Marti Technologies Stock Price, News & Analysis

Marti Technologies (NYSE American: MRT), Türkiye's leading mobility super app and ride-hailing operator, has announced its investment plan for 2025-2026. The plan focuses on two key initiatives: expanding into six new cities (Bursa, Konya, Adana, Kocaeli, Mersin, and Kayseri) and growing its ride-hailing team.

The expansion will increase the company's service coverage from 28.8 million to 42.2 million people, representing a 1.5x growth in population served. To facilitate growth in new markets, Marti will waive driver subscription fees in these cities for 2025. The company also plans to expand its ride-hailing team from 180 to approximately 260 people, focusing on technology, product, and business operations.

While maintaining its 2025 revenue forecast of $34.0 million, Marti has revised its adjusted EBITDA forecast from $3.0M to -$17.0M to accommodate these investments.

Marti Technologies (NYSE American: MRT), Türkiye's leading mobility super app, has appointed Co-founder and President Cankut Durgun to the additional role of Chief Operating Officer, effective June 12, 2025. In his expanded position, Durgun will maintain his leadership of strategic initiatives while taking on responsibility for daily operations, focusing on scaling the company's ride-hailing and two-wheeled electric vehicle operations. Durgun, who co-founded Marti in 2018, brings significant experience from his previous roles as co-founder and general partner at venture capital firms Aslanoba Capital and Romulus Capital. He holds a BS in Economics and Management Science from MIT and an MBA from Stanford University.

Marti Technologies (NYSE: MRT), Türkiye's leading mobility super app, has surpassed its June 30, 2025 targets ahead of schedule, reaching 2.15 million riders and 314,000 registered drivers by June 3, 2025. The company demonstrated strong growth with rider numbers increasing 12.7% and driver numbers growing 8.3% from March to June 2025. In Istanbul alone, Marti has 241,000 registered drivers, significantly outnumbering the city's 20,000 taxis by 12 times. The company maintains high service standards with drivers undergoing formal background checks and achieving an average rating of 4.8/5 stars. Setting ambitious new targets, Marti aims to reach 2.50 million riders and 350,000 registered drivers by September 30, 2025. 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 the filing of its annual report on Form 20-F with the SEC for the fiscal year ended December 31, 2024. The report, which includes the company's financial results, is now accessible on Marti's investor relations website under the "Financial Info" section at https://ir.marti.tech/. Shareholders can also request a free hard copy of the complete financial statements.

Marti Technologies (NYSE: MRT), Türkiye's leading mobility super app, has appointed Cenk Özeker as its new Chief Financial Officer, effective May 14, 2025. Özeker brings over 25 years of senior finance and operational leadership experience across Europe and Türkiye. He previously served as Managing Director at Newport Shipping UK (2021-2024) and Icron Software in Amsterdam (2019-2021), and held senior positions at prominent companies including Pepsi, Beymen, H.O. Sabancı Holding, and Unilever. Özeker replaces former Interim CFO Deniz Terlemez and will focus on supporting Marti's growth, operational excellence, and shareholder value creation.

Marti, Türkiye's leading mobility super app (NYSE: MRT), reported its 2024 full-year results with significant growth in ride-hailing services. The company achieved $18.7M in revenue and Adjusted EBITDA of $(19.3)M, surpassing its 2024 guidance.

Key highlights include:

• 1.66M unique ride-hailing riders and 262,000 registered drivers by year-end
• Total rides increased 44.6% to 31.71M across all services
• Started monetizing ride-hailing through driver subscription packages in October 2024
• Launched dynamic pricing in January 2025

The company projects $34.0M in revenue and $3.0M in Adjusted EBITDA for 2025. Marti estimates a potential $3 billion annual revenue opportunity in the ride-hailing market, based on Istanbul's current 800,000 daily taxi trips and expected 63% growth following ride-hailing introduction. The company also acquired Zoba, an AI-powered fleet optimization platform, to enhance operational efficiency.

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.