GoTo Group’s on-demand services, including mobility and food delivery operated by ride-hailing firm Gojek, could turn a profit by Q4 2023 after the adjusted EBITDA loss for the segment dropped 95% last quarter.

Budget-cutting measures, reducing incentive expenses, expanding the market base, and shifting towards proprietary technology are part of GoTo’s strategies to achieve profitability.

Gojek chief transport officer Shobhit Singhal tells Tech in Asia that recent transport initiatives like GoCar Hemat can help the company manage costs and unlock 50% to 60% more customers over the medium term.