Zoomcar Holdings reported revenue of $9.90M for fiscal year 2024, marking a 12% YoY increase, while net loss improved to $34.28M from $62.03M in FY2023. The company's gross margin improved to -4% from -134% YoY, though working capital remained negative at $26.24M. The peer-to-peer car sharing platform maintained operations across 99 Indian cities with 41,166 registered Host vehicles and 2.4 million active Guests.Significant leadership changes occurred with CEO Greg Moran's termination in June 2024 and CFO Geiv Dubash's resignation in April 2024, replaced by interim appointments of Hiroshi Nishijima and Sachin Gupta respectively. The company completed its Business Combination with IOAC in December 2023 and implemented new corporate governance measures, including an enhanced audit committee structure.The company faces substantial challenges with a going concern warning indicating cash runway only until November 2024, and majority of its $42.86M indebtedness in default. Recent strategic moves include raising $3.6M through notes and warrants in June 2024, ceasing operations in Indonesia, Egypt and Vietnam, and shifting focus from growth to profitability.

Zoomcar Holdings reported revenue of $9.90M for fiscal year 2024, marking a 12% YoY increase, while net loss improved to $34.28M from $62.03M in FY2023. The company's gross margin improved to -4% from -134% YoY, though working capital remained negative at $26.24M. The peer-to-peer car sharing platform maintained operations across 99 Indian cities with 41,166 registered Host vehicles and 2.4 million active Guests.Significant leadership changes occurred with CEO Greg Moran's termination in June 2024 and CFO Geiv Dubash's resignation in April 2024, replaced by interim appointments of Hiroshi Nishijima and Sachin Gupta respectively. The company completed its Business Combination with IOAC in December 2023 and implemented new corporate governance measures, including an enhanced audit committee structure.The company faces substantial challenges with a going concern warning indicating cash runway only until November 2024, and majority of its $42.86M indebtedness in default. Recent strategic moves include raising $3.6M through notes and warrants in June 2024, ceasing operations in Indonesia, Egypt and Vietnam, and shifting focus from growth to profitability.