Marti Technologies, Inc. · AMEX:MRT
Marti Technologies — SPAC Merger (October 2022)
18 slides from Marti Technologies's SPAC merger presentation, Oct 26, 2022
Slide 1: Turkey's Leading Mobility App Q3 2022 Investor Presentation
TURKEY’S LEADING MOBILITY APP Q 3 2022 INVESTOR PRESENTATION
Slide 2: About this Presentation
About this Presentation This confidential presentation (this “Presentation”) is for informational purposes only to assist interested parties in making their own evaluation with respect to an investment in connection with a possible transaction (the “Business Combination”) involving Marti Technologie
Slide 3: Cautionary Statement Regarding Forward-Looking Information
Cautionary Statement Regarding Forward - Looking Information T his Presentation contains statements that are not based on historical fact and are “forward - looking statements’’ within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 . For example,
Slide 4: Financial Information; Non-GAAP Measures
Financial Information ; Non - GAAP Measures The financial information and data contained in this Presentation is unaudited and does not conform to Regulation S - X promulgated under the Securities Act . Such information and data may not be included in, may be adjusted in or may be presented different
Slide 5: Q2 2021 vs Q2 2022 results
5 Q 2 2021 Q 2 202 2 ∆ Comments Average Daily Vehicles Deployed 18,685 29,260 57 % ↑ ~1. 5 X growth in fleet size, including new modalities . Average Daily Rides per Vehicle 2 .50 2.97 19 % ↑ Positive impact of shift from partial COVID curfew in Q2 2021 to no curfew in Q2 2022. Average Net Revenue p
Slide 6: Q3 2021 vs Q3 2022 results
6 Q 3 2021 Q 3 202 2 ∆ Comments Average Daily Vehicles Deployed 17,877 36,176 102% ↑ ~ 2 X growth in fleet size, including new modalities . Average Daily Rides per Vehicle 4.32 3.11 (28)% ↓ Q3 2021 figures reflect temporary increase in demand following the end of COVID curfew in Q2 202 1 . Average N
Slide 7: 2021 YTD vs 2022 YTD results
7 2021 YTD 2022 YTD ∆ Comments Average Daily Vehicles Deployed 16,278 31,290 92% ↑ ~ 2 X growth in fleet size, including new modalities . Average Daily Rides per Vehicle 2.90 2.54 (12)% ↓ Impact of competition on share of total market rides . Average Net Revenue per Ride (USD) 1.05 0.87 (17)% ↓ Incr
Slide 8: Increase in share of commute relative to leisure rides reduced average ride durations
8 Increase in share of commute relative to leisure rides reduced average ride durations 1 Average ride duration ( min ) Share of commute rides 2 Source: Company estimate 1. Analysis is conducted for rides in Istanbul, which account for the majority of our rides . 2. Share of commute rides is the sum
Slide 9: Business plan projections vs Actual Q2 2022
9 Q 2 2022 E Q 2 202 2 A ∆ Comments Average Daily Vehicles Deployed 36,861 29,260 (21) % ↓ Shipping , customs and vehicle registration driven delays in deployment of new vehicles . Average Daily Rides per Vehicle 2. 17 2.97 37 % ↑ Increased vehicle availability and strong demand for new vehicles . A
Slide 10: Business plan projections vs Actual Q3 2022
10 Q 3 2022 E Q 3 202 2 A ∆ Comments Average Daily Vehicles Deployed 30,692 36,176 18% ↑ E - bike deployment c ompleted ahead of schedule. Average Daily Rides per Vehicle 3.53 3.10 (12)% ↓ New modality launches in new cities , following Istanbu l. Average Net Revenue per Ride (USD) 0.90 0.87 (3)% ↓
Slide 11: Business plan projections vs Actual 2022 YTD
11 2022 YTD E 202 2 YTD A ∆ Comments Average Daily Vehicles Deployed 34,865 31,290 (10)% ↓ Shipping , customs and vehicle registration driven delays in deployment of new vehicles . Average Daily Rides per Vehicle 2.26 2.53 12% ↑ Higher share of total market rides than forecast . Average Net Revenue
Slide 12: Price increase in excess of currency devaluation is followed by competitors
12 Price increase in excess of currency devaluation is followed by competitors Price of 10 min. scooter ride (TRY) Marti Comp. 1 Comp . 2 Comp . 3 Currency devaluation of ~ 39 % 2022 YTD … 1 125 139 100 110 120 130 140 150 110 Jun’22 USD / TRY Index ( Jun 30 = 100) Sept’22 100 Dec’21 Mar’22 40 % 47
Slide 13: Marti is scaling with the goal of becoming Turkey's mobility superapp
Lower depreciation Single country focus Greater vehicle availability Lower operating cost Rider preference Increased demand / volumes Lower price Better margins and cash position Faster vehicle expansion Better vehicles with longer useful life Vertical integration 13 Marti is scaling with the goal o
Slide 14: We grew our operations and continued to hire key team members in Q3 2022
14 We grew our operations and continued to hire key team members in Q 3 2022 ● Assembled and deployed over 4,000 new vehicles . ● Started E - bike operations in Çeşme, Isparta, and Kocaeli. ● Operations paused in some cities and vehicles reallocated to improve efficiency . ● M onthly theft and vanda
Slide 15: Customer retention continues to increase with increased availability
Customer retention continues to increase with increased availability Commute rides account for ~9 2 % of rides % of leisure was ~ 8 % in Q 3 2022 1 Commute ridership increases as modalities gain longevity and availability in the field 15 Daily commute 6 0 % First and last mile commute 3 2 % Leisure
Slide 16: E-bike and e-moped rider behavior
16 E - bike rider behavior % of E - bike riders that have used 2+ modalities % of E - bike riders that have previously used another Marti modality 42 % 75 % E - moped rider behavior % of E - moped riders that have previously used another Marti modality 65 % 88 % % of E - moped riders that have used
Slide 17: Adjusted EBITDA reconciliations
17 Adjusted EBITDA reconciliations Source: Company information. Note : The interim financials are non – GAAP management reporting financials and have not been audited or reviewed by the Company’s independent auditors . ( USD, thousands ) Q2 2021 Q2 2022 Q3 2021 Q3 2022 2021 YTD 2022 YTD Gross Profit
Slide 18: Q&A
18 Q&A