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Marti Technologies (MRT) investor relations material
Marti Technologies H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved strong operational momentum with a strategic shift to ride-hailing, launching monetization in October 2024 and dynamic pricing in January 2025, supported by app redesign and organizational restructuring.
Expanded operations to 10 cities, increasing the addressable market by 1.5x and covering half of Türkiye's population and nearly two-thirds of its GDP.
Achieved #1 position as the most downloaded urban mobility app in Türkiye, with 128.6M all-time rides and 6.4M unique riders as of June 30, 2025.
Organizational growth targeted ~260 employees by end of FY 2025, with new departments established to support ride-hailing scale.
Financial highlights
Revenue for H1 2025 reached $14.3M, up 70.4% from $8.4M in H1 2024, driven by ride-hailing monetization.
Adjusted EBITDA improved by $5.4M, from -$11.3M in H1 2024 to -$6.0M in H1 2025, with margin improving from (135)% to (42)%.
Net loss narrowed to $19.3M in H1 2025 from $21.9M in H1 2024; share-based compensation was $4.7M.
Cost of revenues decreased by 25.5% year-over-year, from $9.9M to $7.4M.
Gross profit margin turned positive at 49% in H1 2025, up from (18)% in H1 2024.
Outlook and guidance
FY 2025 revenue guidance reaffirmed at $34.0M, nearly double 2024 actuals.
Adjusted EBITDA expected to improve from $(19.3)M in 2024 to $2.3M in 2025.
Targeting 3.3M unique ride-hailing riders and 450K registered drivers by year-end 2025.
Guidance assumes continued ride-hailing growth and no new fleet investments for two-wheeled vehicles.
Continued investment in new city launches and ride-hailing team expansion.
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