Marti Technologies, Inc. · AMEX:MRT
Marti Technologies — H1 2023 Earnings Presentation
17 slides from Marti Technologies's earnings presentation, 2023
Slide 1: Türkiye's Mobility Super App
& marti TURKiYE’S MOBILITY SUPER APP RIDE-HAILING E-BIKE E-MOPED E-SCOOTER
Slide 2: Disclaimers
Disclaimers Forward Looking Statements This presentation, together with other statements and information publicly disseminated by the Company, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Ex
Slide 3: 1H 2023 Marti performance overview
1H 2023 Marti performance overview Key figures #1 travel app 57% in Turkey (iOS)1 Market share2 4.5M+ $9.5M Net Revenue All-time unique riders 7.7M+ Ride hailing Total Rides 3 New business unit 1. Travel app with the highest number of #1 ranking in Turkey iOS app stores for last 12 months as of June
Slide 4: Marti's ride hailing service has achieved scale within 9 months of launch
Marti's ride hailing service has achieved scale within 9 months of launch • Launched as a pilot in October 2022. Following successful pilot, established as a new operating segment as of 1H 2023 • Offering car and motorcycle hailing services • Taxi market size in Türkiye is estimated at $9 billion to
Slide 5: Marti focused on operational efficiency in its two wheeled EV business in 1H 2023
Marti focused on operational efficiency in its two wheeled EV business in 1H 2023 Average # of vehicles deployed Operational developments (thousands) ● Ceased operations in lower performing cities and reallocated vehicles to higher performing cities to improve efficiency 34 ● Deployed more than 2,00
Slide 6: 1H 2023 two wheeled electric vehicle operational cities
1H 2023 two wheeled electric vehicle operational cities • We ceased operations in Tekirdag, Adana, Bursa, Gaziantep, Iskenderun, and Samsun • Collectively, these cities accounted for under 8% of total net revenue, but more than 12% of variable operational costs in full year 2022 Operational cities a
Slide 7: Revenue generation despite high inflation and currency devaluation
Revenue generation despite high inflation and currency devaluation ~87% increase in price applied to reflect TL depreciation against Despite the year over year decline in average daily rides per vehicle in USD1 and inflation2 the first half of 2023 primarily due to price increases, we generated USD
Slide 8: New modalities drive multi-modal ridership, increasing spending per rider
New modalities drive multi-modal ridership, increasing spending per rider Multimodal riders ride and spend significantly more than single modality riders1 E-bike rider behavior (18 months into operation) 2.8x 2.6x 73% 45% % of E-bike riders that % of E-bike riders that have have previously used used
Slide 9: Guidance
Guidance 1 2023 Guidance for Consolidated 2022 Actual Operations Including Ride-Hailing Investments REVENUE $ 25.0 m $ 20.1 m ADJUSTED 2 $ (3.9) m $ (17.8) m EBITDA 1. The Company’s guidance is based on a number of assumptions that are subject to change and many of which are outside the control of t
Slide 10: 1H'22 vs. 1H'23 Two Wheeled Electric Vehicle Operations Financial Results
1H’22 vs. 1H’23 Two Wheeled Electric Vehicle Operations Financial Results 1H 2022 1H 2023 ∆ Comments Average Daily Vehicles Deployed 28,836 34,439 19% ↑ New e-moped deployments and increased total fleet daily deployment rate. ↓ Elevated inflation producing a decline in purchasing power, and one-off
Slide 11: 1H'22 vs. 1H'23 Ride-Hailing Operations Financial Results
1H’22 vs. 1H’23 Ride-Hailing Operations Financial Results 1H 2022 1H 2023 Comments G&A (USD, thousands) 0 (1,225) Investments in ride-hailing HQ team Driver and rider acquisition campaigns across digital and offline channels. Cross subsidies at our Selling & Marketing (USD, thousands) 0 (2,986) two
Slide 12: Appendix
APPENDIX 12
Slide 13: Profit and Loss Statement
Profit and Loss Statement (in thousands $) 1H 2022 1H 2023 Revenue 9,731 9,485 Cost of Revenues (11,625) (13,018) Gross Profit (1,894) (3,533) Selling and marketing expenses (235) (3,211) General and administration expenses (3,390) (5,668) Research and development expenses (573) (1,500) Other income
Slide 14: Balance Sheet
Balance Sheet (in thousands $) December 31, 2022 1H 2023 (in thousands $) December 31, 2022 1H 2023 Total current assets 20,455 12,480 Current liabilities 15,867 13,338 Accounts payable 3,574 3,558 Cash and cash equivalents 10,498 3,970 Short-term financial liabilities, net 7,294 6,104 Accounts rece
Slide 15: Cash Flow Statement
Cash Flow Statement (in thousands $) 1H 2022 1H 2023 (in thousands $) 1H 2022 1H 2023 Cash flow from operating activities Cash flow from investing activities Net loss (6,633) (12,000) Purchases of vehicles (4,443) (3,431) Adjustments to reconcile net loss to net cash used in 7,114 7,583 operating ac
Slide 16: Non-GAAP reconciliations
Non-GAAP reconciliations (in thousands $) 1H 2022 1H 2023 Net Loss (6,633) (12,000) Depreciation and Amortization 4,834 4,672 Income Tax Expense 0 0 Financial Income (607) (2,720) Financial Expense 861 616 Customs tax provision expense (380) (78) Lawsuit provision expense (61) 67 Salary cut off adju
Slide 17: Q&A Marti Investor Relations
Q&A MARTI INVESTOR RELATIONS 17 investor.relations@marti.tech