Marti Technologies (NYSEAMERICAN:MRT) Issues Quarterly Earnings Results

Marti Technologies (NYSEAMERICAN:MRT) announced its earnings results on Wednesday. The company reported ($0.15) earnings per share for the quarter, FiscalAI reports. The company had revenue of $19.98 million during 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 Up 3.6%

Shares of MRT opened at $2.03 on Friday. The stock has a 50-day moving average of $1.69 and a two-hundred day moving average of $1.94. Marti Technologies has a one year low of $1.12 and a one year high of $2.75.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Alliance Global Partners started coverage on Marti Technologies in a report on Thursday, July 2nd. They issued a “buy” rating and a $4.00 price target for the company. Roth Capital set a $3.50 price objective on shares of Marti Technologies in a report on Thursday. Citigroup reaffirmed a “buy” rating on shares of Marti Technologies in a research report on Thursday. Benchmark increased their price objective on shares of Marti Technologies from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $2.40 target price on shares of Marti Technologies in a research note on Tuesday, May 26th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $3.98.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Marti Technologies stock. Arbiter Partners Capital Management LLC increased its position in shares of Marti Technologies, Inc. (NYSEAMERICAN:MRT) by 24.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 SEC filing. 20.71% of the stock is currently owned by institutional investors and hedge funds.

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.