GoTo Posts Fourth Consecutive Quarter of Adjusted Profit, Boosts Revenue Amid Cost Cuts

GoTo Group, an Indonesian ride-hailing and delivery company, reported a fourth consecutive quarter of adjusted profit, with earnings before interest, taxes, depreciation, and amortization (EBITDA) at 427 billion rupiah ($26 million). Net revenue increased 23% to 4.3 trillion rupiah, while the company reaffirmed its expectation to post adjusted EBITDA of up to 1.6 trillion rupiah for the full year. GoTo has been cutting costs and improving its financials amid stiff competition from Grab and other regional rivals.

Indonesia's GoTo Group has reported a fourth consecutive quarter of adjusted profit, marking significant progress in cost-cutting and revenue growth. The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) for the second quarter of 2025 stood at 427 billion rupiah ($26 million), according to a statement released on Wednesday [1].

This figure represents a substantial improvement from the pro-forma loss of 64 billion rupiah reported in the same period a year earlier. Net revenue, excluding incentives to driver and merchant partners and promotions to users, climbed 23% on a pro-forma basis to 4.3 trillion rupiah. GoTo's stock price, which has fallen approximately 80% since its public listing in Jakarta in 2022, has shown signs of recovery, with shares advancing more than 20% over the past 12 months [1].

GoTo has been implementing aggressive cost-cutting measures, including job cuts and business unit closures, to address the cooling user growth and intense competition from Singapore’s Grab Holdings Ltd. and other regional rivals. The company's efforts to streamline operations have been bolstered by the sale of its e-commerce unit Tokopedia to ByteDance Ltd.’s TikTok for $1.5 billion. Additionally, GoTo has exited the Vietnamese market to focus on achieving profitability in its core markets of Indonesia and Singapore [1].

In a notable development, Grab has been considering a takeover of GoTo at a valuation of over $7 billion, although Grab has since downplayed any potential deal, stating it is not in talks to buy GoTo at this time [1]. GoTo has also expressed optimism about its financial prospects for the full year, reaffirming expectations to post adjusted EBITDA of up to 1.6 trillion rupiah [1].

References:
[1] https://www.bloomberg.com/news/articles/2025-08-13/goto-posts-fourth-straight-adjusted-profit-helped-by-cost-cuts