Turkish Market Competitive Position and Growth
Business plan projections vs Actual Q3 2022
Q3 2022 E
Q3 2022 A
Δ
Comments
Average Daily Vehicles Deployed
30,692
36,176
18%
↑ E-bike deployment completed ahead of schedule.
Average Daily Rides per Vehicle
3.53
3.10
(12)%
↓ New modality launches in new cities, following Istanbul.
Average Net Revenue per Ride (USD)
0.90
0.87
(3)%
Effect of Turkish Lira devaluation, offset by price increases.
Net Revenue (USD, thousands)
8,937
8,943
0%
Operating Costs, excl. D&A
(USD, thousands)
% of Net Revenue
(4,064)
(4,778)
18%
Price increase in mid-September trails wage increase in July. Distinct teams for each modality have yet to
be consolidated.
45%
53%
G&A (USD, thousands)
(2,427)
(2,804)
16%
↓ Additions to senior management team and increased advisory expenses prior to listing.
% of Net Revenue
27%
31%
1
Adj. EBITDA (USD, thousands)
2,538
1,483
(42)%
Adj. EBITDA Margin
28%
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.
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