Marti Technologies (MRT) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 5, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F for FY2025, filed Apr 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the MRT SEC filings page.
Marti Technologies (MRT) reported $39.2M in revenue for fiscal year 2025, up 110.3% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Marti’s dominant mechanic is revenue expansion without gross-margin coverage, with cost cuts reducing losses amid balance-sheet dependence.
Across the latest two fiscal years, revenue more than doubled while gross margin fell to-9.8% ; the operating-margin recovery to-72.7% therefore reflects sharply lower SG&A and operating costs rather than improved gross economics. Operating cash flow improved to-$14.8M while free cash flow remained-$15.3M , so cost reductions have not yet produced self-funding operations.
Liabilities of
Net loss narrowed from
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Marti Technologies's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Marti Technologies held $7.8M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $14.8M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Marti Technologies scores 22/100 among other emerging companies.
Marti Technologies had 86M shares outstanding at the end of fiscal year 2025, against 63M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Marti Technologies scores 32/100 among other emerging companies.
Marti Technologies spent $3.0M on research and development in fiscal year 2025, which was 4.4% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Marti Technologies scores 22/100 among other emerging companies.
Marti Technologies reported revenue of $39.2M in fiscal year 2025, against $18.7M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Marti Technologies scores 76/100 among other emerging companies.
Marti Technologies's operations used $14.8M of cash in fiscal year 2025, against $25.1M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Marti Technologies scores 45/100 among other emerging companies.
Marti Technologies's cash, cash equivalents and investments came to $7.8M at the end of fiscal year 2025, against $96.9M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Marti Technologies scores 14/100 among other emerging companies.
Marti Technologies scores -9.28, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($175.0M) relative to total liabilities ($96.9M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Marti Technologies passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
Marti Technologies reported a net loss of $41.4M while operations used $14.8M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Marti Technologies reported an operating loss of $28.5M against $8.6M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
None of these metrics is reported for Q4 2025.
Cash & Balance Sheet
Marti Technologies held $7.8M in cash against $82.1M in long-term debt as of Q4 2025.
Not reported for Q4 2025.
Not reported for Q4 2025.
Margins & Returns
None of these metrics is reported for Q4 2025.
Capital Allocation
None of these metrics is reported for Q4 2025.
MRT Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
MRT Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2520-F | Q2'256-K | Q4'2420-F | Q2'2410-Q | Q4'2310-K | Q2'2310-Q | Q1'2310-Q | Q4'2210-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $29.8M+46.2% | $17.2M-31.1% | $20.4M-49.3% | $25.0M | $40.2M-1.6% | N/A | $150.5M+2.1% | $40.9M-72.3% |
| Current Assets | $13.9M+22.1% | $10.9M-23.0% | $11.4M-55.6% | $14.2M | $25.7M+25.6% | N/A | $181K-75.4% | $20.5M+2597.7% |
| Cash & Equivalents | $7.8M+51.6% | $4.2M-53.1% | $5.1M-73.5% | $9.0M+125.8% | $19.4M+85.0% | $4.0M+700.1% | $143K-76.3% | $10.5M+1618.3% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $2.0M-1.9% | $2.1M-5.7% | $2.0M-22.3% | $2.2M | $2.6M-21.6% | N/A | N/A | $3.3M |
| Accounts Receivable | $504K+147.6% | $758K+154.9% | $204K+8.1% | $297K | $188K-49.8% | N/A | N/A | $375K |
| Long-Term Investments | $0 | $0 | $0-100.0% | $0 | $5K-94.2% | $0 | $0 | $95K |
| Total Liabilities | $96.9M+18.4% | $90.4M+18.6% | $81.8M+12.2% | $76.2M | $72.9M+119.1% | N/A | $155.8M+3.7% | $33.3M-73.8% |
| Current Liabilities | $14.4M+27.1% | $11.2M-28.1% | $11.3M-35.3% | $15.5M | $17.5M+10.3% | N/A | $3.4M+126.2% | $15.9M+2146.7% |
| Non-Current Liabilities | $82.5M+17.0% | $79.2M+30.6% | $70.5M+27.2% | $60.7M | $55.4M+218.2% | N/A | $152.5M+2.5% | $17.4M-86.2% |
| Long-Term Debt | $82.1M+17.1% | $78.9M+31.1% | $70.1M+27.9% | $60.2M | $54.8M+234.6% | N/A | N/A | $16.4M |
| Total Equity | -$67.1M-9.2% | -$73.2M-43.0% | -$61.4M-87.9% | -$51.2M-893.8% | -$32.7M-530.3% | -$5.1M-52.4% | -$5.3M-87.2% | $7.6M-63.0% |
| Retained Earnings | -$180.9M-29.7% | -$158.8M-81.5% | -$139.5M-112.6% | -$87.5M | -$65.6M-67.4% | N/A | -$5.3M-87.2% | -$39.2M-1830.0% |
Not reported in any period shown, so not listed: Goodwill.
MRT Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
MRT Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Asset Turnover, FCF Margin.
Note: Shareholder equity is negative (-$67.1M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.97), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Marti Technologies MRT | FY2025 | $39.2M | -$41.4M | N/A | $175.0M | 35/100 |
| Wm Technology Inc MAPS | FY2025 | $174.7M | $2.0M | 1.1% | $45.4M | — |
| Digimarc Corporation DMRC | FY2025 | $33.9M | -$32.3M | -95.3% | $119.3M | 36/100 |
| X3 Holdings XTKG | FY2025 | $6.3M | -$26.2M | N/A | $1.1M | 27/100 |
| Asure Software Inc ASUR | FY2025 | $140.5M | -$13.1M | -9.3% | $268.0M | 42/100 |
| Egain Corp EGAN | FY2025 | $88.4M | $32.3M | 36.5% | $152.8M | 43/100 |
Where Marti Technologies Ranks
Frequently Asked Questions
What is Marti Technologies's annual revenue?
Marti Technologies (MRT) reported $39.2M in total revenue for fiscal year 2025. This represents a 110.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Marti Technologies's revenue growing?
Marti Technologies (MRT) revenue grew by 110.3% year-over-year, from $18.7M to $39.2M in fiscal year 2025.
Is Marti Technologies profitable?
No, Marti Technologies (MRT) reported a net income of -$41.4M in fiscal year 2025.
What is Marti Technologies's EBITDA?
Marti Technologies (MRT) had EBITDA of -$24.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Marti Technologies have?
As of fiscal year 2025, Marti Technologies (MRT) had $7.8M in cash and equivalents against $82.1M in long-term debt.
What is Marti Technologies's gross margin?
Marti Technologies (MRT) had a gross margin of -9.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Marti Technologies's operating margin?
Marti Technologies (MRT) had an operating margin of -72.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Marti Technologies's free cash flow?
Marti Technologies (MRT) recorded an outflow of $15.3M in free cash flow during fiscal year 2025. This represents a 39.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Marti Technologies's operating cash flow?
Marti Technologies (MRT) recorded an outflow of $14.8M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Marti Technologies's total assets?
Marti Technologies (MRT) had $29.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Marti Technologies's capital expenditures?
Marti Technologies (MRT) invested $485K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Marti Technologies spend on research and development?
Marti Technologies (MRT) invested $3.0M in research and development during fiscal year 2025.
What is Marti Technologies's current ratio?
Marti Technologies (MRT) had a current ratio of 0.97 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Marti Technologies's return on assets (ROA)?
Marti Technologies (MRT) had a return on assets of -139.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Marti Technologies's P/E ratio?
Marti Technologies (MRT) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $175.0M as of Sep 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Marti Technologies's price-to-sales ratio?
Marti Technologies (MRT) trades at 4.5x sales, its market capitalization divided by revenue of $39.2M revenue, FY2025. The market capitalization is $175.0M as of Sep 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Marti Technologies's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Marti Technologies (MRT) held $7.8M in cash, cash equivalents and investments, and reported an operating cash outflow of $14.8M over that year. Dividing the one by the other, the reported balance equals about 6 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Why is Marti Technologies's debt-to-equity ratio negative or not reported?
Marti Technologies (MRT) has negative shareholder equity of -$67.1M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Marti Technologies's Altman Z-Score?
Marti Technologies (MRT) has an Altman Z-Score of -9.28, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Marti Technologies's Piotroski F-Score?
Marti Technologies (MRT) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Marti Technologies's earnings high quality?
Marti Technologies (MRT) reported a net loss of $41.4M while operations used $14.8M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Marti Technologies cover its interest payments?
Marti Technologies (MRT) reported an operating loss of $28.5M against $8.6M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Marti Technologies?
Marti Technologies (MRT) scores 35 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.