GoTo Group, ticker code GOTO, recorded a net loss of 655 billion rupiah (US$42 million) in the third quarter of 2024, which marked a 58% year-on-year decline.

This compares with a loss of 559 billion rupiah (US$35.83 million) in the previous year. The shift was attributed to a 21% increase in monthly transacting users.

Meanwhile, the company’s core gross transaction value (GTV) jumped 74% year-on-year to 72 trillion rupiah (US$4.62 billion).

Group GTV rose 37% to 137.4 trillion rupiah (US$8.81 billion), while gross revenue rose 34% to 4.7 trillion rupiah (US$301.3 million).

GoTo’s adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) turned positive to 137 billion rupiah (US$8.78 million).