Marti Sets 3.8M Riders and 485K Drivers Target by March 2026
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 31 2025
0mins
Source: Newsfilter
- Significant User Growth: As of December 31, 2025, Marti's rider count reached 3.38 million, exceeding the target of 3.30 million, indicating strong demand for mobility services in Turkey, which is expected to further drive revenue growth.
- Driver Registrations Surge: The number of registered drivers grew by 26% from August to December 2025, reaching 450,000, demonstrating Marti's success in providing economic opportunities and enhancing its competitive position in the market.
- Market Expansion Strategy: Marti's services now span 20 markets across Turkey, covering approximately 80% of the country's GDP, reflecting nationwide demand growth and supporting the company's long-term development strategy.
- Enhanced Safety Measures: With an average driver rating of 4.8 stars and all drivers undergoing background checks, Marti not only boosts passenger safety but also enhances brand trust, which helps attract more users.
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Analyst Views on MRT
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.
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- 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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- Stock Buyback Plan: Marti Technologies announced a $2.5 million stock buyback, resulting in a 5% increase in share price, a move that not only boosts market confidence but also demonstrates the company's recognition of its own value and confidence in future growth.
- Market Opportunity: Marti Technologies is viewed as an early-stage investment opportunity, and with its rapid business expansion and increasing market demand, investors may focus on its long-term growth potential, particularly in technology innovation and market expansion.
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- Conference Call Details: Management will host an analyst and investor conference call on the same day at 3:30 p.m. Istanbul time, 1:30 p.m. London time, and 8:30 a.m. New York time, aimed at discussing the earnings report and addressing investor inquiries.
- Webcast Access: Investors can access the live webcast of the conference call via Marti's Investor Relations website, enhancing interaction and information sharing between the company and its investors.
- Company Background: Founded in 2018, Marti is Türkiye's leading mobility app, offering a variety of transportation services including ride-hailing, delivery, and rental of electric scooters, showcasing its competitiveness in the rapidly growing mobility market.
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- Adjusted Funds from Operations: The trust's adjusted funds from operations stood at only $0.01, reflecting liquidity pressures in the current market environment, which may impact future dividend policies.
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See More
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- Dramatic Margin Improvement: The gross profit margin improved from negative 15.5% to 61.1%, indicating substantial progress in operational efficiency, which is expected to enhance future profitability.
- User Base Expansion: Unique platform consumers increased by 44% year-over-year to 3.1 million, while ride-hailing users grew by 103% to 3.4 million, demonstrating the company's strong appeal in the urban mobility market.
- Effective Cost Control: Cost of revenues declined by 29% to $15.3 million, and general administrative expenses decreased by 43% to $28.1 million, showcasing the company's effectiveness in resource allocation and cost management, laying a solid foundation for future profitability.
See More
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- 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.
See More
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- Earnings Highlights: Marti Technologies reported a Q1 GAAP EPS of -$0.14, yet achieved revenues of $15.4 million, reflecting a remarkable 156.7% year-over-year growth, indicating strong market demand and business growth potential.
- Annual Revenue Guidance: The company is on track to reach a revenue target of $70 million for FY 2026, representing a 78.4% year-over-year increase, which, if achieved, will further solidify its position in the industry and attract investor interest.
- Stock Buyback Plan: Marti Technologies announced a $2.5 million stock buyback, resulting in a 5% increase in share price, a move that not only boosts market confidence but also demonstrates the company's recognition of its own value and confidence in future growth.
- Market Opportunity: Marti Technologies is viewed as an early-stage investment opportunity, and with its rapid business expansion and increasing market demand, investors may focus on its long-term growth potential, particularly in technology innovation and market expansion.
See More
Marti Technologies to Announce Q1 2026 Financial Results
- Earnings Announcement Schedule: Marti Technologies will release its financial and operational results for Q1 2026 before U.S. markets open on May 21, 2026, reflecting the company's commitment to transparency and investor communication.
- Conference Call Details: Management will host an analyst and investor conference call on the same day at 3:30 p.m. Istanbul time, 1:30 p.m. London time, and 8:30 a.m. New York time, aimed at discussing the earnings report and addressing investor inquiries.
- Webcast Access: Investors can access the live webcast of the conference call via Marti's Investor Relations website, enhancing interaction and information sharing between the company and its investors.
- Company Background: Founded in 2018, Marti is Türkiye's leading mobility app, offering a variety of transportation services including ride-hailing, delivery, and rental of electric scooters, showcasing its competitiveness in the rapidly growing mobility market.
See More
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- Earnings Highlights: Morguard Real Estate Investment Trust reported a GAAP EPS of $0.09 for Q1 2023, indicating a slight decline compared to the previous year, yet demonstrating some level of profitability.
- Adjusted Funds from Operations: The trust's adjusted funds from operations stood at only $0.01, reflecting liquidity pressures in the current market environment, which may impact future dividend policies.
- Revenue Trends: Q1 revenue reached $60.04 million, down 0.5% year-over-year, indicating challenges in rental income stability amid economic fluctuations, potentially affecting investor confidence.
- Market Outlook: Despite the current financial performance being modest, the long-term investment value of Morguard Real Estate Investment Trust remains to be seen, especially against the backdrop of a potential recovery in the real estate market.
See More
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- Repurchase Program Launched: Marti Technologies announced a new share repurchase program allowing for the buyback of up to $2.5 million of its Class A ordinary shares, which is expected to enhance shareholder value and boost market confidence.
- Ceiling Price Established: The Board set a ceiling price of $6.00 per share for repurchases, while the company's share price was $2.11 as of April 24, 2026, indicating the attractiveness and potential investment value of the buyback plan.
- Positive Market Reaction: Following the announcement of the repurchase program, Marti Technologies' stock traded 5% higher during pre-market on Monday, reflecting a positive market response and investor confidence in the initiative.
- Market Capitalization Context: With a current market cap of approximately $181 million, the implementation of the repurchase program is expected to further enhance the company's market performance and shareholder returns.
See More
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- Dramatic Margin Improvement: The gross profit margin improved from negative 15.5% to 61.1%, indicating substantial progress in operational efficiency, which is expected to enhance future profitability.
- User Base Expansion: Unique platform consumers increased by 44% year-over-year to 3.1 million, while ride-hailing users grew by 103% to 3.4 million, demonstrating the company's strong appeal in the urban mobility market.
- Effective Cost Control: Cost of revenues declined by 29% to $15.3 million, and general administrative expenses decreased by 43% to $28.1 million, showcasing the company's effectiveness in resource allocation and cost management, laying a solid foundation for future profitability.
See More
