Hepsiburada, Turkiye’s leading e-commerce platform, has reported a 66 percent increase in its gross merchandise value (GMV) in the third quarter from a year ago to 10.7 billion Turkish Liras.
Revenues of the company grew 6.9 percent on an annual basis in the July-September period compared with the same period of 2021 to reach 3.3 billion liras, while the number of orders rose by 26 percent year-on-year to 17.4 million, Hepsiburada said in a statement.
The e-commerce platform had a total of 11.8 million active customers as of the third quarter, up 11 percent from a year ago and frequency rose by 21.4 percent to 5.4.
The active merchant base grew 41.5 percent to reach 94,300 and the number of SKUs (stock keeping unit) increased from 76.9 million in September last year to 145 million, marking an 89 percent rise.
The statement added that the share of marketplace GMV improved from 69.7 percent in the third quarter of 2021 to 68.2 percent.
Hepsiburada reported a net loss of 571.5 million liras for the third quarter against a net loss of 1.5 billion in the same quarter of 2021 and its interest, taxes, depreciation, and amortization (EBITDA) improved to negative 638 million from negative 1.25 billion.
“We continued to make progress on our path to profitability despite the macroeconomic challenges during the third quarter,” said Murat Emirdağ, CEO, commenting on the third quarter results.
He added that the company also made progress in its strategic fintech business.
“Hepsipay is focused on developing new features to enrich the shopping experience with improved customer verification and e-wallet capabilities.Having recorded 9.2 million wallet users by the end of the third quarter, Hepsipay Wallet marked the milestone of 10 million wallet users in November,” Emirdağ said.