Zoomcar narrows net loss 43% in fiscal year 2026

Zoomcar Holdings, Inc. (OTCQB: ZCAR) reported financial results for the fiscal year ended March 31, 2026, showing a narrowed net loss and improved profitability metrics, according to a company press release.

Net loss attributable to shareholders fell 43% to $14.62 million from $25.62 million in the prior year. Adjusted EBITDA loss narrowed 47% to $5.22 million from $9.91 million. Loss from operations improved 35% to $6.77 million.

Contribution profit rose 19% to $5.07 million, representing 55% of net revenue, an increase of 800 basis points year over year. Contribution profit per booking climbed 30% to $12.94 from $9.96. Net revenue was essentially flat at $9.16 million compared with $9.11 million a year earlier.

Total bookings declined 8% to 391,302 from 426,788. The company attributed the decline to a reduction in performance marketing spending. Marketing costs excluding brand marketing fell to $0.20 million from $0.60 million, and host incentives declined 26%. Gross booking value held roughly flat at $25.27 million.

Repeat users accounted for 51% of all bookings. Average guest trip rating improved to 4.77 out of five from 4.69. Cost of revenue declined 16% to $4.43 million, lifting gross profit 24% to $4.73 million. Finance costs fell 63% to $3.18 million.

"We made a deliberate decision this year: stop buying growth, and prove the marketplace can stand on its own economics," said Deepankar Tiwari, Chief Executive Officer of Zoomcar. "Ten consecutive quarters of positive contribution profit is not a streak. It is a structural result."

The company said it is raising growth capital, has launched a warrant exchange tender offer, and has engaged an investment bank to explore a potential uplisting to a U.S. national securities exchange. Debt restructuring remains ongoing.

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