Fiserv earnings missed by $0.61, revenue fell short of estimates
ISTANBUL - Marti Technologies, Inc. (NYSE American:MRT), Türkiye’s mobility super app provider, announced Monday it is launching same-hour package delivery services, expanding beyond its core ride-hailing business. The company, currently valued at $187 million, has shown strong revenue growth of nearly 30% over the last twelve months, according to InvestingPro data.
The new service will utilize Marti’s existing network of 382,000 registered motorcycle and car drivers to deliver packages quickly across urban areas, starting with Istanbul before expanding to other major Turkish cities.
According to the company’s press release statement, the urban package delivery market in Türkiye comprises over 200 million deliveries annually and represents a potential revenue opportunity of approximately $400 million.
"Türkiye has a collection of some of the most dynamic urban markets in the world, and our entry into package delivery allows us to better serve the country’s growing needs for expedited deliveries," said Oguz Alper Oktem, Founder and Chief Executive Officer of Marti.
The service will be integrated into Marti’s existing super app, which currently has 6.4 million unique users. Customers will be able to both hail rides and arrange package deliveries through the same platform, with digital package tracking capabilities.
Marti currently operates across 10 Turkish cities, including Istanbul, Ankara, Izmir, and Antalya. The company claims to be the largest provider of car-hailing, motorcycle-hailing, e-scooter, e-bike, and e-moped services in Türkiye.
The move represents Marti’s latest effort to diversify its mobility offerings and leverage its technology platform and operational infrastructure to enter adjacent service categories.
In other recent news, Marti Technologies, Inc. announced an extension of its share repurchase program, allowing the company to buy back up to $2.5 million of its Class A ordinary shares until April 2026. This program was initially set to expire in October 2025. Marti Technologies has also been added to the S&P Global Broad Market Index, which includes over 14,000 companies from developed and emerging markets. Benchmark has maintained its Buy rating on Marti Technologies with a $5 price target, highlighting a 70% year-over-year revenue growth in the first half of 2025. In contrast, Cantor Fitzgerald reiterated a Neutral rating with a $3 price target, noting that revenue was approximately in line with expectations, although EBITDA was slightly below projections.
Marti Technologies reported a significant increase in unique riders, up 107% year-over-year to 2.3 million users, as part of its first-half 2025 performance. The company surpassed its ride-hailing targets ahead of schedule, reaching 2.52 million riders and 357,000 registered drivers by mid-August, exceeding its September targets. Following this achievement, Marti has set new goals of 3.30 million riders and 450,000 registered drivers by the end of the year. These developments reflect Marti’s rapid expansion in its ride-hailing business and successful entry into new markets.
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