GoTo Group reports record Q4 EBITDA as GTV jumps 57%

Indonesia’s GoTo Group reported a full-year adjusted EBITDA of 2 trillion rupiah (around US$118.4 million) for the fourth quarter of 2025 and twelve months of the same year, which it said beat its guidance of 1.8 trillion to 1.9 trillion rupiah (around US$106.6 million to US$112.5 million).

The company said Q4 adjusted EBITDA reached a record 672 billion rupiah (around US$39.8 million), and it set 2026 adjusted EBITDA guidance at 3.2 trillion to 3.4 trillion rupiah (around US$189.5 million to US$201.3 million), implying a 59% to 69% year-on-year rise.

Group core gross transaction value (GTV) rose 57% year-on-year to 124 trillion rupiah (around US$7.3 billion) in Q4, and reached 400 trillion rupiah (around US$23.7 billion) for the full year, which went up 49%.

Meanwhile, annual transacting users increased 24% to 66 million.

Group net revenue was 5 trillion rupiah (around US$296.1 million) in Q4, up 19% year-on-year, and 18.3 trillion rupiah (around US$1.1 billion) for the full year, up 24%.

Adjusted free cash flow was 748 billion rupiah (around US$44.3 million) in Q4 and 966 billion rupiah (around US$57.2 million) for the year.

Its financial tech segment reported adjusted EBITDA of 226 billion rupiah (around US$13.4 million) in Q4 and 497 billion rupiah (around US$29.4 million) for the year.

Separately, on‑demand services posted 415 billion rupiah (around US$24.6 million) in Q4, up 55% year-on-year, and 1.4 trillion rupiah (US$82.9 million) for the year, up 105%.

Ecommerce service fee was 193 billion rupiah (around US$11.4 million) in Q4 and Rp820 billion (around US$48.6 million) for the full year.

🔗 Source: GoTo Group

🧠 Food for thought

Implications, context, and why it matters.

GoTo’s year-end results built on faster gains

Results improved quarter by quarter, moving closer to profitability.
GoTo posted adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) of Rp 427 billion in Q2, Rp 516 billion in Q3, then a record Rp 672 billion in Q4 1 2.
After Q3, GoTo lifted full-year guidance to Rp 1.8 trillion to Rp 1.9 trillion and finished above that range.
In Q3, the company generated its first adjusted pre-tax profit, marking the turnaround ahead of the full-year numbers 2.

GoTo’s profitability suggests a shift for emerging market super-apps

The results add weight to the “super-app” model, which bundles ride-hailing, payments, and shopping, and often draws criticism for chasing scale over profits.
Positive adjusted EBITDA plus free cash flow suggest an integrated digital ecosystem in Indonesia can fund itself.
The move from cash burn to profits may reshape investor expectations for similar Southeast Asian tech platforms, with more focus on a clear route to positive earnings.
Even so, investor returns can lag operating progress since one discounted cash flow analysis, a valuation method that estimates a business based on expected future cash generation, still tagged the stock as potentially overvalued after the release 3.