Indonesia’s GoTo Surges to First-Ever Quarterly Profit as Tech Giant Hits $10.7 Million Milestone

JAKARTA, Investortrust.id — PT GoTo Gojek Tokopedia Tbk (GOTO), Indonesia’s largest tech conglomerate, has finally silenced skeptics by delivering its first-ever quarterly net profit. The Jakarta-based giant booked Rp 171 billion ($10.7 million) in net income for the first quarter of 2026, a massive swing from the Rp 367 billion ($23 million) loss reported in the same period last year.

This milestone marks the end of the "growth-at-all-costs" era for Southeast Asia’s most watched tech firm. By proving it can generate bottom-line profit while maintaining a double-digit growth rate in users and transaction volume, GoTo has established a blueprint for tech profitability in emerging markets. This shift likely solidifies investor confidence in the Indonesian digital economy's resilience against global macroeconomic headwinds.

The Path to Profitability

The turnaround was driven by a powerful combination of aggressive revenue growth and strict cost discipline. Net revenue surged 26% to Rp 5.34 trillion ($335.8 million), while the company successfully kept expenses in check, with costs rising only 11% to Rp 4.92 trillion ($309.4 million).

"This achievement of net profit for the first time in GoTo's history is an important moment for us," CEO Hans Patuwo stated during a press briefing on Tuesday, April 28, 2026. He noted that the results reflect years of work in managing costs and creating real value for consumers and partners.

Fintech and AI: The Performance Drivers

GoTo’s financial technology arm, GoPay, and its "On-Demand" services (Gojek) proved to be the bedrock of this quarterly success. CFO Simon Ho highlighted that "operating leverage" is becoming structurally stronger as revenue growth significantly outpaces cost increases in these sectors.

Ho specifically credited the company's focus on Artificial Intelligence (AI) for reducing service costs and improving user conversion. "Our service costs decreased as our technology and AI strategies began to bear fruit," Ho explained on Tuesday, April 28, 2026, adding that the group enters the remainder of the year with positive adjusted free cash flow of Rp 1.3 trillion ($81.7 million).

Market Outlook and Trust

The company's operational footprint continues to expand, with its core Gross Transaction Value (GTV) growing 65% year-on-year to Rp 138 trillion ($8.6 billion). This growth is supported by a strengthening brand reputation; GoTo recently received the "Most Trusted Financial Brand 2026" award in the digital wallet category for GoPay from InvestorTrust and Infovesta, following a national survey of 19,000 respondents.

As GoTo moves forward, management is doubling down on its full-year Adjusted EBITDA guidance of $201 million to $213 million. Analysts from BRI Danareksa Sekuritas suggest that GoTo's affluent customer base provides a cushion against energy price volatility, keeping the firm on track for a profitable full year.