In today’s briefing:
- GoTo Gojek Tokopedia (GOTO IJ) – Product-Led Initiatives Driving Growth and Profitability
- Criterium Energy Ltd (TSX-V: CEQ): New drilling expected to start in September
GoTo Gojek Tokopedia (GOTO IJ) – Product-Led Initiatives Driving Growth and Profitability
- GoTo (GOTO IJ)“‘s 2Q2024 reflected an ongoing focus on growth as the company invested in both its On Demand Services and its Fintech segments driven by its product-led initiatives.
- The company’s growth was driven by the mass market, subscription products, and premium offerings such as express deliveries, which helped to boost both frequency and retention on the platform.
- GoTo will continue to benefit from the service fee from Tokopedia, which can be used to drive its core ODS and Fintech businesses. The stock overhang is a temporary drag.
Criterium Energy Ltd (TSX-V: CEQ): New drilling expected to start in September
- • A drilling rig is scheduled to be mobilize on site in August.
- The two-well infill program, targeting a previously undrilled section of the MGH Field, is anticipated to commence in early September with the wells expected to come on production in early November at a forecasted combined rate of 300 bbl/d.
- • While this is a bit later than we anticipated, we continue to forecast that Criterium will exit 2024 with ~1,250 boe/d production.
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