Second Quarter 2022 Financial and Operational Highlights
(All financial figures are restated pursuant to IAS 29 unless otherwise indicated)
- Gross merchandise value (GMV) decreased by 9.7% to TRY 9.6 billion compared to Q2 2021.
- Unadjusted for inflation, GMV grew by 57.3% compared to Q2 2021, reaching TRY 9.2 billion.
- Revenue decreased by 6.2% to TRY 2,985.2 million compared to Q2 2021.
- Number of orders increased 8.0% to 14.1 million compared to 13.1 million orders delivered in Q2 2021.
- Active Customers increased 17.5% to 11.7 million from 9.9 million in Q2 2021.
- Frequency increased 23.2% to 5.2 from 4.2 in Q2 2021.
- Active Merchant base increased 45.5% to 88.7 thousand from around 61.0 thousand in Q2 2021.
- Number of SKUs reached 130.3 million as of June 30, 2022 compared to 62.9 million at June 30, 2021, marking 107% year-over-year growth.
- Share of Marketplace GMV reduced to 64.0% compared to 68.7% in Q2 2021.
- EBITDA was negative TRY 593.8 million in Q2 2022 compared to negative TRY 404.3 million in Q2 2021. EBITDA as a percentage of GMV declined 2.4 percentage points to negative 6.2% in Q2 2022 compared to Q2 2021 while improving 2.1 percentage points compared to Q1 2022.
- Unadjusted for inflation, EBITDA as a percentage of GMV in Q2 2022 was negative 2.7%, continuing its improvement by 0.5 percentage points compared to Q2 2021 and sequentially improving by 1.0 percentage point compared to the Q1 2022.
- Net loss for Q2 2022 was TRY 566.3 million compared to a net loss of TRY 484.1 million for Q2 2021.
- Free cash flow was TRY 184.6 million compared to TRY 1,299.8 million in Q2 2021.