JAKARTA – PT Bukalapak.com Tbk (BUKA) has a strong liquidity position, with cash and cash equivalents, as well as short-term investments, amounting to IDR 19 trillion by the end of last year.

Willix Halim, CEO of Bukalapak, said that the company has robust financial resilience to support its ability to execute its strategy towards future profitability. Bukalapak reported financial income of IDR 1.04 trillion, derived from interest on deposits, banks, and bonds, as a result of the company’s cash investments.

Bukalapak has placed term deposits of IDR 5 trillion with Bank BRI, and IDR 4.3 trillion with Standard Chartered Bank Singapore Ltd (in US dollars). In addition to deposits, Bukalapak has also made other investments, including IDR 1.9 trillion in listed shares on the Indonesia Stock Exchange (IDX), IDR 530 billion in mutual funds, and IDR 3.19 trillion in government bonds.

This financial income represents 24% of Bukalapak’s operational revenue, which reached a total of IDR 4.4 trillion in 2024. Operational revenue consists of IDR 2.1 trillion from the O2O segment and IDR 2.5 trillion from the marketplace segment.

However, passive income from these investments has not yet been able to offset the 18% year-on-year (yoy) increase in operational losses, which rose to IDR 2.5 trillion, leading to a 12.4% rise in net losses to IDR 1.5 trillion in 2024.

Despite this, BUKA’s adjusted EBITDA grew by 28% by the end of 2024. "From negative IDR 475 billion in FY 23 to negative IDR 340 billion in FY 24," stated Bukalapak’s management in their 2025 Public Exposé. (DH/ZH/VA)