Release Date: April 29, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Q: Can you talk about how dynamic pricing has helped the ride-hailing monetization model since its launch and the early signs of success? A: Oguz Alper Oktem, Co-Founder and CEO, explained that dynamic pricing has improved match rates by adjusting prices based on demand and various factors like weather and events. This ensures optimal pricing for both riders and drivers, enhancing trip numbers. The ride-hailing service is new to Turkey, and the demand is high due to the lack of quality alternatives, leading to strong growth in driver applications and increased activity among registered drivers.
Q: How do you view the competitive environment in the ride-hailing market, and what are your expectations for the future? A: Oguz Alper Oktem stated that being the first mover in Turkey's ride-hailing market is a significant advantage. The market is expected to evolve into a duopoly or oligopoly, with local players having an edge due to their understanding of the market. Marti is prepared for competition and aims to maintain its dominant position through local expertise and operational advantages.
Q: What are the assumptions behind your 2025 revenue and EBITDA guidance, and how do you plan to achieve these targets? A: Cankut Durgun, Founder and President, mentioned that the guidance assumes continued operations in existing cities without new launches and a similarly sized G&A team. The company plans to gradually increase take rates and focus on efficient growth in ride-hailing, which is expected to drive revenue and EBITDA improvements.
Q: How do you balance growth versus profitability, and what is your focus for 2025? A: Cankut Durgun highlighted that Marti remains growth-focused, especially in the ride-hailing market, which is still in its early stages in Turkey. While monetization has begun, the company prioritizes growth over profitability. The ride-hailing opportunity is substantial, and Marti aims to capture it fully before exploring other verticals.
Q: Are there any potential political changes in Turkey that might impact Marti in 2025? A: Oguz Alper Oktem noted that Turkey has a history of mild political turmoil, but the country's economy is solid, and urban mobility needs persist regardless of political changes. Marti's business model is resilient, and the company does not foresee any major political developments affecting its operations.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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