Marti Technologies Inc (AMEX:MRT)

Q1 2026 Marti Technologies Inc Earnings Call Transcript

May 21, 2026 / 12:30 PM GMT

Release Date Price: $1.98 (-1.00%)

Transcript

Key Points

Positve

Marti Technologies Inc (MRT) reported a significant revenue growth of 156% year-over-year, reaching $15.4 million.
The company's gross profit margin improved substantially from 36.8% to 72%, indicating strong monetization and improved unit economics.
Marti Technologies Inc (MRT) is expanding its platform and services across Turkey, now operating in 20 cities and offering eight different services.
The ride-hailing service remains the primary growth engine, with a 101% year-over-year increase in unique ride-hailing riders.
The company is nearing break-even on adjusted EBITDA, showing a significant improvement from a negative $3.6 million to negative $0.5 million year-over-year.

Negative

Despite the revenue growth, Marti Technologies Inc (MRT) is still operating at a loss, with adjusted EBITDA at negative $0.5 million.
There is a noted seasonality in the ride-hailing business, with a decline in trips from Q4 to Q1, which could affect quarterly performance.
The company faces challenges in sustaining high gross profit margins due to variable costs like labor and insurance.
The expansion of the two-wheeled electric vehicle fleet is being decommissioned, which may impact future growth in this segment.
The company's growth targets rely heavily on existing city monetization, with no additional cities planned for monetization in 2026, potentially limiting revenue upside.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

MRT.A - Marti Technologies Inc
Q1 2026 Marti Technologies Inc Earnings Call
May 21, 2026 / 12:30PM GMT

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Presentation
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Unidentified_1 [1]
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Hello, everyone, and thank you for joining us for Marty Technologies' first-quarter 2026 conference call. Before we begin, I'd like to mention that today's earnings release and earnings presentation are available on Marty's Investor Relations website at ir.marty.tac, where you will also find links to our SEC filings, along with other information about Marty.

Joining me on today's call are Oz Alpin Aktum.

Marty's founder and CEO and John **** Durgan, Marty's co-founder, President and COO. Before we begin, I'd like to remind everyone that statements made on this call, as well as in today's earnings release and accompanying earnings presentation, contain forward-looking statements regarding our financial outlook,

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