PT GoTo Gojek Tokopedia Tbk (IDX: GOTO), the largest digital ecosystem in Indonesia, has announced a strong start to 2025 with record profitability in its first-quarter results.
GoTo Group’s core GTV (Gross Transaction Value) grew by 54% year-on-year (YoY) to Rp83.2 trillion, while total Group GTV increased by 24% YoY to Rp144.6 trillion.
Net revenue for the quarter rose 37% YoY to Rp4.2 trillion, showcasing robust business performance. The Group also achieved adjusted EBITDA of Rp393 billion, a significant improvement compared to a loss of Rp101 billion in the same period last year.
Patrick Walujo, GoTo Group CEO, emphasized, "We’ve started the year with strong momentum, delivering another record-breaking and profitable quarter. This reflects the disciplined execution of our strategy and the strength of our ecosystem model."
Fintech and On-Demand Services Drive GoTo’s Q1 2025 Performance
GoTo’s performance in the first quarter was driven by strong growth in both its Fintech and On-Demand Services units. The Fintech segment saw a remarkable 90% YoY increase in net revenue, which grew to Rp1.2 trillion, fueled by a surge in the lending business.
Consumer loans outstanding grew by 108% YoY to Rp5.7 trillion, highlighting the rapid expansion of GoTo’s lending services. On the other hand, GoTo’s On-Demand Services unit saw net revenue increase by 33% YoY to Rp3.0 trillion.
This growth was supported by a 17% YoY increase in GTV, driven by Mobility and Delivery services, with Delivery showing the strongest performance.
Simon Ho, GoTo Group CFO, stated, "We delivered continued growth and improved profitability across our business even though the month of Ramadan, a period when growth typically slows, took place entirely within the first quarter this year."
Financial Technology Segment Achieves Major Milestones in Q1 2025
The Financial Technology segment was one of GoTo’s standout performers in Q1 2025. Adjusted EBITDA for the segment reached Rp47 billion, a remarkable turnaround from a loss of Rp248 billion in Q1 2024.
Net revenue grew by 90% YoY to Rp1.2 trillion, largely driven by the rapid scaling of the loan book and growth in consumer payments. Lending revenue increased by 168% YoY to Rp763 billion.
Consumer loans outstanding reached Rp5.7 trillion, marking an impressive 108% YoY growth.
GoTo’s digital gifting solution, GoPay Hadiah THR, launched during Ramadan, drove a 35% month-on-month increase in transfer Monthly Transacting Users (MTUs) in March.
This innovation highlights GoTo’s focus on expanding its product offering and increasing engagement within its financial ecosystem.
On-Demand Services Show Robust Growth, Powered by Mobility and Delivery
GoTo’s On-Demand Services segment also showed strong results in Q1 2025. GTV for On-Demand Services grew by 17% YoY to Rp15.7 trillion.
Net revenue for the segment increased by 33% YoY to Rp3.0 trillion, with mobility services growing by 20% and delivery services by 39%. Adjusted EBITDA for On-Demand Services increased by 89% YoY to Rp314 billion.
The growth in the delivery segment was particularly notable, with GoTo’s Food Express service increasing its share of total food GTV for the fifth consecutive quarter.
Additionally, premium mobility orders surged by 156% YoY, underscoring the growing share of high-spending users in GoTo's platform.
The company also saw a 45% YoY increase in advertising revenue, supported by investments in product enhancements and improved targeting capabilities.
PHOTO: GoTo
This article was created with AI assistance.
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