GoTo Gojek Tokopedia PT (GGTKY) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

GoTo concluded the second quarter of 2026 delivering a net income of 252 billion rupiah, the second consecutive quarter of net profit, an increase of 47% compared to the first quarter. For our investors and partners, this is a reflection of our strong business fundamentals and strict financial discipline of our ecosystem. Following government directives, we have adjusted the commission rate for GoRide, our two-wheel transport service, to 8%. This will impact the future profitability of on-demand services. We will maintain our group adjusted EBITDA guidance at 3.2 to 3.4 trillion rupiah by adjusting our fintech guidance to 1.7 to 1.8 trillion rupiah and on-demand services guidance to 1.4 to 1.5 trillion rupiah. The second quarter, our group-adjusted EBITDA grew 137% year-on-year, reaching over ₱1 trillion. Net revenue increased by 31% to ₱5.7 trillion and core GTP rose by 83% to ₱164 trillion. We are seeing strong user growth across our ecosystem, with annual transacting users rising 19% year-on-year, hitting 71 million. Financial discipline is at the heart of our performance, ensuring every part of the GoTo ecosystem contributes sustainably to our bottom line. In on-demand services, adjusted EBITDA reached ₱464 billion, a 41% increase year-on-year driven by net revenue growing 20% year-on-year to ₱3.6 trillion. CoreGTV grew by 2% to 16.7 trillion rupiah, supported by our very high spending user cohort, which expanded 21% year on year. Adjusting to the 8% commission rate is quite a challenge, but after one month of implementation, we have been able to keep business conditions stable, and we continue our focus on bringing value to all of our customers, consumers, driver partners, and merchants. This is where our diverse ecosystem shines. In fintech, adjusted EBITDA sur...