IGO Limited Reports Q1 2025 Results, Sets New Health and Safety Focus

IGO Limited reported its 1H 2025 earnings, highlighting a focus on safety with the appointment of a new Head of Health, Safety, Environment and Heritage. The company's CEO, Ivan Vella, emphasized the importance of a suite of programs to improve performance. The CFO, Kathleen Bozanic, will also participate in the call.

Marti Technologies, the leading urban mobility app in Türkiye, has reported its 1H 2025 earnings, showcasing significant growth and operational improvements in its ride-hailing and mobility services. The company's focus on ride-hailing has driven its financial performance, with key highlights including a 40.9% increase in total rides and a 21.3% increase in unique riders compared to the same period last year Marti Technologies : Investor Presentation 1H 2025^[1].

Operational Highlights

Marti has shifted its focus to ride-hailing, consistently exceeding operational targets for unique ride-hailing riders and registered drivers. The company began monetizing its ride-hailing service in October 2024 and launched a dynamic pricing model in January 2025 to improve service efficiency and enhance rider and driver satisfaction. Additionally, Marti expanded its addressable market by 1.5x through launches in six new cities as part of its 2025-2026 investment plan Marti Technologies : Investor Presentation 1H 2025^[1].

The new app redesign, prominently featuring the ride-hailing service, was well received by users, leading to a 2% increase in the ride request to ride conversion rate and a 16% increase in weekly active users. The company is on track to reach 3.3 million unique ride-hailing riders and 450 thousand registered drivers by the end of 2025 Marti Technologies : Investor Presentation 1H 2025^[1].

Financial Highlights

Marti's ride-hailing service has accelerated financial performance, with the company expecting to almost double its revenue to $34.0 million for FY 2025. The company's Adjusted EBITDA is expected to improve in the second half of 2025, driven by the monetization of ride-hailing and its first-mover advantage Marti Technologies : Investor Presentation 1H 2025^[1].

The company's operational efficiency projects and resource allocation to its higher-margin ride-hailing service produced a 25% reduction in the total cost of revenues compared to 1H 2024, improving the gross profit margin to 49% in 1H 2025 Marti Technologies : Investor Presentation 1H 2025^[1].

Future Outlook

Marti continues to focus on operational efficiency and the expansion of its ride-hailing service. The company's growth drivers include continued organic growth in existing cities, growing urban demand, and the expansion of its services into underpenetrated cities in Türkiye's neighboring countries. Additionally, Marti is exploring opportunities to expand its fleet and introduce new subscription packages to increase its take rate and align with global benchmarks Marti Technologies : Investor Presentation 1H 2025^[1].

References

Marti Technologies : Investor Presentation 1H 2025^[1] https://www.marketscreener.com/news/marti-technologies-investor-presentation-1h-2025-ce7d58dfdf8af127