Summary by Moomoo AI
Zoomcar Holdings reported Q2 FY2025 revenue of $2.25 million, down 16% year-over-year. Net loss narrowed to $3.35 million from $12.40 million in Q2 FY2024. The company cited improved unit profitability despite lower booking days and gross booking value.Cost reduction initiatives drove significant improvements, with cost of revenue down 56% and sales and marketing expenses down 81% year-over-year. Adjusted EBITDA loss narrowed to $1.47 million from $3.87 million last year. The company ended the quarter with $0.61 million in cash and cash equivalents.Zoomcar faces liquidity challenges and is in default on various debt obligations. The company warned it will need to raise additional capital imminently to continue operations beyond December 2024. Management is evaluating options to improve liquidity and address long-term capital structure needs.
