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Marti Technologies (MRT)
:MRT
Earnings Data
Report Date
Apr 29, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-0.37Last Year’s EPS
-0.38Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Sep 30, 2024
|% Change Since: -4.43%
|Next Earnings Date:Apr 29, 2025
Earnings Call Sentiment|Neutral
Marti Technologies has shown significant growth in its ride hailing services, with promising revenue forecasts and operational efficiencies. However, the decrease in overall revenue and increased administrative costs present challenges. The company is focused on growth, leveraging its market leadership and technological advancements.Company Guidance
During the Marti Technologies, Inc. Full Year 2024 Earnings Conference Call, the company outlined their strategic focus on ride-hailing operations in Turkey, emphasizing a significant shift towards monetizing this service which commenced in October 2024. The company's efforts have led to substantial growth in both unique ride-hailing riders, which surged by 233% to 1.66 million, and registered drivers, which expanded by 146% to 262,000. This growth trajectory is expected to continue, with forecasts aiming for 2.15 million riders and 310,000 drivers by mid-2025. Marti's revenue for 2024 exceeded expectations, reaching $18.7 million, driven largely by the new monetization strategy, and they anticipate doubling this to $34 million in 2025. Additionally, Marti plans to achieve positive adjusted EBITDA in 2025, excluding further investments in ride-hailing growth. Operational efficiencies have been a focus, with a 10.5% reduction in costs for their two-wheeled electric vehicle service, supported by the acquisition of Zoba's AI-driven fleet optimization technology. The company currently dominates the Turkish market as the leading urban mobility app, serving over 109.4 million rides to 5.9 million unique riders since its inception, and plans to expand operations across more Turkish cities to capture a larger share of the $3 billion annual revenue opportunity in Turkey’s ride-hailing market.Ride Hailing Service Expansion and Monetization
Marti Technologies transitioned their focus to ride hailing services, monetizing them in October 2024 and implementing a dynamic pricing model in January 2025. This strategic shift has led to a 233% increase in unique ride hailing riders and a 146% increase in registered drivers in 2024.
Revenue Growth and Positive EBITDA Forecast
The company is on track to almost double its revenue from $18.7 million in 2024 to $34 million in 2025, with expectations to achieve positive adjusted EBITDA in 2025.
Operational Efficiency in Two-Wheeled Electric Vehicle Business
Operational efficiency measures led to a 10.5% reduction in the total cost of revenues year-over-year despite maintaining a similar fleet size. The acquisition of Zoba's AI technology improved vehicle deployment efficiency, doubling daily rides per vehicle.
Market Leadership and First-Mover Advantage
Marti is the number one urban mobility app in Turkey, with a first-mover advantage in ride hailing and the largest electric vehicle operator in the country.
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MRT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MRT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Apr 29, 2025 | $3.16 | $3.09 | -2.22% |
| Sep 30, 2024 | $1.97 | $1.98 | +0.51% |
| Apr 16, 2024 | $1.30 | $1.46 | +12.31% |
| Oct 13, 2023 | $0.71 | $0.65 | -8.45% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Marti Technologies (MRT) report earnings?
Marti Technologies (MRT) is schdueled to report earning on Apr 29, 2025, TBA Not Confirmed.
What is Marti Technologies (MRT) earnings time?
Marti Technologies (MRT) earnings time is at Apr 29, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MRT EPS forecast?
MRT EPS forecast for the fiscal quarter 2024 (Q4) is -0.37.
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