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Zoomcar Holdings, Inc. reported a smaller quarterly net loss and continued liquidity strain in its quarter ended September 30, 2025. Revenue was $2.29 million versus $2.25 million a year ago, while net loss narrowed to $0.79 million from $3.35 million. For the six months, revenue was $4.60 million and net loss was $5.00 million. Operating cash used was $0.53 million for the six months.
The balance sheet shows total assets of $3.12 million against total liabilities of $30.83 million and a stockholders’ deficit of $27.72 million. Cash and cash equivalents were $169,357, and the company disclosed negative working capital of $28.58 million and an accumulated deficit of $338.17 million, stating that these conditions raise substantial doubt about its ability to continue as a going concern. Management noted plans to seek additional debt or equity financing, including a previously filed Form S-1 for up to $15 million with no proceeds raised to date, and discussions for up to $5 million in bridge financing and approximately $20 million in an uplist raise. As of November 12, 2025, 6,902,727 common shares were outstanding.
Zoomcar Holdings, Inc. announced that its ordinary shares began trading on the OTCQB tier under the ticker ZCAR on November 4, 2025. The company elected to transition its quotation from OTCQX to OTCQB after receiving notice it no longer met certain OTCQX eligibility requirements.
The move does not affect the company’s reporting obligations under the Securities Exchange Act of 1934, and its securities continue to trade publicly in the United States.