Indonesian tech giant GoTo Group has booked a quarterly profit for the first time since its inception in 2010, recording a net profit of 171 billion rupiah ($9.9 million) in Q1 2026. This was a sharp turnaround from a net loss of 367 billion rupiah ($21.2 million) in the same period last year.
“Achieving net profit for the first time in our history is a big moment for GoTo,” CEO Hans Patuwo said in a statement. “It reflects years of work… to drive topline growth and cost discipline while creating real value for our customers.”
The performance was supported by continued topline growth, with net revenue rising 26% year-on-year to 5.3 trillion rupiah ($307.3 million), while core gross transaction value (GTV) jumped 65% to 138 trillion rupiah ($8 billion). Total GTV jumped 63% YoY to 236 trillion rupiah ($13.7 billion).
User growth remained solid, with annual transacting users increasing 22% to 69 million, amounting to around one-third of Indonesia’s adult population.
Adjusted EBITDA climbed 131% year-on-year to 907 billion rupiah ($52.5 million), putting the company on track to meet its full-year guidance of 3.2-3.4 trillion rupiah ($185.6-197.2 million).
GoTo also generated 1.3 trillion rupiah ($75.4 million) in adjusted free cash flow during the quarter, reflecting stronger underlying cash generation after accounting for capital expenditure and adjustments related to its lending business. Operating cash flow stood at 1.1 trillion rupiah, while cash reserves remained solid at 23 trillion rupiah.
Total expenses were up 11% to 4.9 trillion rupiah, though at a slower pace than revenue growth. As a result, GoTo posted an operating profit of 418 billion rupiah, reversing a loss of 193 billion rupiah a year earlier.
“These results reflect operating leverage that is now structurally embedded in our business,” CFO Simon Ho said, adding that revenue growth continued to outpace costs across both fintech and on-demand services.
The fintech segment continued to be a major growth driver. Adjusted EBITDA surged 674% year-on-year to 364 billion rupiah, supported by a 72% increase in core GTV to 131 trillion rupiah and a 58% rise in revenue to 1.9 trillion rupiah.
Monthly transacting users grew 33% to 27.5 million, with over 2 billion transactions, or an increase of 84%. Its lending book also expanded 59% to 9.9 trillion rupiah, with asset quality remaining relatively stable.
Meanwhile, the on-demand services segment recorded an adjusted EBITDA of 439 billion rupiah, up 40% year-on-year. GTV grew 4% to 16.3 trillion rupiah, while revenue rose 12% to 3.4 trillion rupiah, driven by stronger demand from higher-spending users, particularly in premium offerings such as GoFood Express, which grew 84%.
GoTo also benefitted from efficiency gains, including a 60% reduction in cloud costs following infrastructure optimisation efforts completed in the first half of 2025. The company also recorded an e-commerce service fee from Tokopedia of 288 billion rupiah, a 33% increase.
