Zoomcar Holdings, Inc. (OTCQX: ZCAR) announced it has cleared principal remaining items required to advance its previously announced financial restructuring toward completion, according to a company statement.

The India-based peer-to-peer car-sharing marketplace said it addressed outstanding matters that had previously affected the closing timeline. The company will provide further updates on the transaction as appropriate and in accordance with applicable disclosure requirements.

"Resolving these items is an important step toward completing our financial restructuring," said CEO Deepankar Tiwari. "We believe that, once closed, the transaction will strengthen our balance sheet and support the continued execution of the operational improvements our team has pursued over the past year."

For its most recent reported quarter (Q3 FY25-26, ended December 31, 2025), the company reported gross booking value of $6.60 million, with repeat users accounting for 58% of bookings. For calendar year 2025, host payouts were approximately $12.8 million across 18,800 active earning hosts.

The company reported record contribution profit of $1.38 million in Q3 FY25-26, marking its ninth consecutive quarter of positive contribution profit. Adjusted EBITDA loss improved 74% year-over-year to $(0.83) million, and loss attributable to shareholders narrowed 91% year-over-year to $(0.72) million.

Zoomcar's AI-powered risk engine reduced fraud and theft incidents by 38% quarter-over-quarter, from 94 incidents in October-December 2025 to 59 in January-March 2026.

Upon completion, the restructuring is intended to strengthen Zoomcar's balance sheet and reduce outstanding debt obligations. The completion remains subject to customary closing conditions.