Marti Technologies Reports 156% Revenue Growth Year-Over-Year

Written by Emily J. Thompson, Senior Investment Analyst

Source: Yahoo Finance

Updated: May 21 2026

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MRT-7.14%

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Source: Yahoo Finance

Significant Revenue Growth: Marti Technologies Inc (MRT) reported a revenue of $15.4 million, reflecting a remarkable 156% year-over-year increase, indicating strong market performance and expansion potential.
Improved Gross Margin: The company's gross profit margin surged from 36.8% to 72%, demonstrating substantial improvements in profitability and unit economics, which enhances investor confidence.
Market Expansion: MRT has expanded its operations across 20 cities in Turkey, offering eight different services, with ride-hailing experiencing a 101% year-over-year increase in unique riders, making it the primary growth driver.
Near Break-even EBITDA: Although still operating at a loss, MRT's adjusted EBITDA improved from a negative $3.6 million to negative $0.5 million year-over-year, indicating positive progress in financial health.

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About MRT

Marti Technologies, Inc. offers urban mobility application, offering multiple transportation services to its riders. The Company operates a ride-hailing service that matches riders with car and motorcycle drivers. Its offerings are serviced by software systems and Internet of Things (IoT) infrastructure. It offers tech-enabled urban transportation services to riders across Turkiye through two service offerings in the metropolitan areas: ride-hailing and two-wheeled electric vehicles. Its ride-hailing service matches riders with cars, motorcycles, and taxi drivers. The Company's two-wheeled electric vehicle service offers a shared mobility solution through a Company-owned and operated fleet of e-mopeds, e-bikes and e-scooters. It offers environmentally sustainable transportation services to its riders. It operates an artificial intelligence (AI)-powered SaaS platform, offering dynamic fleet optimization algorithms for two-wheeled electric vehicle rental operators.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

Marti Technologies Announces Share Repurchase Program

Jun 29 2026Newsfilter

Repurchase Program Initiation: Marti Technologies has repurchased 274,200 ordinary shares since the initiation of its share repurchase program on January 10, 2024, at an average price of $2.25 per share, totaling $618,296, reflecting the company's confidence in its stock value.
Repurchase Fund Size: The repurchase program has a total cap of $2.5 million, with a maximum repurchase price of $6.00 per share, running through October 26, 2026, aimed at enhancing shareholder value and stabilizing stock prices.
Company Background: Founded in 2018, Marti is Türkiye’s leading mobility app, offering a variety of transportation services including ride-hailing, delivery, and a fleet of rental e-mopeds, e-bikes, and e-scooters, leveraging proprietary software systems and IoT infrastructure to strengthen its market position.
Cautionary Note on Forward-Looking Statements: The company notes that all statements related to the repurchase program are forward-looking and may be subject to various risks and uncertainties, indicating that actual results could differ significantly from expectations.

Turkish Court Rules Marti Engages in Unfair Competition

Jun 26 2026seekingalpha

Unfair Competition Ruling: A Turkish commercial court has ruled that Marti Technologies' ride-hailing business constitutes unfair competition, partially granting claims from local drivers and automobile trade associations, highlighting the importance of fair market practices.
Partial Rejection of Claims: While the court supported some claims, it rejected requests to block access to Marti's mobile app and website, allowing the company to continue its operations without interruption, which is crucial for maintaining service availability.
Operational Continuity Impact: Marti's ride-hailing, e-scooter, and e-moped services will remain operational, indicating the company's ability to sustain business stability amid legal challenges, which may help preserve customer trust and loyalty.
Stock Price Reaction: Following the ruling, Marti's stock fell 3% in pre-market trading, reflecting market concerns over legal risks and potentially impacting investor confidence in the company's future performance.

Marti Sets New Targets for 2026 Growth

Jun 12 2026Newsfilter

Significant User Growth: As of June 11, 2026, Marti's ride-hailing service has reached 4.30 million riders and 532 thousand registered drivers, surpassing its targets, indicating strong demand for mobility services in Turkey, which is expected to further drive revenue growth.
Surge in Driver Registrations: Over the past year, Marti's registered drivers increased by 68% to 532 thousand, with 351 thousand in Istanbul alone, far exceeding the city's 20 thousand taxis, showcasing Marti's competitive edge in urban mobility.
Market Expansion Strategy: Marti's ride-hailing operations now span 20 markets across Turkey, covering approximately 80% of the country's GDP, enhancing geographic diversification and laying the groundwork for future nationwide growth, with targets of 4.90 million riders and 580 thousand drivers by 2026.
Safety and User Satisfaction: Marti's drivers undergo formal background checks before acceptance, ensuring rider safety, and the average driver rating stands at 4.8 stars, reflecting high service quality that helps enhance customer loyalty and market share.