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Company Presents 2025 Guidance
ISTANBUL, December 02, 2024--(BUSINESS WIRE)--Türkiye’s leading mobility super app, Marti Technologies, Inc. ("Marti" or the "Company") (NYSE American: MRT) announces its expectation to reach positive free cash flow in 2025 and presents 2025 guidance.
After two years of investing in growing its ride-hailing business, Marti announced in October 2024 that it has begun monetizing its ride-hailing service.
As the only at scale ride-hailing operator in the country, together with the monetization of its ride-hailing service, Marti expects to complete 2025 with $34.0 million of revenue and $3.0 million of adjusted EBITDA*. These figures are up from Marti’s 2024 performance targets of $16.6 million of revenue and $(22.5) million of adjusted EBITDA*. Marti’s 2025 forecast represents 2.1 times growth over its expected revenue figure for 2024, and an adjusted EBITDA improvement of $25.5 million.
Marti also forecasts achieving positive free cash flow in 2025.
Outlook for 2025
The Company provides its full year 2025 outlook as follows:
|
| 2024 Guidance | 2025 Guidance | Change |
| Revenue | $16.6 million | $34.0 million | 2.1 times growth |
| Adjusted EBITDA | $(22.5) million | $3.0 million | $25.5 million improvement |
The 2025 revenue, adjusted EBITDA and free cash flow guidance provided herein are based on Marti’s current estimates and assumptions and are not a guarantee of future performance. Such guidance is subject to significant risks and uncertainties, including the risk factors discussed in the Company's reports on file with the Securities and Exchange Commission ("SEC"), that could cause actual results to differ materially. There can be no assurance that the Company will achieve the results expressed by this guidance.
* This press release does not include a reconciliation of forward-looking Adjusted EBITDA for 2024 or 2025 because the Company is unable, without making unreasonable efforts, to provide a meaningful or reasonably accurate calculation or estimation of certain reconciling items which could be significant to the Company’s results.
Non-GAAP Financial Measures
Certain financial information and data contained herein are not presented in accordance with generally accepted accounting principles of the United States ("GAAP"), including adjusted EBITDA.
We define these metrics as follows: Adjusted EBITDA as depreciation, amortization, taxes, financial expenses (net of financial income) and one-time charges and non-cash adjustments, plus net income (loss). The one-time charges and non-cash adjustments are mainly comprised of customs tax provision expenses resulting from the one-time amendment of customs duties and lawsuit provision expense which the Company does not consider the provision to be reflective of its normal cash operations.