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Marti Technologies Reports Strong Ride-Hailing Growth

Marti Technologies Reports Strong Ride-Hailing Growth

Marti Technologies Inc ( (MRT) ) has released its Q4 earnings. Here is a breakdown of the information Marti Technologies Inc presented to its investors.

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Marti Technologies Inc., a leading mobility super app in Türkiye, provides ride-hailing and two-wheeled electric vehicle services through its proprietary software systems and IoT infrastructure.

In 2024, Marti Technologies reported a revenue of $18.7 million, surpassing its guidance, despite a net loss of $73.9 million. The company saw significant growth in its ride-hailing services, with 1.66 million unique riders and 262 thousand registered drivers by year-end.

The company’s financial performance was bolstered by the monetization of its ride-hailing service, which began in October 2024. This led to an adjusted EBITDA of $(19.3) million, exceeding expectations. Marti also completed the acquisition of Zoba, enhancing its operational efficiency in the two-wheeled electric vehicle segment.

Looking ahead, Marti is optimistic about 2025, projecting $34 million in revenue and a positive adjusted EBITDA of $3 million. The company plans to continue investing in its ride-hailing service to capture a larger market share in Türkiye’s growing mobility sector.

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