Jakarta, Indonesia, 11 March 2026 – PT GoTo Gojek Tokopedia Tbk (IDX: GOTO, “GoTo Group” or the “Company”), the largest digital ecosystem in Indonesia, today announced its fourth-quarter and full year 2025 financial results. The Company beat its 2025 adjusted EBITDA³ guidance of Rp1.8-1.9 trillion, and set ambitious guidance of Rp3.2-3.4 trillion for the full year 2026 - growth of 59-69%.

Hans Patuwo, GoTo Group CEO, said: “We delivered strong results in the fourth quarter and full year, as 2025 core GTV¹ increased 49% year-on-year and adjusted EBITDA³ reached Rp2 trillion, exceeding our guidance. As this momentum continues, we have set 2026 adjusted EBITDA³ guidance at Rp3.2-3.4 trillion.” 

“Continued earnings growth is expected across our Fintech and On-Demand Services businesses throughout 2026. Within On-Demand Services, we anticipate stronger topline growth in the second half of the year as we expand capabilities to better serve the mass market.”

“To deliver on this, we will remain focused on solving real-world problems for both affluent and mass-market consumers, while continuing to invest in the core capabilities that enable us to do so.”

Simon Ho, GoTo Group CFO, said: “Our results reflect continued success in top-line expansion and bottom line improvement. We achieved another record Group adjusted EBITDA³, underpinned by increased net revenue, cost discipline and positive operating leverage.” 

“We also recorded positive and improving adjusted free cash flow⁹, a clear indication of strengthening business fundamentals and effective capital allocation. Our full-year performance establishes a solid foundation for sustainable growth and profitability as we focus on our 2026 strategies.”

Group Highlights

Actual

Pro-Forma¹

Group core GTV^1,4 grew 57% YoY to Rp124 trillion in 4Q, increasing 49% YoY to Rp400 trillion for the full year, with total GTV^1,2 climbing to Rp212 trillion, up 47% YoY in 4Q, rising 32% to Rp686 trillion over the full year.

Net revenue¹ grew 19% YoY to Rp5 trillion in 4Q, and 24% YoY to Rp18.3 trillion for the full year as Group Annual Transacting Users (ATU)¹² rose 24% YoY to 66 million.

Group adjusted EBITDA^1,3 reached Rp672 billion in 4Q, an improvement of 106% YoY, and Rp2 trillion for the full year, representing 544% YoY growth, surpassing the Company’s guidance of Rp1.8-1.9 trillion.

The Company achieved positive adjusted free cash flow⁹ amounting to Rp748 billion in 4Q, or Rp966 billion for the full year, demonstrating improved business fundamentals and effective capital allocation.

GoTo’s e-commerce service fee from PT Tokopedia reached Rp193 billion in the fourth quarter, and Rp820 billion for the full year. 

Financial Technology

• Monthly transacting users (MTUs)¹¹ rose 30% YoY to 26.2 million in 4Q, reaching a record 27.3 million users in Dec 2025. Annual Transacting Users (ATU)¹² grew 36% to 57 million as the Company continues to increase engagement and monetization. 

• Fintech recorded more than 600 million monthly transactions in December 2025, an increase of 76% YoY, as the addition of new features drove higher engagement.

• Core GTV⁴ grew 62% YoY to Rp116.3 trillion in 4Q, and increased 54% YoY to Rp370 trillion for the full year, underpinned by continued strength in consumer payments and strong growth in users and transactions.

• Net revenue grew 45% YoY to Rp1.7 trillion in 4Q, and 62% YoY to Rp5.8 trillion for the full year, supported by expanding consumer loans outstanding and steady growth in payment transactions.

• Lending revenue⁷ grew 56% YoY to Rp1.1 trillion in 4Q and for the full year grew 95% YoY to Rp3.8 trillion, due to an increase in consumer loans outstanding principal⁶ to Rp8.8 trillion, up 68% YoY. 

• Adjusted EBITDA³ reached a record Rp226 billion in 4Q, bringing the full year to Rp497 billion, marking the fifth consecutive quarter of profitability, driven by improving performance across both payments and lending.

• Disciplined risk management maintained, as the lending business has scaled, supported by AI-driven underwriting and ecosystem data that enable robust credit assessment while preserving strong asset quality.

On-Demand Services

• On-Demand Services GTV^2,5 grew 4% YoY to Rp17.7 trillion in 4Q, and increased 8% YoY to Rp66.5 trillion for the full year.

• Net revenue⁵ increased 10% YoY in 4Q, reaching Rp3.4 trillion, and increased 16% YoY to Rp12.6 trillion for the full year, supported by optimization of our product mix, higher advertising revenues, and disciplined incentive spend.

• Adjusted EBITDA³ increased 55% YoY to a record Rp415 billion, the sixth consecutive quarter of positive adjusted EBITDA³ improvement. For the full year, adjusted EBITDA³ increased 105% YoY to Rp1.4 trillion. 

• The Company remains committed to accelerating growth through a product-led strategy focused on the needs of both affluent and mass market segments. 

• AI has played a key role in driving the business, for example the Company has advanced its Search and Recommendation capabilities, increasing discovery, conversion rates and basket size.

• Driver-partner wellbeing remains a core priority representing a disciplined investment into the health of GoTo’s ecosystem. It was therefore recently announced that 400,000 eligible driver-partners are receiving Bonus Hari Raya (BHR) allowances ahead of Lebaran 2026. 

• Mobility:

  • Mobility GTV^2,5,8 grew by 2% YoY to Rp6.5 trillion in 4Q and 7% YoY to Rp24.7 trillion for the full year.

  • Net revenue^5,8 increased by 15% YoY in 4Q, reaching Rp858 billion, and 15% YoY to Rp3.13 trillion for the full year.

  • Adjusted EBITDA^3,8 increased by 22% YoY to Rp275 billion in 4Q, and 18% YoY to Rp870 billion for the full year. 

• Delivery:

  • Delivery GTV^2,5,8 grew by 5% YoY to Rp11.2 trillion in 4Q and 8% YoY to Rp41.8 trillion for the full year.

  • Net revenue^5,8 increased by 8% YoY, reaching Rp2,54 trillion in 4Q, and 16% YoY, Rp9.46 trillion for the full year.

  • Adjusted EBITDA^3,8 improved by 123% YoY, reaching Rp183 billion in 4Q, and 383% YoY to Rp691 billion for the full year.

Environmental, Social and Governance (ESG)

GoTo continued to focus on sustainability, inclusion and community development. Highlights from 4Q25 include:

• Becoming the first Indonesian digital ecosystem to provide comprehensive social security (BPJS Ketenagakerjaan and BPJS Kesehatan) for top-performing driver-partners through GoTo’s Program Apresiasi Mitra.

• Increasing availability of scholarships for driver-partners and their families through the GoTo Merah Putih Foundation, and launching Bursa Kerja Mitra Driver Gojek, a job marketplace to support driver-partner professional development and future resilience.   

• Surpassing the Company's target of 10,000 Electric Vehicles (EVs) in its driver-partner fleet, advancing its long-term decarbonization goals.

• Expanding the Company’s office waste management program to all Jakarta offices, advancing its commitment to zero-waste-to-landfill in its corporate operations.

• Launching the first official Indonesian Sign Language (BISINDO) training workshop for GoTo employees, empowering employees to build a more inclusive and communicative environment.

2026 Company Outlook

GoTo expects accelerated growth and improved profitability throughout 2026 as it leverages its ecosystem to solve customer problems, while investing the capabilities required to support this. 

For full-year 2026, the Company currently expects:

• Group adjusted EBITDA³ of between Rp3.2 trillion and Rp3.4 trillion. 

• Fintech adjusted EBITDA³ of between Rp1.4 and Rp1.5 trillion.

• ODS adjusted EBITDA³ of between Rp1.7 and Rp1.8 trillion.

This outlook is based on current market conditions and reflects the Company's preliminary estimates, which are all subject to various uncertainties and risks including increasing market competition, cost inflation, macroeconomic conditions and other variables.

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About GoTo Group

GoTo is the largest digital ecosystem in Indonesia. GoTo's mission is to 'empower progress' by offering technology infrastructure and solutions that help everyone to access and thrive in the digital economy. The GoTo ecosystem provides a wide range of services, including mobility, delivery, payments, financial services, and technology solutions for merchants. The ecosystem also provides e-commerce services through Tokopedia and banking services through its partnership with Bank Jago.

Forward-Looking Statements 

This document may contain forward-looking information or forward-looking statements including, but not limited to discussions of strategy, future plans and indicative financial performance (collectively, “forward-looking information”). Forward-looking information is based on the management’s current expectations, estimates, projections, and assumptions. While considered reasonable, these are subject to significant risks and uncertainties, including business, economic, competitive and other factors. Forward-looking information is not a guarantee of future performance, and undue reliance should not be placed on them as a basis for making any investment decision as they involve known and unknown risks, uncertainties and other factors (including the risks and uncertainties in GoTo’s consolidated financial statements and Management’s Discussion and Analysis available on the GoTo website), that may cause the actual or future results to differ materially from those expressed or implied by such forward-looking information. Any estimates, investment strategies or views expressed in this document are based upon current market conditions, and/or data and information provided by unaffiliated third parties, and are subject to change without notice. GoTo Group has not independently verified any information obtained from third-party sources, which may impact the accuracy of the assumptions made and conclusions drawn. Except as required by law, GoTo Group disclaims any obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise. Readers are cautioned not to put undue reliance on this forward-looking information, which should not be viewed, in and of itself, as any basis for making any investment decision.

Non-IFAS Financial Measures

GoTo Group uses a number of non-Indonesian Financial Accounting Standards (IFAS) financial measures including adjusted EBITDA and adjusted free cash flow, to understand and evaluate GoTo Group’s core operating performance. However, the definitions of GoTo Group’s non-IFAS financial measures may be different from those used by other companies, and therefore, may not be comparable. Furthermore, these non-IFAS financial measures have certain limitations in that they do not include the impact of certain expenses that are reflected in GoTo Group’s consolidated financial statements that are necessary to run GoTo Group’s business. Thus, these non-IFAS financial measures should be considered in addition to, not as substitutes for, or in isolation from, measures prepared in accordance with IFAS. 

Non-IFAS measurements are not intended to replace the presentation of GoTo Group’s financial results in accordance with IFAS. Rather, GoTo Group believes that the presentation of adjusted EBITDA and adjusted free cash flow provide additional information to investors to facilitate the comparison of past and present results, excluding those items that GoTo Group does not believe are indicative of GoTo Group’s ongoing operations due to their size and/or nature. Adjusted EBITDA and adjusted free cash flow presented herein may not be comparable to similarly entitled measures presented by other companies, who may use and define this measure differently. Accordingly, these non-IFAS measures should not be compared to those presented by other companies.

Consolidated Financial Information

GoTo Group has furnished results for the year ended December 31, 2025 and 2024. The information for the year ended December 31, 2025 is extracted from the consolidated financial statements of GoTo as of and for the year ended December 31, 2025 (with consolidated financial information as of and for the year ended December 31, 2024 as comparative) that has been audited by an Independent Certified Public Accountant.

GoTo Group has furnished the results of the three months ended December 31, 2025, September 30, 2025, June 30, 2025, March 31, 2025 and December 31, 2024, which have been prepared by and are the responsibility of management. The consolidated financial information for the three months ended December 31, 2025, September 30, 2025, June 30, 2025, March 31, 2025 and December 31, 2024 have not been audited, reviewed, examined, or had any procedures applied. Accordingly, there are no opinions or any other form of assurance expressed with respect to any and all consolidated financial information for the three months ended December 31, 2025, September 30, 2025, June 30, 2025, March 31, 2025, December 31, 2024 presented in this document.

GoTo Group has also furnished certain pro forma consolidated financial information as if Tokopedia and its related delivery and fulfillment businesses under GoTo Logistics had been deconsolidated since January 1, 2024. The pro forma financial information has been prepared based on GoTo Group’s historical financial information. The pro forma financial information is (i) not intended to be a complete presentation of the GoTo Group’s financial performance or results of operations had the transactions been concluded as of and for the periods indicated; (ii) is presented based on currently available information and estimates and assumptions that the GoTo Group’s management believes are reasonable as of the issuance date of this document; (iii) is intended for informational purposes only; and (iv) does not reflect all decisions that are undertaken by the GoTo Group after the deconsolidation. In addition, the pro forma financial information is provided for illustrative and informational purposes only and is not necessarily indicative of the GoTo Group’s future results of operations or financial condition as an independent, publicly traded company. The pro forma financial information included in this document has been prepared by and is the responsibility of management. This pro forma financial information has not been audited, reviewed, examined, or had any procedures applied by any third-party consultant or independent certified public accountant. Accordingly, there are no opinions or any other form of assurance expressed with respect to any and all pro forma financial information presented in this document.

1. Pro forma numbers assume Tokopedia and its related delivery and fulfillment businesses under GoTo Logistics were deconsolidated as of January 1, 2024. Segment-specific figures are as reported, unless otherwise stated. 

2. GTV means gross transaction value, an operating measure representing:

   1. 1. the sum of the value of the transactions from On-Demand Services and any additional fees such as tolls and tips.

      2. the sum of the value of the product and services recorded on our remaining E-commerce platforms, excluding Tokopedia.

      3. the sum of the total payments volume, or TPV processed through GoTo’s Financial Technology platform.

      4. the exclusion of inter-Company transactions between entities within the Company that are eliminated upon consolidation.

3. GoTo Group calculates the adjusted EBITDA, a non-IFAS financial measure, beginning with loss before income tax and adjusting for (i) depreciation and amortization expenses; (ii) finance income; (iii) interest expenses; (iv) loss on impairment of assets of disposal group classified as held for sale; (v) loss on impairment of investment in associates and joint ventures; (vi) loss on goodwill; (vii) fair value adjustment of financial instruments; (viii) loss on impairment of intangible and fixed assets; (ix) share-based compensation costs; (x) foreign exchange (gain), net; (xi) share of net (gain)/losses in associates and joint ventures; (xii) (gain)/loss on divestment and dilution of investments, net (xiii) dividend income; and (xiv) non-recurring items.

4. Core GTV means GTV excluding merchant payment gateway GTV in Financial Technology and Vietnam GTV in On-Demand Services.

5. Excluding Vietnam.

6. Consumer loans outstanding principal includes both on and off balance sheet loans outstanding principal. Off-balance sheet loans represent loans originated by GoTo’s Financial Technology segment but funded through loan channelling arrangements with channelling partners.

7. Lending revenue corresponds with Lending Fee in Note 25 of GoTo’s Financial Statements.

8. Within On-Demand Services, Mobility includes the Company’s two-wheel and four-wheel online transportation businesses. Delivery includes online food delivery, on-demand logistics, and quick commerce businesses.

9. Adjusted free cash flow is calculated starting with net cash generated from operating cash flow after adjusting for cash flows related to capital expenditures, net financing and lending disbursed to users, and proceeds from users net-off with payments to merchants, service providers and lenders.

10. As of 1Q25, adjusted EBITDA was restated to exclude realized foreign exchange gains and losses to ensure it accurately reflects underlying operational performance.

11. Financial Technology MTUs means average Monthly Transacting Users who are using Financial Technology Services, on-platform or off-platform, over the stated period.

12. Annual Transacting Users (ATU) means the number of unique users who are using On-Demand Services products, or Financial Technology Services, on-platform or off-platform, over the past twelve months as of the end of stated period.

Contacts:

Media

GoTo Group: corporate.affairs@gotocompany.com

Investors/analysts

GoTo Group: ir@gotocompany.com