Marti Technologies (MRT) Q1 2026 earnings summary

Executive summary

• Achieved 156% year-over-year revenue growth to $15.4 million in Q1 2026, driven by ride-hailing, delivery adoption, and subscription package monetization across 20 cities.

• Gross profit margin expanded from 36.8% to 72%, with gross profit up 400% to $11.1 million year-over-year.

• Adjusted EBITDA improved by $3.1 million to $(0.5) million, nearing breakeven, with margin improving from (60)% to (3)% year-over-year.

• Total trips increased 93% to 16.2 million, and unique platform consumers grew 89% to 2.1 million year-over-year.

• Reaffirmed full-year 2026 guidance for $70 million revenue and $1 million Adjusted EBITDA.

Financial highlights

• Revenue grew 156% year-over-year to $15.4 million in Q1 2026; cost of revenues increased 13.8% to $4.3 million.

• Gross profit margin improved from 36.8% to 72%, with gross profit rising over four-fold to $11.1 million.

• Adjusted EBITDA loss narrowed from -$3.6 million in Q1 2025 to -$0.5 million in Q1 2026; margin improved from -60% to -3%.

• Net loss narrowed to $(7.4) million from $(10.1) million year-over-year, including $2.2 million share-based compensation.

• Cash and cash equivalents at quarter-end: $4.8 million.

Outlook and guidance

• On track to achieve 2026 revenue guidance of $70 million and positive $1 million Adjusted EBITDA.

• Revenue forecast for 2026 assumes no further monetization beyond existing cities; any additional monetization would be upside.

• June 30, 2026 targets: 4.3 million all-time unique ride-hailing riders and 530,000 registered drivers.