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Marti Reports First-Ever Positive Operating Income as Q3 2026 Revenue Hits Record $24.7 Million and Gross Margin Expands to Record 81%

MRT
  • Marti Technologies reported a narrowed net loss of $1.0 million for Q3 2026, down 90.9% year-over-year, driven by disciplined expense management.
  • Adjusted EBITDA reached a record $5.6 million, representing a 22.7% margin and an improvement of $9.2 million compared to Q3 2025.
  • Revenue grew 128.1% year-over-year to $24.7 million, marking the third consecutive quarter of triple-digit growth in 2026.
  • The company achieved its first positive operating income of $2.7 million, a significant turnaround from the $8.8 million operating loss recorded in Q3 2025.
  • Gross profit margin expanded 1,416 basis points year-over-year to a record 81.5%, supported by a 176.0% increase in gross profit to $20.2 million.
  • Platform activity surged with 22.0 million trips (up 45.9% YoY) and 2.7 million unique platform consumers (up 54.1% YoY).
  • Marti operates in 40 cities across Türkiye, covering approximately 90% of national GDP, following a launch of ride-hailing services in 10 additional cities in October 2026.
  • Cash and cash equivalents increased to $15.2 million, with the company generating $1.0 million in positive operating cash flow for the second consecutive quarter.
  • The company is on track to meet full-year 2026 guidance of $85.0 million in revenue & $7.0 million in Adjusted EBITDA, having already exceeded the EBITDA target in the first nine months.
  • Marti is advancing autonomous mobility through partnerships with Tensor & CalmCar, with the first CalmCar vehicle arriving in Türkiye for closed-area testing in Istanbul.
  • Share repurchase authorization was increased to $5.0 million in September 2026, with approximately $3.5 million remaining available under the program.
  • Financial highlights include a net income of $1.2 million in Q3 2026 excluding $2.2 million in share-based compensation expenses.
  • Total operating expenses grew only 11.9% year-over-year despite 128.1% revenue growth, demonstrating substantial operating leverage.