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Bukalapak grew 7% in Q4, driven by marketplace revenue
Indonesian ecommerce platform Bukalapak.com released its financial report for the fourth quarter of 2024, showing a 7% increase in revenue quarter-on-quarter.
This growth was primarily driven by a 21% rise in marketplace revenue.
However, there was a 9% decline in online-to-offline (O2O) revenue due to restructuring in the company’s fast-moving consumer goods (FMCG) segment.
For the full year 2024, Bukalapak reported 4.5 trillion rupiah (US$293 million) in revenue, with nearly equal contributions from both O2O and marketplace segments.
Adjusted EBITDA for 2024 improved by 28% year-over-year.
Core earnings increased from 42 billion rupiah (US$2.54 million) in 2023 to 443 billion rupiah (US$27 million) in 2024.
The company reported a cash reserve of 19 trillion rupiah (US$1.15 billion).
Recent Bukalapak developments
| Timeline |
|---|
| 31-Jan-2025 📚 Bukalapak leaps into edtech, but not without skeptics Bukalapak shifts focus to edtech with the launch of Edukarier, aiming to empower lifelong learning amid changing market needs. |
| 10-Jan-2025 📉 Bukalapak’s shift to virtual goods: turning point or misstep? Bukalapak shuts down its physical goods marketplace to focus on virtual products amid fierce competition and rising costs. |
| 31-Oct-2024 📈 Bukalapak adjusts strategy amid Q3 loss, plans job cuts Bukalapak revises strategy, focusing on select segments amid layoffs, while Q3 revenue rose 2% but EBITDA remains negative. |
| 30-Oct-2024 📈 Bukalapak’s financial health in 7 charts Bukalapak updates quarterly performance charts, showcasing its growth as Indonesia’s first unicorn listed on the stock exchange. |
| 09-Oct-2024 📈 Bukalapak addresses Temu acquisition rumors as stock reacts Bukalapak denies acquisition rumors by Temu, urging investors to wait for official announcements amid stock surge. |
| 29-Apr-2024 💰 Bukalapak hits adjusted EBITDA profitability, logs 16% revenue jump in Q1 Bukalapak achieves profitability in Q1 2024 with $922,500 in adjusted EBITDA, up 142% from last year amid strong revenue growth. |
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