Marti Doubles Revenue, Achieves 61% Gross Margin in Breakout Year…

Event summary

Revenue surged 110% YoY to $39.2M, exceeding guidance by 15%
Gross profit margin swung from -15% to 61%, a 7,661 basis point improvement
Unique ride-hailing riders grew 103% YoY, reaching 3.8M by March 2026
Adjusted EBITDA loss narrowed by $7.2M to $(12.1)M
Expanded nationwide footprint to 20 cities covering 80% of Türkiye's GDP

The big picture

Marti's transformation from a loss-making platform to one with positive gross margins signals a critical inflection point in Türkiye's mobility tech sector. The company's ability to monetize its driver network through ride-hailing and delivery services positions it as a key player in a market with significant untapped potential, particularly as urbanization and digital adoption continue to grow. The strategic pivot toward operational efficiency and disciplined cost management sets Marti apart in a competitive landscape.

What we're watching

Profitability Pathway: Whether Marti can sustain its gross margin improvement while scaling delivery services and maintaining driver network utilization.
Market Expansion: The pace at which Marti can penetrate high-growth regional markets beyond Istanbul, Ankara, Izmir, and Antalya.
Execution Risk: How effectively Marti integrates cross-service synergies while targeting positive Adjusted EBITDA for 2026.