Zoomcar (ZCAR) Q4 25/26 earnings summary

Executive summary

• Achieved tenth consecutive quarter of positive contribution profit, with $5.07 million for FY 2025-26, up from $4.25 million in FY 2024-25.

• Adjusted EBITDA loss reduced by 47% year-over-year to $5.22 million.

• Loss attributable to shareholders improved by 43% to $14.62 million from $25.62 million.

• Maintained high repeat user rate at 51% of bookings, with no incentives or discounts for over six quarters.

• Focused on customer experience, with hosts rated 4.5+ growing by 7% year-over-year and average guest trip rating improving to 4.77.

Financial highlights

• Revenue grew 1% year-over-year to $9.16 million.

• Contribution margin expanded by 800 basis points to 55%, with contribution profit per booking up 30% to $12.94.

• Contribution profit rose 19% to $5.07 million.

• Gross booking value held steady at $25.27 million despite 8% fewer bookings.

• Gross profit increased 24% to $4.73 million as cost of revenue fell 16% to $4.43 million.

Outlook and guidance

• Positioned for growth as India's self-drive car-sharing market is projected to expand from 18.5 million in 2025 to 65 million users by 2031, representing a $28.6 billion opportunity.

• Focus on scaling with a leaner cost base, validated business model, and ongoing efforts to strengthen the balance sheet.

• Actively raising growth capital and targeting uplisting on a premier U.S. exchange.