Marti Technologies, Inc. (MRT) AI Stock Analysis

Headquartered in Istanbul, Turkey, Marti Technologies Inc. is a provider of urban transportation solutions catering to riders across the country. Established in 2018, the company operates an innovative mobility app that connects commuters to a fleet of e-mopeds, e-bikes, and e-scooters for eco-friendly travel within urban environments. Central to its mission is the integration of technology and transportation to offer efficient, reliable, and sustainable mobility services aimed at reducing carbon emissions. With 473 employees, the company focuses on continuous innovation and strategic expansion in Turkey and beyond.

Revenue expanded from $17.0M in FY2021 to $25.0M in FY2022, before dropping to $20.0M in FY2023 and $18.7M in FY2024. In FY2025, revenue rebounded by 110.3% to $39.2M, reflecting a 5-year revenue CAGR of 32.1% from FY2020. Gross margin turned positive at 9.3% in FY2025 after reaching -253.0% in FY2024. Net loss widened from -$837,116 in FY2022 to -$73.9M in FY2024, before narrowing to -$41.4M in FY2025. Over the trailing twelve months, revenue reached $60.3M with an operating margin of -0.7% and a profit margin of -69.8%. In the latest quarter ended June 30, 2026, quarterly revenue surged 140.7% year-over-year.

As of June 30, 2026, Marti Technologies held $12.5M in cash and short-term investments alongside total debt of $107.0M, resulting in net debt of $94.5M. The company reported total assets of $32.4M and negative shareholders' equity of -$83.8M, alongside a current ratio of 1.35. Cash flows remained negative, with operating cash flow of -$14.8M and free cash flow of -$15.3M in FY2025. During FY2025, capital expenditures were $485,000, while share buybacks totaled $368,000. Over five years, the share count increased by 145.5%.

MRT last closed at $1.83 on October 16, 2026, representing a market capitalization of $158.5M and an enterprise value of $266.0M. The stock trades at a forward P/E of 49.5x, well above the 18.8x median of its US-listed Technology peers. Its EV/EBITDA stands at 17.4x compared to the peer median of 16.6x, while its price-to-sales of 2.6x sits below the peer median of 2.8x. Over the past year, the shares returned -18.7% compared to a 16.8% return for the S&P 500 (SPY). Over five years, the stock fell 81.4% while the S&P 500 gained 83.0%.

Wall Street coverage consists of 2 Strong Buy, 1 Buy, and 1 Hold ratings. The mean price target is $5.04, which is 175.4% above the last close of $1.83. For the fiscal year ending December 31, 2026, analysts estimate an EPS of -$0.30 on revenue of $85.0M. For the next fiscal year, 4 analysts forecast EPS of $0.02 and revenue of $135.7M, representing revenue growth of 59.7%. Marti Technologies beat EPS estimates in 1 of the last 4 quarters. The next earnings date is November 18, 2026.

This page is an AI-written research summary of Marti Technologies, Inc. (MRT). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: MRT income statement, MRT balance sheet, MRT key metrics, MRT analyst forecast, MRT chart. See the MRT stock overview for the latest quote and news.