Hitit Reports USD$ 23M in Revenue in the First Half of 2026

Hitit Reports USD$ 23M in Revenue in the First Half of 2026

Hitit (HTTBT), Türkiye’s global technology exporter in airline and travel technology, increased its sales revenue by 16% to USD$ 23M in the first six months of 2026. The company maintained an EBITDA margin of 40%, while 79% of its revenue was generated in foreign currencies.

Istanbul, August 12, 2026  – Hitit (HTTBT), one of the world’s leading companies in airline and travel technology, announced its financial results for Q2 2026. According to the disclosure made through Türkiye’s Public Disclosure Platform (KAP), the company increased its sales revenue by 16% Year-on-Year to USD$ 23M in the first six months of the year. During the same period, Hitit’s EBITDA reached USD$ 9.1M, while its EBITDA margin stood at 40%.

With 79% of its revenue generated in foreign currencies, Hitit continued to maintain a strong and resilient revenue structure. As of June 30, 2026, the company’s cash and cash equivalents stood at USD$ 7.6M, while its net cash position was USD$ 3.8M.

Serving 68 airline partners across 47 countries on six continents, Hitit completed 15 implementation projects in the first half of the year. As of the end of the period, 15 additional implementation projects were ongoing. The company continued to support revenue growth through its scalable SaaS business model and the expanding operations of its existing partners.

“Strengthening Our Financial Resilience Through Efficiency and Investment Discipline”

Sezer Tuğ Özmutlu, Hitit’s CFO, commented on the company’s financial results for the first half of 2026: “We have left behind a period in which fluctuations in the global economy, financing conditions, and cyclical developments placed pressure on costs. Despite these conditions, Hitit increased its dollar-denominated revenue by a significant 16% in the first half of the year while maintaining an EBITDA margin of 40%. In doing so, we continued to preserve the financial quality of our growth. With 79% of our revenue generated in foreign currencies, we have a natural hedge against macroeconomic fluctuations. At the same time, the efficiency gains achieved through effective cost management, disciplined resource allocation, and increased business volumes continued to support our profitability. Our USD$ 3.8M net cash position and strong liquidity structure also enable us to maintain our financial flexibility and sustain our operations and investments on a healthy financial foundation.”

Ms. Özmutlu continued: “We assess our financial performance not only in terms of profitability, but also in terms of our ability to sustain our production capabilities and investment capacity as we grow, use our resources efficiently, and preserve our financial strength. In the first six months of the year, our technology investments, particularly in R&D and product development, reached USD$ 10.4M. While maintaining our pace of investment, we remain focused on preserving financial discipline. Our focus in financial management is to strengthen the conversion of growth into profitability and cash generation, maintain the right balance between investment and resource allocation, and support Hitit’s long-term value creation capacity.”

Hitit’s CEO, Nevra Onursal Karaağaç, commented on the company’s first-half performance: “As we look back on the first half of 2026, we see that the aviation industry continues to be influenced by a range of external dynamics, particularly geopolitical developments in the Middle East and volatility in energy costs. Rising oil and jet fuel prices have led airlines to adopt a more cautious approach to operational planning, while also affecting the industry’s overall outlook. We continue to closely monitor these dynamics and manage our resources and priorities with agility. At Hitit, our customer portfolio spanning six continents and the diversity of our business model together provide a strong foundation for our long-term growth strategy. In line with this approach, we remain focused on developing technology solutions that enhance our customers’ operational efficiency.”

Emphasizing the important role technology plays in helping airlines adapt to changing market conditions, Ms. Karaağaç continued: “Throughout our 32 years of industry experience, we have seen first-hand the strategic importance of technology, innovation, and automation in helping airlines increase revenues and improve operational efficiency. Growing interest from airlines in these areas is paving the way for new partnerships with technology providers, as well as deeper collaboration with existing partners. In line with this, we continued our R&D investments and product development efforts during Q2. We brought new partners live on Hitit Oxygen, while the platform’s daily transaction volume exceeded 10 billion. We also completed the cloud transformation of the Hitit Payment Services Platform and continue to work on AI-powered fraud prevention infrastructure and next-generation payment technologies. On the ADS side, we are expanding the scope of our platform by developing new solutions and further strengthening the Hitit ecosystem. Going forward, we will continue investing in technology and innovation to develop solutions that support our customers’ efficiency and growth.”