IST:MERIT 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	332.06	324.83	197	149.41	112.6	11.37
Revenue Growth (YoY)	111.46%	64.89%	31.86%	32.68%	890.58%	135.82%
Cost of Revenue	12.49	12.41	12.54	24.82	37.94	1.43
Gross Profit	319.58	312.42	184.46	124.58	74.66	9.94
Selling, General & Admin	127.22	112.09	89.85	47.01	27.36	4.96
Other Operating Expenses	5.84	19.11	-2.94	1.96	0.49	-0.25
Operating Expenses	133.06	131.21	86.91	48.97	27.85	4.71
Operating Income	186.52	181.21	97.55	75.61	46.81	5.23
Interest Expense	-0.01	-	-	-	-	-
Interest & Investment Income	22.11	22.11	21.94	9.24	2.56	0.3
Earnings From Equity Investments	473.62	468	25.64	-	-	-
Currency Exchange Gain (Loss)	1.03	1.03	0.47	0.2	0.11	0
Other Non Operating Income (Expenses)	126.34	131.56	-14.49	-13.48	-8.03	-0.09
EBT Excluding Unusual Items	809.61	803.91	131.12	71.58	41.45	5.45
Gain (Loss) on Sale of Investments	-0	-0.01	-10.98	-4.13	-0.5	-0.22
Pretax Income	809.61	803.9	120.14	67.44	40.95	5.23
Income Tax Expense	49.81	48.94	-347.76	-54.21	25.4	1.33
Earnings From Continuing Operations	759.8	754.96	467.9	121.66	15.55	3.9
Minority Interest in Earnings	0	0	0	-	-	-
Net Income	759.8	754.96	467.9	121.66	15.55	3.9
Net Income to Common	759.8	754.96	467.9	121.66	15.55	3.9
Net Income Growth	202.30%	61.35%	284.61%	682.10%	299.01%	59.78%
Shares Outstanding (Basic)	-	337	337	337	337	136
Shares Outstanding (Diluted)	-	337	337	337	337	136
Shares Change (YoY)	-	-	-	-	147.08%	345.20%
EPS (Basic)	-	2.24	1.39	0.36	0.05	0.03
EPS (Diluted)	-	2.24	1.39	0.36	0.05	0.03
EPS Growth	-	61.15%	284.59%	682.10%	61.50%	-64.11%
Free Cash Flow	237.66	238.56	69.8	59.2	10.7	13.03
Free Cash Flow Per Share	-	0.71	0.21	0.18	0.03	0.10
Dividend Per Share	-	-	0.140	0.083	0.083	-
Dividend Growth	-	-	68.07%	-	-	-
Gross Margin	96.24%	96.18%	93.64%	83.38%	66.31%	87.45%
Operating Margin	56.17%	55.78%	49.52%	50.61%	41.57%	45.98%
Profit Margin	228.81%	232.41%	237.51%	81.43%	13.81%	34.29%
Free Cash Flow Margin	71.57%	73.44%	35.43%	39.63%	9.50%	114.62%
EBITDA	-	181.22	-	-	46.81	5.23
EBITDA Margin	-	55.79%	-	-	41.57%	45.98%
D&A For EBITDA	-	0.01	-	-	0	0
EBIT	186.52	181.21	97.55	75.61	46.81	5.23
EBIT Margin	56.17%	55.78%	49.52%	50.61%	41.57%	45.98%
Effective Tax Rate	6.15%	6.09%	-	-	62.02%	25.40%
Advertising Expenses	-	56.33	44.65	17.44	11.19	1.69

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