PT GoTo Gojek Tokopedia Tbk reported its first net profit of Rp171 billion in its first-quarter 2026 financial results, compared to a net loss of Rp367 billion in the same period last year (28/04).

The achievement marks a key milestone following years of efforts to build a profitable and financially disciplined business.

Hans Patuwo, GoTo Group CEO, said: “Achieving net profit for the first time in our history is a big moment for GoTo that demonstrates our business model is working.”

Revenue Growth and EBITDA Drive Financial Turnaround

Net revenue increased 26% year-on-year to Rp5.3 trillion, supported by strong growth in core gross transaction value (GTV), which rose 65% to Rp138 trillion.

Adjusted EBITDA grew 131% year-on-year to Rp907 billion, showing progress toward the company’s full-year guidance of Rp3.2–3.4 trillion.

The company also recorded positive adjusted free cash flow of Rp1.3 trillion, reflecting improved cost discipline and stronger business fundamentals.

Simon Ho, GoTo Group CFO, said: “Revenue growth significantly outpaced cost growth across both Fintech and On-demand Services, and our cost to serve is falling as our tech and AI strategy takes hold.”

Fintech and On-Demand Segments Post Strong Gains

The fintech segment recorded adjusted EBITDA growth of 674% year-on-year to Rp364 billion.

Monthly transacting users increased 33% to 27.5 million, contributing to more than two billion transactions during the quarter.

Loans outstanding grew 59% to Rp9.9 trillion, supported by increased usage of financial services.

On-demand services reported adjusted EBITDA growth of 40% to Rp439 billion.

Net revenue in this segment rose 12% year-on-year to Rp3.4 trillion, with delivery services contributing to growth.

User Expansion and AI Strategy Improve Efficiency

Group annual transacting users increased 22% year-on-year to 69 million, representing around one-third of Indonesia’s adult population.

The company introduced a unified artificial intelligence program to improve efficiency, reduce cost to serve, and increase user engagement.

GoTo also distributed approximately Rp100 billion in holiday bonuses to driver-partners and began providing social security programs to eligible participants.

Company Maintains 2026 Profitability Outlook

GoTo expects continued growth and improved profitability throughout 2026 and reaffirmed its adjusted EBITDA guidance of Rp3.2–3.4 trillion.

The outlook remains subject to uncertainties including macroeconomic conditions, market competition, and cost inflation.

PHOTO: GOTO

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