Marti Technologies (NYSEAMERICAN:MRT) Issues Earnings Results

Marti Technologies (NYSEAMERICAN:MRT) issued its earnings results on Wednesday. The company reported ($0.15) EPS for the quarter, FiscalAI reports. The firm had revenue of $19.98 million for the quarter.

Here are the key takeaways from Marti Technologies’ conference call:

• Marti reached positive adjusted EBITDA for the first time, at $2.9 million versus a $2.4 million loss a year earlier. Revenue rose 141% year over year to nearly $20 million, while gross margin expanded to a record 77% as costs grew more slowly than revenue.
• Management raised its 2026 outlook to $85 million of revenue and $7 million of positive adjusted EBITDA, citing stronger-than-expected trip growth, improving margins, and operating leverage. Executives said the guidance does not assume monetization of newly launched cities.
• The ride-hailing network continued expanding, with 4.4 million all-time riders and 544,000 registered drivers at quarter-end. Marti now operates in 30 cities covering approximately 85% of Turkey’s GDP, although only seven cities are currently monetized and the newest launches may not be monetized until 2027 or later.
• Cross-service adoption is improving as delivery complements ride hailing, particularly in Istanbul. Multi-service consumers and drivers generate substantially more trips and revenue than single-service users, and management plans to expand parcel delivery beyond Istanbul before eventually adding merchant integrations.
• Marti is pursuing autonomous mobility through a multi-year Tensor partnership and a broader Turkish autonomous-vehicle alliance, but near-term efforts remain focused on proving safety and technology through pilots. Management emphasized supply constraints, regulatory timing, vehicle economics, and a cautious approach to major capital commitments.

Marti Technologies Stock Down 2.0%

Shares of MRT stock opened at $1.96 on Thursday. The stock’s 50-day moving average is $1.68 and its 200 day moving average is $1.94. Marti Technologies has a 1-year low of $1.12 and a 1-year high of $2.75.

Institutional Trading of Marti Technologies

An institutional investor recently raised its stake in Marti Technologies stock. Arbiter Partners Capital Management LLC grew its position in Marti Technologies, Inc. (NYSEAMERICAN:MRT) by 24.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 286,254 shares of the company’s stock after buying an additional 56,319 shares during the period. Arbiter Partners Capital Management LLC owned 0.33% of Marti Technologies worth $573,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 20.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on MRT shares. Citigroup restated a “neutral” rating on shares of Marti Technologies in a report on Tuesday, May 26th. Alliance Global Partners started coverage on Marti Technologies in a research note on Thursday, July 2nd. They set a “buy” rating and a $4.00 price target on the stock. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $2.40 price objective on shares of Marti Technologies in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $3.47.

Marti Technologies Company Profile

Marti Technologies Inc is a mobility app, offering multiple transportation services to its riders. Marti operates a ride-hailing service that matches riders with car, motorcycle, and taxi drivers, and operates a large fleet of rental e-mopeds, e-bikes, and e-scooters. All of Marti’s offerings are serviced by proprietary software systems and IoT infrastructure.