GoTo Group has recorded its first net profit since the company’s founding, posting Rp171 billion in the first quarter of 2026 — a swing of Rp538 billion from a net loss of Rp367 billion in the same period last year.

The Indonesian super-app operator, which runs the Gojek ride-hailing and food delivery platform, GoPay payments, and the Tokopedia e-commerce marketplace, reported the milestone alongside a 26% year-on-year increase in net revenue to Rp5.3 trillion and a 131% jump in adjusted EBITDA to Rp907 billion for the January-to-March quarter.

A profitability turning point years in the making

GoTo CEO Hans Patuwo described the result as the outcome of a sustained effort to balance user growth with cost discipline. “Achieving net profit for the first time in our history is a big moment for GoTo,” he said. “It reflects years of work from our teams to drive topline growth and cost discipline, while creating real value for our customers — consumers, driver-partners and merchants.”

The company’s annual transacting user base grew 22% year-on-year to 69 million, representing approximately one in three Indonesian adults. Core gross transaction value rose 65% to Rp138 trillion over the same period.

Fintech leads segment growth

GoTo’s financial technology arm was the standout performer. Fintech adjusted EBITDA surged 674% year-on-year to Rp364 billion — its sixth consecutive profitable quarter — as monthly transacting users grew 33% to 27.5 million and total transactions exceeded two billion, up 84% year-on-year.

The GoPay loan book expanded 59% year-on-year to Rp9.9 trillion, with the company stating that credit quality remained consistent despite the rapid growth.

On-demand services maintain momentum

On-demand services — comprising mobility and food and goods delivery — posted adjusted EBITDA of Rp439 billion, up 40% year-on-year and a seventh consecutive quarter of improvement. Net revenue for the segment rose 12% to Rp3.4 trillion.

Mobility gross transaction value dipped 3% year-on-year to Rp5.7 trillion, attributed to seasonal factors, while delivery GTV grew 8% to Rp10.6 trillion.

CFO Simon Ho said the results reflect structural improvements rather than one-off gains. “Revenue growth significantly outpaced cost growth across both Fintech and On-demand Services, and our cost to serve is falling as our tech and AI strategy takes hold,” he said, adding that GoTo enters the remainder of the year with positive adjusted free cash flow of Rp1.3 trillion.

Full-year guidance held despite macro uncertainty

Despite the strong first-quarter performance, GoTo maintained its full-year adjusted EBITDA guidance of Rp3.2–3.4 trillion, citing global macroeconomic uncertainty as a reason for caution. The company also noted it is consolidating its artificial intelligence initiatives under a unified programme aimed at lowering the cost to serve and improving user engagement and conversion.