Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 243

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 19
Chunk 243
---
 2024 and 2023:

 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Deferred revenue       1,339,954      3,294,445             ( 2,815,778               ( 266,547              1,552,074  
  Total                  1,339,954      3,294,445             ( 2,815,778               ( 266,547              1,552,074  
                        January 1,      Additions      Revenue recognised      FX rate adjustment      December 31, 2023  
  Deferred revenue       1,127,105      5,583,103             ( 4,472,566               ( 897,688              1,339,954  
  Total                  1,127,105      5,583,103             ( 4,472,566               ( 897,688              1,339,954  

F-33

MARTI TECHNOLOGIES, INC. AND ITS SUBSIDIARIES

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

(Amounts expressed in US$
unless otherwise stated.)

16 - OPERATING EXPENSES

For the years ended at December 31, 2024, 2023
and 2022, expenses consists of the following:

                                           January 1 -                      January 1 -                      January 1 -                  
                                           Dec 31,                          Dec 31,                          Dec 31,                      
                                           2024                             2023                             2022                         
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  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  
  Total                                                     82,107,976                       48,517,262                       39,657,217  

For the years ended at December 31, 2024, 2023
and