Technology · Software - Application
Price
$1.31
Market Cap
$112.7M
Employees
442
Beta
0.29
Avg Volume
28,509
CEO
Oguz Alper Oktem
Business Description
Marti Technologies Inc. (MRT), headquartered in Istanbul, Turkey, specializes in urban mobility. The company provides city-dwellers across Turkey with a range of transportation solutions via its proprietary mobile application. This platform offers access to a diverse fleet of shared electric vehicles, including e-mopeds, e-bikes, and e-scooters. Marti Technologies was established in 2018.
Business History
Price Overview
Last updated: Jun 30, 2026 8:34am (just now)$1.31
-0.21 (-13.82%)
Day Range
$1.29 – $1.53
52-Week Range
$1.12 – $3.11
50-Day MA
$1.92
200-Day MA
$2.15
Volume
110,567.00
Analyst Price Targets
Low
$2.40
Consensus
$3.20
High
$4.00
(4 analysts)
Share Structure
Outstanding
86,042,700.00
Float
29,187,060.00
Free Float
33.9%
Moderate free float
— 33.9% of shares trade freely, ~66.1% held by insiders/institutions
Reasonable but insiders still hold a significant stake. This can be positive (skin in the game) but may limit liquidity during sell-offs.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-2.47
Stock Price: $1.31
EPS (Diluted): -0.53
EPS (Diluted): -0.53
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
-2.78
Stock Price: $1.31
Total Equity: -$67.09M
Shares: 78,705,000
Total Equity: -$67.09M
Shares: 78,705,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
-6.40
Market Cap: $112.72M
Total Debt: $85.81M
Cash: $7.81M
EBITDA: -$22.22M
Total Debt: $85.81M
Cash: $7.81M
EBITDA: -$22.22M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$265.3M
Market Cap: $112.72M
Total Debt: $85.81M
Cash: $7.81M
Total Debt: $85.81M
Cash: $7.81M
P/S Ratio (Price per dollar of revenue)
APIStock Price / Revenue Per Share
4.75
Stock Price: $1.31
Revenue: $39.24M
Shares: 78,705,000
Revenue: $39.24M
Shares: 78,705,000
EV/Sales (Total value vs revenue — works when P/E can't)
API6.76
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
9.3%
Gross Profit: $3.64M
Revenue: $39.24M
Revenue: $39.24M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
-51.0%
Operating Income: -$20.02M
Revenue: $39.24M
Revenue: $39.24M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
-105.6%
Net Income: -$41.45M
Revenue: $39.24M
Revenue: $39.24M
ROE (Profit from shareholder equity)
APINet Income / Total Equity
73.8%
Net Income: -$41.45M
Total Equity: -$67.09M
Total Equity: -$67.09M
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
-214.8%
Operating Income: -$20.02M
Tax Rate: 0.0%
Equity: -$67.09M
Total Debt: $85.81M
Cash: $7.81M
Tax Rate: 0.0%
Equity: -$67.09M
Total Debt: $85.81M
Cash: $7.81M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
0.97
Current Assets: $13.94M
Current Liabilities: $14.39M
Current Liabilities: $14.39M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
-1.28
Short-Term Debt: $3.69M
Long-Term Debt: $82.12M
Total Debt: $85.81M
Total Equity: -$67.09M
Long-Term Debt: $82.12M
Total Debt: $85.81M
Total Equity: -$67.09M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$0.50
Revenue: $39.24M
Shares: 78,705,000
Shares: 78,705,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$-0.85
Total Equity: -$67.09M
Shares: 78,705,000
Shares: 78,705,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-0.19
Operating CF: -$14.78M
CapEx: -$485,000
Shares: 78,705,000
CapEx: -$485,000
Shares: 78,705,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $1.31
Stock Price: $1.31
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$41.45M
Net Income: -$41.45M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares MRT against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 30, 2026 6:41am (1h ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $17.0M | $25.0M | $20.0M | $18.7M | $39.2M |
| Cost of Revenue | $20.1M | $33.0M | $32.9M | $65.9M | $35.6M |
| Gross Profit | -$3.1M | -$8.0M | -$12.9M | -$47.2M | $3.6M |
| Operating Expenses | $5.9M | $6.8M | $15.4M | $16.2M | $23.7M |
| Operating Income | -$9.0M | -$14.7M | -$28.3M | -$63.4M | -$20.0M |
| Net Income | -$14.5M | -$14.2M | -$33.8M | -$73.9M | -$41.4M |
| EBITDA | -$7.5M | -$3.3M | -$17.0M | -$55.2M | -$22.2M |
| EPS | $-0.42 | $-0.32 | $-0.67 | $-1.25 | $-0.53 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 30, 2026 6:41am (1h ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $13.2M | $10.5M | $19.4M | $5.1M | $7.8M |
| Total Current Assets | $18.0M | $20.5M | $25.7M | $11.4M | $13.9M |
| Total Assets | $39.0M | $40.9M | $40.2M | $20.4M | $29.8M |
| Current Liabilities | $10.4M | $15.9M | $17.5M | $6.8M | $14.4M |
| Long-Term Debt | $7.4M | $16.4M | $54.8M | $74.7M | $82.1M |
| Total Liabilities | $18.5M | $33.3M | $72.9M | $81.8M | $96.9M |
| Total Equity | $20.5M | $7.6M | -$32.7M | -$61.4M | -$67.1M |
| Retained Earnings | -$24.9M | -$39.2M | -$65.6M | -$139.5M | -$180.9M |
Cash Flow (Annual)
Last updated: Jun 30, 2026 6:41am (1h ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $2.6M | -$5.5M | -$14.9M | -$25.1M | -$14.8M |
| Capital Expenditure | -$5.0M | -$8.2M | -$4.8M | $-332,356 | $-485,000 |
| Free Cash Flow | -$2.4M | -$13.7M | -$19.7M | -$25.4M | -$15.3M |
| Acquisitions (net) | $0 | $38,133 | $0 | $0 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $0 | $0 | $0 | $-368,000 |
| Net Change in Cash | -$8.4M | -$2.7M | $8.9M | -$14.3M | $2.7M |
Analyst Estimates (Annual)
Last updated: Jun 30, 2026 6:41am (1h ago)| Metric | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|
| Revenue |
$16.6M $14.4M – $17.9M
|
$34.3M $29.7M – $37.0M
|
$70.2M $70.0M – $70.5M
|
$116.0M $97.6M – $134.4M
|
| EBITDA |
-$9.9M -$10.7M – -$8.6M
|
-$20.5M -$22.1M – -$17.7M
|
-$42.0M -$42.1M – -$41.8M
|
-$69.3M -$80.3M – -$58.3M
|
| Net Income |
-$59.0M -$65.2M – -$48.7M
|
-$48.0M -$53.0M – -$39.6M
|
-$20.7M -$22.9M – -$17.1M
|
-$5.2M -$5.8M – -$4.3M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 30, 2026 6:41am (1h ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +47.0% | -19.8% | -6.8% | +110.3% |
| Gross Profit Growth | -156.5% | -61.0% | -267.4% | +107.7% |
| Operating Income Growth | -64.2% | -91.8% | -124.3% | +68.4% |
| Net Income Growth | +1.6% | -137.4% | -118.5% | +43.9% |
| EBITDA Growth | +56.5% | -421.7% | -224.2% | +59.8% |
Insider Trading (Recent)
Last updated: Jun 30, 2026 6:41am (1h ago)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-03-31 | Healey Kerry Murphy | A-Award | 3,732.00 | $0.00 | $0 |
| 2026-03-31 | Lute Douglas | A-Award | 3,732.00 | $0.00 | $0 |
| 2026-03-31 | Freifeld Daniel | A-Award | 20,261.00 | $0.00 | $0 |
| 2026-03-31 | Spiro Alex | A-Award | 2,666.00 | $0.00 | $0 |
| 2026-03-31 | Ugur Agah | A-Award | 3,199.00 | $0.00 | $0 |
| 2026-03-18 | Ozeker Cenk | 100,000.00 | $3.28 | $328,000 | |
| 2026-03-18 | Durgun Cankut | 0.00 | $0.00 | $0 | |
| 2026-03-18 | Oktem Alper | 0.00 | $0.00 | $0 | |
| 2026-03-18 | Oktem Alper | 0.00 | $0.00 | $0 | |
| 2026-03-18 | Ugur Agah | 0.00 | $0.00 | $0 | |
| 2019-05-17 | MANSFIELD TODD | D-Return | 6,684.00 | $2.00 | $13,368 |
| 2019-05-17 | CHURCHEY RANDY L | D-Return | 58,460.00 | $2.00 | $116,920 |
| 2019-05-17 | GERINGER STEVEN I | D-Return | 25,939.00 | $2.00 | $51,878 |
| 2019-05-17 | Guillard Stephen L | D-Return | 45,939.00 | $2.00 | $91,878 |
| 2019-05-17 | FOY JOHN N | D-Return | 48,160.00 | $2.00 | $96,320 |
| 2019-05-17 | Walraven Jeffery C | D-Return | 45,742.00 | $2.00 | $91,484 |
| 2019-01-31 | BlueMountain Capital Management, LLC | S-Sale | 30,000.00 | $11.52 | $345,600 |
| 2019-01-31 | BlueMountain Capital Management, LLC | S-Sale | 20,000.00 | $11.55 | $231,000 |
| 2019-01-31 | BlueMountain Capital Management, LLC | S-Sale | 25,261.00 | $11.45 | $289,238 |
| 2019-01-29 | BlueMountain Capital Management, LLC | S-Sale | 1,902.00 | $11.35 | $21,588 |
Dividend History (Last 20)
Last updated: Jun 30, 2026 6:41am (1h ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2019-03-08 | $0.21 | |||
| 2018-05-21 | $0.21 | 2018-05-08 | 2018-06-05 | |
| 2018-02-15 | $0.21 | 2018-02-07 | 2018-03-05 | |
| 2017-11-14 | $0.21 | 2017-11-01 | 2017-11-29 | |
| 2017-08-14 | $0.21 | 2017-08-03 | 2017-08-30 | |
| 2017-05-15 | $0.21 | 2017-05-04 | 2017-05-31 | |
| 2017-01-12 | $0.21 | 2017-01-04 | 2017-01-31 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for MRT — it's generated by the pipeline (
market-narrative step).
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My Notes
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.358 · 96f250cd · 2026-06-29 18:55:16