GoTo posts Rp441 billion quarterly profit and raises 2026 earnings target

PT. GoTo Gojek Tokopedia Tbk reported net profit of Rp441 billion for the third quarter of 2026, compared with a Rp255 billion net loss a year earlier. Chief executive Hans Patuwo said the company was raising its full-year adjusted EBITDA target to Rp3.5–3.7 trillion.

The company reported core gross transaction value (GTV) of Rp194 trillion, an increase of 89% year on year, while net revenue grew 17% to Rp5.6 trillion. Adjusted EBITDA reached Rp950 billion, up 84%, and adjusted free cash flow increased 389% to Rp1.2 trillion.

GoPay recorded adjusted EBITDA of Rp550 billion, up 304%. Its monthly transacting user count grew 26% to 30.4 million, while transactions increased 86% to 2.8 billion. The loan book expanded 51% to Rp12 trillion.

Gojek’s on-demand services business completed 9% more orders as it sought to reach a broader mass-market customer base. GTV rose 1% to Rp16.9 trillion, reflecting lower-value mass-market orders and GoRide pricing adjustments linked to the 8% commission. The segment’s adjusted EBITDA increased 3% to Rp347 billion.

Within that business, Mobility’s adjusted EBITDA fell 16% to Rp159 billion, with its margin narrowing by 50 basis points to 2.5%. GoTo put the quarterly impact of GoRide’s 8% commission at Rp150 billion. Delivery’s adjusted EBITDA rose 20% to Rp227 billion.

Shareholders approved the cancellation of 32 billion treasury shares, equivalent to about 2.7% of outstanding shares, at an extraordinary general meeting on 14 October 2026. The cancellation is to take effect two to three months after all regulatory procedures are completed.

GoTo also said it had spent Rp985 billion buying back 36 billion shares by 29 October. It began those purchases after the Indonesia Stock Exchange removed the Rp50 minimum price on 28 September 2026. A further Rp2.5 trillion remained allocated for buybacks through June 2027.