In today’s briefing:
- GoTo: Growth in Top Line Doesn’t Mean Improvement in Profitability
GoTo: Growth in Top Line Doesn’t Mean Improvement in Profitability
- GoTo (GOTO IJ) announced 1Q2022 and FY2021 results on 30th May. Gross income grew by 43.5% YoY in 2021 with a growth of 53.5% YoY in 1Q2022.
- However, gross margins show no improvement and operating losses have also worsened with the merger of Tokopedia in May 2021.
- GoTo plans to turnaround its profitability through synergies, improved monetisation and cost efficiencies. However, we don’t expect profits in the near future.
Before it’s here, it’s on Smartkarma
