Marti Reports $18.7m Revenue and $73.9m Net Loss in 2024
Full breakdown of Marti's 2024 financials
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Contents
About Marti
2024 Financial Performance
Chart: Revenue vs Net Result
Cost Structure
P&L Shapshot
Cash Position & Balance Sheet
Consolidated Balance Sheet
2025 Outlook
Conclusion
About Marti
Marti is Turkey’s leading mobility app, offering multiple transportation services to its riders. Marti operates a ride-hailing service that matches riders with car, motorcycle, and taxi drivers, and owns and operates a large fleet of e-mopeds, e-bikes, and e-scooters. Marti operates in 4 of Turkey’s largest cities.
2024 Financial Performance
Marti reported total revenue of $18.66m in 2024, a 6.8% decline from $20.03m in 2023. The drop was primarily due to a reduced number of micromobility vehicles in service, which averaged 32,597 for the year (2023: 34,585).
Despite revenue decline, Marti improved gross profit by 28.8%, cutting gross loss from -$4.05m to -$2.88m. These gains were driven by increased vehicle lifespan, exits from low-margin cities, and field operations efficiency.