Model N Income Statement

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

Millions TRY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '25 Mar 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	1,824	1,691	1,928	980.36	278.57
Revenue Growth (YoY)	-2.53%	-12.26%	96.64%	251.93%	-
Cost of Revenue	883.17	779.45	687.97	434.7	155.02
Gross Profit	941.15	911.96	1,240	545.65	123.55
Selling, General & Admin	550.04	581.22	526.64	257.7	52.92
Research & Development	24.78	18.38	12.86	5.53	3.79
Other Operating Expenses	20.15	13.5	198.52	11.34	5.04
Operating Expenses	594.96	613.1	738.02	274.57	61.76
Operating Income	346.19	298.86	501.81	271.08	61.79
Interest Expense	-126.69	-162.05	-107.59	-67.46	-38.14
Interest & Investment Income	92	91.41	82.81	9.8	57.84
Currency Exchange Gain (Loss)	2.75	2.75	-19.73	184.41	-67.11
Other Non Operating Income (Expenses)	246.43	291.43	73.2	-8.24	-4.86
EBT Excluding Unusual Items	560.69	522.41	530.5	389.59	9.51
Gain (Loss) on Sale of Investments	-0.18	-	-232.63	-632.08	-
Legal Settlements	-12.74	-12.74	-126.43	-	-
Pretax Income	547.77	509.66	171.44	-242.49	9.51
Income Tax Expense	205.63	68.88	141.81	31.54	6.25
Net Income	342.14	440.78	29.63	-274.03	3.26
Net Income to Common	342.14	440.78	29.63	-274.03	3.26
Net Income Growth	-	1387.81%	-	-	-
Shares Outstanding (Basic)	431	431	431	431	246
Shares Outstanding (Diluted)	431	431	431	431	246
Shares Change (YoY)	-	-	-	75.28%	-
EPS (Basic)	0.79	1.02	0.07	-0.64	0.01
EPS (Diluted)	0.79	1.02	0.07	-0.64	0.01
EPS Growth	-	1387.81%	-	-	-
Free Cash Flow	268.94	68.14	-364.73	-512.76	17.8
Free Cash Flow Per Share	0.62	0.16	-0.84	-1.19	0.07
Dividend Per Share	0.120	0.120	-	0.033	-
Gross Margin	51.59%	53.92%	64.31%	55.66%	44.35%
Operating Margin	18.98%	17.67%	26.03%	27.65%	22.18%
Profit Margin	18.75%	26.06%	1.54%	-27.95%	1.17%
Free Cash Flow Margin	14.74%	4.03%	-18.92%	-52.30%	6.39%
EBITDA	447.36	422.91	613.48	327.38	74.18
EBITDA Margin	24.52%	25.00%	31.82%	33.39%	26.63%
D&A For EBITDA	101.17	124.05	111.67	56.3	12.39
EBIT	346.19	298.86	501.81	271.08	61.79
EBIT Margin	18.98%	17.67%	26.03%	27.65%	22.18%
Effective Tax Rate	37.54%	13.52%	82.72%	-	65.74%
Advertising Expenses	-	43.03	54.57	31.96	1.26

Updated Feb 14, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.