GOTO 4Q23 Results: ODS and FinTech could Return to Growth Mode in FY24
What’s New: GoTo guided adjusted EBITDA could reach breakeven in FY24 as profit contribution from on-demand services (ODS) and e-commerce related fees from TikTok could be offset by continued investments in FinTech. ODS and FinTech could return to growth mode in FY24 as GoTo plans to double down on its successful strategies. We up our PT from IDR60 to IDR65 on improving profitability and a better outlook on ODS and FinTech. Our revised PT of IDR65 implies a 5.1x FY24E EV/Revs (net). We maintain our NEUTRAL rating.Analysts:
Jin Yoon
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