MRT on NYSE

Marti Technologies, Inc.

Auto rental and leasing services company in the Cayman Islands. Summary from the record

$1.80 up 0.03 (1.64%)Price as of Oct 15, 2026 at 17:33 UTC

Last updated Oct 19, 2026.

Overview

$39.2MRevenue, fiscal 2025³

-$41.4MNet income, fiscal 2025³

Compare with Zoomcar Holdings, Inc., U-Haul Holding Company or Valor Energy Inc, or pick any stock.

TickerMRT on NYSE¹
IndustryServices-Auto Rental & Leasing (No Drivers)¹
HeadquartersE9¹
Incorporated inCayman Islands⁴
Business addressC/O Maples Corporate Services Limited, Po Box 309, Ugland House, Grand Cayman⁴
Filer categoryNon-accelerated filer, Emerging growth company⁴

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-72.7%Operating margin³

-105.6%Net margin³

110.3%Revenue growth, 2025³

-$15.3MFree cash flow³

Where the money goes

Where each dollar of revenue went, fiscal 2025

Cost of revenueOther costs

Cost of revenue39¢$15.3M
Research and development8¢$3.0M
Other costs53¢$21.0M

Out of $39.2M in revenue.³ The company lost money this year.

Financial statements

Revenue⁵⁶³$39.2M in 2025+131% since 2021

Operating income⁵⁶³-$28.5M in 2025+215% since 2021

Net income⁵⁶³-$41.4M in 2025+186% since 2021

Every line of the income statement as filed: the last 3 fiscal years, latest first.³

Period ending	2025-12-31	2024-12-31	2023-12-31
Revenue	$39.2M	$18.7M	$20.0M
Cost of revenues	-$15.3M	-$21.5M	-$24.1M
General and administrative expenses	-$28.1M	-$49.2M	-$15.1M
Selling and marketing expenses	-$13.0M	-$9.3M	-$7.3M
Research and development expenses	-$3.0M	-$2.0M	-$2.0M
Other expenses	-$9.4M	-$3.1M	-$2.8M
Other income	$891.2K	$1.2M	$657.9K
Total operating expenses	-$67.8M	-$84.0M	-$50.6M
Loss from operations	-$28.5M	-$65.3M	-$30.6M
Fair value gain on derivative instrument	$1.4M
Financial income	$1.4M	$1.4M	$3.6M
Financial expense	-$15.6M	-$10.0M	-$6.8M
Loss before income tax expense	-$41.4M	-$73.9M	-$33.8M
Net loss	-$41.4M	-$73.9M	-$33.8M
Net loss attributable to stockholders	-$41.4M	-$73.9M	-$33.8M
Total comprehensive loss	-$41.4M	-$73.9M	-$33.8M
Weighted average shares used to compute basic and diluted net loss per share (in Shares)	78.0M shares	59.0M shares	50.6M shares
Weighted average shares used to compute diluted net loss per share (in Shares)	78.0M shares	59.0M shares	50.6M shares
Net loss per common share basic (in Dollars per share)	-$0.53	-$1.25	-$0.67
Net loss per common share diluted (in Dollars per share)	-$0.53	-$1.25	-$0.67

Total assets¹⁰⁵⁶³$29.8M in 2025−80% since 2021

Total liabilities¹⁰⁵⁶³$96.9M in 2025+1589% since 2021

Shareholders’ equity⁵⁶³-$67.1M in 2025

Cash⁵¹⁰⁶³$7.8M in 2025+123% since 2020

Long-term debt⁵⁶³$82.1M in 2025+247% since 2022

Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.³

Period ending	2025-12-31	2024-12-31	2023-12-31	2022-12-31
Cash and cash equivalents	$7.8M	$5.1M
Accounts receivable, net	$503.8K	$203.5K	$188.4K
Inventories	$2.0M	$2.0M
Other current assets	$3.6M	$4.0M
Total current assets	$13.9M	$11.4M
Property and equipment	$2.7M	$5.5M
Operating lease right of use assets	$907.4K	$837.3K
Intangible assets	$351.2K	$589.6K
Other non-current assets	$11.9M	$2.0M
Total non-current assets	$15.9M	$9.0M
Total assets	$29.8M	$20.4M
Short-term financial liabilities, net	$3.7M	$4.6M
Accounts payable	$4.1M	$1.7M
Operating lease liabilities	$620.1K	$484.0K
Deferred revenue	$2.1M	$1.8M
Accrued expenses and other current liabilities	$3.9M	$2.8M
Total current liabilities	$14.4M	$11.3M
Long-term financial liabilities, net	$82.1M	$70.1M
Operating lease liabilities	$135.7K	$87.7K
Employee benefit liabilities	$249.2K	$290.1K
Total non-current liabilities	$82.5M	$70.5M
Total liabilities	$96.9M	$81.8M
Common stock	$8.6K	$6.3K
Share premium	$121.8M	$85.6M
Treasury shares	-$367.6K
Accumulated other comprehensive loss	-$7.6M	-$7.6M
Accumulated deficit	-$180.9M	-$139.5M
Total stockholders equity	-$67.1M	-$61.4M	-$32.7M	$7.6M
Total liabilities and stockholders equity	$29.8M	$20.4M

Period ending	2025-12-31	2024-12-31	2023-12-31	2022-12-31
Cash and cash equivalents	$7.8M	$5.1M
Accounts receivable, net	$503.8K	$203.5K	$188.4K
Inventories	$2.0M	$2.0M
Other current assets	$3.6M	$4.0M
Total current assets	$13.9M	$11.4M
Property and equipment	$2.7M	$5.5M
Operating lease right of use assets	$907.4K	$837.3K
Intangible assets	$351.2K	$589.6K
Other non-current assets	$11.9M	$2.0M
Total non-current assets	$15.9M	$9.0M
Total assets	$29.8M	$20.4M
Short-term financial liabilities, net	$3.7M	$4.6M
Accounts payable	$4.1M	$1.7M
Operating lease liabilities	$620.1K	$484.0K
Deferred revenue	$2.1M	$1.8M
Accrued expenses and other current liabilities	$3.9M	$2.8M
Total current liabilities	$14.4M	$11.3M
Long-term financial liabilities, net	$82.1M	$70.1M
Operating lease liabilities	$135.7K	$87.7K
Employee benefit liabilities	$249.2K	$290.1K
Total non-current liabilities	$82.5M	$70.5M
Total liabilities	$96.9M	$81.8M
Common stock	$8.6K	$6.3K
Share premium	$121.8M	$85.6M
Treasury shares	-$367.6K
Accumulated other comprehensive loss	-$7.6M	-$7.6M
Accumulated deficit	-$180.9M	-$139.5M
Total stockholders equity	-$67.1M	-$61.4M	-$32.7M	$7.6M
Total liabilities and stockholders equity	$29.8M	$20.4M

Cash from operations⁵⁶³-$14.8M in 2025+266% since 2021

Capital spending³$485.3K in 2025−26% since 2023

Free cash flow³-$15.3M in 2025−2% since 2023

Every line of the cash flow as filed: the last 3 fiscal years, latest first.³

Period ending	2025-12-31	2024-12-31	2023-12-31
Net loss	-$41.4M	-$73.9M	-$33.8M
Depreciation and amortization	$3.6M	$8.7M	$10.0M
Loss on disposal of assets	$32.1K		$566.7K
Share-based, compensation, net	$11.3M	$35.7M	$2.0M
Interest expense-income, net	$8.6M	$3.7M	$5.9M
Fair value gain on derivative instrument	-$1.4M
Foreign exchange gains	-$720.1K	-$396.6K	-$2.7M
Provision for inventory obsolescence	$18.2K	$316.7K	$62.8K
Other non-cash	$834.1K	-$17.3K	$1.5M
Account receivable	-$300.3K	-$15.2K	$186.8K
Inventories	$21.1K	$265.1K	$657.6K
Other current assets	$933.4K	$978.0K	$96.0K
Accounts payable	$2.4M	-$1.1M	-$777.4K
Deferred revenue	$284.1K	$294.8K	$221.8K
Accrued expenses and other current liabilities	$1.0M	$491.4K	$1.2M
Net cash used in operating activities	-$14.8M	-$25.1M	-$14.9M
Purchase of vehicles			-$4.1M
Purchase of property and equipment	-$485.3K	-$332.4K	-$652.4K
Purchase of intangible assets	-$56.4K	-$706.9K	-$102.2K
Proceeds from disposal of property and equipment			$21.3K
Net cash used in investing activities	-$541.7K	-$1.0M	-$4.8M
Repurchases of shares	-$367.6K
Net proceeds from reverse acquisition			$29.6M
Proceeds from issuance of convertible notes	$19.9M	$18.0M	$7.5M
Proceeds from exercise of employee share options	$167.9K
Repayment of convertible notes		-$930.0K
Repayment of term loans	-$1.8M	-$5.1M	-$7.2M
Re-purchase of warrants		-$90.0K	-$1.3M
Net cash generated from financing activities	$18.0M	$11.8M	$28.6M
Increase/(Decrease) in cash and cash equivalents	$2.7M	-$14.3M	$8.9M
Net increase/(decrease) in cash and cash equivalents	$2.7M	-$14.3M	$8.9M
Interest paid, net	-$7.0M	-$5.3M	-$447.7K
Conversion of convertible notes into shares	$2.2M	$2.0M

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Leadership

Who has led Marti Technologies, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

President

Chief financial officer

Chief operating officer

Cankut Durgun2026–now

2025

Chief executive officerAlper Oktem Mar 18, 2026 to now¹²
Chief executive officerKemal Kaya Jul 12, 2021 to Jul 12, 2021¹³
PresidentCankut Durgun Mar 18, 2026 to now¹⁴
PresidentDaniel Freifeld Jul 12, 2021 to Jul 12, 2021¹⁵
Chief financial officerCenk Ozeker Mar 18, 2026 to now¹⁶
Chief financial officerMichael Tanzer Jul 12, 2021 to Jul 12, 2021¹⁷
Chief operating officerCankut Durgun Mar 18, 2026 to now¹⁴

Board members and other officers (9)

Board memberAgah Ugur Mar 18, 2026 to now¹⁸
Board memberAlex Spiro Mar 18, 2026 to now¹⁹
Board memberAlper Oktem Mar 18, 2026 to now¹²
Board memberCankut Durgun Mar 18, 2026 to now¹⁴
Board memberDouglas Lute Mar 18, 2026 to now²⁰
Board memberAdam S. Metz Jul 8, 2021 to Jul 8, 2021²¹
Board memberDaniel Freifeld Jul 12, 2021 to now¹⁵
Board memberKemal Kaya Jul 12, 2021 to Jul 12, 2021¹³
Board memberShelley Guiley Jul 12, 2021 to Jul 12, 2021²²

Former names

Galata Acquisition Corp.Apr 2, 2021 to Jul 7, 2023⁴

Timeline

Mar 18, 2026New chief executive Alper Oktem becomes CEO¹²
Jul 12, 2021New chief executive Kemal Kaya becomes CEO¹³

Filings

176 filings to the SEC since October 2021: 6 annual reports, 5 quarterly reports, 9 major events, 23 insider forms, 25 large holders, 108 other. The latest 20:

Oct 2, 20264 EDGAR
Oct 2, 20264 EDGAR
Oct 2, 20264 EDGAR
Oct 2, 20264 EDGAR
Oct 2, 20264 EDGAR
Sep 10, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
Aug 19, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
Aug 19, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
Jul 13, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
Jul 2, 20264 EDGAR
Jul 2, 20264 EDGAR
Jul 2, 20264 EDGAR
Jul 2, 20264 EDGAR
Jul 2, 20264 EDGAR
Jun 29, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
Jun 26, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
Jun 10, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
May 21, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
May 21, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
Apr 27, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR

The 176 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Alper OktemSCHEDULE 13D/A, 4 filings Jul 20, 2023 to Apr 24, 2026²³
Cankut DurgunSCHEDULE 13D/A, 3 filings Jul 20, 2023 to Apr 24, 2026²⁴
DLD Asset Management, LPSCHEDULE 13G, 1 filing Jan 2, 2026²⁵
Sumed Equity Ltd.SCHEDULE 13D/A, 3 filings Jul 21, 2023 to Oct 29, 2025²⁶
EUROPEAN BANK FOR RECONSTRUCTION & DEVELOPMENTSC 13G, 1 filing Feb 13, 2024²⁷
GLAZER CAPITAL, LLCSC 13G/A, 2 filings Feb 14, 2023 to Feb 13, 2024²⁸
ARISTEIA CAPITAL, L.L.C.SC 13G/A, 2 filings Feb 13, 2023 to Feb 12, 2024²⁹
Weiss Asset Management LPSC 13G/A, 2 filings Jan 28, 2022 to Feb 9, 2024³⁰
Saba Capital Management, L.P.SC 13G/A, 3 filings Oct 8, 2021 to Feb 8, 2024³¹
Galata Acquisition Sponsor LLCSC 13D/A, 2 filings Jul 20, 2023 to Nov 22, 2023³²
CITADEL ADVISORS LLCSC 13G/A, 1 filing Feb 14, 2022³³
MMCAP International Inc. SPCSC 13G/A, 1 filing Feb 4, 2022³⁴

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

Fund	Shares	Value	Share of the fund	Change
DLD Asset Management, LP	7,063,117	$9.3M	2.5%	+497,000
Gramercy Funds Management LLC	2,570,413	$3.4M	100.0%	+242,385
Wells Fargo & Company/mn	1,000,000	$1.3M	0.0%	No change
Arbiter Partners Capital Management LLC	646,152	$846.5K	0.2%	+359,898
Luxor Capital Group, LP	355,990	$466.3K	0.1%	No change
Weiss Asset Management LP	308,905	$404.7K	0.0%	+181,499
Osaic Holdings, Inc.	158,794	$208.0K	0.0%	New
Curi Capital, LLC	35,000	$45.9K	0.0%	No change
Bbr Partners, LLC	35,000	$45.9K	0.0%	No change
CJM Wealth Advisers, Ltd.	35,000	$45.9K	0.0%	No change
State Street Corp	31,330	$41.0K	0.0%	−2,296
XTX Topco Ltd	10,244	$13.4K	0.0%	New
Morgan Stanley	1,000	$1.3K	0.0%	New
SBI Securities Co., Ltd.	100	$131	0.0%	New
Caitong International Asset Management Co., Ltd	1	$1	0.0%	New
Farther Finance Advisors, LLC	1	$1	0.0%	No change

13F reports cover disclosed long positions in U.S. stocks only.

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGARMarti Technologies, Inc. filings on SEC EDGAR
2
Yahoo FinanceMRT quote
3
SEC EDGARMarti Technologies, Inc. 10-K for fiscal 2025
4
SEC EDGARMarti Technologies, Inc. filings on SEC EDGAR
5
SEC EDGARMarti Technologies, Inc. 10-K for fiscal 2021
6
SEC EDGARMarti Technologies, Inc. 10-K for fiscal 2022
7
SEC EDGARMarti Technologies, Inc. 10-Q for fiscal 2022
8
SEC EDGARMarti Technologies, Inc. 10-Q for fiscal 2022
9
SEC EDGARMarti Technologies, Inc. 10-Q for fiscal 2022
10
SEC EDGARMarti Technologies, Inc. 10-K for fiscal 2021
11
SEC EDGARMarti Technologies, Inc. 10-Q for fiscal 2022
12
SEC EDGARAlper Oktem, Chief executive officer
13
SEC EDGARKemal Kaya, Chief executive officer
14
SEC EDGARCankut Durgun, President
15
SEC EDGARDaniel Freifeld, President
16
SEC EDGARCenk Ozeker, Chief financial officer
17
SEC EDGARMichael Tanzer, Chief financial officer
18
SEC EDGARAgah Ugur, Board member
19
SEC EDGARAlex Spiro, Board member
20
SEC EDGARDouglas Lute, Board member
21
SEC EDGARAdam S. Metz, Board member
22
SEC EDGARShelley Guiley, Board member
23
SEC EDGARAlper Oktem SCHEDULE 13D/A on Marti Technologies, Inc.
24
SEC EDGARCankut Durgun SCHEDULE 13D/A on Marti Technologies, Inc.
25
SEC EDGARDLD Asset Management, LP SCHEDULE 13G on Marti Technologies, Inc.
26
SEC EDGARSumed Equity Ltd. SCHEDULE 13D/A on Marti Technologies, Inc.
27
SEC EDGAREUROPEAN BANK FOR RECONSTRUCTION & DEVELOPMENT SC 13G on Marti Technologies, Inc.
28
SEC EDGARGLAZER CAPITAL, LLC SC 13G/A on Marti Technologies, Inc.
29
SEC EDGARARISTEIA CAPITAL, L.L.C. SC 13G/A on Marti Technologies, Inc.
30
SEC EDGARWeiss Asset Management LP SC 13G/A on Marti Technologies, Inc.
31
SEC EDGARSaba Capital Management, L.P. SC 13G/A on Marti Technologies, Inc.
32
SEC EDGARGalata Acquisition Sponsor LLC SC 13D/A on Marti Technologies, Inc.
33
SEC EDGARCITADEL ADVISORS LLC SC 13G/A on Marti Technologies, Inc.
34
SEC EDGARMMCAP International Inc. SPC SC 13G/A on Marti Technologies, Inc.