Turkish Market Competitive Position and Growth
Q3 2021 vs. Q3 2022 results
Q3 2021
Q3 2022
A
Comments
Average Daily Vehicles Deployed
17,877
36,176
102%
~2X 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 2021.
Average Net Revenue per Ride (USD)
1.02
0.87
(16)%
Increase in share of commute relative to leisure rides reduced average ride durations by ~20%.
Net Revenue (USD, thousands)
7,263
8,943
23%
Operating Costs, excl. D&A
(USD, thousands)
% of Net Revenue
(3,009)
(4,778)
59%
Revised field operation vehicle rates and increased cost of fuel. Expiration of cloud server credit.
41%
53%
G&A (USD, thousands)
% of Net Revenue
(1,966)
(2,804)
43%
↓ Additions to senior management team and increased advisory expenses prior to listing.
27%
31%
Adj. EBITDA (USD, thousands) 1
2,373
1,483
(38)%
Adj. EBITDA Margin
33%
17%
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. 1. Adjusted EBITDA: The Company defines Adjusted EBITDA as net income (loss) plus non-operating income (loss),
depreciation and amortization, net interest expense, income taxes, stock-based compensation and transaction costs.
6View entire presentation