GoTo’s Gojek unit will report 2026 adjusted EBITDA below its Rp1.4 trillion guidance floor.

Presidential Regulation 27/2026 imposed an 8% cap on driver commissions, with further rules for food and parcel delivery due by 31 December. So far, the cap applies only to motorbike rides, which account for just 7% of GoTo’s revenue. Yet this alone prompted GoTo to cut Gojek’s profit guidance by Rp300 billion. Ride-hailing and delivery together account for roughly 63% of GoTo’s revenue, so extending the cap to delivery would put further pressure towards GoTo’s main earnings pot. GoTo is particularly vulnerable because it relies heavily on Indonesia, while rival Grab operates across several countries and recently posted a US$235 million quarterly profit. Grab can therefore keep funding discounts as Gojek loses margins to drivers and market share to competitors. Mounting pressure on Gojek’s profitability could revive merger talks with Grab in 2027 – this time with GoTo negotiating from a weaker position.