GoTo posts first-ever quarterly net profit

Indonesia-based GoTo reported its first quarterly net profit for the period ended March 31 at 171 billion rupiah (US$9.92 million) as revenue rose and the company swung from a 367 billion rupiah (US$21.3 million) net loss a year earlier.

The group runs ride-hailing, delivery, payments, and online retail services.

Net revenue rose 26% to 5.3 trillion rupiah (US$307 million) while core gross transaction value climbed 65% to 138 trillion rupiah (US$8 billion) and adjusted EBITDA more than doubled to 907 billion rupiah (US$52.6 million).

Fintech adjusted EBITDA jumped to 364 billion rupiah (US$21.1 million) and on-demand services reached 439 billion rupiah (US$25.5 million) as annual transacting users increased 22% to 69 million.

GoTo kept its 2026 adjusted EBITDA guidance at 3.2 trillion rupiah (US$186 million) to 3.4 trillion rupiah (US$197 million) and cited global macro uncertainty.

🔗 Source: GoTo

🧠 Food for thought

Implications, context, and why it matters.

GoTo’s profit jump comes from stepping back from ecommerce operations

Profit improved after GoTo sold a 75% stake in Tokopedia, its online marketplace, to TikTok in 2024. That deal moved GoTo toward service fees and revenue sharing, instead of running the marketplace itself 1.
The shift moved GoTo away from a cost-heavy model that competed with Shopee, Sea Limited’s ecommerce platform. It now runs a lighter setup tied to TikTok Shop/Tokopedia transaction volume 1.
The restructure aimed to cut cash burn and lift profit on each transaction. It helped support adjusted EBITDA profitability and carried into 2025 2.

The superapp model is moving from expansion to profit

GoTo’s results fit a wider shift in Southeast Asian tech. Investors now favor steady profit per transaction over the old growth-at-all-costs approach 1.
That plan leans more on financial services with better margins. In 1Q25, outstanding consumer loans rose 108% year on year, while fintech and on-demand services reached record segment adjusted EBITDA 3.
The change raises pressure on Grab and Sea Limited, the Singapore-based technology group that owns Shopee. Both face closer scrutiny over a durable route to profit, which could alter competition across the region 1.