Marti Technologies (MRT)
:MRT
Want to see MRT full AI Analyst Report?
Top Page
Marti Technologies
(MRT)
Select Model
Select Model
Rating:53Neutral
Price Target:
$2.00
▼(-9.09% Downside)
Action:ReiteratedDate:04/15/26
The score is held back primarily by weak financial fundamentals (large losses, cash burn, and negative equity with debt). Offsetting this is a notably positive earnings-call outlook with strong revenue/gross margin momentum and guidance toward positive adjusted EBITDA, while technicals are mildly supportive but the longer-term trend remains challenged. Valuation provides limited support given the negative P/E and no dividend data.
Positive Factors
Revenue & Gross Margin Turnaround
A 110% revenue rebound to $39.2M combined with a gross margin swing to 61.1% indicates a structural shift toward higher‑margin services and improved unit economics. Sustained margin expansion reduces reliance on top‑line growth alone to reach positive EBITDA, improving long‑term cash flow prospects if scale persists.
Negative Factors
Negative Equity and High Leverage
A negative equity position and sizeable debt relative to small asset bases materially constrain financial flexibility. This capital structure increases refinancing and covenant risk, limits buffers for execution shocks, and raises the probability management must raise dilutive or costly capital if operational targets slip.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue & Gross Margin Turnaround
A 110% revenue rebound to $39.2M combined with a gross margin swing to 61.1% indicates a structural shift toward higher‑margin services and improved unit economics. Sustained margin expansion reduces reliance on top‑line growth alone to reach positive EBITDA, improving long‑term cash flow prospects if scale persists.
Read all positive factors
Marti Technologies (MRT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$176.39M
Dividend YieldN/A
Average Volume (3M)18.52K
Price to Earnings (P/E)―
Beta (1Y)0.88
Revenue Growth110.30%
EPS Growth57.62%
CountryUS
Employees442
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)N/A
Shares Outstanding86,042,725
10 Day Avg. Volume21,588
30 Day Avg. Volume18,522
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)-2.78
Price to Sales (P/S)4.75
P/FCF Ratio-12.22
Enterprise Value/Market Cap1.45
Enterprise Value/Revenue10.38
Enterprise Value/Gross Profit45.99
Enterprise Value/Ebitda-4.77
Forecast
1Y Price Target
$3.08Price Target Upside39.77% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Marti Technologies Business Overview & Revenue Model
Company Description
Marti Technologies Inc. provides urban transportation services to riders in Turkey. It also operates a mobility app that provides multiple transportation services to its riders; and operates a fleet of e-mopeds, e-bikes, and e-scooters. The compan...
How the Company Makes Money
Marti primarily generates revenue from (1) micromobility rentals and (2) fees earned from its ride-hailing/transportation marketplace. For micromobility, users pay per-ride charges (typically composed of an unlock/starting fee plus time- or distan...
Marti Technologies Key Performance Indicators (KPIs)
Marti Technologies Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
14
Very Negative
Cash Flow
19
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Mar 2023 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 24.58M | 39.24M | 18.66M | 20.03M | 24.99M | 17.00M |
| Gross Profit | 5.55M | 3.64M | -47.21M | -12.85M | -7.98M | -3.11M |
| EBITDA | -53.50M | -22.22M | -55.21M | -17.03M | -3.26M | -7.50M |
| Net Income | -71.29M | -41.45M | -73.88M | -33.81M | -14.25M | -14.47M |
Balance Sheet | ||||||
| Total Assets | 17.22M | 29.80M | 20.38M | 40.21M | 40.88M | 38.99M |
| Cash, Cash Equivalents and Short-Term Investments | 4.21M | 7.81M | 5.15M | 19.42M | 10.50M | 13.22M |
| Total Debt | 83.42M | 86.57M | 75.25M | 65.94M | 26.50M | 14.33M |
| Total Liabilities | 90.38M | 96.89M | 81.82M | 72.91M | 33.28M | 18.47M |
| Stockholders Equity | -73.16M | -67.09M | -61.44M | -32.70M | 7.60M | 20.52M |
Cash Flow | ||||||
| Free Cash Flow | -20.13M | -15.27M | -25.41M | -19.71M | -13.66M | -2.38M |
| Operating Cash Flow | -19.60M | -14.78M | -25.08M | -14.87M | -5.47M | 2.59M |
| Investing Cash Flow | -589.79K | -542.00K | -1.04M | -4.82M | -8.16M | -22.89M |
| Financing Cash Flow | 15.43M | 17.98M | 11.84M | 28.61M | 11.26M | 43.09M |
Marti Technologies Technical Analysis
Positive
2.20
Price Trends
2.06
Positive
2.16
Positive
2.32
Negative
Market Momentum
0.03
Negative
65.27
Neutral
88.89
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MRT, the sentiment is Positive. The current price of 2.2 is above the 20-day moving average (MA) of 2.05, above the 50-day MA of 2.06, and below the 200-day MA of 2.32, indicating a neutral trend. The MACD of 0.03 indicates Negative momentum. The RSI at 65.27 is Neutral, neither overbought nor oversold. The STOCH value of 88.89 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MRT.
Marti Technologies Risk Analysis
Marti Technologies disclosed 81 risk factors in its most recent earnings report. Marti Technologies reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 1 New Risks
1.
Market conditions, economic uncertainty or downturns could adversely affect our business, financial condition, operating results and our ability to consummate a Business Combination. Q1, 2023
Marti Technologies Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $175.18M | 18.37 | 3.07% | ― | 14.77% | -15.55% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
56 Neutral | $97.39M | -29.48 | -47.80% | ― | 14.52% | 30.37% | |
53 Neutral | $176.39M | ― | 65.90% | ― | 110.30% | 57.62% | |
52 Neutral | $112.96M | -4.92 | -16.00% | ― | 2.06% | -99.83% | |
51 Neutral | $55.39M | -6.29 | 3.65% | ― | -5.32% | -75.41% | |
49 Neutral | $89.50M | -0.04 | -127.56% | ― | 46.14% | -37083.89% |
* Technology Sector Average
MRT
Marti Technologies
2.05
-1.27
-38.25%
AEYE
AudioEye
7.83
-4.18
-34.80%
MAPS
WM Technology
0.35
-0.84
-70.76%
PERF
Perfect Corp
1.72
-0.18
-9.47%
TEAD
Teads Holding
0.92
-2.52
-73.20%
EXFY
Expensify
1.12
-1.80
-61.64%
Marti Technologies Corporate Events
Marti Technologies Doubles 2025 Revenue and Turns Gross Profit Positive Amid Nationwide Expansion
Apr 13, 2026
Marti Technologies reported that 2025 was a transformational year, with revenue for the 12 months to December 31, 2025 rising 110% year-on-year to $39.2 million, gross profit swinging from a loss to $24 million and margins improving from negative ...
Marti Technologies Unveils Shareholder Loyalty Program for Long-Term Retail Investors
Mar 9, 2026
On March 9, 2026, Marti Technologies, Inc., Türkiye’s leading mobility super app listed on the NYSE American, launched the Marti Shareholder Loyalty Program to reward long-term retail investors. The initiative ties shareholder status to...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.