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.(納斯達克:ZCAR)是領先的新興市場汽車共享市場。今天,該公司公佈了截至2024年6月30日的首個財季的部分財務結果。
Management Commentary
管理層評論
"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."
"我們的第一財季業績反映出了我們持續的效率努力,實現了創紀錄的非通用會計原則毛利潤和淨貢獻利潤,同時爲未來幾個季度實現實質性營收增長奠定了基礎,"Zoomcar的CEO Hiroshi Nishijima說。"這段時間也標誌着連續第三個季度實現淨貢獻利潤的重要里程碑。展望2025財年結束,我們預計將實現有意義的增長,得益於精簡的運營基礎設施,增強了盈利能力。"
Zoomcar continues to make significant progress across the company's strategic priorities:
Zoomcar在公司戰略重點領域繼續取得重大進展:
- 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.
- 預訂數量:從2023年6月30日結束的三個月的103,643個預訂增長9%,到2024年6月30日結束的三個月的112,944個預訂。這是一個重要的里程碑,因爲我們通過在性能營銷和主機激勵上的低支出實現了這種微小的增長,反映出強勁的需求和品牌實力。
- 貢獻利潤率:我們的貢獻利潤率大幅提高,從2023年6月30日結束的三個月的45%或120萬美元的貢獻虧損,到2024年6月30日結束的三個月的20%或50萬美元的貢獻利潤。這是我們連續第三個季度發佈貢獻利潤報告。
- 成本優化工作:我們成功地將收入成本從2023年6月30日結束的三個月的360萬美元降低了58%,到2024年6月30日結束的三個月的150萬美元。這個顯著的減少是一個由技術和產品推動的廣泛成本優化舉措的結果。例如,更嚴格的客人驗證流程使用來自Aadhar、駕照和自拍認證的多個輸入。這導致了返還和事故人數的健康減少。
- 調整後的EBITDA減少:我們的調整後的EBITDA顯著改善,從2023年6月30日結束的三個月的680萬美元的虧損減少到2024年6月30日結束的三個月的330萬美元的虧損。這個減少凸顯了我們的成本管理策略和對運營效率的堅定承諾。
- 客人旅行評分達到歷史最高水平:在2023年6月30日結束的三個月,該平台的平均客人旅行評分爲4.16。到2024年Q1結束時,我們面向產品的改善客戶體驗的方法繼續產生回報。我們致力於改善客人和主人之間的旅途溝通,爲兩個客戶群體的整體旅途體驗帶來了顯着的飛躍式改善。平均客人旅行評分現在達到了令人印象深刻的4.71分,是迄今爲止最高的。此外,活躍車輛評分超過4.5分的數量在本季度達到了5,648輛。展望未來,我們仍致力於提高客人和主人的體驗質量,預計客人旅行評分和評分超過4.5的活躍車輛數量將進一步提高。
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.
作爲一個團隊,我們正在努力實現2025年3月31日結束的財年可持續增長和盈利。在新領導團隊的領導下,我們致力於成爲一家以客戶爲中心的公司,爲我們的主人和客人。
For a detailed look at the financials and more insights, you can access the full quarterly report here.
有關財務狀況和更多見解的詳細信息,請在此處訪問完整的季度報告。
About Zoomcar:
關於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成立於2013年,總部位於印度班加羅爾,是印度自駕租車領域的領先市場。Zoomcar社區連接東家和客人,客人可以選擇價格實惠的汽車,促進印度可持續、智能的交通解決方案。
Non-GAAP Financial Measure:
非通用會計準則財務指標:
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.
爲了補充我們以美國通用會計原則(GAAP)爲基礎呈現的財務報表,本報告包括財務績效的以下非GAAP財務指標:每股淨虧損、貢獻利潤和調整後的EBITDA。GAAP和調整後的非GAAP財務指標的對比表,已附在本新聞稿中。我們認爲這些非GAAP財務指標有助於投資者評估我們的經營績效。我們在內部使用這些財務指標評估我們的經營績效和計劃和預測未來時期。我們還認爲,向投資者提供這些非GAAP信息是最有利的。雖然我們認爲這些非GAAP財務指標爲投資者提供了有用的補充信息,但是這些非GAAP財務指標使用也存在侷限性。這些非GAAP財務指標可能不是競爭對手報告的,而且由於計算方法的不同,它們可能與其他公司的同類指標無法進行直接比較。非GAAP財務指標不是GAAP信息的替代品,不應被孤立地或作爲GAAP財務指標的替代品來考慮。它們只應作爲GAAP信息的補充,並且必須僅與我們按照GAAP編制的合併財務報表一起考慮。
Forward Looking Statement:
前瞻性聲明:
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.
本新聞稿可能包含關於我們的業務計劃、努力、預測、目標、承諾、期望或前景的前瞻性聲明。這些前瞻性陳述反映了我們管理層有關財務表現和經營業務以及執行預期業務計劃和戰略的期望。這些聲明涉及重大風險和不確定性。我們使用"可能"、"將"、"旨在"、"改善"、"估計"、"高效"、"意圖"、"表示"、"持續"、"促進"、"相信"、"提升"、"提高"或"增強"等術語或其否定形式,以及其他變化或可比的術語或類似術語。我們要求您仔細閱讀包含這些術語的聲明,因爲我們認爲這些信息對於我們的投資者和客戶非常重要。本新聞稿中的任何前瞻性聲明僅反映其發佈當日的準確情況或Zoomcar認爲合理的假設。實際結果和結果可能因我們無法始終預見的各種因素或事件而有實質性的不同。我們不能保證或保證在本新聞稿中設定的任何計劃、舉措、預測、目標、承諾、期望或前景可以或將實現。我們不承擔任何修改或修訂任何前瞻性聲明的公開義務,除非法律要求我們這樣做。
Contact Details:
聯繫方式:
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指標的調整
The following is the reconciliation of adjusted EBITDA to the most comparable GAAP measure, Net Loss.
下文是調整後的EBITDA與最接近GAAP的衡量標準,淨虧損的調解。
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日三個月末 |
||
2024 |
2023 |
|
淨虧損 |
$ (2,531,579) |
$ (28,781,134) |
加/減 |
||
以股票爲基礎的報酬計劃 |
- |
444,212 |
折舊和攤銷 |
113,327 |
255,481 |
財務成本 |
551,003 |
21,520,558 |
與相關方之間的財務費用 |
- |
12,861 |
其他收入,淨額 |
(1,393,992) |
(251,219) |
與相關方之間的其他收入 |
- |
(4,050) |
調整後的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.
調整後的EBITDA是一項非GAAP財務指標,代表我們的淨利潤或損失調整爲(i)收入稅款;(ii)其他收入和支出,淨額;(iii)折舊和攤銷;(iv)股票補償費用;以及(v)財務成本。
Contribution Profit/(Loss)
貢獻利潤/(損失)
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日三個月末 |
||
2024 |
2023 |
|
營業收入 |
2,240,985 |
2,614,618 |
營業收入成本 |
1,512,289 |
3,610,982 |
毛利潤/(損失) |
728,696 |
(996,364) |
增加:COR中的折舊和攤銷 |
74,873 |
208,935 |
增加:COR中的股票補償 |
- |
67,509 |
增加:在COR中的企業開銷(租金,軟件支持,保險,旅遊) |
204,975 |
432,892 |
減少:主機激勵和營銷成本(不包括品牌營銷) |
549,383 |
879,421 |
減少:主持人激勵 |
47,621 |
95,796 |
減少:營銷成本(不包括品牌營銷) |
501,761 |
783,625 |
貢獻利潤/(虧損) |
$ 459,161 |
$ (1,166,449) |
貢獻利潤率 |
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).
我們將貢獻利潤(虧損)定義爲我們的毛利潤加上成本中包括的(a)折舊費用,(b)包括在收入成本中的股票補償費用,(c)收入成本中包括的其他一般成本(租金、軟件支持、保險、旅遊);減去(i)主持人激勵支付和(ii)營銷和促銷費用(不包括品牌營銷)。
SOURCE Zoomcar Holdings, Inc.
Zoomcar Holdings,Inc. 出處。