• Newsletter
  • Contact
  • Press Releases
Sunday, June 22, 2025
Stay Ahead with Heaptalk: Your Go-To Source for Business News
  • Login
  • Register
  • Whats on
  • News
  • Events
  • Technology
  • Industry
  • GovAct
  • Expert Talk
  • Insight
  • Sustainability
No Result
View All Result
Stay Ahead with Heaptalk: Your Go-To Source for Business News
  • Whats on
  • News
  • Events
  • Technology
  • Industry
  • GovAct
  • Expert Talk
  • Insight
  • Sustainability
No Result
View All Result
Stay Ahead with Heaptalk: Your Go-To Source for Business News
No Result
View All Result
Home News

Bukalapak operating income grows 391% in Q3 2022, influenced by Allo Bank investment

Syifa by Syifa
April 18, 2023
in News
0
Bukalapak

credit by Bukalapak

Share on FacebookShare on Twitter

Heaptalk, Jakarta — PT Bukalapak.com, Tbk, has recorded positive performance in September 2022. According to its report in 3Q22, the unicorn’s operating revenue has enhanced by 391% to USD226 million, from operations loss of USD77.9 million.

The increase is also influenced by a marked-to-market investment value of PT Allo Bank, Tbk. Concurrently, the startup with issuer-coded BUKA has recorded a net income of USD231 million in Q3, growing by 421% from a net loss of USD72.3 million. According to the company report, Bukalapak’s income has increased by 86% in Q3 2022 to USD57.5 million compared to the same period last year. During Q3, the company’s income has also escalated by 92% to USD165 million year on year.

Bukalapak’s partners income has surged by 131% to USD30.5 million. While the partners’ profits in this quarter have grown by191% compared to last period, attaining USD92.6 million. According to the report, the contribution of its partners to the startup’s revenue increased from 43% in 3Q21 to 53% in Q3 2022.

World Ai Jakarta 2025
World Ai Jakarta 2025

Meanwhile, Total Processing Value (TPV) in Q3 2022 demonstrated an enhancement of 32%, or equal to USD2.6 billion, compared to the earlier report in 2021. Around 74% of the Company’s TPV comes from outside regions of Tier 1 in Indonesia, supported by robust growth of all-commerce penetration and the trend of stalls digitalization and traditional retail stores.

The growth of Bukalapak’s partners have also performed an escalation, proven by the continuous rise of TPV partner by 23% in Q3 2022 to USD1.2 billion compared to the same period in 2021, driving 37% higher growth to USD3.5 billion in 9M22 compared to 9M21. The growth is supported by the product variation development and service that Bukalapak offers to the partners. As explained in the company report, the registered Bukalapak partners have attained 15.2 million per September 2022, rising from 11.8 million last December 2021.

After experiencing a Quarter on Quarter (QoQ) sustainably, the company intends to generate revenue with lower expenses to reach a positive contribution margin. As a result, the contribution margin of this Indonesia-based e-commerce app has escalated from -0.1% in 3Q21 to 0.1% towards TPV in 3Q22.

Bukalapak’s Marketplace contribution margin to TPV Marketplace increased from 0.2% in 3Q21 to 0.5% in 3Q22, while Partner’s contribution margin to Partner’s TPV improved from -0.4% in 3Q21 to -0.3% in 3Q22. This data has marked a positive contribution margin of Bukalapak for the first time in this quarter.

As conveyed in the company’s official press release, the Management of Bukalapak stated, “Bukalapak has denoted its ability to realize the objective, notably in contributing to the company to gain more profitability in the future and proved business does not only depend on the expenses, promotions, and subsidy to generate positive progress. Currently, with the intense business operations, Bukalapak would focus on revenue growth while putting hard effort to record margin contribution positively.”

During the Q3 period, the general and administrative expenses ratio, excluding share-based compensation to TPV, improved to 1.0% compared to 1.2% in the same period in 2021. For this reason, the e-commerce startup that performed IPO last august would focus on the company’s business strategy to accomplish robust growth and sustainability, along with righteous burden management.

As it is revealed in the report, Bukalapak has closed adjusted Earning Before Interest, Taxes, Depreciation, and Amortization (EBITDA) worth -USD20.9 million in the third quarter of 2022, whereby an adjusted EBITDA ratio to the TPV indicated an advancement from -1.1% to -0.8% in Q3 this year.

Despite recording its net revenue in Q3, the company will continue to emphasize the performance of its operations. For this reason, the Management team would utilize adjusted EBITDA as the company’s performance indicator.

Tags: Bukalapak

Related Posts

Paving the Way for Expatriate Homeownership: Savyavasa and Permata Bank Launch Exclusive Foreign Mortgage Program

Paving the Way for Expatriate Homeownership: Savyavasa and Permata Bank Launch Exclusive Foreign Mortgage Program

June 5, 2025
KL1 Phase 2 has been completed. Credit: Equinix

Equinix completes KL1 Phase 2 data center in Kuala Lumpur

June 2, 2025
Commemorating Professor Soemitro's 108th anniversary at Soemitro Center (05/29). Credit: Haris

Soemitro Center: A platform for Indonesia’s young economists

May 31, 2025
Lifree breathable adult diapers can help improve skin health. Credit: Haris

Unicharm research: Lifree improves quality of life for elderly

May 31, 2025
Xiaomi's premiumization strategy has yielded positive results in Q1 2025. Credit: Sinta

Applying premiumization strategy, Xiaomi gains 64.5% net profit jump in Q1 2025

May 31, 2025
Kaspersky appointed Defi Nofitra as first country manager for Indonesia. Credit: Kaspersky

Kaspersky appoints Defi Nofitra as first country manager for Indonesia

May 31, 2025
  • 32321

    New tech layoff chapter, Microsoft lays off thousands of its cloud unit ‘Azure’

    1 shares
    Share 0 Tweet 0
  • Nokia rolls out 6600 5G Ultra

    0 shares
    Share 0 Tweet 0
  • Performing a second layoff round, Morgan Stanley to reduce 3,000 workforces in Q2 2023

    1 shares
    Share 0 Tweet 0
  • TikTok Shop to reach a US$15 billion in its GMV transactions

    1 shares
    Share 0 Tweet 0
  • International Women’s Day – Opportunity for Businesses to Support Women in the Workplace

    0 shares
    Share 0 Tweet 0
World Ai Jakarta 2025the 10th world battery & energy industry expo 2025
Heaptalk business news logo

We Build an Ecosystem by Sharing Business News, Headlines and Expert Talks in Professional Perspective and Positive Point of View. Latest business news media headlines platform today.

Recent Posts

  • Paving the Way for Expatriate Homeownership: Savyavasa and Permata Bank Launch Exclusive Foreign Mortgage Program
  • Equinix completes KL1 Phase 2 data center in Kuala Lumpur
  • Soemitro Center: A platform for Indonesia’s young economists
  • Unicharm research: Lifree improves quality of life for elderly
  • Applying premiumization strategy, Xiaomi gains 64.5% net profit jump in Q1 2025

Follow Us

Facebook
Twitter
LinkedIn Youtube Instagram RSS

Newsletter

  • Editorial
  • Newsletter
  • Contact
  • Privacy Policy
  • Cyber Media Guidelines
  • Disclaimer
  • SOP Perlindungan Wartawan

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT
No Result
View All Result
  • Home
  • News
  • Technology
  • Industry
  • GovAct
  • Events
  • Whats on
  • Expert Talk
  • Insight
  • Sustainability
  • Newsletter
  • Press Releases
  • Login
  • Sign Up

© 2024 Heaptalk.com