Bukalapak's contribution margin turns positive for the first time in Q3

Bukalapak's contribution margin turns positive for the first time in Q3

Mitra Bukalapak. Photo: Liputan6

Indonesia’s listed technology group Bukalapak on Monday reported a positive contribution margin — calculated as gross profit after sales and marketing costs — for the first time, and said it is looking to turn EBITDA positive by the fourth quarter of 2023.

“We are hopeful of seeing revenue growth that surpasses costs, making the contribution margin further positive and bringing our adjusted EBITDA in positive territory, hopefully, by the fourth quarter of 2023,” Teddy Oetomo, Bukalapak president, said at the company’s earnings call.

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