Zoomcar Holdings, Inc. (USOTC:ZCAR) reported stronger financial performance for the fiscal year ended 31 March 2026, significantly reducing its net loss while delivering improvements across several key profitability measures.
The car-sharing platform said operational efficiencies and tighter cost controls helped offset broadly unchanged revenue during the year.
Net Loss Falls Sharply
Net loss attributable to shareholders declined 43% year over year to $14.62 million, compared with $25.62 million in fiscal 2025.
Adjusted EBITDA loss improved by 47% to $5.22 million, while operating loss narrowed 35% to $6.77 million.
Revenue remained broadly stable at $9.16 million, compared with $9.11 million in the previous financial year.
Profitability Continues to Strengthen
Contribution profit increased 19% to $5.07 million, representing 55% of net revenue, an improvement of 800 basis points from the prior year.
Contribution profit per booking climbed 30% to $12.94 from $9.96, reflecting stronger unit economics despite lower booking volumes.
Gross profit rose 24% to $4.73 million after cost of revenue declined 16% to $4.43 million.
Finance costs also fell sharply, decreasing 63% to $3.18 million.
Lower Marketing Spend Reduces Bookings
Total bookings declined 8% to 391,302 from 426,788, which the company attributed to a deliberate reduction in performance marketing expenditure.
Marketing costs, excluding brand advertising, fell to $0.20 million from $0.60 million, while host incentive payments declined 26%.
Despite fewer bookings, gross booking value remained largely unchanged at $25.27 million.
Customer Engagement Remains Strong
Repeat customers accounted for 51% of all bookings during the year, while the average guest trip rating improved to 4.77 out of five from 4.69.
Chief Executive Officer Deepankar Tiwari said the company had prioritised sustainable profitability over rapid expansion.
“We made a deliberate decision this year: stop buying growth, and prove the marketplace can stand on its own economics,” said Deepankar Tiwari.
“Ten consecutive quarters of positive contribution profit is not a streak. It is a structural result.”
Capital Raising and Uplisting Plans Progress
Zoomcar said it is currently raising additional growth capital and has launched a warrant exchange tender offer.
The company has also appointed an investment bank to evaluate a potential uplisting to a U.S. national securities exchange.
Meanwhile, efforts to restructure its debt continue.