The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.

Successfully transitioned from a single-service provider to a multi-service mobility super app, now operating 8 services across 20 major Turkish cities.

Achieved a pivotal inflection point with the first full year of platform monetization, driving revenue to $39.2 million, which exceeded guidance by $5.2 million.

Realized significant operating leverage as gross profit margin swung from negative 15.5% in 2024 to positive 61.1% in 2025, driven by dynamic pricing and AI-enabled cost efficiencies.

Capitalized on a high-density network where 35% of car-hailing and 82% of motorcycle-hailing users were acquired via other Marti services, lowering customer acquisition costs.

Demonstrated supply-side flexibility with 31% of motorcycle drivers adopting the new delivery service within the first quarter of its Istanbul launch.

Leveraged local market expertise and regulatory agility to maintain a clear leadership position against global competitors in the Turkish urban mobility market.

Identified a $4 billion annual revenue opportunity in Turkish ride-hailing, modeled on global benchmarks where ride-hailing typically expands the total addressable taxi market by 1.6x.

Targeting $70 million in revenue for 2026, representing nearly 80% year-over-year growth driven by expanded monetization in additional cities.

Projecting to reach positive adjusted EBITDA of $1 million in 2026, a $13.1 million improvement from 2025 levels.

Planning to scale ride-hailing reach to 4.3 million all-time riders and 530,000 registered drivers by June 30, 2026.

Guidance assumes continued disciplined capital allocation, focusing on organic growth in existing cities and the rollout of a new AI-driven loyalty program.

Expects to maintain a significant first-mover advantage, keeping future competitive defense costs in the "tens of millions" rather than the billions spent in other global markets.

Strategic decommissioning of the older 2-wheeled electric vehicle fleet resulted in average daily deployed units decreasing from 32,600 to 23,200.

General and administrative expenses decreased 43% year-over-year to $28.1 million, primarily due to lower share-based compensation and reduced insurance costs; however, excluding share-based compensation, G&A expenses increased from $12.1 million to $16.8 million to support platform growth.

Management noted that while regional conflicts impact global energy prices, Turkey's national energy subsidy fund has limited the increase in gas prices to 9%, resulting in only a 2% impact on the drivers' total cost base.

Ongoing regulatory efforts are focused on establishing a national legal framework for ride-hailing, similar to the successful regulation achieved for e-scooters.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here.

Management was positively surprised by regional demand; Istanbul's share of the business dropped to 50% and is expected to reach 35% at steady state.

The company has only launched in 20 of 81 cities, suggesting a vast untapped geographic runway.

AI has reduced the software development cycle from months to weeks, allowing the company to bridge the product quality gap with global giants rapidly.

Specific AI use cases include automated driver identification, customer service chatbots, and optimized dynamic pricing algorithms.

Current take rates remain in the high-single to low-double digits, significantly below the 30% global industry benchmark.

Management explicitly stated they are prioritizing growth over maximum take rates but can "turn the dial" on monetization within minutes if strategic priorities shift.

The company ended 2025 with $8 million in cash and has $10 million in remaining drawdown capacity from one of its two outstanding convertible notes.

Management believes no additional capital raises are necessary to reach the 2026 profitability targets.

One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here.