Zoomcar Holdings reported revenue of $9.9 million for the fiscal year ended March 31, 2024, up from $8.8 million in FY2023. However, the company's net loss widened to $34.3 million from $62.0 million year-over-year. Total costs and expenses decreased to $41.6 million from $45.3 million.The company completed a reverse recapitalization transaction in December 2023, merging with Innovative International Acquisition Corp. This resulted in Zoomcar becoming a publicly traded company on Nasdaq under the ticker 'ZCAR'. The transaction provided $5.8 million in net proceeds to Zoomcar.Zoomcar's cash position remains critically deficient, with only $1.5 million in cash and cash equivalents as of March 31, 2024. The company expressed substantial doubt about its ability to continue as a going concern, citing negative working capital and the need for additional funding to meet obligations over the next 12 months.

Zoomcar Holdings reported revenue of $9.9 million for the fiscal year ended March 31, 2024, up from $8.8 million in FY2023. However, the company's net loss widened to $34.3 million from $62.0 million year-over-year. Total costs and expenses decreased to $41.6 million from $45.3 million.The company completed a reverse recapitalization transaction in December 2023, merging with Innovative International Acquisition Corp. This resulted in Zoomcar becoming a publicly traded company on Nasdaq under the ticker 'ZCAR'. The transaction provided $5.8 million in net proceeds to Zoomcar.Zoomcar's cash position remains critically deficient, with only $1.5 million in cash and cash equivalents as of March 31, 2024. The company expressed substantial doubt about its ability to continue as a going concern, citing negative working capital and the need for additional funding to meet obligations over the next 12 months.