PT GoTo Gojek Tokopedia (GOTO) Q1 2026 earnings summary

Executive summary

• Achieved first-ever quarterly net profit of IDR 171 billion in Q1 2026, reversing a net loss of IDR 367 billion year-over-year and marking a significant milestone.

• Group adjusted EBITDA surged 131% year-over-year to IDR 907 billion, reflecting strong operational leverage.

• Net revenue increased 26% year-over-year to IDR 5.3 trillion, driven by robust user and transaction growth.

• Annual transacting users grew 22% to 69 million.

Financial highlights

• Group GTV grew 63% year-over-year to IDR 236.3 trillion; core GTV up 65% to IDR 137.7 trillion.

• Adjusted free cash flow reached IDR 1.3 trillion, with a cash balance of IDR 23 trillion at quarter-end.

• E-commerce service fee income was IDR 288 billion for the quarter.

• Cash recurring fixed costs (excluding credit costs) rose 8%, slower than revenue growth.

• Total assets increased to IDR 46.8 trillion as of 31 March 2026.

Outlook and guidance

• Maintained full-year adjusted EBITDA guidance of IDR 3.2–3.4 trillion despite strong Q1.

• On-demand services adjusted EBITDA guidance for FY26 is IDR 1.7–1.8 trillion; fintech adjusted EBITDA guidance is IDR 1.4–1.5 trillion.

• No specific loan book growth guidance for 2026; focus remains on sustainable, flexible growth.

• Management remains confident in the Group's ability to continue as a going concern.

• Strategic focus includes strengthening infrastructure, leveraging AI, and supporting ecosystem partners.