Zoomcar Reports Robust Performance in Its First Quarter 2024 Results
Zoomcar Reports Robust Performance in Its First Quarter 2024 Results
BENGALURU, India, Aug. 16, 2024 /PRNewswire/ -- Zoomcar Holdings, Inc. (NASDAQ: ZCAR) ("Zoomcar," the "Company," "we," or "our"), the leading marketplace for car sharing in emerging markets, today reported select financial results for the first fiscal quarter ended June 30, 2024.
Zoomcar Holdings, Inc.(纳斯达克:ZCAR)是领先的新兴市场汽车共享市场。今天,该公司公布了截至2024年6月30日的首个财季的部分财务结果。
Management Commentary
管理层评论
"Our first fiscal quarter results reflect a robust performance in our ongoing efficiency efforts. We achieved record non-GAAP gross profit and contribution profit, while also laying the groundwork for substantial revenue growth in the coming quarters," stated Hiroshi Nishijima, CEO of Zoomcar. "This period also marked a significant milestone with the third consecutive quarter of contribution profit. As we look ahead to the end of Fiscal year 2025, we anticipate a meaningful return to growth, supported by enhanced profitability due to our streamlined operational infrastructure."
"我们的第一财季业绩反映出了我们持续的效率努力,实现了创纪录的非通用会计原则毛利润和净贡献利润,同时为未来几个季度实现实质性营收增长奠定了基础,"Zoomcar的CEO Hiroshi Nishijima说。"这段时间也标志着连续第三个季度实现净贡献利润的重要里程碑。展望2025财年结束,我们预计将实现有意义的增长,得益于精简的运营基础设施,增强了盈利能力。"
Zoomcar continues to make significant progress across the company's strategic priorities:
Zoomcar在公司战略重点领域继续取得重大进展:
- Number of bookings: Total number of bookings increased by 9% from 103,643 bookings during the three months ended June 30, 2023, to 112,944 for the three months ended June 30, 2024. This is an important milestone as we achieved this marginal growth with lower expenditure on performance marketing and host incentivisation, a reflection of strong demand and brand strength.
- Contribution Margin: Our contribution margin improved significantly from a contribution loss of 45% or $1.2 million for the three months ended June 30, 2023, to a contribution profit of 20% or $0.5 million for the three months ended June 30, 2024. This is the third consecutive quarter where we have posted a contribution profit.
- Cost Optimisation Efforts: We successfully reduced our cost of revenue by 58%, from $3.6 million during the three months ended June 30, 2023, to $1.5 million during the three months ended June 30, 2024. This significant reduction was a result of broad-based cost optimization initiatives driven by technology and product. An example is a tighter guest verification process which uses multiple inputs from Aadhar, driving license and selfie authentication. This has led to a healthy reduction in late returns and accidents.
- Reduction in adjusted EBITDA: Our adjusted EBITDA demonstrated significant improvement, narrowing from a loss of $6.8 million during the three months ending June 30, 2023, to a loss of $3.3 million during the three months ending June 30, 2024. This reduction underscores the effectiveness of our cost management strategies and our unwavering commitment to operational efficiency.
- Guest trip rating has reached an all-time high: During the three months ending June 30, 2023, the platform's average guest trip rating was 4.16. By the end of Q1 2024, our product-focused approach to enhancing the customer experience continued to yield dividends. Our commitment to improving in-trip communication between guests and hosts resulted in a significant step function improvement in the overall in-trip experience for both customer groups. The average guest trip rating now stands at an impressive 4.71, the highest to date. Additionally, the number of active vehicles with a platform rating exceeding 4.5 reached 5,648 in the quarter. As we look ahead, we remain dedicated to enhancing the quality of the guest and host experience, expecting further improvements in guest trip ratings and the number of active vehicles with ratings exceeding 4.5.
- 预订数量:从2023年6月30日结束的三个月的103,643个预订增长9%,到2024年6月30日结束的三个月的112,944个预订。这是一个重要的里程碑,因为我们通过在性能营销和主机激励上的低支出实现了这种微小的增长,反映出强劲的需求和品牌实力。
- 贡献利润率:我们的贡献利润率大幅提高,从2023年6月30日结束的三个月的45%或120万美元的贡献亏损,到2024年6月30日结束的三个月的20%或50万美元的贡献利润。这是我们连续第三个季度发布贡献利润报告。
- 成本优化工作:我们成功地将收入成本从2023年6月30日结束的三个月的360万美元降低了58%,到2024年6月30日结束的三个月的150万美元。这个显著的减少是一个由技术和产品推动的广泛成本优化举措的结果。例如,更严格的客人验证流程使用来自Aadhar、驾照和自拍认证的多个输入。这导致了返还和事故人数的健康减少。
- 调整后的EBITDA减少:我们的调整后的EBITDA显著改善,从2023年6月30日结束的三个月的680万美元的亏损减少到2024年6月30日结束的三个月的330万美元的亏损。这个减少凸显了我们的成本管理策略和对运营效率的坚定承诺。
- 客人旅行评分达到历史最高水平:在2023年6月30日结束的三个月,该平台的平均客人旅行评分为4.16。到2024年Q1结束时,我们面向产品的改善客户体验的方法继续产生回报。我们致力于改善客人和主人之间的旅途沟通,为两个客户群体的整体旅途体验带来了显着的飞跃式改善。平均客人旅行评分现在达到了令人印象深刻的4.71分,是迄今为止最高的。此外,活跃车辆评分超过4.5分的数量在本季度达到了5,648辆。展望未来,我们仍致力于提高客人和主人的体验质量,预计客人旅行评分和评分超过4.5的活跃车辆数量将进一步提高。
Together as a team, we are working towards making the fiscal year ending March 31, 2025, a year of sustainable growth and profitability. Under the new leadership team, we are committed to becoming a customer obsessed company for our Hosts and Guests.
作为一个团队,我们正在努力实现2025年3月31日结束的财年可持续增长和盈利。在新领导团队的领导下,我们致力于成为一家以客户为中心的公司,为我们的主人和客人。
For a detailed look at the financials and more insights, you can access the full quarterly report here.
有关财务状况和更多见解的详细信息,请在此处访问完整的季度报告。
About Zoomcar:
关于Zoomcar:
Founded in 2013 and headquartered in Bengaluru, India, Zoomcar is a leading marketplace for car sharing focused in India. The Zoomcar community connects Hosts with Guests, who choose from a selection of cars for use at affordable prices, promoting sustainable, smart transportation solutions in India.
Zoomcar成立于2013年,总部位于印度班加罗尔,是印度自驾租车领域的领先市场。Zoomcar社区连接东家和客人,客人可以选择价格实惠的汽车,促进印度可持续、智能的交通解决方案。
Non-GAAP Financial Measure:
非通用会计准则财务指标:
To supplement our financial statements, which are presented on the basis of U.S. generally accepted accounting principles (GAAP), the following non-GAAP measures of financial performance are included in this release: Net loss per share, contribution margin, and adjusted EBITDA. A reconciliation of GAAP to adjusted non-GAAP financial measures is included as an attachment to this press release. We believe these non-GAAP financial measures are useful to investors in assessing our operating performance. We use these financial measures internally to evaluate our operating performance and for planning and forecasting of future periods. We also believe it is in the best interests of investors to provide this non-GAAP information.While we believe these non-GAAP financial measures provide useful supplemental information to investors, there are limitations associated with the use of these non-GAAP financial measures. These non-GAAP financial measures may not be reported by competitors, and they may not be directly comparable to similarly titled measures of other companies due to differences in calculation methodologies. The non-GAAP financial measures are not an alternative to GAAP information and are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures. They should be used only as a supplement to GAAP information and should be considered only in conjunction with our consolidated financial statements prepared in accordance with GAAP.
为了补充我们以美国通用会计原则(GAAP)为基础呈现的财务报表,本报告包括财务绩效的以下非GAAP财务指标:每股净亏损、贡献利润和调整后的EBITDA。GAAP和调整后的非GAAP财务指标的对比表,已附在本新闻稿中。我们认为这些非GAAP财务指标有助于投资者评估我们的经营绩效。我们在内部使用这些财务指标评估我们的经营绩效和计划和预测未来时期。我们还认为,向投资者提供这些非GAAP信息是最有利的。虽然我们认为这些非GAAP财务指标为投资者提供了有用的补充信息,但是这些非GAAP财务指标使用也存在局限性。这些非GAAP财务指标可能不是竞争对手报告的,而且由于计算方法的不同,它们可能与其他公司的同类指标无法进行直接比较。非GAAP财务指标不是GAAP信息的替代品,不应被孤立地或作为GAAP财务指标的替代品来考虑。它们只应作为GAAP信息的补充,并且必须仅与我们按照GAAP编制的合并财务报表一起考虑。
Forward Looking Statement:
前瞻性声明:
This press release may contain forward-looking statements about our plans, efforts, projections, goals, commitments, expectations, or prospects related to our business. These forward-looking statements reflect our management's expectations of financial performance and ability to operate the business and execute our anticipated business plans and strategy. These statements entail significant risk and uncertainty. To identify these forward-looking statements, we use terms such as "may," "will," "aim," "improve," "estimate," "efficient", "intend," "indicate," "continue," "promote," "believe," "boosting", "elevate," or "enhance," or the negatives thereof, as well as other variations or comparable terminology. We ask that you read statements that contain these terms carefully because we believe this information is important for our investors and customers. Any forward-looking statement in this press release refers solely to what is accurate as of the day it is issued or based on assumptions that Zoomcar believes to be reasonable. The actual results and outcomes may materially differ due to various factors or events beyond our control which we may not be foreseeable at all times. We cannot guarantee or assure any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this press release can or will be achieved. We undertake no obligation to alter or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as required by law.
本新闻稿可能包含关于我们的业务计划、努力、预测、目标、承诺、期望或前景的前瞻性声明。这些前瞻性陈述反映了我们管理层有关财务表现和经营业务以及执行预期业务计划和战略的期望。这些声明涉及重大风险和不确定性。我们使用"可能"、"将"、"旨在"、"改善"、"估计"、"高效"、"意图"、"表示"、"持续"、"促进"、"相信"、"提升"、"提高"或"增强"等术语或其否定形式,以及其他变化或可比的术语或类似术语。我们要求您仔细阅读包含这些术语的声明,因为我们认为这些信息对于我们的投资者和客户非常重要。本新闻稿中的任何前瞻性声明仅反映其发布当日的准确情况或Zoomcar认为合理的假设。实际结果和结果可能因我们无法始终预见的各种因素或事件而有实质性的不同。我们不能保证或保证在本新闻稿中设定的任何计划、举措、预测、目标、承诺、期望或前景可以或将实现。我们不承担任何修改或修订任何前瞻性声明的公开义务,除非法律要求我们这样做。
Contact Details:
联系方式:
Akarshit Gulati: [email protected]
Bhagyashree Rewatkar: [email protected], +91-9029220123
Akarshit Gulati: [email protected]
Bhagyashree Rewatkar: [email protected],+91-9029220123
Reconciliation of GAAP to Non-GAAP Metrics
GAAP和非GAAP指标的调整
The following is the reconciliation of adjusted EBITDA to the most comparable GAAP measure, Net Loss.
下文是调整后的EBITDA与最接近GAAP的衡量标准,净亏损的调解。
For the Three Months Ended June 30, |
||
2024 |
2023 |
|
Net Loss |
$ (2,531,579) |
$ (28,781,134) |
Add/ (deduct) |
||
Stock-based compensation |
- |
444,212 |
Depreciation and amortization |
113,327 |
255,481 |
Finance costs |
551,003 |
21,520,558 |
Finance costs to related parties |
- |
12,861 |
Other income, net |
(1,393,992) |
(251,219) |
Other income from related parties |
- |
(4,050) |
Adjusted EBITDA |
$ (3,261,241) |
$ (6,803,291) |
截至6月30日三个月末 |
||
2024 |
2023 |
|
净亏损 |
$ (2,531,579) |
$ (28,781,134) |
加/减 |
||
以股票为基础的报酬计划 |
- |
444,212 |
折旧和摊销 |
113,327 |
255,481 |
财务成本 |
551,003 |
21,520,558 |
与相关方之间的财务费用 |
- |
12,861 |
其他收入,净额 |
(1,393,992) |
(251,219) |
与相关方之间的其他收入 |
- |
(4,050) |
调整后的EBITDA |
(3,261,241) |
(6,803,291) |
Adjusted EBITDA is a non-GAAP financial measure that represents our net income or loss adjusted for (i) provision for income taxes; (ii) other income and (expense), net; (iii) depreciation and amortization; (iv) stock-based compensation expense; and (v) finance costs.
调整后的EBITDA是一项非GAAP财务指标,代表我们的净利润或损失调整为(i)收入税款;(ii)其他收入和支出,净额;(iii)折旧和摊销;(iv)股票补偿费用;以及(v)财务成本。
Contribution Profit/(Loss)
贡献利润/(损失)
For the Three Months Ended June 30, |
||
2024 |
2023 |
|
Net revenue |
$ 2,240,985 |
$ 2,614,618 |
Cost of revenue |
1,512,289 |
3,610,982 |
Gross Profit/(Loss) |
728,696 |
(996,364) |
Add: Depreciation and amortization in COR |
74,873 |
208,935 |
Add: Stock-based compensation in COR |
- |
67,509 |
Add: Overhead costs in COR (rent, software support, insurance, travel) |
204,975 |
432,892 |
Less: Host Incentives and Marketing costs (excl. brand marketing) |
549,383 |
879,421 |
Less: Host incentives |
47,621 |
95,796 |
Less: Marketing costs (excl. brand marketing) |
501,761 |
783,625 |
Contribution Profit / (Loss) |
$ 459,161 |
$ (1,166,449) |
Contribution margin |
20 % |
-45 % |
截至6月30日三个月末 |
||
2024 |
2023 |
|
营业收入 |
2,240,985 |
2,614,618 |
营业收入成本 |
1,512,289 |
3,610,982 |
毛利润/(损失) |
728,696 |
(996,364) |
增加:COR中的折旧和摊销 |
74,873 |
208,935 |
增加:COR中的股票补偿 |
- |
67,509 |
增加:在COR中的企业开销(租金,软件支持,保险,旅游) |
204,975 |
432,892 |
减少:主机激励和营销成本(不包括品牌营销) |
549,383 |
879,421 |
减少:主持人激励 |
47,621 |
95,796 |
减少:营销成本(不包括品牌营销) |
501,761 |
783,625 |
贡献利润/(亏损) |
$ 459,161 |
$ (1,166,449) |
贡献利润率 |
20 % |
-45% |
We define contribution profit (loss) as our gross profit plus (a) depreciation expense included in cost of revenue, (b) stock-based compensation expense included in cost of revenue, (c) other general costs included in cost of revenue (rent, software support, insurance, travel); less (i) Host incentive payments and (ii) marketing and promotional expenses (excluding brand marketing).
我们将贡献利润(亏损)定义为我们的毛利润加上成本中包括的(a)折旧费用,(b)包括在收入成本中的股票补偿费用,(c)收入成本中包括的其他一般成本(租金、软件支持、保险、旅游);减去(i)主持人激励支付和(ii)营销和促销费用(不包括品牌营销)。
SOURCE Zoomcar Holdings, Inc.
Zoomcar Holdings,Inc. 出处。