PT GoTo Gojek Tokopedia (GOTO) Q3 2025 earnings summary

Executive summary

• Achieved record adjusted pre-tax profit of IDR 62 billion ($3.7 million) and adjusted EBITDA of IDR 516 billion ($30.9 million), up 239% year-on-year, with annual transacting users reaching 61.1 million, about 30% of Indonesia's adult population.

• Raised full-year adjusted EBITDA guidance to IDR 1.8–1.9 trillion ($108–113 million) due to strong performance.

• Achieved significant profitability improvements in 2024, meeting guidance through revenue growth, cost management, and ecosystem expansion.

• Strategic partnership with TikTok led to deconsolidation of TOKO, now recognized as an associate, with TikTok holding 75.01% and the group retaining 24.99%.

• Management remains optimistic about long-term growth, leveraging a unique ecosystem and strong network effects.

Financial highlights

• Group net revenue rose 21% year-on-year to IDR 4.7 trillion ($284 million), with net revenues for the nine months ended 30 September 2025 at Rp13,295,481 million.

• Fintech net revenue increased 55% year-on-year to IDR 1.5 trillion ($92 million), with loan book up 76% to IDR 7.6 trillion ($457 million).

• On-demand services net revenue grew 10% year-on-year to IDR 3.2 trillion ($192 million), with net segment revenue of Rp9,030,224 million after incentives.

• Positive adjusted free cash flow of IDR 247 billion ($14.8 million) for the quarter.

• Cash, cash equivalents, and short-term deposits stood at IDR 18 trillion ($1.1 billion) as of September 30, 2025.

Outlook and guidance

• Full-year adjusted EBITDA guidance raised to IDR 1.8–1.9 trillion ($108–113 million), up from previous IDR 1.4–1.6 trillion.

• Profitability is expected to be further supported by the strategic partnership in the E-commerce segment.

• Focus on expanding the financial technology user base and loan book while maintaining healthy delinquency rates.

• On-demand services will prioritize product innovation and internal synergies to drive revenue and profitability.

• Both fintech and on-demand services expected to exceed individual guidance.