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Marti Technologies, Inc. (MRT) reported very strong top-line growth for the three and six months ended June 30, 2026, while remaining loss-making and highly leveraged. Quarterly revenue rose to $20.0 million from $8.3 million a year earlier, and first-half revenue increased to $35.4 million from $14.3 million, driven mainly by ride-hailing expansion and the launch of platform subscription packages.
Trips grew to 18.78 million in Q2 (up 73.2%), unique platform consumers to 2.36 million (up 76.4%), and gross margin improved to 76.6% from 57.1%. Adjusted EBITDA turned positive at $2.9 million in Q2 versus a $2.4 million loss, and operating cash burn for the first half narrowed to $2.6 million. However, Q2 net loss widened to $12.5 million, reflecting a non-cash $8.3 million loss on debt extinguishment and higher interest expense. As of June 30, 2026, Marti held $12.5 million in cash and cash equivalents, offset by $102.4 million in long-term financial liabilities and a stockholders’ deficit of $83.8 million. The company disclosed it has remaining undrawn convertible note commitments and concluded it has adequate liquidity for the next twelve months.
Marti Technologies, Inc. (MRT), Türkiye’s leading mobility super app, reported a record second quarter ended June 30, 2026, with revenue of $19.99 million, up 140.7% year-over-year, driven by rapid ride-hailing growth and higher platform monetization. Gross profit rose to $15.30 million, expanding gross margin to 77% from 57%.
The company reported its first quarter of positive Adjusted EBITDA of $2.91 million, a 15% Adjusted EBITDA margin versus a loss a year earlier, and raised full-year 2026 guidance to $85.0 million revenue and $7.0 million Adjusted EBITDA. Trips grew 73.2% to 18.78 million and all-time unique ride-hailing riders increased 94.8% to 4.442 million. Despite this, Marti recorded a GAAP net loss of $12.50 million in Q2 2026, including an $8.32 million loss on debt extinguishment, and continues to carry negative stockholders’ equity of $(83.82) million and long-term financial liabilities of $102.44 million as of June 30, 2026.
Marti Technologies, Inc. has entered into a multi-year strategic partnership with Tensor, a developer of personal autonomous vehicles, to purchase and deploy Tensor Level 4 autonomous vehicles on Marti’s mobility platform in cities across Türkiye. After launch, Marti users will be able to hail Tensor autonomous vehicles directly through the Marti app.
Marti currently provides ride-hailing services in 20 cities across Türkiye, covering approximately 80% of the country’s GDP, and serves about 7.8 million all-time unique platform consumers. The collaboration aims to leverage Marti’s existing operations, infrastructure, and user base with Tensor’s autonomous vehicle technology, including its Robocar platform, vertically integrated compute and sensor stack, and over-the-air update capabilities.
Healey Kerry Murphy reported acquisition or exercise transactions in this Form 4 filing.
Marti Technologies director Healey Kerry Murphy received an equity grant as part of regular board compensation. The filing shows an award of 3,732 fully vested Class A Ordinary Shares issued under the company’s 2023 Incentive Award Plan instead of a cash retainer for second-quarter 2026 board service.
After this grant, Murphy directly holds 240,134 Class A Ordinary Shares. This total includes 36,764 shares underlying restricted stock units that vest on the earlier of the company’s 2026 annual general meeting of shareholders or December 24, 2026, as long as board service continues.
Lute Douglas reported acquisition or exercise transactions in this Form 4 filing.
Marti Technologies director Lute Douglas received an equity grant as part of regular board compensation. Douglas was awarded 3,732 fully vested Class A Ordinary Shares under the company’s 2023 Incentive Award Plan in lieu of the cash retainer for second quarter 2026 board service.
Following this grant, Douglas directly holds 199,290 Class A Ordinary Shares. This figure includes 36,764 shares underlying restricted stock units that are scheduled to vest on the earlier of the company’s 2026 annual general meeting of shareholders or December 24, 2026, subject to continued service.
Freifeld Daniel reported acquisition or exercise transactions in this Form 4 filing.
Marti Technologies director Daniel Freifeld received additional equity compensation rather than buying shares on the market. He was granted 20,261 fully vested Class A Ordinary Shares under the 2023 Incentive Award Plan in lieu of his cash retainer for second quarter 2026 board service. After this award, he holds 982,442 Class A Ordinary Shares, including 74,580 shares underlying restricted stock units that vest at the earlier of the 2026 annual general meeting of shareholders or December 24, 2026, subject to continued service.
Spiro Alex reported acquisition or exercise transactions in this Form 4 filing.
Marti Technologies director equity grant. Director Alex Spiro received 2,666 fully vested Class A Ordinary Shares on June 30, 2026 as payment in shares instead of his cash retainer for second-quarter 2026 board service, under the 2023 Incentive Award Plan.
After this award, he holds 56,614 Class A Ordinary Shares in total, including 26,260 shares underlying restricted stock units that vest on the earlier of the company’s 2026 annual general meeting of shareholders or December 24, 2026, subject to continued service.
Ugur Agah reported acquisition or exercise transactions in this Form 4 filing.
Marti Technologies director Ugur Agah received 3,199 fully-vested Class A Ordinary Shares as compensation in lieu of his cash retainer for second-quarter 2026 board service under the 2023 Incentive Award Plan. After this grant, he holds 392,039 Class A shares, including 31,512 underlying restricted stock units that vest at the earlier of the 2026 annual general meeting or December 24, 2026, subject to continued service.
Marti Technologies, Inc. provided an update on its ongoing share repurchase program. Since the program began on January 10, 2024, the company has repurchased 274,200 MRT ordinary shares at an average price of $2.25 per share, for a total cash outlay of $618,296.
The program authorizes up to $2.5 million of repurchases, is subject to a ceiling price of $6.00 per share, and is scheduled to run through October 26, 2026. Management notes that future repurchases and their timing remain subject to various factors and the usual forward-looking risks.
Marti Technologies, Inc. reports that the Istanbul 14th Commercial Court of First Instance has partially ruled against its subsidiary’s ride-hailing business, finding that the ride-hailing service constitutes unfair competition under the Turkish Commercial Code. The court rejected requests to block access to the company’s website and mobile apps and found no unfair competition in its e-scooter and e-moped services, so all services, including ride-hailing, continue operating without interruption. Marti plans to appeal this decision to the Istanbul Regional Court of Appeals within the statutory two-week period after it receives the court’s reasoned decision.