The Evaluation of PT GoTo’s Financial Performance Why Do Users Remain Loyal Despite the Company’s Losses

Abstract

Abstract: This study aims to analyze the financial performance of PT GoTo based on financial reports showing losses over the past few years. PT GoTo is one of Indonesia's leading technology and financial services companies and remains a top choice among e-wallet users in the Indonesian market despite experiencing financial losses. This research focuses on an in-depth evaluation of the company's financial statements, including profitability, liquidity, solvency, and operational efficiency analyses. Financial ratio analysis methods are used to identify loss trends at PT GoTo. Additionally, this study discusses the impact of managerial decisions and substantial investments in technology development and significant promotional activities on the company's financial condition. The results indicate that PT GoTo’s losses are due to high operational costs and ongoing investments aimed at expanding market share and enhancing service innovation. Although the company has not yet reached a financial breakeven point, PT GoTo's market appeal remains high due to non-financial factors such as aggressive marketing strategies and user loyalty. These findings are expected to provide insights for stakeholders regarding the risks and long-term potential of investments in the financial technology sector.

Keywords: PT GoTo, Financial Report, Financial Loss, Financial Performance, Ratio Analysis, FinTech.