Marti's Ride-Hailing Service Reaches 4.3M Riders, Exceeding Targets
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6 hours ago
0mins
Marti Technologies announced that as of June 11, Marti's ride-hailing service has reached 4.30M riders and 532,000 registered drivers, exceeding the June 30 targets of 4.3M riders and 530,000 registered drivers. Marti's number of ride-hailing riders grew 96% from June 11, 2025 to June 11, 2026. The number of registered drivers grew 68% during the same time period. The fast growth in both the rider and driver sides of Marti's ride-hailing marketplace demonstrates large demand for the service across Turkiye. The service intends to provide readily available, safe, and affordable rides for riders, while providing economic opportunities for drivers across the income spectrum. Encouraged by the growth in the rider and driver bases of its ride-hailing business, Marti has set targets for 4.9M riders and 580,000 registered drivers by September 30.
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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 Sets New Targets for 2026 Growth
- 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.
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.
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- 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
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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.
See More
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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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- 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.
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See More
Marti Sets New Targets for 2026 Growth
- 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.
See More
Marti Technologies Reports 156% Revenue Growth Year-Over-Year
- 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.
See More
Marti Technologies Reports Strong Q1 Earnings
- 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
Morguard Real Estate Investment Trust Q1 Earnings Report
- 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
Marti Technologies Initiates $2.5M Share Repurchase Program
- 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
