GoTo Group Reports Net Loss for Q4 2024, Sees Improvement in Key Metrics
[SINGAPORE] GOTO Group, the Indonesian tech giant, reported a net loss of 926 billion rupiah (S$75 million) for the fourth quarter ended December 31, narrowing from 80.9 trillion rupiah in the year-ago period.
Revenue Declines Marginally
This comes as the company’s revenue dropped marginally to 4.2 trillion rupiah, from 4.3 trillion rupiah the year before.
Adjusted EBITDA Surges
For the last three months of the year, GoTo’s adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) surged to 399 billion rupiah from 77 billion rupiah in 2023.
Full-Year Results
For the full year, net revenue stood at 15.9 trillion rupiah, 8% higher than 14.8 trillion rupiah in 2023. The group reported a loss of 5.5 trillion rupiah, down from 90.5 trillion rupiah a year ago.
Recurring Cash Fixed Costs Decline
Recurring cash fixed costs declined by 3% year on year to 5.3 trillion rupiah.
CEO’s Comments
Patrick Walujo, the group’s chief executive officer, said: "We saw a significant increase in our user numbers throughout the year and expect this to continue into 2025 as our ecosystem strategy continues to prove effective. Looking ahead, we will further strengthen our business by innovating, both operationally and at the product level, to boost revenue, increase cost efficiency and deliver more targeted and personalized services that match customer needs."
Segment Performance
By operating segment, GoTo’s financial technology segment revenue grew 95% year on year to 3.7 trillion rupiah in 2024. Its adjusted loss before interest, tax, depreciation and amortisation narrowed to 467 billion rupiah.
Outlook for 2025
For 2025, the group expects its financial technology segment to expand further as the GoPay app user base continues to broaden. Its on-demand services segment gross revenue grew 17% to 14.2 trillion rupiah last year while it posted an adjusted EBITDA of 679 billion rupiah compared to a loss of 219 billion rupiah in 2023.
Conclusion
GoTo’s Q4 2024 results show improvement in key metrics, with a narrowing net loss and an increase in adjusted EBITDA. The company’s financial technology segment is expected to continue growing in 2025, driven by the expansion of the GoPay app user base.
FAQs
Q: What was GoTo’s net loss for Q4 2024?
A: 926 billion rupiah (S$75 million)
Q: What was GoTo’s revenue for Q4 2024?
A: 4.2 trillion rupiah, down from 4.3 trillion rupiah in the year-ago period
Q: What is GoTo’s outlook for 2025?
A: The company expects its financial technology segment to expand further and its on-demand services segment to continue growing
Q: What was the closing price of GoTo shares on the announcement day?
A: 83 rupiah, up 3.8% or three rupiah
