Turkey's D-MARKET Q3 revenue falls 6.1%
HEPS•D-Market's third-quarter revenue fell 6.1% year over year to TRY 24.26 billion, while EBITDA turned negative and its net loss widened. The company said lower gross merchandise volume and a shift toward its marketplace model drove the revenue decline.
1. Quarterly results
Turkey e-commerce platform D-Market reported Q3 revenue of TRY 24.26 billion, down 6.1% year over year, and gross merchandise volume of TRY 62 billion. EBITDA turned negative from a profit a year earlier, and the company's net loss widened.
2. Revenue drivers
The company said lower gross merchandise volume and a shift toward a marketplace model reduced first-party revenue. Delivery service revenue grew with more off-platform customers and Hepsijet-delivered orders, while advertising expenses rose as it invested in strategic initiatives. D-Market provided no specific financial guidance for upcoming quarters or the full year.
