MRT 6-K SEC Filing Analysis

Latest settled — T+20d ⚠ clustered

MRT ▼ -3.30% at T+20d

LONG call ✗ call lost -3.30% · α vs SPY -9.60% · entry $2.12 → $2.05

Next anchor: T+60d in 6w

Last close $1.90 (close May 22) · -10.38% from $2.12 entry

Entry anchored
Apr 13, 03:59 PM ET
via Databento tick

T+1d

+3.77%

call +3.77% · α +3.00%

$2.20

settled 6w ago

T+5d

+3.77%

call +3.77% · α +2.38%

$2.20

settled 5w ago

T+20d

-3.30%

call -3.30% · α -9.60%

$2.05

settled 13d ago

T+60d

—

call — · α —

—

in 6w

Price Chart

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Executive Summary

Marti Technologies reported a breakout 2025 with revenue up 110% YoY to $39.2M, gross profit margin flipping from -15% to 61%, and Adjusted EBITDA improving to -$12.1M, all ahead of guidance. The company is on track to achieve profitability in 2026 with $70M revenue and positive Adjusted EBITDA targets.

Actionable Insight

Marti is demonstrating strong operating leverage with revenue scaling faster than costs. The company's path to profitability in 2026 appears credible given current momentum. Traders should monitor the delivery service expansion and driver/rider growth targets as key indicators of sustained execution.

Key Facts

Revenue for 2025 was $39.2M, up 110.3% YoY and 15% above guidance of $34.0M
Gross profit margin improved to 61.1% from -15.5% in 2024, driven by operational efficiencies and AI-enabled cost reductions
Adjusted EBITDA was -$12.1M, a $7.2M YoY improvement and $4.9M better than 2025 guidance of -$17.0M
Company reaffirmed 2026 guidance of $70.0M revenue and $1.0M positive Adjusted EBITDA
Cash balance increased to $7.8M in 2025 from $5.1M in 2024 despite net loss of $41.4M

Financial Impact

Revenue increased by $20.6M YoY to $39.2M; gross profit improved by $26.9M to $24.0M; net loss narrowed by $32.4M to $41.4M

revenuegrossProfitMarginnetLossadjustedEbitdacashFlow

Risk Factors

High leverage from $82.1M long-term convertible notes could pressure equity holders if conversion terms are unfavorable
Guidance depends on no additional fleet replacement investments, which could change if vehicle retirement accelerates
Geopolitical risks in Türkiye and competitive pressures in the mobility sector remain ongoing concerns

Market Snapshot

Exchange

NYSE

Sector

Services-Auto Rental & Leasing (No Drivers)

Documents Analyzed

This report is based on 5 SEC documents filed with EDGAR.

Document	Accession Number
6-K Filing (Primary)	0001213900-26-042972
Document: ea0286070-6k_marti.htm	0001213900-26-042972
Document: 0001213900-26-042972-index-headers.html	0001213900-26-042972
Document: 0001213900-26-042972-index.html	0001213900-26-042972
Document: 0001213900-26-042972.txt	0001213900-26-042972

5 reports for MRT

T+1T+5T+20T+60

Track record builds as more directional reports settle.

Filters

Reports for MRT — sortable, filterable
	Type				Now
May 21, 2026 2d ago	6-K BULLISH ★ 7/10	—	awaiting T+5	—	—
May 21, 2026 2d ago	6-K BULLISH ★ 7/10	—	awaiting T+5	—	—
Apr 27, 2026 26d ago	6-K NEUTRAL ★ 4/10	$2.13 $2.05	▼ −3.76%	▼ −4.16%	$1.90 (−10.80%)
Apr 13, 2026 5w ago	20-F BULLISH ★ 8/10	$2.12 $2.20	▲ +3.77%	▲ +2.38%	$1.90 (−10.38%)
Apr 13, 2026 5w ago	6-K BULLISH ★ 8/10	$2.12 $2.20	▲ +3.77%	▲ +2.38%	$1.90 (−10.38%)

US Market Status

Market Closed — Opens Tue (34h 52m)

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