Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 5

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 3
Chunk 5
---
.

We rely on third parties maintaining open
marketplaces to distribute our mobile application and provide the software we use in certain of our products and services. If such third
parties interfere with the distribution of our products or services or with our use of such software, if we are unable to maintain a good
relationship with these third parties, or if marketplaces are unavailable for any prolonged period of time, our business will suffer.

Our mobile application is available for download
to our users through the Apple App Store, Google Play Store, and Huawei AppGallery. Substantially all of our revenue is generated through
our mobile application. We cannot assure you that the marketplaces through which we distribute our platform will maintain their current
structures or that such marketplaces will not charge us fees to list our application for download. We believe that we have good relationships
with each of Apple, Google, and Huawei. If we are not featured prominently on the Apple App Store, Google Play Store or Huawei AppGallery,
users may find it more difficult to discover our mobile applications, which would make it more difficult to generate significant revenue
from them. We may also be required to spend significantly more on marketing campaigns to generate substantial revenue on these platforms.
In addition, Apple, Google, and Huawei do not currently charge a publisher to feature one of its apps. If any of these companies were
to charge publishers to feature an app, it could cause our marketing expenses to increase. Accordingly, any change or deterioration in
our relationship with Apple, Google or Huawei could materially harm our business.

We also rely on the continued functioning of the
Apple App Store, Google Play Store, and Huawei AppGallery. In the past, these digital storefronts have been unavailable for short periods
of time or experienced issues with their in-app purchasing functionality. If either of these events recurs on a prolonged basis or other
similar issues arise that impact our ability to generate revenue from these storefronts, it would have a material adverse effect on our
revenue and operating results. In addition, if these storefront operators fail to provide high levels of service, our end users’
ability to access our mobile applications may be interrupted which may adversely affect our users’ confidence in our products and
our brand.

In addition to the aforementioned mobile application
platforms, there are additional third-party mobile application platforms available to distribute our mobile application to customers,
including the Microsoft and Samsung app stores. However, these alternative app stores have significantly fewer users than the Apple App
Store, Google Play Store,