Indonesia’s GoTo Reports First Profit in 3Q 2025
GoTo Group, Indonesia’s largest digital ecosystem company, achieved a significant financial milestone by reporting its first-ever adjusted pre-tax profit in the third quarter of 2025. The company generated 62 billion rupiah in adjusted pre-tax profit during this period, demonstrating a fundamental shift toward sustainable profitability. This achievement prompted management to increase its full-year 2025 adjusted EBITDA guidance to between 1.8 trillion and 1.9 trillion rupiah, representing a considerable upward revision from the previous guidance range of 1.4 trillion to 1.6 trillion rupiah.
The third quarter results reflected consistent progress in revenue growth and operational efficiency improvements. Group net revenue increased by 21% year-on-year, reaching 4.7 trillion rupiah. More impressively, the company’s group adjusted EBITDA expanded dramatically by 239% year-on-year to hit a record high of 516 billion rupiah. This was the fourth consecutive quarter in which GoTo maintained positive group EBITDA, which totaled 369 billion rupiah during the quarter. The company also generated positive adjusted free cash flow of 247 billion rupiah, reflecting improved financial discipline and operational performance.
GoTo’s operational scale continued to expand meaningfully across its ecosystem. The company’s group core gross transaction value, which measures the total value of transactions processed across its platform, grew 43% year-on-year to reach 102.8 trillion rupiah. This expansion was supported by rising user engagement in Indonesia, where annual transacting users increased by 33% to reach 61.1 million. This user base now represents approximately 30% of Indonesia’s adult population, highlighting the company’s penetration in the domestic market.
The Financial Technology segment emerged as a profitability engine for the company. This division achieved a record adjusted EBITDA of 136 billion rupiah in the third quarter, representing a significant year-on-year improvement of 201 billion rupiah. This marked the fourth consecutive quarter of profitability for the Financial Technology business, demonstrating sustainable progress in the segment. Financial Technology net revenue surged by 55% year-on-year to 1.5 trillion rupiah, driven by multiple growth drivers within the division. The segment’s core gross transaction value expanded by 48% year-on-year to 95.3 trillion rupiah, showing substantial momentum across payment and lending services.
Within Financial Technology, the GoPay wallet application has become a significant growth driver for the company. Monthly transacting users of the Financial Technology segment grew by 29% year-on-year to 24.2 million. The segment achieved a milestone by processing over 500 million transactions in a single month for the first time in September 2025. Consumer loan principal outstanding expanded by 76% year-on-year to 7.6 trillion rupiah, reflecting strong demand for credit products offered through GoTo’s financial platform.
The On-Demand Services division, which includes both mobility and delivery operations, also demonstrated substantial progress toward profitability. The segment delivered an adjusted EBITDA of 336 billion rupiah in the third quarter, up 115% year-on-year. This represents the fifth consecutive quarter of adjusted EBITDA improvement for the On-Demand Services division. Net revenue for the segment increased by 10% year-on-year to 3.2 trillion rupiah. Within this segment, the delivery business showed exceptional improvement with an adjusted EBITDA of 189 billion rupiah, a remarkable 1,354% year-on-year increase. The mobility business contributed an adjusted EBITDA of 190 billion rupiah.
GoTo’s e-commerce business also contributed meaningfully to overall results. Service fee revenue from Tokopedia, the company’s e-commerce marketplace platform, reached 211 billion rupiah in the third quarter. The company continued to strengthen its financial position, ending September 2025 with 18 trillion rupiah in cash, cash equivalents, and short-term deposits. This solid cash position provides GoTo with flexibility to invest in growth initiatives and technology infrastructure.
Beyond financial metrics, GoTo is investing in artificial intelligence and automation technologies to enhance operational efficiency and user experience. The company’s next generation Large Language Model entered training during the quarter, delivering increased efficiency while requiring fewer processing units compared to its previous 70-billion parameter model. GoTo launched an internal AI platform that provides standardized access to computing resources, machine learning models, and reusable technology components. This platform aims to accelerate development velocity and reduce technology costs across the entire ecosystem over time. Initial pilots of AI and automation in the company’s customer service operations improved satisfaction scores by 6 percentage points by reducing initial response times and accelerating issue resolution.
