Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 217

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 19
Chunk 217
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 the Company’s internal organization and reporting structure. Starting October 2024, the CODM reviews financial
performance on a consolidated basis, without distinguishing between the previously separate business lines. This updated reporting structure
aligns with how the Company manages its business and strategic objectives.

The Company’s operations and activities are all located in Türkiye. Comparative information for prior periods have
been recast to reflect this change in segment reporting. The key measures of performance used by the CODM for the single reportable segment
is segment loss before income tax expense.

F-11

MARTI TECHNOLOGIES, INC. AND ITS SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2024

(Amounts expressed in US$
unless otherwise stated.)

3 - SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES AND USE OF ESTIMATES (Continued)

3.4 Operating
Segments (continued)

For the year ended December 31 2024, 2023 and
2022, the key financial information regarding the operating single segment comprise the following:

 ────────────────────────────────────────────────────────────────────────────────────────────────
  Revenue                                       18,659,655        20,029,552        24,988,171  
  -Cost of revenue                            ( 21,548,566      ( 24,084,598      ( 27,092,577  
  -General and administrative expenses        ( 49,248,578      ( 15,130,045       ( 9,040,589  
  -Selling and marketing expenses              ( 9,347,807       ( 7,347,777       ( 1,646,144  
  -Research and development expenses           ( 1,963,025       ( 1,954,842       ( 1,877,907  
  -Other expense                               ( 3,055,655       ( 2,773,643         ( 399,124  
  -Other income                                  1,194,039           657,926           187,063  
  -Financial income                              1,408,491         3,561,427         2,567,118  
  -Financial expense                           ( 9,979,536       ( 6,772,719       ( 1,931,889  
  Segment Loss Before Income Tax Expense      ( 73,880