BUKA Maintains Positive Adjusted EBITDA Trend Since Start of Year

PT BUKALAPAK.COM Tbk (BUKA) recorded revenue of Rp 1.6 trillion in the second quarter of 2026 (2Q26). Cumulatively, the company’s revenue for the first half of 2026 (1H26) reached Rp 4.0 trillion, a 29% increase compared to 1H25. The company’s contribution margin was recorded at Rp 72 billion in 2Q26, with the 1H26 contribution margin growing 11% to Rp 171 billion. BUKA also recorded an adjusted EBITDA of Rp 6 billion in 2Q26, continuing the positive adjusted EBITDA trend since the beginning of the year. Throughout 1H26, adjusted EBITDA was positive at Rp 10 billion, an improvement of approximately Rp 44 billion compared to a negative Rp 34 billion in the same period the previous year. Victor Putra Lesmana, Director of PT BUKALAPAK.COM Tbk, stated that the consistently positive adjusted EBITDA in the first half of 2026 reflects the sustainable progress of the transformation being undertaken. “Amidst economic conditions that remain uncertain, we continue to focus on operational discipline, improving revenue quality, and developing sustainable businesses across all segments,” he said in a statement on Wednesday (29/7/2026). In 2Q26, the Gaming segment recorded revenue of Rp 1.39 trillion. Cumulatively, Gaming revenue during 1H26 grew 42% to Rp 3.5 trillion, supported by international business development. This segment also consistently recorded positive adjusted EBITDA, amounting to Rp 7 billion in 2Q26. Mitra Bukalapak recorded revenue of Rp 152 billion in 2Q26, down from Rp 188 billion in 2Q25. The impact of the move to focus on more selective products also affected first-half performance. 1H26 revenue recorded a 27% year-on-year decline compared to 1H25 as part of a consolidation towards healthier profitability, in line with the strategic focus on driving higher-margin products. This was evidenced by Mitra’s contribution margin, which grew 48% to Rp 29 billion in 2Q26. Mitra’s adjusted EBITDA also turned positive to Rp 8 billion in the same quarter, from a negative Rp 9 billion in the same period the previous year. The Investment segment through BMoney continued its growth, with first-half 2026 (1H26) revenue growing 68% year-on-year (YoY) from Rp 26 billion to Rp 44 billion. In 1H26, the contribution margin also grew 62% to Rp 15 billion, supported by growth in assets under management (AUM) which reached more than Rp 6 trillion. The Retail segment recorded revenue of Rp 60 billion in 2Q26, amidst the company’s focus on optimising its product pipeline, managing inventory, and developing its store network selectively. The effect of this selective approach was reflected in the first-half performance, where 1H26 revenue stood at Rp 139 billion, a 14% decline from Rp 162 billion in 1H25. The sustained positive development in the Gaming segment, the achievement of positive adjusted EBITDA for the Mitra segment, and the growth of the Investment segment demonstrate the progress of BUKA’s strategy. “With the support of a solid balance sheet, we will continue to maintain operational discipline and focus on sustainable growth across all segments,” Victor concluded.