Indonesian e-commerce company Bukalapak announced Wednesday that its revenue for the second quarter grew by 12 percent quarter-on-quarter to Rp 1.6 trillion ($97.6 million), driven primarily by strong performance in the gaming and investment segments.

The firm said in a statement that its adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) improved by 30 percent quarter on quarter to negative Rp 14 billion, compared to negative Rp 20 billion in the previous quarter.

When combined with net interest income, the firm’s adjusted EBITDA + net interest income remained positive at Rp 201 billion.

The company’s net profit increased significantly to Rp 355 billion in the second quarter, surging 218 percent from the prior quarter, supported by a reduction in general and administrative expenses and higher gains from investment revaluation.

“We are pleased to see the positive momentum from earlier this year continue into the second quarter of 2025,

“This reflects the progress we are making as a result of our transformation strategy, toward a leaner, more focused, and increasingly productive business structure,” said Victor Putra Lesmana, Director of PT BUKALAPAK.COM Tbk.

The firm’s gaming segment continued to deliver the highest growth, with revenue reaching Rp 1.36 billion in the second quarter, an increase of 24 percent from the previous quarter.

The investment segment also recorded solid results, with revenue of Rp 14 billion, growing 13 percent quarte on quarter and delivering a contribution margin of over 30 percent.

The retail and Mitra Bukalapak segments remained strategic segments within the company’s digital ecosystem.

Retail, in particular, maintained a strong contribution margin of 27.6 percent in the second quarter.

“Gaming has become a key growth driver in our ecosystem,

“Alongside Mitra Bukalapak, Retail, and Investment, each business segment plays a complementary and strategic role in delivering long-term value,” added Victor.

The company also closed the quarter with a strong balance sheet, with total cash, cash equivalents, and liquid investments of Rp 18.5 trillion as of June 30, 2025.

These funds are allocated to highly liquid instruments such as time deposits, government bonds and money market mutual funds, providing flexibility to support long-term growth initiatives.

With a streamlined operating model, strong financial position, and continued focus on core contributing verticals, the company said it remains well positioned to sustain its journey of improvement and growth trajectory in the second half of 2025.

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