Zoomcar Holdings, Inc. - ZCAR STOCK NEWS

Zoomcar Holdings (Nasdaq: ZCAR) has released its fiscal third quarter 2024 results, highlighting significant improvements in key metrics. The company achieved a record contribution profit of $1.28 million (52% of revenue), marking the fifth consecutive quarter of positive contribution profit. This represents a substantial increase from $0.21 million (9% of revenue) in the same quarter last year.

Bookings increased by 19% to 103,599, driven by a 2.0x increase in repeat user booking rates. The company's cost optimization efforts led to significant reductions: 28% in Cost of Revenue, 41% in technology expenses, and 80% in marketing costs. The Adjusted EBITDA loss decreased from $10.17 million to $3.15 million year-over-year.

Customer experience metrics showed notable improvement, with average Guest trip ratings rising from 4.16 to 4.70 out of 5. Active high-quality cars increased by 24% to 7,247 vehicles, indicating improved Host retention rates.

Zoomcar (Nasdaq: ZCAR), the leading marketplace for self-drive car sharing, has announced a virtual Stockholder Meeting scheduled for February 18, 2025, at 12:00 PM EST. Stockholders of record as of December 30, 2024, are eligible to participate and vote. Voting options include advance voting through www.proxyvote.com or during the meeting via http://www.virtualshareholdermeeting.com/ZCAR2025SM or by phone at 1-800-690-6903.

Zoomcar Holdings (NASDAQ: ZCAR), the leading marketplace for self-drive car sharing, has announced it will release its third quarter 2024 financial results on February 14, 2025, before market opening. The company will host a live Zoom Webinar at 8:00 am ET on the same day to discuss the results and provide corporate updates.

Management will address questions from investors and analysts, which should be submitted to investors@zoomcar.com by 10:00 am ET on February 10, 2025. A webinar replay and earnings press release will be available on the company's investor relations website at investor-relations.zoomcar.com.

Zoomcar Holdings (NASDAQ: ZCAR), the Nasdaq-listed marketplace for self-drive car sharing, has announced its participation in the Dealflow Events MicroCap Conference 2025. The conference will take place from January 28-30, 2025, at the Borgata Hotel Casino & Spa in Atlantic City, New Jersey.

CEO Hiroshi Nishijima will deliver a corporate overview presentation on January 30 at 9:30 AM ET and will be available for one-on-one meetings with registered investors during the conference. A replay of the presentation will be accessible on Zoomcar's investor relations website following the event.

Zoomcar (NASDAQ: ZCAR), India's leading car-sharing marketplace, has reported its highest-ever unaudited monthly contribution profit of $494,506 in December 2024, sufficient to cover its India operational costs. The company experienced a 17% growth in bookings compared to December 2023.

Financial performance highlights include a contribution profit of $0.46 million (20%) in Q1 2024-25, up from a loss of $1.2 million (-45%) in Q1 2023-24, and a record quarterly contribution profit of $1.21 million (54% of revenue) in Q2 2024-25, improved from a loss of $0.12 million (-5%) in Q2 2023-24. This marks four consecutive quarters of contribution profit improvement.

The company attributes this success to focusing on customer experience, which has led to increased repeat bookings and improved Host retention while minimizing marketing and discount expenses.

Zoomcar (NASDAQ: ZCAR) reported a 43% year-on-year growth in bookings for November 2024, primarily driven by increased wedding season demand in India. The company has revamped its website booking experience to match its mobile app's convenience, introducing new features including offer sections, curated car lists, guest stories, and city pages with local travel options. The enhanced platform now provides real car images, ratings, and reviews, featuring an updated design and cleaner homepage for better navigation. Zoomcar has reported significant profitability improvements over the last two quarterly reports, and this website enhancement represents a strategic investment to meet growing customer demand.

Zoomcar Holdings (NASDAQ: ZCAR) has launched Zoomcar Cabs, a pilot program in Bengaluru offering commercial cars with professional drivers. This expansion beyond self-drive services comes after significant profitability improvements in the last 6 months. The new service allows customers to select specific car models, view ratings, and book vehicles for periods ranging from 2 hours to over 30 days.

Unlike traditional cab services that only offer broad vehicle categories, Zoomcar's AI technology enables detailed car selection, including year make, age, and boot space preferences. Users can manage their entire journey through a single app, with full control over routes and stops. The company plans to expand to other cities in 2025 based on the pilot's success.

Zoomcar (NASDAQ: ZCAR) has launched Zoomcar Subscription, a new long-term car sharing service offering discounted daily rates for extended bookings ranging from 7 to 30+ days. The service, accessible through the Zoomcar App, provides flexible booking options with no restrictions on hours or kilometers per day. This initiative expands beyond Zoomcar's current hourly pricing model for short-term rentals, responding to increased customer demand for longer duration options. The subscription service features customizable packages, quality vehicle selection, and priority customer support, targeting users seeking alternatives to car ownership, including those relocating, on extended business trips, or requiring long-term commuting solutions.

Zoomcar (NASDAQ: ZCAR) reported improved Q2 2024 financial results, with contribution profit reaching $1.21 million (54% of revenue), up from a loss of $0.12 million in Q2 2023. Bookings increased 7% to 105,160, driven by a 1.5x increase in guest repeat booking rate. The company achieved significant cost reductions: 81% in marketing, 55% in repairs, and 52% in technology expenses. Net loss per share decreased to $4.43 from $2,568.82 year-over-year, while Adjusted EBITDA loss reduced to $1.47 million from $3.87 million. Active high-quality cars increased 6% to 5,830, with guest trip ratings improving to 4.63.