PT GoTo Gojek Tokopedia Tbk (GoTo Group) reported a second consecutive quarter of net profit after posting Rp252 billion in the second quarter of 2026, while net revenue increased 31% year-on-year to Rp5.7 trillion (29/07).

The company also recorded an 83% year-on-year increase in Core Gross Transaction Value (Core GTV) to Rp164 trillion. Group adjusted EBITDA rose 137% from a year earlier to Rp1.01 trillion, marking the first time it exceeded Rp1 trillion in a single quarter.

Annual Transacting Users grew 19% year-on-year to 71 million during the reporting period.

GoTo Posts Second Consecutive Quarterly Net Profit in Q2 2026

GoTo Group Chief Executive Officer Hans Patuwo said the company delivered its second straight quarter of net profit as adjusted EBITDA more than doubled from a year earlier.

"We delivered our second consecutive quarter of net profit, as adjusted EBITDA more than doubled year-on-year to surpass the historic milestone of one trillion Rupiah. Our Fintech business continues to do well, with its profitability now exceeding that of our On-demand Services business for the first time, reflecting the strength and balance of our ecosystem."

Patuwo said a new commission structure for Gojek's two-wheel transportation business took effect on July 1 under Minister of Transportation Decree No. 532 of 2026, covering around 7% of the group's net revenue.

"The effect of this commission change will be felt in our third quarter earnings, but after one month of implementation, we have been able to keep business conditions stable."

He added that the company is maintaining its full-year adjusted EBITDA guidance despite the expected impact of the new commission structure.

"The adjustment is not an easy one, but we believe we can manage the impact. As a result, we are maintaining our adjusted EBITDA guidance of 3.2 to 3.4 trillion Rupiah, forecasting a reduced contribution from On-demand Services and an increased contribution from our Fintech business."

Patuwo also said the company continues to expand support for Gojek driver-partners through its Driver-partner Appreciation Program, including BPJS coverage, scholarships, and free Umrah trips.

Fintech Business Leads GoTo's Earnings Growth

GoTo's Financial Technology segment recorded adjusted EBITDA of Rp481 billion, up 447% year-on-year, while net revenue increased 53% to more than Rp2 trillion.

Monthly Transacting Users reached 28.8 million, an increase of 29% from a year earlier. Transactions grew 91% year-on-year to 2.4 billion.

Core GTV, excluding merchant payment gateway transactions, rose 91% year-on-year to Rp157 trillion.

Loans outstanding principal increased 58% year-on-year to Rp11 trillion. The company said credit quality remained stable, with steady delinquency rates and non-performing loan ratios.

Gojek On-Demand Services Delivers Higher Profitability

The On-demand Services business generated adjusted EBITDA of Rp464 billion, an increase of 41% year-on-year, supported by net revenue of Rp3.6 trillion.

Completed orders increased 3% year-on-year and 8% quarter-on-quarter. Gross Transaction Value for the segment rose 2% year-on-year to Rp16.7 trillion as the company prioritized margin expansion before the implementation of the new 8% commission regulation.

Delivery margins improved to 2.1% from 1.8% a year earlier, while mobility margins increased to 5.0% from 3.0%.

The company said the Very High Spending customer segment grew 21% year-on-year. It also said investments in the mass market are beginning to support growth and, together with the implementation of the new commission structure, will shift focus toward affordable, high-frequency products.

GoTo Maintains 2026 EBITDA Guidance and Plans Treasury Share Cancellation

GoTo maintained its full-year adjusted EBITDA guidance at Rp3.2 trillion to Rp3.4 trillion.

The company raised its Fintech adjusted EBITDA guidance to Rp1.7 trillion-Rp1.8 trillion from Rp1.4 trillion-Rp1.5 trillion. It lowered On-demand Services adjusted EBITDA guidance to Rp1.4 trillion-Rp1.5 trillion from Rp1.7 trillion-Rp1.8 trillion following the implementation of the 8% commission cap.

Alongside its financial results, GoTo announced its intention to cancel more than 32 billion treasury shares, representing approximately 2.7% of shares outstanding. The company said it will complete the required regulatory process and seek shareholder approval before proceeding with the proposed cancellation.

PHOTO: GOTO

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