Zoomcar's Q1 Net Loss Increases 28% to $5.4 Million

Rental car platform Zoomcar has reported a 28% year-over-year increase in its net loss for the first quarter ended June 30, 2026, with the loss reaching $5.4 million. This compares to a net loss of $4.2 million in the same period last year.

Total revenue for the quarter remained largely flat at $2.4 million. This lack of revenue growth occurred despite a 10% decline in gross booking value to $5.8 million. The company stated that the lower booking volume was a deliberate strategy, as Zoomcar pivots its business model towards longer, higher-value trips rather than focusing on volume.

Zoomcar claims this shift to extended trips is more profitable, as they generate higher earnings than multiple short trips with comparable operational costs. The company reported that the average value per booking increased by approximately 7% to $66.

While the net loss widened, Zoomcar managed to reduce its adjusted EBITDA loss by about 65% to $611,000. The company is currently seeking fresh capital through a private placement bridge financing round, aiming to raise between $1 million and $10 million, having secured approximately $1.8 million so far. Zoomcar was previously delisted from Nasdaq for failing to meet listing requirements.