Marti Technologies (NYSEAMERICAN:MRT) Announces Quarterly Earnings Results

Marti Technologies (NYSEAMERICAN:MRT) posted its quarterly earnings data on Monday. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.03, FiscalAI reports. The firm had revenue of $24.73 million for the quarter.

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

• Marti reported record revenue of $24.7 million, up 128% year over year, and record gross margin of 81.5%. Adjusted EBITDA rose to $5.6 million, operating income turned positive for the first time at $2.7 million, and the company generated nearly $1 million of free cash flow for a second consecutive quarter.
• The platform continued to expand: third-quarter trips grew 46% to 22 million and unique platform consumers rose 54% to 2.7 million. Marti entered 10 additional cities in October, bringing its footprint to 40 cities covering about 90% of Türkiye’s GDP, with 5.1 million all-time ride-hailing riders and 597,000 registered drivers at quarter-end.
• Marti reaffirmed 2026 guidance of $85 million in revenue and $7 million in adjusted EBITDA, even though nine-month adjusted EBITDA was already $8 million. Management cited typical fourth-quarter seasonality and plans for increased marketing investment to support 2027 growth.
• Ride-hailing monetization remains limited to roughly eight or nine cities out of 40, with no significant near-term increase in monetized cities or take rates expected. Management said new cities may take around two and a half years to reach the monetization stage.
• The company said it will issue 5 million commitment shares this quarter under its convertible-note facility, which was extended through July 2028. Its management incentive plan covers 10% of fully diluted shares, creating potential dilution for existing shareholders.

Marti Technologies Trading Up 4.8%

Shares of NYSEAMERICAN:MRT opened at $2.17 on Tuesday. The stock has a fifty day simple moving average of $2.00 and a two-hundred day simple moving average of $1.95. Marti Technologies has a 12-month low of $1.12 and a 12-month high of $2.59.

Marti Technologies declared that its board has authorized a share buyback plan on Thursday, September 10th that authorizes the company to repurchase $5 million in outstanding shares. This buyback authorization authorizes the company to buy up to 2.7% of its stock through open market purchases. Share buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

MRT has been the subject of several research reports. Citigroup reissued a “buy” rating on shares of Marti Technologies in a research report on Thursday, August 20th. Roth Capital set a $3.50 price target on Marti Technologies in a research report on Thursday, August 20th. Benchmark lifted their price target on Marti Technologies from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Finally, Cantor Fitzgerald reduced their price target on Marti Technologies from $2.40 to $2.20 and set a “neutral” rating on the stock in a research note on Monday, August 24th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $3.92.

Insider Buying and Selling

In other Marti Technologies news, Director Daniel Freifeld sold 350,000 shares of the business’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $2.02, for a total value of $707,000.00. Following the sale, the director directly owned 6,117,715 shares of the company’s stock, valued at approximately $12,357,784.30. The trade was a 5.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Hedge Funds Weigh In On Marti Technologies

An institutional investor recently raised its position in Marti Technologies stock. Arbiter Partners Capital Management LLC lifted its stake in Marti Technologies, Inc. (NYSEAMERICAN:MRT) by 24.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 286,254 shares of the company’s stock after purchasing an additional 56,319 shares during the quarter. Arbiter Partners Capital Management LLC owned 0.33% of Marti Technologies worth $573,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 20.71% of the company’s stock.

About Marti Technologies

Marti Technologies, Inc operates a technology-enabled urban mobility platform in Turkey. Through its mobile application, the company connects users with transportation options designed for short-distance travel and everyday urban journeys.

Marti’s services have included shared electric scooters, electric bicycles and mopeds, as well as ride-hailing services that connect passengers with drivers. The company’s platform is intended to provide convenient, app-based access to multiple mobility options within a single service.

Founded in 2018, Marti serves the Turkish market, with operations focused on major urban areas including Istanbul.