Marti Technologies, Inc. (MRT) 10-Year Financial Performance & Capital Metrics

MRT • • Industrial / General

TechnologyApplication SoftwareArtificial Intelligence & AnalyticsAI Analytics Platforms

AboutMarti Technologies Inc. provides urban transportation services to riders in Turkey. It also operates a mobility app that provides multiple transportation services to its riders; and operates a fleet of e-mopeds, e-bikes, and e-scooters. The company was founded in 2018 and is based in Istanbul, Turkey.Show more

Revenue $19M -6.8%
EBITDA -$57M -175.4%
Net Income -$74M -118.5%
EPS (Diluted) -1.25 -86.6%
Gross Margin -15.48% +21.5%
EBITDA Margin -303.43% -195.6%
Operating Margin -350.01% -129.1%
Net Margin -395.94% -134.5%
ROE -
ROIC -435.85% -255.3%
Debt/Equity -
Interest Coverage -6.55 -44.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

No significant strengths identified

✗Weaknesses

✗Negative free cash flow
✗Low quality earnings: Net income not backed by cash flow
✗Shares diluted 16.6% in last year
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y3.15%

TTM29.67%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-18.9%

EPS CAGR

10Y-

5Y-

3Y-

TTM-65.71%

ROCE

10Y Avg-145.61%

5Y Avg-145.61%

3Y Avg-181.14%

Latest-359.63%

Peer Comparison

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Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
LYFTLyft, Inc.	7.54B	18.88	342.65	31.39%	2.4%	26.3%	10.16%	1.64
DDOGDatadog, Inc.	39.33B	120.86	236.98	26.12%	3.32%	3.1%	2.13%	0.68
PEGAPegasystems Inc.	9B	53.00	96.36	4.51%	16.05%	46.57%	3.76%	0.94
SAPSAP SE	274.66B	235.84	89.00	9.51%	19.41%	13.94%	1.61%	0.23
TYLTyler Technologies, Inc.	19.2B	446.15	73.74	9.53%	13.72%	8.75%	3.15%	0.19
FICOFair Isaac Corporation	37.49B	1581.19	59.58	15.91%	32.75%		2.05%
DSGXThe Descartes Systems Group Inc.	7.62B	88.57	54.01	13.63%	22.1%	10%	2.79%	0.01
MANHManhattan Associates, Inc.	10.58B	175.57	50.02	12.23%	20.25%	69.86%	2.71%	0.16

Profit & Loss

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	9.76M	17M	24.99M	20.03M	18.66M
Revenue Growth %	-	0.74%	0.47%	-0.2%	-0.07%
Cost of Goods Sold+	9.52M	16.4M	26.98M	23.98M	21.55M
COGS % of Revenue	0.97%	0.96%	1.08%	1.2%	1.15%
Gross Profit+	244.84K	598.13K	-1.99M	-3.95M	-2.89M
Gross Margin %	0.03%	0.04%	-0.08%	-0.2%	-0.15%
Gross Profit Growth %	-	1.44%	-4.33%	-0.98%	0.27%
Operating Expenses+	4.19M	846.09K	11.75M	26.65M	62.42M
OpEx % of Revenue	0.43%	0.05%	0.47%	1.33%	3.35%
Selling, General & Admin	3.14M	6.86M	10.65M	22.37M	58.6M
SG&A % of Revenue	0.32%	0.4%	0.43%	1.12%	3.14%
Research & Development	541.24K	1.04M	1.88M	1.95M	1.96M
R&D % of Revenue	0.06%	0.06%	0.08%	0.1%	0.11%
Other Operating Expenses	506.7K	-7.06M	-777.77K	2.33M	1.86M
Operating Income+	-3.95M	-9.02M	-14.88M	-30.6M	-65.31M
Operating Margin %	-0.4%	-0.53%	-0.6%	-1.53%	-3.5%
Operating Income Growth %	-	-1.28%	-0.65%	-1.06%	-1.13%
EBITDA+	1.42M	-3.54M	-5.78M	-20.56M	-56.62M
EBITDA Margin %	0.15%	-0.21%	-0.23%	-1.03%	-3.03%
EBITDA Growth %	-	-3.49%	-0.63%	-2.55%	-1.75%
D&A (Non-Cash Add-back)	5.37M	5.47M	9.1M	10.04M	8.69M
EBIT	-4.37M	-9.02M	-12.36M	-27.07M	-65.31M
Net Interest Income+	-265.36K	4.79K	635.23K	-5.94M	-8.97M
Interest Income	16.8K	4.79K	2.57M	803.61K	1.01M
Interest Expense	263.96K	0	1.93M	6.74M	9.98M
Other Income/Expense	-679.46K	-4.53M	635.23K	-3.21M	-8.57M
Pretax Income+	-4.63M	-13.58M	-14.25M	-33.81M	-73.88M
Pretax Margin %	-0.47%	-0.8%	-0.57%	-1.69%	-3.96%
Income Tax+	0	887.65K	0	0	0
Effective Tax Rate %	1%	1.07%	1%	1%	1%
Net Income+	-4.63M	-14.47M	-14.25M	-33.81M	-73.88M
Net Margin %	-0.47%	-0.85%	-0.57%	-1.69%	-3.96%
Net Income Growth %	-	-2.13%	0.02%	-1.37%	-1.18%
Net Income (Continuing)	-4.63M	-14.47M	-14.25M	-33.81M	-73.88M
Discontinued Operations	0	0	0	0	0
Minority Interest	0	0	0	0	0
EPS (Diluted)+	-0.13	-0.42	-0.32	-0.67	-1.25
EPS Growth %	-	-2.23%	0.24%	-1.09%	-0.87%
EPS (Basic)	-0.13	-0.42	-0.32	-0.67	-1.25
Diluted Shares Outstanding	35.94M	34.24M	44.11M	50.58M	58.97M
Basic Shares Outstanding	35.94M	34.24M	44.11M	50.58M	58.97M
Dividend Payout Ratio	-	-	-	-	-

Balance Sheet

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	5.58M	17.97M	20.46M	25.7M	11.42M
Cash & Short-Term Investments	3.5M	13.22M	10.5M	19.42M	5.15M
Cash Only	3.5M	13.22M	10.5M	19.42M	5.15M
Short-Term Investments	0	0	0	0	0
Accounts Receivable	1.36M	3.14M	6.1M	2.44M	1.58M
Days Sales Outstanding	51.01	67.36	89.16	44.45	30.82
Inventory	75.94K	866.72K	3.33M	2.61M	2.03M
Days Inventory Outstanding	2.91	19.29	45.08	39.76	34.39
Other Current Assets	4.75K	11.43K	-161.28K	150.22K	1.85M
Total Non-Current Assets+	8.06M	21.02M	20.42M	14.52M	8.96M
Property, Plant & Equipment	8.04M	20.98M	20.26M	14.33M	6.33M
Fixed Asset Turnover	1.21x	0.81x	1.23x	1.40x	2.95x
Goodwill	0	0	0	0	0
Intangible Assets	19.87K	33.32K	159.58K	183.89K	590K
Long-Term Investments	0	146.63M	148.74M	0	0
Other Non-Current Assets	0	69.66K	-148.74M	0	2.04M
Total Assets+	13.64M	38.99M	40.88M	40.21M	20.38M
Asset Turnover	0.72x	0.44x	0.61x	0.50x	0.92x
Asset Growth %	-	1.86%	0.05%	-0.02%	-0.49%
Total Current Liabilities+	10.55M	10.42M	15.87M	17.5M	6.77M
Accounts Payable	0	0	3.57M	2.8M	1.65M
Days Payables Outstanding	-	-	48.35	42.56	27.96
Short-Term Debt	8.6M	5.64M	7.29M	10.45M	0
Deferred Revenue (Current)	41.77K	712.7K	1000K	1000K	0
Other Current Liabilities	390.71K	438.6K	1.01M	1.88M	1.84M
Current Ratio	0.53x	1.73x	1.29x	1.47x	1.69x
Quick Ratio	0.52x	1.64x	1.08x	1.32x	1.39x
Cash Conversion Cycle	-	-	85.9	41.65	37.25
Total Non-Current Liabilities+	409.48K	8.05M	17.41M	55.41M	75.05M
Long-Term Debt	0	7.41M	16.38M	54.8M	74.67M
Capital Lease Obligations	393.91K	619.77K	674.5K	277.96K	88K
Deferred Tax Liabilities	0	0	0	0	0
Other Non-Current Liabilities	15.57K	17.98K	357.23K	325.86K	290K
Total Liabilities	10.96M	18.47M	33.28M	72.91M	81.82M
Total Debt+	9.44M	14.33M	26.5M	65.94M	75.25M
Net Debt	5.94M	1.11M	16M	46.52M	70.1M
Debt / Equity	3.52x	0.70x	3.49x	-	-
Debt / EBITDA	6.64x	-	-	-	-
Net Debt / EBITDA	4.18x	-	-	-	-
Interest Coverage	-14.97x	-	-7.70x	-4.54x	-6.55x
Total Equity+	2.69M	20.52M	7.6M	-32.7M	-61.44M
Equity Growth %	-	6.64%	-0.63%	-5.3%	-0.88%
Book Value per Share	0.07	0.60	0.17	-0.65	-1.04
Total Shareholders' Equity	2.69M	20.52M	7.6M	-32.7M	-61.44M
Common Stock	90	90	4.41K	5.7K	6K
Retained Earnings	-10.46M	-24.94M	-39.18M	-65.61M	-139.49M
Treasury Stock	0	0	0	0	0
Accumulated OCI	246.2K	-7.22M	-7.56M	-7.56M	-7.56M
Minority Interest	0	0	0	0	0

Cash Flow

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	2.1M	-4.04M	-5.47M	-14.87M	-25.08M
Operating CF Margin %	0.21%	-0.24%	-0.22%	-0.74%	-1.34%
Operating CF Growth %	-	-2.93%	-0.35%	-1.72%	-0.69%
Net Income	-5.96M	-9.3M	-14.25M	-33.81M	-73.88M
Depreciation & Amortization	5.37M	5.47M	9.1M	10.04M	8.69M
Stock-Based Compensation	643.71K	868.76K	1.66M	1.99M	0
Deferred Taxes	495.43K	0	-2.19M	0	0
Other Non-Cash Items	459.4K	20.02K	1.47M	5.36M	39.24M
Working Capital Changes	1.09M	-1.1M	-1.25M	1.56M	868.67K
Change in Receivables	-178.97K	-211.65K	-210.01K	186.8K	-15K
Change in Inventory	-844.62K	-1.21M	-2.1M	657.57K	265K
Change in Payables	2.09M	1.24M	1.66M	-777.41K	-1.15M
Cash from Investing+	-17.71M	-22.89M	-8.16M	-4.82M	-1.04M
Capital Expenditures	-17.71M	-4.97M	-8.2M	-4.74M	-332K
CapEx % of Revenue	1.81%	0.29%	0.33%	0.24%	0.02%
Acquisitions	-	-	-	-	-
Investments	-	-	-	-	-
Other Investing	0	128.7M	0	-80.84K	-707.28K
Cash from Financing+	32.45M	43.09M	11.26M	28.61M	11.84M
Debt Issued (Net)	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-
Dividends Paid	0	0	0	0	0
Share Repurchases	-	-	-	-	-
Other Financing	0	-117.88M	0	28.31M	-89.97K
Net Change in Cash	-	-	-	-	-
Free Cash Flow+	-15.62M	-2.38M	-13.66M	-19.71M	-25.41M
FCF Margin %	-1.6%	-0.14%	-0.55%	-0.98%	-1.36%
FCF Growth %	-	0.85%	-4.74%	-0.44%	-0.29%
FCF per Share	-0.43	-0.07	-0.31	-0.39	-0.43
FCF Conversion (FCF/Net Income)	-0.45x	0.28x	0.38x	0.44x	0.34x
Interest Paid	0	0	0	0	0
Taxes Paid	0	0	530.07K	0	0

Key Ratios

Metric	2020	2021	2022	2023	2024
Return on Equity (ROE)	-172.4%	-124.74%	-101.33%	-	-
Return on Invested Capital (ROIC)	-	-44.71%	-49.35%	-122.67%	-435.85%
Gross Margin	2.51%	3.52%	-7.98%	-19.72%	-15.48%
Net Margin	-47.42%	-85.14%	-57.01%	-168.82%	-395.94%
Debt / Equity	3.52x	0.70x	3.49x	-	-
Interest Coverage	-14.97x	-	-7.70x	-4.54x	-6.55x
FCF Conversion	-0.45x	0.28x	0.38x	0.44x	0.34x
Revenue Growth	-	74.12%	46.99%	-19.84%	-6.84%

Revenue by Segment

	2024
Other Member	373.88K
Other Member Growth	-
Fuel	251.7K
Fuel Growth	-
Electricity	143.53K
Electricity Growth	-

Frequently Asked Questions

Growth & Financials

Marti Technologies, Inc. (MRT) reported $24.6M in revenue for fiscal year 2024. This represents a 152% increase from $9.8M in 2020.

Marti Technologies, Inc. (MRT) saw revenue decline by 6.8% over the past year.

Marti Technologies, Inc. (MRT) reported a net loss of $71.3M for fiscal year 2024.

Dividend & Returns

Marti Technologies, Inc. (MRT) had negative free cash flow of $20.1M in fiscal year 2024, likely due to heavy capital investments.

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