Recent Updates — MRT
The Istanbul Regional Court of Appeals ruled in favor of Marti Technologies, dismissing unfair competition claims brought by Turkish drivers' and automobile trade associations. The court determined that the company operates as a hosting provider under Turkish Law No. 5651 rather than a carrier, concluding its activities do not constitute unfair competition or misleading advertising. While the decision is not final and plaintiffs may appeal to the Court of Cassation within two weeks, Marti believes this ruling removes the basis for enforcement proceedings against its services. The company's ride-sharing, electric vehicle, and delivery operations continue uninterrupted. Marti Technologies operates a multi-service mobility platform in Turkey.
Marti Technologies reported revenue of $35.4 million for the six months ended June 30, 2026, a 147.2% increase from $14.3 million in the prior year period. The company recognized an $8.3 million non-cash loss on debt extinguishment resulting from Amendment No. 2 to its April 2025 Note Subscription Agreement, which reduced the reset conversion rate multiplier for its 12.50% Convertible Senior Secured Notes due April 2029 from 1.65 to 1.05. Net loss widened to $19.9 million from $19.3 million in the same period last year, while Adjusted EBITDA turned positive at $2.4 million compared to a negative $6.0 million previously. The company also authorized a new share repurchase program for up to $2.5 million of Class A ordinary shares with a ceiling price of $6.00 per share. Marti Technologies operates in the technology and transportation industry, providing tech-enabled ride-hailing, delivery, and two-wheeled electric vehicle services to consumers in Türkiye.
Marti Technologies, Inc. reported second quarter 2026 results showing revenue increased 141% year-over-year to $20.0 million, driven by ride-hailing growth and platform monetization. The company achieved positive Adjusted EBITDA of $2.9 million for the first time, with gross profit margin expanding to 77%. Net loss widened to $12.5 million due to an $8.3 million one-time non-cash loss on debt extinguishment related to convertible note amendments. Marti increased its full-year 2026 revenue guidance to $85.0 million and Adjusted EBITDA guidance to $7.0 million. The company also announced a strategic partnership with Tensor to deploy autonomous vehicles on its platform in Türkiye. Marti Technologies, Inc. operates as a mobility super app providing ride-hailing, delivery, and electric vehicle rental services in Türkiye.
On July 13, 2026, Marti Technologies, Inc. announced a multi-year strategic partnership with Tensor to purchase and deploy Tensor autonomous vehicles on its mobility platform throughout cities in Türkiye. Marti Technologies, Inc. operates a mobility platform.