- Bukalapak achieved profitability, generating $922,500 in adjusted EBITDA.
- The company’s revenue jumped 16% to $72.9 million.
- Bukalapak’s online-to-offline unit contributed 55% of total revenues.
Profitability pursuit pays dividends
Bukalapak, the Indonesia-based ecommerce firm, achieved a remarkable milestone by generating US$922,500 in adjusted EBITDA during Q1 FY2024. Teddy Oetomo, the CSO, attributed this success to strong revenue growth, thriving take rates (especially in the online-to-offline segment), and excellent cost control.
Simultaneously, the company recorded a 16% revenue jump to US$72.9 million. This signifies a 142% year-on-year improvement from FY2023’s adjusted losses of US$14.2 million.
Core earnings climb, O2O shines
Bukalapak’s core earnings soared 60% quarter-over-quarter to US$11.4 million. President Teddy The O2O unit, MitraBukalapak, contributed 55% of total revenues, driven by improved service offerings.
Despite prioritizing profitability over outright growth, Bukalapak’s overall group expenses improved in Q1 FY2024, mainly due to decreased general and administrative expenses.
Oetomo expressed commitment to sustainable and profitable growth, capturing opportunities within their mitra, gaming, and eretailing businesses throughout 2025.
To read the original article: https://www.techinasia.com/bukalapak-hits-adjusted-ebitda-profitability-q1-revenue-jumps-16
