to September 30, 2024.

	For the Three Months Ended Sep 30,		For the Six Months Ended Sep 30,
All values in $(USD)	2025	2024	2025	2024
Net (Loss)/Income	$(794,149)	$(3,351,975)	$(4,999,462)	$(5,883,554)
Add/(deduct)
Stock-based compensation	685,053	-	685,053	-
Depreciation and amortization	35,052	101,809	70,480	215,136
Finance costs	471,680	2,160,178	903,813	2,320,963
Other expense/(income), net	(1,657,647)	(28,007)	427,022	(1,031,781)
Gain on troubled debt restructuring	-	(352,447)	(72,912)	(352,447)
Adjusted EBITDA	$(1,260,011)	$(1,470,442)	$(2,986,006)	$(4,731,683)

Adjusted EBITDA is a non-GAAP financial measure that represents our net income or loss adjusted for (i) Stock based compensation (ii) depreciation and amortization (iii) finance costs, (iv) Gain on troubled debt restructuring and (v) Other income/Expense.

Contribution Profit/(Loss)

The following is the calculation of Contribution Profit/(Loss) to the most comparable GAAP measure for the quarter ending September 30, 2025 as compared to September 30, 2024.

	For the Three Months Ended Sep 30,		For the Six Months Ended Sep 30,
All values in $(USD)	2025	2024	2025	2024
Net revenue	$2,287,110	$2,246,897	$4,599,863	$4,487,882
Cost of revenue	1,197,289	1,213,422	2,510,976	2,725,711
Gross profit/(loss)	1,089,821	1,033,475	2,088,887	1,762,171
Add: Depreciation and amortization in COR	22,761	74,306	45,727	149,179
Add: Stock-based compensation in COR	34,816	-	34,816	-
Add: Overhead costs in COR (rent, software support, insurance, travel)	139,160	145,346	326,975	350,321
Less: Host Incentives and Marketing costs (excl. brand marketing)	89,141	45,361	160,564	594,744
-Host incentives	34,766	30,242	77,155	77,864
- Marketing costs (excl. brand marketing)	54,374	15,119	83,410	516,880
Contribution profit/(loss)	$1,197,417	$1,207,766	$2,335,841	$1,666,927
Contribution margin	52 %	54 %	51 %	37 %

We define contribution profit (loss) as our gross profit/(loss) plus (a) depreciation expense included in cost of revenue,(b) other general costs included in cost of revenue (rent, software support, insurance, travel); less (i) Host incentive payments and (ii) marketing and promotional expenses (excluding brand marketing).

 

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SOURCE Zoomcar

FAQ

What did Zoomcar (ZCAR) report for contribution profit in Q2 FY25-26?

Zoomcar reported a contribution profit of USD 1.20M for the quarter ended September 30, 2025.

How much did Zoomcar's net loss narrow for Q2 FY25-26 (ZCAR)?

Net loss narrowed 76% to USD 0.79M in Q2 FY25-26 versus USD 3.35M a year earlier.

What was Zoomcar's gross booking value and growth in Q2 FY25-26 (ZCAR)?

Gross Booking Value reached USD 6.23M, up 2% YoY, driven entirely by organic demand.

How did Zoomcar's adjusted EBITDA perform in Q2 FY25-26 (ZCAR)?

Adjusted EBITDA loss improved by 14% year-over-year, with a 36% YTD improvement for six months ended Sept 30, 2025.

What customer and supply metrics did Zoomcar report in Q2 FY25-26 (ZCAR)?

Repeat users remained ~56–57%, and active high-quality hosts (rated 4.5+) rose 46% YoY.