Financial Data and Key Metrics Changes - The company generated revenue of $18,700,000 for the year 2024, exceeding the guidance of $16,600,000 by $2,100,000, primarily due to the monetization of the ride-hailing service which began in October 2024 [21][24] - Adjusted EBITDA for 2024 was negative $19,300,000, better than the guidance of negative $22,500,000, driven by operational efficiencies in the two-wheeled electric vehicle service [21][24] - Total rides increased from 21,900,000 in 2023 to 31,700,000 in 2024, with unique riders growing from 1,800,000 to 2,100,000 [21][22] Business Line Data and Key Metrics Changes - The number of unique ride-hailing riders increased from approximately 5,000,000 at the end of 2023 to 1,660,000 at the end of 2024, while registered drivers grew from 107,000 to 262,000 [22][24] - The average daily two-wheeled electric vehicles deployed fell from 34,600 in 2023 to 32,600 in 2024 due to the gradual decommissioning of the fleet [22] Market Data and Key Metrics Changes - The company is the number one urban mobility app in Turkey, serving four of the largest cities, which account for 50% of the country's GDP and 34% of its population [9][10] - Turkey has a significant opportunity for ride-hailing services, with a projected annual revenue potential of $3,000,000,000 in the ride-hailing business [12][14] Company Strategy and Development Direction - The company has shifted its primary focus to ride-hailing, with plans to continue investing in this area while implementing profitability-enhancing measures [5][6] - The strategy includes expanding to additional cities in Turkey and refining the dynamic pricing engine to increase take rates [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth potential of the ride-hailing market in Turkey, citing the lack of existing competition and the high demand for tech-enabled mobility solutions [31][39] - The company aims to almost double its revenue to $34,000,000 in 2025 and achieve positive adjusted EBITDA, excluding any incremental investments [24][25] Other Important Information - The company completed the acquisition of Zoba, an AI-powered software platform, to enhance operational efficiency in its two-wheeled electric vehicle business [15][17] - The share repurchase program allows the company to buy back up to $3,500,000 of its ordinary shares at a price per share of $6 through October 2025 [25] Q&A Session Summary Question: Can you talk about the dynamic pricing and its impact on monetization? - The dynamic pricing algorithm has improved match rates by adjusting prices based on demand and supply fluctuations, leading to better metrics [30] Question: How is the driver supply growing? - The company is experiencing strong growth in driver applications due to the high demand for tech-enabled urban transportation in Turkey [32] Question: How has the competitive environment evolved? - The company holds a first-mover advantage in the ride-hailing market and is prepared for competition, which is expected to be limited to a few players [39] Question: What is the regulatory backdrop for ride-hailing in Turkey? - The company is working on establishing full regulations for ride-hailing, with a belief that the market will eventually align with global standards [42][43] Question: What are the assumptions behind the 2025 revenue guidance? - The guidance assumes continued operations in existing cities without new city launches and a similarly sized general and administrative team [51][52] Question: What is the current cash position and monthly burn rate? - The company reported a cash position of approximately $5,000,000 at the end of the year, with a forecasted EBITDA of $3,000,000 for 2025 [74][75] Question: How does the company balance growth and profitability? - The company remains focused on growth in the ride-hailing market, with plans to explore other verticals only after fully capturing the ride-hailing opportunity [87][88]

Company Strategy & Focus - Marti shifted its company focus to ride-hailing services[9] - The company stabilized its two-wheeled electric vehicle service by enhancing profitability and reducing capital requirements[10] - Marti expects accelerated financial performance in 2025, driven by ride-hailing[11] - The company is bolstering its financial strength through monetization of ride-hailing, enhancing cash generation and capital efficiency[12] Operational Highlights - Marti consistently exceeded operational targets for unique ride-hailing riders and registered drivers[19] - As of December 2024, Marti reached 1663 thousand unique ride-hailing riders and 262 thousand registered drivers[22] - Marti is targeting 2150 thousand unique ride-hailing riders and 310 thousand registered drivers by June 30, 2025[34] - Operational efficiency projects in two-wheeled electric vehicle service led to a 105% year-over-year reduction in the total cost of revenues[51] Financial Performance & Guidance - Marti's actual revenue for 2024 was $187 million, exceeding the guidance of $166 million[74, 80] - Adjusted EBITDA for 2024 was a loss of $193 million, an improvement compared to the guidance loss of $225 million[77, 81] - Marti is on track to almost double revenue to $340 million for FY 2025[20] - The company expects positive Adjusted EBITDA of $30 million in FY 2025, excluding incremental investments to accelerate ride-hailing growth[90]

Financial Data and Key Metrics Changes - The company generated revenue of $18,700,000 for the year 2024, exceeding the guidance of $16,600,000 by $2,100,000, primarily due to the monetization of the ride-hailing service which began in October 2024 [21] - Adjusted EBITDA was negative $19,300,000, better than the guidance of negative $22,500,000, driven by operational efficiencies in the two-wheeled electric vehicle service [21][25] - Total rides increased from 21,900,000 in 2023 to 31,700,000 in 2024, with unique riders growing from 1,800,000 to 2,100,000 [21][22] Business Line Data and Key Metrics Changes - The number of unique ride-hailing riders increased from approximately 499,000 in 2023 to 1,660,000 in 2024, while registered drivers grew from 107,000 to 262,000 [10][22] - The average daily two-wheeled electric vehicles deployed decreased from 34,600 in 2023 to 32,600 in 2024 due to the gradual decommissioning of the fleet [22] Market Data and Key Metrics Changes - The company is the number one urban mobility app in Turkey, serving over 109,400,000 rides to 5,900,000 unique riders since launch [8] - The company operates in four of Turkey's largest cities, which account for 50% of the country's GDP and 34% of its population [9] Company Strategy and Development Direction - The company has shifted its primary focus to ride-hailing, aiming to double revenue to $34,000,000 in 2025 and achieve positive adjusted EBITDA [7][25] - Plans to expand into additional cities in Turkey are being considered for 2025 and beyond, with a focus on capturing a $3,000,000,000 annual revenue opportunity in the ride-hailing business [11][12] Management's Comments on Operating Environment and Future Outlook - Management believes that Turkey's ride-hailing market is underdeveloped and presents significant growth opportunities, with a strong demand for tech-enabled mobility solutions [12][42] - The company is prepared for competition and believes its first-mover advantage will help maintain market leadership [39][40] Other Important Information - The company has implemented a share repurchase program allowing for the purchase of up to $3,500,000 of ordinary shares [25] - The acquisition of Zoba's AI-powered software has improved operational efficiency in the two-wheeled electric vehicle business, achieving higher daily rides per vehicle [17] Q&A Session Summary Question: Can you talk about the dynamic pricing and its impact on ride-hailing monetization? - Management explained that dynamic pricing adjusts based on demand and supply, significantly improving match rates and overall metrics [30][31] Question: How is the driver supply growing on the platform? - Management noted that the demand for ride-hailing is high in Turkey, leading to strong growth in driver applications and increased activity among registered drivers [32][33] Question: How has the competitive environment evolved? - Management stated that they are the first mover in the market and expect to maintain a dominant position despite potential competition [38][39] Question: What is the regulatory backdrop for ride-hailing in Turkey? - Management indicated that Turkey is working on establishing regulations for ride-hailing, which is expected to align with global trends [41][42] Question: Can you discuss the assumptions behind the 2025 revenue guidance? - Management clarified that the guidance assumes continued operations in existing cities without new city launches and a similarly sized G&A team [52][54] Question: What is the company's cash position and monthly burn rate? - The company reported a cash position of approximately $5,000,000 at the end of the year, with a forecasted EBITDA of $3,000,000 for 2025 [71][72] Question: How does the company balance growth versus profitability? - Management emphasized a focus on growth in the ride-hailing market, with plans to explore other verticals only after fully capturing the ride-hailing opportunity [84]

[Full Year 2024 Results Overview](index=1&type=section&id=Full%20Year%202024%20Results%20Overview) This section provides an executive summary of Marti's 2024 performance, highlighting strategic shifts, key financial metrics, and operational achievements [Executive Summary & CEO Remarks](index=1&type=section&id=Executive%20Summary%20%26%20CEO%20Remarks) Marti focused on ride-hailing in 2024, achieving growth and monetization, with the CEO projecting substantial 2025 revenue and Adjusted EBITDA growth - The company is positioned to **almost double its revenue** and achieve **positive Adjusted EBITDA** in 2025, excluding potential incremental investments to accelerate ride-hailing growth[4](index=4&type=chunk) - Marti identifies a potential **$3 billion annual revenue opportunity** in the Turkish ride-hailing market, based on market size estimates and global take-rate benchmarks[5](index=5&type=chunk) - The company began monetizing its ride-hailing service in October 2024 through driver subscription packages[4](index=4&type=chunk)[6](index=6&type=chunk) - In 2024, the company continued to focus on enhancing the profitability of its two-wheeled electric vehicle service through efficiency initiatives[5](index=5&type=chunk) [Key Financial & Operational Highlights](index=1&type=section&id=Key%20Financial%20%26%20Operational%20Highlights) Marti's FY2024 revenue and Adjusted EBITDA surpassed guidance, driven by ride-hailing monetization and significant operational growth in riders and drivers Consolidated Financial and Operational Highlights (2023 vs 2024) | | 2023 | 2024 | ∆ | | :--- | :--- | :--- | :--- | | Number of Total Rides (Millions) | 21.93 | 31.71 | 44.6% | | Number of Unique Ride-hailing Riders (Thousands) | 499 | 1,663 | 233.5% | | Number of Registered Ride-hailing Drivers (Thousands) | 107 | 262 | 145.9% | | Revenue (USD Thousands) | 20,030 | 18,660 | (6.8)% | | Net Loss (USD Thousands) | (33,815) | (73,881) | 118.5% | | Adj. EBITDA (USD Thousands) | (17,692) | (19,274) | 8.9% | - FY'24 revenue of **$18.7M** surpassed guidance of **$16.6M**, primarily due to the monetization of the ride-hailing service starting in October 2024[6](index=6&type=chunk)[11](index=11&type=chunk) - FY'24 Adjusted EBITDA of **$(19.3)M** exceeded guidance of **$(22.5)M**, also driven by the new revenue stream from ride-hailing[6](index=6&type=chunk)[11](index=11&type=chunk) - The number of unique ride-hailing riders grew to **1.66M**, and registered drivers reached **262 thousand** by year-end 2024, outperforming company targets[12](index=12&type=chunk) [Business Outlook & Strategy](index=2&type=section&id=Business%20Outlook%20%26%20Strategy) This section outlines Marti's strategic direction and financial targets for 2025, including ride-hailing growth and profitability initiatives [Full Year 2025 Guidance & Targets](index=4&type=section&id=Full%20Year%202025%20Guidance%20%26%20Targets) Marti reaffirms its 2025 guidance, projecting **$34.0 million** revenue and **$3.0 million** Adjusted EBITDA, with specific ride-hailing growth targets Full Year 2025 Guidance | | 2025 Guidance | | :--- | :--- | | Net Revenue (USD Millions) | $ 34.0M | | Adjusted EBITDA (USD Millions) | $ 3.0M | June 30, 2025 Ride-Hailing Targets | | June 30, 2025 Targets | | :--- | :--- | | Number of Unique Ride-hailing Riders (Millions) | 2.15 million | | Number of Registered Ride-hailing Drivers (Thousands) | 310 thousand | - The 2025 guidance assumes no fleet size expansion for the two-wheeled electric vehicle business and excludes any incremental investments to accelerate ride-hailing growth[17](index=17&type=chunk) [Strategic Initiatives](index=2&type=section&id=Strategic%20Initiatives) Marti implemented strategic initiatives including AI software acquisition, a share repurchase program, and operational adjustments to enhance profitability - In February 2024, Marti acquired the intellectual property and software of Zoba, an AI platform for dynamic fleet optimization. Vehicles deployed with Zoba produced **2.4x higher daily rides per vehicle** in H2'24[8](index=8&type=chunk)[16](index=16&type=chunk) - A share repurchase program, adopted in January 2024, authorizes the company to buy back up to **$2.5 million** of its ordinary shares through October 2025[7](index=7&type=chunk) - The company ceased operations in Kocaeli, Mersin, and Muğla, which accounted for **5% of revenue** but **12% of variable operating costs**, to improve overall profitability[12](index=12&type=chunk) - In January 2025, a dynamic pricing model was launched for the ride-hailing service to improve efficiency, reduce wait times, and enhance driver earnings[12](index=12&type=chunk) [Consolidated Financial Statements](index=7&type=section&id=Consolidated%20Financial%20Statements) This section presents Marti's consolidated balance sheet, income statement, and cash flow statement for the fiscal year 2024 [Consolidated Balance Sheet](index=7&type=section&id=Consolidated%20Balance%20Sheet) Marti's balance sheet as of December 31, 2024, shows decreased assets and cash, increased liabilities, and a widening stockholders' deficit Key Balance Sheet Items (Thousands $) | | Dec 31, 2023 | Dec 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | 19,424 | 5,149 | | Total assets | 40,211 | 20,379 | | Total liabilities | 72,909 | 81,820 | | Total stockholders' equity | (32,698) | (61,441) | [Consolidated Income Statement](index=8&type=section&id=Consolidated%20Income%20Statement) Marti's FY2024 income statement shows a slight revenue decrease and a significant increase in net loss, primarily due to higher general and administrative expenses Key Income Statement Items (Thousands $) | | FY 2023 | FY 2024 | | :--- | :--- | :--- | | Revenue | 20,030 | 18,660 | | Cost of revenues | (24,085) | (21,549) | | General and administrative expenses | (15,130) | (49,249) | | Loss from operations | (30,603) | (65,310) | | Net loss | (33,815) | (73,881) | - General & administrative expenses in 2024 included **$37.2 million** of share-based compensation expense. Excluding this, G&A expenses were **$12.1 million**[29](index=29&type=chunk) [Consolidated Statement of Cash Flows](index=9&type=section&id=Consolidated%20Statement%20of%20Cash%20Flows) Marti's FY2024 cash flow statement shows increased cash used in operations and a net decrease in cash and cash equivalents, despite cash generated from financing activities Key Cash Flow Items (Thousands $) | | FY 2023 | FY 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | (14,866) | (25,077) | | Net cash used in investing activities | (4,820) | (1,039) | | Net cash generated from financing activities | 28,612 | 11,841 | | Net (decrease)/increase in cash | 8,926 | (14,275) | | Cash and cash equivalents at end of year | 19,424 | 5,149 | [Non-GAAP Measures and Reconciliations](index=5&type=section&id=Non-GAAP%20Measures%20and%20Reconciliations) This section defines Marti's non-GAAP financial measures and provides a reconciliation of net loss to Adjusted EBITDA [Definition of Non-GAAP Measures](index=5&type=section&id=Definition%20of%20Non-GAAP%20Measures) Marti defines Adjusted EBITDA and Adjusted EBITDA margin as non-GAAP measures, used by management and investors to assess financial and business trends - Adjusted EBITDA is calculated by adding depreciation, amortization, taxes, net financial expenses, and one-time/non-cash adjustments to net income (loss)[20](index=20&type=chunk) - Adjusted EBITDA margin is calculated as Adjusted EBITDA divided by revenue[21](index=21&type=chunk) [Reconciliation of Net Loss to Adjusted EBITDA](index=10&type=section&id=Reconciliation%20of%20Net%20Loss%20to%20Adjusted%20EBITDA) Marti reconciled its FY2024 GAAP net loss of $(73.9) million to a non-GAAP Adjusted EBITDA of $(19.3) million, primarily adjusted for share-based compensation Consolidated Adjusted EBITDA Reconciliation (Thousands $) | | FY 2023 | FY 2024 | | :--- | :--- | :--- | | Net loss | (33,815) | (73,881) | | Depreciation and amortization | 10,045 | 8,691 | | Financial expense (net) | 3,212 | 8,572 | | Stock based compensation expense | 1,989 | 37,161 | | **Adjusted EBITDA** | **(17,692)** | **(19,274)** | [Other Information](index=5&type=section&id=Other%20Information) This section provides details on the conference call and a cautionary statement regarding forward-looking information [Conference Call Information](index=5&type=section&id=Conference%20Call%20Information) Marti held a conference call and webcast on April 29, 2025, to discuss its full-year 2024 financial and operational results - A conference call to discuss FY 2024 results was held on April 29, 2025, at 8:30 a.m. New York Time[19](index=19&type=chunk) [Cautionary Statement Regarding Forward-Looking Information](index=6&type=section&id=Cautionary%20Statement%20Regarding%20Forward-Looking%20Information) This section includes a cautionary statement that forward-looking statements are subject to risks and uncertainties, and actual results may differ materially from expectations - Statements about anticipated growth, 2025 guidance, and future performance are forward-looking and not guarantees of future results[25](index=25&type=chunk) - Actual results may differ materially due to various risks, including industry competition, regulatory changes, economic conditions, and other factors detailed in SEC filings[26](index=26&type=chunk)

Company Overview - Monte Rosa Therapeutics (NASDAQ: GLUE) is a biotechnology company focused on oncology, autoimmune, and inflammatory diseases [1] - The company utilizes its proprietary Quantitative and Engineered Elimination of Neosubstrates (QuEEN) platform to selectively produce molecular glue degraders [1] Unique Selling Proposition - The QuEEN platform distinguishes Monte Rosa from other biotechnology firms by enabling the targeted degradation of specific proteins, which may lead to innovative treatment options in various disease areas [1]

Group 1 - The article reflects a market outlook as of January 12, 2024, indicating that the views expressed may change over time [2] - There is no current stock, option, or similar derivative position in any of the companies mentioned, but there is a potential for initiating a long position in MRT within the next 72 hours [1] - The article emphasizes that past performance is not indicative of future results, and no specific investment recommendations are provided [3]

Company Overview - Marti Technologies, Inc. (NYSE: MRT) is positioned to potentially lead the emerging ride-hailing market in Turkey, leveraging its strong micromobility and ridesharing capabilities [3]. Investment Strategy - The investment approach focuses on GARP (Growth at a Reasonable Price) and value stocks, emphasizing high-quality businesses with strong competitive advantages and significant growth potential [1]. - The strategy prioritizes fundamental analysis, seeking stocks that are trading at a discount to their intrinsic value, ensuring a clear margin of safety [1]. Market Position - Marti Technologies has made a two-year investment to scale its operations, indicating a commitment to expanding its market presence in the ride-hailing sector [3].

Core Viewpoint - SIMPPLE Ltd. has successfully deployed 89 autonomous cleaning robots across Singapore's MRT system, marking a significant advancement in the facilities management sector and aligning with the government's push for automation and digital transformation [1][2][4]. Company Overview - SIMPPLE Ltd. is a technology provider in the facilities management sector, founded in 2016, and has established a strong presence in Singapore, serving over 60 clients in both public and private sectors [7]. - The company has developed the SIMPPLE Ecosystem, which includes a mix of software and hardware solutions for automated workforce management in building maintenance, surveillance, and cleaning [7]. Industry Context - The deployment of autonomous cleaning robots is part of a broader trend towards automation in response to rising demand for environmental services, driven by urbanization and public expectations for high hygiene standards [4]. - The tight labor market and aging workforce in Singapore are pushing companies like SMRT Trains to adopt new technologies to enhance operational efficiency [4]. Technological Innovation - The autonomous cleaning robots utilize advanced sensors and artificial intelligence to navigate MRT stations, significantly improving cleaning speed and efficiency by cleaning areas three times faster than human workers [3][5]. - The robots are designed to relieve the cleaning workforce from repetitive tasks, allowing them to focus on more complex responsibilities [3][5]. Partnership and Recognition - The partnership with SMRT Trains has led to a cleaner environment and increased productivity, culminating in SMRT Trains receiving the Organisation (Public Sector) of the Year award at the LOO Award Ceremony [5][6]. - SIMPPLE's CEO expressed enthusiasm for the deployment, highlighting the strategic expansion into the rail transport sector and the potential for future collaborations with other rail operators globally [6][7].

Singapore, Nov. 22, 2024 (GLOBE NEWSWIRE) -- SIMPPLE Ltd. (NASDAQ: SPPL) (“SIMPPLE” or “the Company”), a leading technology provider and innovator in the facilities management sector, through its subsidiary, today announced that the Company had completed the sale and successful deployment of 89 autonomous cleaning robots across Singapore, marking the largest robotic fleet in the land transport sector with rail operator SMRT Trains. Aligned with the broader Singapore Government initiative to push towards gr ...

MRT-6160, a potent and highly selective VAV1-directed molecular glue degrader, represents a potential novel therapeutic approach for systemic and neurological autoimmune and inflammatory diseases Initial Phase 1 clinical results, including biomarker data to demonstrate pharmacodynamic effects, anticipated in Q1 2025 BOSTON, Aug. 19, 2024 (GLOBE NEWSWIRE) -- Monte Rosa Therapeutics, Inc. (Nasdaq: GLUE), a clinical-stage biotechnology company developing novel molecular glue degrader (MGD)-based medicines, tod ...