Welcome to our dedicated page for Marti Technologies news (Ticker: MRT), a resource for investors and traders seeking the latest updates and insights on Marti Technologies stock.
Marti Technologies Inc (MRT) delivers electric urban mobility solutions through its integrated fleet of e-mopeds, e-bikes, and e-scooters powered by proprietary IoT systems. This dedicated news hub provides investors and industry observers with verified updates on corporate developments, financial performance, and technological advancements.
Access real-time announcements including quarterly earnings, strategic partnerships, fleet expansion initiatives, and sustainability progress. Our curated repository ensures transparent access to press releases, regulatory filings, and operational milestones directly from Marti Technologies.
Key coverage areas include technology innovations in vehicle connectivity, market expansion updates across urban centers, and financial disclosures critical for informed analysis. Bookmark this page for streamlined tracking of MRT's evolving position in the competitive micromobility sector.
Marti Technologies (NYSE American: MRT), Türkiye's leading mobility super app, has scheduled the release of its full year 2024 financial and operational results before U.S. markets open on Tuesday, April 29, 2025.
The company will host an analyst and investor conference call and live webcast to discuss the results at 3:30 p.m. Istanbul / 1:30 p.m. London / 8:30 a.m. New York time on the same day. The presentation materials will be available on the Marti Investor Relations website.
Marti Technologies (NYSE: MRT), Türkiye's leading mobility super app, has surpassed its March 31, 2025 targets ahead of schedule, reaching 1.91 million riders and 290,000 registered drivers in its ride-hailing service as of March 25, 2025.
The company demonstrated strong growth with an 18.6% increase in riders and 13.9% increase in drivers from December 15, 2024 to March 25, 2025. In Istanbul alone, Marti has 225,000 registered drivers, significantly outnumbering the city's 20,000 taxis by a factor of 11.
Setting new ambitious targets, Marti aims to reach 2.15 million riders and 310,000 registered drivers by June 30, 2025. The company maintains high service standards with drivers undergoing formal background checks and achieving an average rating of 4.8/5 stars. According to McKinsey & Company, Türkiye's taxi market size was estimated at $9-12 billion in 2021, with potential growth to $15-20 billion by 2030 under their "Disruptive Scenario."
Marti Technologies (NYSE American: MRT), Türkiye's leading mobility super app, has announced an extension to its share repurchase program. The company's Board of Directors has authorized a six-month extension allowing repurchases of up to $2.5 million of outstanding Class A ordinary shares until October 9, 2025.
The program, initially launched on January 10, 2024, includes an amendment to increase the ceiling price from $5.00 to $6.00 per share. As of March 21, 2025, MRT's share price stood at $2.87. The repurchases may be conducted through private negotiations or open-market transactions, complying with securities laws including Rule 10b-18.
The Board retains discretion to review, extend, increase, suspend, or discontinue the program, with specific timing and amount of repurchases determined by management based on factors including intrinsic value assessment, market conditions, liquidity, and business strategy.
Marti Technologies (NYSE American: MRT) has launched its Safety Academy, a comprehensive initiative to enhance rider safety and promote responsible mobility practices. The program includes online safety training courses, best practice guides, and certification tests.
The company implements a holistic safety approach by conducting in-house vehicle repairs, maintenance, and software development. Key safety features for their electric vehicles include reinforced chassis, electronic brake assist, controlled acceleration systems, non-slip bases, and GPS tracking.
For its ride-hailing business, Marti has implemented several safety measures including background checks, in-app driver and vehicle verification, live location sharing, GPS tracking, and an emergency panic button connecting riders to their 24/7 call center support.
Marti Technologies (NYSE American: MRT), Türkiye's leading mobility super app, has launched a dynamic pricing model for its ride-hailing service. The new system adjusts fares in real-time based on supply and demand, aiming to improve service efficiency and user satisfaction.
The implementation began in Istanbul and is being rolled out nationwide. This launch comes three months after Marti started monetizing its ride-hailing service, where it remains the only at-scale operator in Türkiye.
Marti has projected revenue of $34.0 million for 2025, representing a 2.1x increase from its 2024 target of $16.6 million. The company expects the dynamic pricing implementation to further positively impact revenue.
Marti Technologies (NYSE American: MRT), Türkiye's leading mobility super app, announced the election of Alex Spiro to its Board of Directors as a Class II director at the Company's 2024 annual general meeting. Spiro, a partner at Quinn Emanuel Urquhart & Sullivan LLP, brings significant experience advising innovative growth companies. He currently serves as Chairman of Glassbridge Enterprises and is a board member for various innovative companies. A Harvard Law School graduate and former prosecutor, Spiro continues to teach at Harvard and has previously directed an autism children's program at McLean Hospital. The company's CEO expressed confidence in Spiro's ability to contribute to Marti's mission, while Spiro indicated support for the company's goal to achieve profitability in 2025.
Marti Technologies (NYSE American: MRT) has exceeded its December 2024 targets ahead of schedule, reaching 1.61 million riders and 255,000 registered drivers by December 15, 2024. The company's ride-hailing service demonstrated strong growth with a 15% increase in riders and 14% increase in drivers from September 30 to December 15, 2024.
In Istanbul, Marti has 203,000 registered drivers, ten times more than the city's taxi fleet. The company began monetizing its ride-hailing service in October 2024 and projects $34.0 million in revenue and $3.0 million in adjusted EBITDA for 2025, up from 2024 targets of $16.6 million revenue and $(22.5) million adjusted EBITDA. McKinsey estimates Türkiye's potential ride-hailing market could reach $15-20 billion by 2030.
Marti Technologies (NYSE American: MRT), Türkiye's leading mobility super app, has announced its financial guidance for 2025, projecting $34.0 million in revenue and $3.0 million in adjusted EBITDA. This represents a 2.1x revenue growth from their 2024 target of $16.6 million and a significant improvement in adjusted EBITDA from $(22.5) million in 2024. The company expects to achieve positive free cash flow in 2025. This outlook follows Marti's October 2024 announcement of monetizing its ride-hailing service, where it operates as the only at-scale provider in the country.
Marti Technologies (NYSE American: MRT), Türkiye's leading mobility super app, has released its 2023 Sustainability Report. The company's sustainability strategy, 'Move Forward. Together,' focuses on three pillars: Smarter Mobility, Cleaner Cities, and Safer Rides. In 2023, Marti's operations helped avoid approximately 941 tons of CO2 emissions, equivalent to the absorption of 43,000 fully grown trees. Their e-mopeds, e-bikes, and e-scooters achieved CO2 emission reductions of 46%, 37%, and 21% respectively compared to other urban transportation options.
The company aims for net-zero Scope 1 and 2 emissions by 2030 and achieved a 100% recycling rate in 2023, processing 60.5 tons of materials. Notably, Marti reached its 0% landfill rate goal two years ahead of schedule.
Marti Technologies (NYSE American: MRT), Türkiye's leading mobility super app, has appointed Deniz Terlemez as Interim Chief Financial Officer, effective November 1, 2024, succeeding Oguz Erkan. Terlemez, previously serving as Finance Director, brings over 15 years of executive finance experience. His background includes roles at Reef Technology as Senior Finance Manager, Vestel Companies as Group Reporting and Audit Manager, and Seaboard as Financial Controller. The transition comes as the company continues to scale its ride-hailing business monetization efforts, building upon the infrastructure established under Erkan's leadership.
