Indonesia’s GoTo Group announced its financial results for the first quarter of 2025, highlighting significant growth and profitability.

The company achieved an adjusted EBITDA of 393 billion rupiah (around US$23.5 million), a recovery from a loss during the same period last year.

The group’s core gross transaction value (GTV) increased by 54% year-on-year (YoY) to 83.2 trillion rupiah (almost US$5 billion).

Meanwhile, net revenue grew 37% YoY to 4.2 trillion rupiah (around US$250.7 million). The net loss for the group narrowed to 276 billion rupiah (around US$16.5 million), reflecting a 34% improvement compared to the previous year.

Its fintech segment saw net revenue rising 90% YoY to 1.2 trillion rupiah (around US$71.6 million). This growth was driven by a 108% YoY increase in its loan book, which reached 5.7 trillion rupiah (around US$340.1 million). Adjusted EBITDA for this segment was 47 billion rupiah (around US$2.8 million), marking its second consecutive profitable quarter.

On-demand services also contributed significantly, achieving an adjusted EBITDA of 314 billion rupiah (around US$18.7 million). The segment’s GTV grew by 17% YoY to 15.7 trillion rupiah (around US$936.9 million), supported by growth in mobility and delivery services.

As of March 31, 2025, GoTo reported a cash position of 21 trillion rupiah (around US$1.3 billion).

The company disclosed the repurchase of 25.9 billion shares, totaling around 1.6 trillion rupiah (around US$95.5 million). This was part of a US$200 million share buyback program approved in 2024.

GoTo reaffirmed its full-year adjusted EBITDA guidance of 1.4 trillion rupiah to 1.6 trillion rupiah for 2025.

🔗 Source: GoTo Group

🧠 Food for thought

1️⃣ Indonesia’s fintech evolution is reaching an inflection point of profitability

GoTo’s remarkable financial turnaround from negative to positive adjusted EBITDA reflects a broader maturation of Indonesia’s fintech sector.

The company’s Financial Technology segment achieving profitability with Rp47 billion adjusted EBITDA demonstrates the sector’s evolution from growth-at-all-costs to sustainable business models 1.

This shift mirrors the broader Indonesian fintech industry’s development, which has grown from just 51 companies in 2011 to 336 in 2023 as the market matures 2.

GoTo’s consumer loan book expansion of 108% year-on-year to Rp5.7 trillion shows how digital financial services are rapidly gaining traction in a country where approximately 99 million people remain unbanked 3.

Recent GoTo developments