What factors drove the changes in Marti Technologies's revenue and profit?

What is Marti Technologies's gross profit margin?

What guidance did Marti Technologies's management provide for the next earnings period?

What does Marti Technologies do and what are its main business segments?

What is Marti Technologies's latest dividend and current dividend yield?

What is the revenue and EPS growth rate for Marti Technologies year over year?

What is the market's earnings forecast for Marti Technologies next quarter?

What were the key takeaways from Marti Technologies’s earnings call?

- **Revenue Growth**: 2024 revenue up 11% to $18.7M, with 2025 target of $34M (+82%).
- **Ride Hailing Dominance**: 233% rider growth (1.66M) and 146% driver growth (262K) in 2024; 2025 targeting 2.15M riders.
- **Profitability Path**: 2025 EBITDA to turn positive, driven by ride hailing scale and Zoba AI efficiency.
- **Market Expansion**: Piloting new cities beyond 4 current markets, targeting 24+ million+ cities.
- **Financial Discipline**: G&A costs reduced 7% in 2024; share buybacks active at current price levels.


**【CEO Opening Remarks】**
- Marti Technologies achieved 2024 revenue of $18.7M, exceeding guidance by $2.1M, driven by ride hailing monetization starting in Q4 2024.
- 2025 targets: $34M revenue (almost double 2024) and positive adjusted EBITDA, excluding potential investments.
- Strategic focus: Ride hailing growth with 233% unique rider increase (1.66M) and 146% driver growth (262K registered) in 2024.
- Expansion plans: Piloting new cities beyond Istanbul, Ankara, Izmir, and Antalya, targeting 24+ million+ cities in Turkey.

**【CFO Financial Highlights】**
- 2024 adjusted EBITDA: -$19.3M (vs. -$22.5M guidance), improved by 8.9%, driven by ride hailing monetization and EV operational efficiencies.
- Cost of revenues reduced 11% YoY to $21.5M due to fleet optimization and Zoba AI deployment (2x+ daily rides per vehicle).
- G&A expenses: $49.2M (+226%), primarily share-based compensation; cash-based G&A down 7% to $12.1M.
- 2025 guidance assumes no new city launches and stable G&A team size.

**【Q&A Key Takeaways】**
- **Dynamic Pricing Success**: Match rates improved via location-specific pricing, reducing rider/driver friction.
- **Driver Growth Momentum**: 310K+ drivers targeted by June 2025, with active cohorts showing increased engagement.
- **Regulatory Outlook**: Turkey's ride hailing market is underdeveloped, with potential for local-first regulation; no immediate political risks.
- **Take Rate Strategy**: Gradual increases from low single digits, balancing growth and profitability.
- **Capital Efficiency**: Zoba acquisition ROI exceeded 200% in first year; 100% fleet deployment by 2025.

**【Financial Projections】**
- 2025 EBITDA: $3M (excluding investments), with potential upside from take rate expansion.
- Cash position: ~$5M at year-end; opportunistic share buybacks under $6/share cap.


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