NYSEAM:MRT

Marti’s Ride-Hailing Service Reaches Over 925,000 Riders and Over 155,000 Registered Drivers, Exceeding June 30, 2024 Targets a Month and a Half Earlier Than Planned

Retrieved on: 
Tuesday, May 21, 2024
Public Transport, Apps, Applications, Technology, Automotive, Transport, Software, Transportation, Travel, Fleet Management, McKinsey & Company, Growth, Safety, MRT, Ridesharing

These figures have already exceeded the June 30, 2024 targets of 900,000 riders and 155,000 registered drivers and have been achieved a month and a half earlier than planned.

Key Points: 
  • These figures have already exceeded the June 30, 2024 targets of 900,000 riders and 155,000 registered drivers and have been achieved a month and a half earlier than planned.
  • Marti’s number of ride-hailing riders grew 86% from December 31, 2023 to May 20, 2024.
  • The service intends to provide readily available, safe, and affordable rides for riders, while providing economic opportunities for drivers across the income spectrum.
  • Marti currently does not enable online payment for the service over its app, or charge a fee for the service.

Marti Technologies, Inc. Appoints New Chief Financial Officer

Retrieved on: 
Friday, May 17, 2024
Apps, Applications, Other Transport, Technology, Automotive, Finance, Transport, Professional Services, Software, IOT (Internet of Things), Fleet Management, Business administration, Marti, CFO, SAP implementation, GSK, MRT, CIS, Country, Management

Marti Technologies, Inc. (“Marti” or the “Company”) (NYSE American: MRT), Türkiye’s leading mobility super app, today announced that it has appointed Oguz Erkan as its new Chief Financial Officer (“CFO”), effective May 17, 2024.

Key Points: 
  • Marti Technologies, Inc. (“Marti” or the “Company”) (NYSE American: MRT), Türkiye’s leading mobility super app, today announced that it has appointed Oguz Erkan as its new Chief Financial Officer (“CFO”), effective May 17, 2024.
  • Oguz is an experienced finance executive, having led the finance departments of the Turkish subsidiaries of US publicly listed companies.
  • “We thank Cem Yasar Ozey for his contributions to Marti during his tenure as CFO.
  • Preceding his appointment at Marti, he served as the Country CFO of GlaxoSmithKline ("GSK") Türkiye, a global biopharmaceutical corporation, since July 2019.

Marti Announces Amendment to up to $2.5M Share Repurchase Program

Retrieved on: 
Thursday, April 25, 2024
Data Management, EV, Electric Vehicles, Automotive, Technology, IOT (Internet of Things), Apps, Applications, Software, Alternative Vehicles, Fuels, Motorcycles, Mobile, Wireless, Fleet Management, Share repurchase, MRT, Repurchase agreement, Security (finance)

Türkiye’s leading mobility super app Marti Technologies, Inc. (“Marti” or the “Company”) (NYSE American: MRT) today announced an amendment to its share repurchase program.

Key Points: 
  • Türkiye’s leading mobility super app Marti Technologies, Inc. (“Marti” or the “Company”) (NYSE American: MRT) today announced an amendment to its share repurchase program.
  • In addition, the Board set a ceiling price of $3.30 per share for the share repurchases, giving the Company the ability to perform share repurchases up to a maximum share price of $3.30.
  • The amended repurchase program is effective immediately and is valid until October 9, 2024 (the “Repurchase Program”).
  • The Board may periodically review the Company’s Repurchase Program and decide to extend its terms or increase the authorized amount.

Marti’s Ride-Hailing Service Reaches Over 788,000 Riders and Over 145,000 Registered Drivers

Retrieved on: 
Wednesday, April 24, 2024
Automotive, General Automotive, Apps, Applications, Technology, Software, Fleet Management, McKinsey & Company, MRT, Safety, Growth, Ridesharing

Marti’s number of ride-hailing riders grew 58% from December 31, 2023 to April 23, 2024.

Key Points: 
  • Marti’s number of ride-hailing riders grew 58% from December 31, 2023 to April 23, 2024.
  • The number of registered drivers grew 36% during the same time period.
  • The service intends to provide readily available, safe, and affordable rides for riders, while providing economic opportunities for drivers across the income spectrum.
  • Marti currently does not enable online payment for the service over its app, or charge a fee for the service.

Marti Announces Full Year 2023 Results

Retrieved on: 
Tuesday, April 16, 2024
Other Transport, Transport, Public Transport, Apps, Applications, Technology, Net income, United States dollar, Depreciation, City, Yoy, Software as a service, Tax, Algorithm, Acquisition, Cost, Marketing, Adjustment, GAAP, G&A, Hatay Province, Bookkeeping

Revenue for our Two-wheeled Electric Vehicle Service is the same as consolidated Revenue given Marti does not yet charge for the Ride-Hailing Service.

Key Points: 
  • Revenue for our Two-wheeled Electric Vehicle Service is the same as consolidated Revenue given Marti does not yet charge for the Ride-Hailing Service.
  • In 2023, we ceased operations in Adana, Bursa, Eskisehir, Gaziantep, Hatay, Isparta, Samsun, Tekirdag, and Yalova.
  • The acquisition follows a pilot project which we completed with Zoba in October and November 2023, in which the use of Zoba software to optimize our vehicle deployment locations increased ridership of Marti vehicles and had a positive contribution to profitability(*).
  • Marti is presenting its full year 2024 guidance, as summarized below:

Marti Technologies, Inc. to Report Full Year 2023 Results on April 16, 2024

Retrieved on: 
Friday, April 12, 2024
Automotive, General Automotive, Apps, Applications, Technology, Transport, Public Transport, Other Transport, MRT, Cryptocurrency

Marti Technologies, Inc. (“Marti”) (NYSE American: MRT), Türkiye’s leading mobility super app, will announce its full year 2023 financial and operational results before the U.S. markets open on Tuesday, April 16, 2024.

Key Points: 
  • Marti Technologies, Inc. (“Marti”) (NYSE American: MRT), Türkiye’s leading mobility super app, will announce its full year 2023 financial and operational results before the U.S. markets open on Tuesday, April 16, 2024.
  • Marti’s management will host an analyst and investor conference call and live webcast to discuss its financial results at 3:30 p.m. Istanbul / 1:30 p.m. London / 8:30 a.m. New York time on Tuesday, April 16, 2024.
  • Live webcast can be accessed via: https://event.choruscall.com/mediaframe/webcast.html?webcastid=qlMJcjkO
    A replay will be available on the Marti Investor Relations website https://ir.marti.tech/ following the call.
  • Marti’s results presentation will be available on Marti Investor Relations website https://ir.marti.tech/ on April 16, 2024.

Marti Launches Taxi-Hailing Service as Its Sixth Urban Transportation Modality

Retrieved on: 
Wednesday, February 28, 2024
Software, Internet, Other Transport, Public Transport, Technology, Apps, Applications, Transport, Other Technology, MRT, Growth, McKinsey & Company, Ridesharing

As the largest multi-modal urban mobility operator in the country, and in line with its goal of offering a single app to meet all of the transportation needs of urban residents, Marti today announced the launch of its taxi-hailing service as its sixth modality.

Key Points: 
  • As the largest multi-modal urban mobility operator in the country, and in line with its goal of offering a single app to meet all of the transportation needs of urban residents, Marti today announced the launch of its taxi-hailing service as its sixth modality.
  • The launch of the service follows and complements the growth of the company’s car-hailing service which was launched in October 2022.
  • Marti launched the taxi-hailing service as a result of observing numerous taxi drivers using its ride hailing service to receive ride requests from Marti’s over 4.7 million unique riders.
  • The pilot service launch is being conducted in Istanbul, and Marti is not charging drivers a commission to use the service.

Marti Acquires Zoba’s AI-Powered Optimization Platform to Increase Ridership and Reduce Operational Costs

Retrieved on: 
Monday, February 5, 2024
Software, Internet, Other Transport, Public Transport, Technology, Apps, Applications, Transport, Other Technology, MRT, Intellectual property, Harvard University, City, Acquisition, MIT, Algorithm, Software as a service, Forecasting, Ridesharing

Founded by Harvard and MIT graduates, Zoba’s AI-powered SaaS platform and dynamic fleet optimization algorithms are expected to enable two-wheeled electric vehicle operators to generate more revenue and reduce their field operations costs.

Key Points: 
  • Founded by Harvard and MIT graduates, Zoba’s AI-powered SaaS platform and dynamic fleet optimization algorithms are expected to enable two-wheeled electric vehicle operators to generate more revenue and reduce their field operations costs.
  • Leveraging proprietary demand forecasting algorithms, Zoba dynamically optimizes where vehicles are deployed and when operational tasks, such as battery swaps, rebalances, and pick-ups, occur to maximize ridership and minimize vehicle operational inefficiencies.
  • The Company embarked on its operational efficiency enhancing projects in 2023 and is further building on its efforts in 2024.
  • “As part of our efforts to increase revenue and reduce the costs of our two-wheeled electric vehicle operations, we performed pilot projects with several optimization software providers.

Marti introduces multi-modal subscription packages to increase rider usage and improve the operational efficiency of its two-wheeled electric vehicle business

Retrieved on: 
Monday, January 29, 2024
Apps, Applications, Mobile, Wireless, Technology, EV, Electric Vehicles, Automotive, Software, Transportation, Data Management, Motorcycles, Travel, City, MRT, Ridesharing

As the largest multi-modal mobility operator in the country, Marti today announced the introduction of subscription packages for riders to use its two-wheeled electric vehicle services.

Key Points: 
  • As the largest multi-modal mobility operator in the country, Marti today announced the introduction of subscription packages for riders to use its two-wheeled electric vehicle services.
  • The subscription packages are part of Marti’s efforts, launched in 2023 and which the Company is building on in 2024, to increase ridership and improve the operational efficiency of its two-wheeled electric vehicle services.
  • In pilot studies conducted across various cities prior to the launch of the subscription packages, the packages demonstrated increased ridership among package subscribers and a positive contribution to Marti’s operational efficiency and profitability(*).
  • The subscription packages are currently valid for use on Marti’s e-bikes, e-mopeds, and e-scooters.

Marti Announces up to $2.5M Share Repurchase Program

Retrieved on: 
Wednesday, January 10, 2024
Transportation, Automotive, Technology, IOT (Internet of Things), Travel, Other Transport, Public Transport, Transport, Apps, Applications, Software, Alternative Vehicles, Fuels, MRT, Repurchase agreement, Share repurchase, Growth, Security (finance)

Türkiye’s leading mobility super app Marti Technologies, Inc. (“Marti” or the “Company”) (NYSE American: MRT) today announced a share repurchase program.

Key Points: 
  • Türkiye’s leading mobility super app Marti Technologies, Inc. (“Marti” or the “Company”) (NYSE American: MRT) today announced a share repurchase program.
  • The repurchase program is effective immediately and is valid for a period of six months from such date (the “Repurchase Program”).
  • The Board may periodically review the Company’s Repurchase Program and decide to extend its terms or increase the authorized amount.
  • The Repurchase Program is being financed from the proceeds of a $5.0 million convertible note investment made by Farragut Square Global Master Fund.