Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 3

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 3
Chunk 3
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  drivers and riders have difficulty installing,                                                                                               

  changes in driver and rider preferences or behavior,                       
  including decreases in the frequency of use of our products and services;  
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  there are decreases in driver and rider sentiment                                                                                       

  drivers and riders adopt new products and services                                                                                     
  where our services products and services may be displaced in favor of other services or products, or may not be featured or otherwise  
  available;                                                                                                                             
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  technical or other problems prevent us from delivering                                 

  we adopt terms, policies or procedures related                                                  

  we elect to focus our product decisions on longer-term                                                                                  

  we fail to provide adequate customer service  

  we, or other partners and companies in our industry,                                                                               

Further, government actions in response to potential
future pandemics, such as travel bans, travel restrictions, and shelter-in-place orders, may decrease utilization of our products and
services. If we are unable to cost-effectively maintain or increase our driver and rider base and engagement, our products and services
may become less attractive to drivers and riders and our business, financial condition, and results of operations could be adversely affected.

Changes to our pricing could adversely affect our ability to
attract or retain drivers and riders.

We regularly analyze data to determine the optimal
pricing strategy to support the profitability of our business, while also trying to grow our user base. One of the risks of increasing
driver subscription package prices is that users may downsize their packages and/or drivers may provide their services only on certain
days. Another risk of changing prices is that user demand is sensitive to price increases, particularly given the recent impact of inflation
on consumer spending habits. If we raise prices too much or too often, user demand may decrease. Additionally, factors such as operating
costs, legal and regulatory requirements or constraints, and the ability of our competitors to offer more attractive pricing to either
their customers or service providers may impact our overall pricing model.

Certain of our competitors offer, or may in the
future offer, lower-priced or a broader range of products and services. Similarly, certain competitors may use marketing strategies that
enable them to attract or retain drivers and riders and service providers at a lower cost than us. In the past, we have made pricing changes
and incurred expenses related to marketing and rider payments, and there can be no