PT Bukalapak.com Tbk, the Indonesian e-commerce company, has maintained positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) amid increased revenue the first half.
The firm said in a statement on Tuesday that it recorded revenues of IDR 1.6 trillion ($88.64 million) in the second quarter of 2026.
Cumulatively, the company’s revenue in the first half reached IDR 4 trillion, representing a 29 percent increase compared to a year ago.
The company’s contribution margin was recorded at IDR 72 billion in the second quarter, and the contribution margin during the first half grew by 12 percent to IDR 171 billion.
Bukalapak also recorded an adjusted EBITDA of IDR 6 billion in the second quarter, continuing the positive adjusted EBITDA trend seen since the start of the year.
Throughout the first half, its adjusted EBITDA was recorded positive at IDR 10 billion, an improvement of approximately IDR 44 billion compared to negative IDR 34 billion in the same period last year.
“Maintaining a positive Adjusted EBITDA throughout the first semester of 2026 reflects the sustained progress of the transformation we are undertaking,
“Amid ongoing economic uncertainty, we remain focused on operational discipline, improving revenue quality, and developing sustainable business across all segments,” said Victor Putra Lesmana, Director of Bukalapak.
In the second quarter, the firm’s gaming segment recorded revenues of IDR 1.39 trillion.
Cumulatively, gaming revenue during the first half grew by 42 percent to IDR 3.5 trillion, supported by international business expansion.
This segment also consistently recorded a positive adjusted EBITDA of IDR 7 billion in the second quarter.
Mitra Bukalapak recorded revenues of IDR 152 billion in the second quarter, down from IDR 188 billion a year earlier.
The impact of focusing on more selective products also affected performance in the first half of the year, where revenue recorded a 27 percent year on year decline compared to a year ago as part of a consolidation towards healthier profitability, in line with the strategic focus to drive higher-
margin products.
This is evidenced by Mitra’s contribution margin, which grew 48 percent to IDR 29 billion in the second quarter.
Mitra’s adjusted EBITDA also turned positive to IDR 8 billion in the same
quarter, up from negative IDR 9 billion in the same period last year.
The Investment segment, through BMoney, continued its growth with first-half revenue growing 68 percent year-on-year, from IDR 26 billion to IDR 44 billion.
In the first half, the contribution margin also grew 62 percent to IDR 15 billion, supported by the growth of assets under management (AUM), which reached over IDR 6 trillion.
The retail segment recorded revenues of IDR 60 billion in 2Q26, amid the company’s focus on optimizing the product pipeline, managing inventory, and selectively expanding its outlet network.
The effect of this selective approach was reflected in first-half performance, where revenue stood at IDR 139 billion, a 14 percent decline from IDR 162 billion a year ago.
“The sustained positive developments in the Gaming segment, achieving positive Adjusted EBITDA in the Mitra segment, and growth in the Investment segment demonstrate progress from the strategy we are executing,
“Supported by a solid balance sheet, we will continue to maintain operational discipline and focus on sustainable growth across all segments,” Victor
concluded.
Bukalapak accelerates expansion across Mitra, retail, gaming, and investment segments