GoTo reports first quarterly profit since Gojek‑Tokopedia merger

An employee packs goods at Goto's e-commerce unit Tokopedia's warehouse in Jakarta, Indonesia — The company swung to a net profit of 171 billion rupiah (US$9.94 million). (Source: Reuters/Ajeng Dinar Ulfiana)

By Sameer Manekar and Sherin Sunny April 29, 2026

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Indonesia’s GoTo reported its first-ever quarterly net profit on Tuesday, a major turning point for the ride-hailing group, as strong revenue growth and tighter cost controls began to pay off.

Created from the 2021 merger of Gojek and Tokopedia, GoTo has since struggled to turn a profit amid fierce competition and high spending.

The company swung to a net profit of 171 billion rupiah (US$9.94 million) for the three months ended March 31, from a loss of 367 billion rupiah during the same period last year.

GoTo, which offers ride hailing, food deliveries, logistics and financial services, said its first-quarter net revenue rose 26 per cent year-on-year to 5.3 trillion rupiah.

Revenue growth significantly outpaced a rise in costs across both fintech and on-demand services, with costs to serve also falling as tech and AI strategy takes hold, said GoTo Group CFO Simon Ho.

The company posted attributable profit of 257.94 billion rupiah for the quarter, compared with a loss of 283.33 billion rupiah last year.

GoTo also reiterated its full-year adjusted EBITDA forecast of 3.2 trillion rupiah to 3.4 trillion rupiah, citing recent global macroeconomic uncertainty.

The Indonesian company, backed by Japan’s SoftBank Group and Singapore’s sovereign wealth fund GIC, has previously been linked to merger speculation with Singapore-based rival Grab, though no deal has been announced.