MRT revenueFY2025$39.24M
- FY YoY
- +110.3%
MRT revenue was $39.24M for fiscal 2025 (ended Dec 31, 2025), up 110.3% from fiscal 2024. It rose in 2 of the last 4 fiscal years. Fiscal 2025 is the highest of the 5 fiscal years on file.
Marti Technologies Inc. (MRT) financials
For fiscal 2025 (ended Dec 31, 2025), Marti Technologies Inc. reported $39.24M of revenue and -$41.45M of net income.
- Revenue, FY2025
- $39.24M
- Revenue growth, YoY
- +110.3%
- Net income, FY2025
- -$41.45M
- Net margin
- -105.6%
- Free cash flow, FY2025
- -$15.27M
- EPS, diluted, FY2025
- -$0.53
- Cash
- $7.81M
- Total debt
- $85.81M
- P/S
- 4.54
- Market cap
- $178.0M
FY2021FY2025
FY2021FY2025
FY2023FY2025
MRT revenue and earnings growth
MRT net incomeFY2025-$41.45M
MRT net income was -$41.45M for fiscal 2025 (ended Dec 31, 2025), compared with -$73.88M in fiscal 2024.
MRT EPSFY2025-$0.53
MRT diluted EPS was -$0.53 for fiscal 2025 (ended Dec 31, 2025), compared with -$1.25 in fiscal 2024.
MRT free cash flowFY2025-$15.27M
MRT free cash flow was -$15.27M for fiscal 2025 (ended Dec 31, 2025), compared with -$25.41M in fiscal 2024.
Income statement
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $39.24M | $18.66M | $20.03M | $24.99M | $17.00M |
| Cost of revenue | $15.25M | $21.55M | $24.08M | $27.09M | $16.96M |
| Gross profit | $23.99M | -$2.89M | -$4.06M | -$2.10M | $43.9K |
| Research and development | $3.01M | $1.96M | $1.95M | $1.88M | $1.04M |
| Selling, general and admin | $28.05M | $49.25M | $15.13M | $9.04M | $6.05M |
| Operating income | -$28.53M | -$65.31M | -$30.60M | -$14.88M | -$9.05M |
| Pre-tax income | -$41.45M | -$73.88M | -$33.81M | -$14.25M | -$13.58M |
| Income tax | - | - | - | - | $887.6K |
| Net income | -$41.45M | -$73.88M | -$33.81M | -$14.25M | -$14.47M |
| EPS, basic | -$0.53 | -$1.25 | -$0.67 | -$0.32 | -$0.42 |
| EPS, diluted | -$0.53 | -$1.25 | -$0.67 | -$0.32 | -$0.42 |
| Diluted shares | 78.0M | 59.0M | 50.6M | 44.1M | 34.2M |
Balance sheet
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
|---|---|---|---|---|---|
| Cash and equivalents | $7.81M | $5.15M | $19.42M | $10.50M | $13.22M |
| Receivables | $503.8K | $203.5K | $188.4K | $375.2K | - |
| Inventory | $1.99M | $2.03M | $2.61M | $3.33M | - |
| Current assets | $13.94M | $11.42M | $25.70M | $20.46M | $758.3K |
| Total assets | $29.80M | $20.38M | $40.21M | $40.88M | $147.46M |
| Current liabilities | $14.39M | $11.32M | $17.50M | $15.87M | $706.2K |
| Short-term debt | $3.69M | $4.56M | $10.45M | $7.29M | - |
| Long-term debt | $82.12M | $70.12M | $54.80M | $16.38M | - |
| Total debt | $85.81M | $74.68M | $65.25M | $23.67M | - |
| Total liabilities | $96.89M | $81.82M | $72.91M | $33.28M | $5.74M |
| Shareholders' equity | -$67.09M | -$61.44M | -$32.70M | $7.60M | $20.52M |
Cash flow
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
|---|---|---|---|---|---|
| Operating cash flow | -$14.78M | -$25.08M | -$14.87M | -$5.47M | -$4.04M |
| Capital expenditures | $485.3K | $332.4K | $652.4K | - | - |
| Free cash flow | -$15.27M | -$25.41M | -$15.52M | - | - |
| Investing cash flow | -$541.7K | -$1.04M | -$4.82M | -$8.16M | -$22.89M |
| Financing cash flow | $17.98M | $11.84M | $28.61M | $11.26M | $43.09M |
| Share repurchases | $367.6K | - | - | - | - |
| Stock-based compensation | $11.28M | $35.66M | $1.99M | $1.66M | $868.8K |
| Depreciation and amortization | $3.59M | $8.69M | $10.04M | $9.10M | $5.47M |
Key ratios
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue growth, YoY | 110.3% | -6.8% | -19.8% | 47.0% | - |
| Gross margin | 61.1% | -15.5% | -20.2% | -8.4% | 0.3% |
| Operating margin | -72.7% | -350.0% | -152.8% | -59.6% | -53.3% |
| Net margin | -105.6% | -395.9% | -168.8% | -57.0% | -85.1% |
| Free cash flow margin | -38.9% | -136.2% | -77.5% | - | - |
| Return on equity | - | - | - | -187.5% | -70.5% |
| Return on assets | -139.1% | -362.5% | -84.1% | -34.8% | -9.8% |
| Current ratio | 0.97 | 1.01 | 1.47 | 1.29 | 1.07 |
| Debt to equity | - | - | - | 3.12 | - |
Income statement
| Line item | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Sep 30, 2021 | Jun 30, 2021 |
|---|---|---|---|---|---|---|---|
| Selling, general and admin | $357.2K | $6.67M | $1.03M | $504.9K | $838.6K | $146.2K | $11.9K |
| Net income | $1.22M | -$12.48M | -$630.9K | -$310.5K | -$824.8K | -$144.7K | -$11.9K |
| EPS, basic | - | - | - | - | - | - | $0.00 |
| EPS, diluted | - | - | - | - | - | - | $0.00 |
| Diluted shares | - | - | - | - | - | - | 3.1M |
Balance sheet
| Line item | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Sep 30, 2021 | Jun 30, 2021 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $142.8K | $10.50M | $310.8K | $496.3K | $601.7K | $645.9K | $0 |
| Receivables | - | $375.2K | - | - | - | - | - |
| Inventory | - | $3.33M | - | - | - | - | - |
| Current assets | $181.2K | $20.46M | $415.3K | $630.2K | $735.6K | $773.3K | - |
| Total assets | $150.50M | $40.88M | $147.65M | $147.47M | $147.42M | $147.53M | $425.5K |
| Current liabilities | $3.37M | $15.87M | $2.66M | $1.86M | $1.49M | $49.7K | $412.9K |
| Short-term debt | - | $7.29M | - | - | - | - | - |
| Long-term debt | - | $16.38M | - | - | - | - | - |
| Total debt | - | $23.67M | - | - | - | - | - |
| Total liabilities | $8.40M | $33.28M | $7.69M | $6.89M | $6.52M | $5.08M | - |
| Shareholders' equity | -$5.34M | $7.60M | -$4.40M | -$3.38M | -$2.85M | -$1.30M | $12.6K |
Cash flow
| Line item | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Sep 30, 2021 | Jun 30, 2021 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$109.1K | -$5.17M | -$185.5K | -$105.4K | -$9.2K | - | - |
Key ratios
Source: XBRL data Marti Technologies Inc. files with the SEC, latest filing dated Apr 13, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
MRT peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| MRT | $39.24M | +110.3% | -$41.45M | -105.6% | $178.0M |
| UHAL | $6.14B | +2.8% | $168.79M | 2.7% | $11.01B |
| R | $13.08B | +3.2% | $520.00M | 4.0% | $10.18B |
| UHAL.B | $6.14B | +2.8% | $168.79M | 2.7% | $9.72B |
| CAR | $11.63B | -0.6% | -$812.00M | -7.0% | $4.20B |
| HTZ | $9.04B | +6.2% | -$347.00M | -3.8% | $582.9M |
| VAI | $1.98M | -3.1% | -$37.94M | -1913.8% | $32.0M |
MRT FAQ
9 questionsWhat is MRT revenue?
Marti Technologies Inc. (MRT) reported $39.24M of revenue for fiscal 2025 (ended Dec 31, 2025). That is up 110.3% from the year before.Is MRT profitable?
No. Marti Technologies Inc. reported a net loss of $41.45M for fiscal 2025 (ended Dec 31, 2025).How much cash and debt does MRT have?
Marti Technologies Inc. reported $7.81M in cash and cash equivalents and $85.81M of debt on its most recent balance sheet in SEC filings.How fast is MRT revenue growing?
Marti Technologies Inc.'s revenue changed +110.3% in fiscal 2025, to $39.24M.What is MRT gross margin?
Marti Technologies Inc.'s gross profit was $23.99M on $39.24M of revenue for fiscal 2025 (ended Dec 31, 2025), a gross margin of 61.1%.What is MRT free cash flow?
Marti Technologies Inc. generated -$15.27M of free cash flow for fiscal 2025 (ended Dec 31, 2025), which is operating cash flow of -$14.78M less capital expenditures.What is MRT earnings per share?
Diluted earnings per share were -$0.53 for fiscal 2025 (ended Dec 31, 2025), from SEC filings, restated for any stock split those filings show.When did MRT last report financial results?
The latest statements here come from Marti Technologies Inc.'s 20-F filed on Apr 13, 2026, covering the period ended Dec 31, 2025.Where does this MRT financial data come from?
Quantisnow builds these statements from the structured XBRL data Marti Technologies Inc. files with the SEC. It is provided for information only and is not investment advice.