IST:MANAS 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	483.25	516.52	475.77	397.6	269.47	96.38
Revenue Growth (YoY)	35.19%	8.57%	19.66%	47.55%	179.58%	78.52%
Cost of Revenue	363.95	350.75	194.58	183.44	162.03	59.92
Gross Profit	119.3	165.78	281.19	214.16	107.44	36.46
Selling, General & Admin	201.88	213.63	160.93	106.39	50.28	15.53
Research & Development	17.38	15.11	10.52	6.01	2.9	0.86
Other Operating Expenses	-0.09	6.5	4.77	-8.42	5.13	0.05
Operating Expenses	220.6	236.67	177.31	104.82	58.31	16.44
Operating Income	-101.3	-70.9	103.87	109.34	49.13	20.02
Interest Expense	-411.66	-319.69	-257.65	-68.66	-17.64	-7.49
Interest & Investment Income	22.67	22.45	13.93	16.85	2.75	1.33
Earnings From Equity Investments	-5.29	-	-0.7	-0.12	-	-
Currency Exchange Gain (Loss)	-71.85	-71.85	19.84	-14.96	1.97	-4.51
Other Non Operating Income (Expenses)	192.36	55.27	1.22	-18.21	-55.54	-
EBT Excluding Unusual Items	-375.07	-384.72	-119.49	24.24	-19.32	9.35
Gain (Loss) on Sale of Investments	-2	-2	-21.14	-7.12	-0.67	-3.38
Pretax Income	-375.55	-386.71	-140.63	17.12	-20	5.97
Income Tax Expense	72.23	24.03	7.33	-39.77	19.4	1.86
Net Income	-447.78	-410.74	-147.96	56.89	-39.4	4.11
Net Income to Common	-447.78	-410.74	-147.96	56.89	-39.4	4.11
Net Income Growth	-	-	-	-	-	164.12%
Shares Outstanding (Basic)	-	166	92	80	83	83
Shares Outstanding (Diluted)	-	166	92	80	83	83
Shares Change (YoY)	-	80.25%	14.80%	-3.34%	-	-
EPS (Basic)	-	-2.48	-1.61	0.71	-0.48	0.05
EPS (Diluted)	-	-2.48	-1.61	0.71	-0.48	0.05
Free Cash Flow	84.19	287.27	-112.31	-83.96	-116.61	-39.25
Free Cash Flow Per Share	-	1.74	-1.22	-1.05	-1.41	-0.47
Gross Margin	24.69%	32.09%	59.10%	53.86%	39.87%	37.83%
Operating Margin	-20.96%	-13.73%	21.83%	27.50%	18.23%	20.77%
Profit Margin	-92.66%	-79.52%	-31.10%	14.31%	-14.62%	4.26%
Free Cash Flow Margin	17.42%	55.62%	-23.61%	-21.12%	-43.27%	-40.72%
EBITDA	-44.59	-12.11	138.15	129.76	59.6	21.03
EBITDA Margin	-9.23%	-2.34%	29.04%	32.64%	22.12%	21.82%
D&A For EBITDA	56.71	58.78	34.28	20.43	10.48	1.01
EBIT	-101.3	-70.9	103.87	109.34	49.13	20.02
EBIT Margin	-20.96%	-13.73%	21.83%	27.50%	18.23%	20.77%
Effective Tax Rate	-	-	-	-	-	31.17%
Advertising Expenses	-	0.88	1.87	1.58	0.45	0.14

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