Indonesia's GoTo Hits Milestone with First Quarterly Net Profit of $12.7M in Q1 2026, Boosting Southeast Asia Tech Sector

Indonesia's leading tech conglomerate GoTo Group has reported its first-ever quarterly net profit of Rp171 billion, equivalent to $12.7 million, in the first quarter of 2026.

This historic achievement marks a dramatic turnaround from a net loss of Rp367 billion in the same period last year, signaling robust recovery and strategic success for the company formed by the merger of Gojek and Tokopedia.

Financial Performance Surge

GoTo's gross transaction value skyrocketed 63% year-on-year to Rp236 trillion, underscoring explosive growth in its ecosystem.

Core gross transaction value also surged 65% to Rp138 trillion, driven primarily by the fintech segment's impressive expansion.

Net revenue climbed 26% to Rp5.3 trillion, while adjusted EBITDA leaped 131% to Rp907 billion, reflecting disciplined cost management.

Segment-Wise Growth and User Expansion

The financial technology arm saw core GTV rise 72% to Rp131 trillion, with net revenue up 58% to Rp1.9 trillion and monthly transacting users hitting 27.5 million.

On-demand services, including mobility and delivery, posted GTV growth of 4% to Rp16.3 trillion and adjusted EBITDA improvement for the seventh straight quarter.

Annual transacting users reached 69 million, a 22% increase, highlighting deepening market penetration in Indonesia's digital economy.

Historical Context and Future Outlook

Founded from the 2021 Gojek-Tokopedia merger, GoTo has navigated post-pandemic challenges through cost cuts and fintech focus, culminating in this profitability milestone.

The company generated positive adjusted free cash flow of Rp1.3 trillion and maintained its full-year adjusted EBITDA guidance of Rp3.2-3.4 trillion amid global uncertainties.

This profit not only boosts investor confidence but also positions GoTo as a Southeast Asian tech leader, potentially inspiring regional startups amid economic headwinds.

Additionally, GoTo enhanced its ESG credentials with an upgraded MSCI rating to 'AA' and distributed Rp110 billion in bonuses to driver-partners.