IST:FORTE Income Statement

Financials in millions TRY. Fiscal year is January - December.

Millions TRY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	3,108	2,438	1,781	959.88	685.13	215.35
Revenue Growth (YoY)	76.92%	36.84%	85.58%	40.10%	218.15%	5.40%
Cost of Revenue	2,036	1,437	1,461	633.95	506.07	176.62
Gross Profit	1,071	1,001	320.69	325.93	179.06	38.73
Selling, General & Admin	281.79	218.46	103.56	67.34	28.39	5.72
Research & Development	5.24	17.35	10.46	6.72	3.79	0.3
Other Operating Expenses	96.77	106.27	24.19	15.29	-25	-0.22
Operating Expenses	383.8	342.08	138.21	89.35	7.19	5.81
Operating Income	687.58	658.46	182.48	236.58	171.87	32.93
Interest Expense	-652.14	-491.88	-49.69	-35.87	-10.24	-0.04
Interest & Investment Income	2,177	2,195	60.86	94.19	3.4	2.07
Currency Exchange Gain (Loss)	-	-	-105.91	53.3	-9.41	-6.14
Other Non Operating Income (Expenses)	268.91	67.42	-157.14	-259.83	-73.2	-0.31
EBT Excluding Unusual Items	2,481	2,429	-69.39	88.37	82.42	28.51
Gain (Loss) on Sale of Investments	-28.74	-28.74	-3.83	-5.56	-	-0
Pretax Income	2,453	2,400	-73.22	82.81	82.42	28.51
Income Tax Expense	63.04	67.7	9.55	70.62	27.14	5.05
Earnings From Continuing Operations	2,390	2,333	-82.76	12.19	55.28	23.46
Minority Interest in Earnings	-6.45	-3.53	0.75	-	-	-
Net Income	2,383	2,329	-82.02	12.19	55.28	23.46
Net Income to Common	2,383	2,329	-82.02	12.19	55.28	23.46
Net Income Growth	-	-	-	-77.94%	135.66%	-25.04%
Shares Outstanding (Basic)	-	-	67	53	45	14
Shares Outstanding (Diluted)	-	-	67	53	45	14
Shares Change (YoY)	-	-	26.26%	17.93%	225.19%	476.58%
EPS (Basic)	-	-	-1.22	0.23	1.23	1.70
EPS (Diluted)	-	-	-1.22	0.23	1.23	1.70
EPS Growth	-	-	-	-81.30%	-27.53%	-87.00%
Free Cash Flow	3,050	2,829	27.15	250.46	-24.95	-9.58
Free Cash Flow Per Share	-	-	0.41	4.72	-0.56	-0.69
Dividend Per Share	-	-	-	0.113	-	-
Gross Margin	34.47%	41.05%	18.00%	33.95%	26.14%	17.99%
Operating Margin	22.12%	27.01%	10.24%	24.65%	25.09%	15.29%
Profit Margin	76.68%	95.55%	-4.60%	1.27%	8.07%	10.89%
Free Cash Flow Margin	98.14%	116.05%	1.52%	26.09%	-3.64%	-4.45%
EBITDA	732.39	710.11	195.14	240.9	173.66	33.3
EBITDA Margin	23.57%	29.13%	10.95%	25.10%	25.35%	15.47%
D&A For EBITDA	44.81	51.66	12.66	4.32	1.79	0.38
EBIT	687.58	658.46	182.48	236.58	171.87	32.93
EBIT Margin	22.12%	27.01%	10.24%	24.65%	25.09%	15.29%
Effective Tax Rate	2.57%	2.82%	-	85.28%	32.93%	17.71%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.