Marti Technologies (MRT) H1 2026 earnings summary

Executive summary

• Achieved record Q2 2026 with 141% year-over-year revenue growth to $20.0 million and gross profit margin expanding to 77%.

• Positive Adjusted EBITDA of $2.9 million for the first time, a $5.3 million YoY improvement, reflecting strong platform monetization and operating leverage.

• Ride-hailing expanded to 30 cities, now covering 85% of Turkey's GDP, with strong adoption in both Istanbul and non-Istanbul markets.

• Delivery service adoption accelerated, especially in Istanbul, driving higher engagement and better economics.

• Announced strategic partnership with Tensor to deploy autonomous vehicles.

Financial highlights

• Revenue grew 141% YoY to $20.0 million in Q2 2026; gross profit up 223% YoY to $15.3 million and margin reached a record 77%.

• Adjusted EBITDA improved to $2.9 million from a loss of $2.4 million YoY; margin reached 15%.

• Net loss was $12.5 million, including a one-time $8.3 million non-cash loss on debt extinguishment; excluding this, net loss was $4.2 million.

• Cash and cash equivalents increased to $12.5 million as of June 30, 2026, up from $7.8 million at year-end 2025.

• Personnel, depreciation, and lease expenses declined significantly as a percentage of revenue.

Outlook and guidance

• Full-year 2026 revenue guidance raised to $85 million, targeting 116.6%–117% YoY growth.

• Adjusted EBITDA guidance increased to $7 million for 2026, marking the first full year of positive Adjusted EBITDA.

• No new city monetization assumed in guidance; growth driven by existing city volume.

• Q2 adjusted EBITDA of $2.9 million suggests full-year target is within reach even without further growth.

• September 2026 targets reaffirmed: 4.9 million unique ride-hailing riders and 580,000 registered drivers.