Hitit Reports USD$ 11.4M Revenue and 19% Growth in Q2 2026
Hitit (HTTBT), Türkiye’s global technology exporter in the airline and travel technology sector, closed Q1 2026 with 19% growth and USD$ 11.4 million in revenue. The company reported an EBITDA margin of 37%, while the number of passengers traveling via Hitit’s technologies increased by 18% compared to the same period last year.
09 May 2026, Istanbul – Hitit (HTTBT), one of the world’s leading companies in the airline and travel technology sector, has announced its financial results for Q1 2026. According to a statement filed with the Public Disclosure Platform (KAP), the company increased its sales revenue by 19% year-over-year, reaching USD$ 11.4 million. During the same period, earnings before interest, taxes, depreciation, and amortization (EBITDA) totaled USD$ 4.1 million, corresponding to an EBITDA margin of 37%.
A total of 77% of Hitit’s sales were generated in foreign currency, while 59% of its revenue came from overseas operations. As of March 31, 2026, the company’s net cash position stood at USD$ 4.9 million.
Providing services to 67 partner airlines across 47 countries on six continents, Hitit completed seven implementation projects for existing partners during Q1. By the end of the period, a total of 15 active implementation projects were underway for both existing and new partners. Passenger numbers, which form the basis of SaaS revenue, also increased by 18% compared to the same period last year.
“Strengthening Our Transition Toward Operational Efficiency”
Nevra Onursal Karaağaç, CEO of Hitit, stated that the company continues to strengthen its operational scaling in line with its sustainable growth strategy: “We maintained our strong operational performance in Q1 2026. We continue to grow alongside our partner airlines, serving 47 countries across six continents. The increase in passenger numbers stems not only from acquiring new partners but also from the expanding operations of our existing partners. Thanks to our high recurring revenue structure and the scalable nature of our SaaS model, we continue to maintain sustainable growth.”
“Increasing Efficiency Through Our Artificial Intelligence Projects”
Karaağaç shared the following details about Hitit’s work in next-generation airline technologies: “We are continuing our investments in AI-powered next-generation solutions and modern airline retailing. Hitit Oxygen is currently one of the most comprehensive airline retailing platforms in active use today. Additionally, live operations have begun for the Hitit Payment Orchestration Platform (HPO). Furthermore, we continue our work on AI integrations, which we believe will play a significant role in the future of the airline industry.”
“Strong Cash Position Continues to Support Our Investments”
Sezer Tuğ Özmutlu, Hitit’s CFO, provided the following assessment regarding the company’s financial structure and investments: “In Q1 2026, our focus on sustainable growth and operational efficiency remained unchanged. Supported by our strong cash generation capacity and disciplined financial structure, we continued to invest in technology and product development. As of March 31, 2026, our net cash position stood at USD$4.9 million. Our strong liquidity position enables us to finance strategic investments largely through internal resources, while also providing the company with significant financial flexibility.”
Özmutlu continued: “In Q1 2026, our total R&D and technology investments reached USD$5.3 million. These investments support not only the development of new products and technologies, but also the improvement of operational efficiency, revenue quality, and our scalable profitability structure. In particular, we expect our investments in artificial intelligence, payment systems, and modern airline retail to make a stronger contribution to both operational scalability and financial performance in the coming period.
Supported by our recurring revenue-focused business model, strong foreign currency-based revenue structure, and global operations, we continue to advance our sustainable growth strategy. Our expectations for 2026 remain unchanged. Based on the US dollar, we project revenue growth in the 25–30% range, an EBITDA margin in the 43–48% range, a net profit margin in the 25–30% range, and a recurring revenue ratio at the 90–95% level.”
Sustainability and Social Impact Initiatives Continue
Hitit continued its initiatives in sustainability and social responsibility during Q1 2026. The company continues to integrate its sustainability approach not only into its technology and operational processes, but also into projects focused on education, sports, health, and gender equality.
As part of the “Rackets Up” social responsibility project, carried out in collaboration with the Turkish Table Tennis Federation, new initiatives were launched in Hatay. In addition, Hatay was selected as the first province for the implementation of the “It’s Your Turn” education project. Initiatives under the “GökyüzündeyİZ – Women in Aviation Platform,” along with sustainability projects in various other fields, also continued throughout Q1
