Crunching the numbers from Bukalapak's financials

Check out our top articles for the week. [Read from your browser]( Top Stories of the Week Welcome to Tech in Asia's free Sunday newsletter! Get full access to our subscribers-only premium content and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](. Hello {NAME} I always find it interesting to take a peek at financial statements, as it gives me a glimpse of a company's inner workings. For some companies, numbers usually follow upward or downward trends for an extended period, but Bukalapak’s trajectory is marked by frequent shifts. The Indonesian ecommerce major has seen its share of ups and downs over the past few years. For example, its net losses showed improvements in the second quarter of its 2022 financial year, but it took the company another year to finally swing into the positive. However, it posted losses again for Q3 and Q4 2023. The firm also mostly logged quarter-on-quarter growths in revenue, but the number plateaued during Q3 2023. However, Bukalapak’s filings also showed that it was spending less and less starting from Q4 2022. It'd be interesting to see where Bukalapak's numbers would go soon, as competition in Indonesia's ecommerce segment has been heating up with the blockbuster tie-up between Tokopedia and TikTok Shop. We'll be updating our charts every quarter, so check back in with us later this year to stay informed. -- [Miguel Cordon]( journalist at Tech in Asia  --------------------------------------------------------------- TOP STORIES THIS WEEK 1️. [Bukalapak’s financial health in 9 charts]( These charts offer a snapshot of how Bukalapak is performing. 2. [GoTo CEO delivers first quarterly profit, but will he stay on?]( Patrick Walujo’s strategic prowess sealed a game-changing deal with TikTok, yet questions linger about his dedication to GoTo’s future. 3. [Ecommerce roll-up firm Una Brands hits EBITDA profitability as industry struggles]( This comes after the company, which is backed by Lazada Group former CEO Maximilian Bittner, reported a significant uptick in net loss in 2022. 4. [Asia layoff tracker: Shopback slashes 195 jobs, ByteDance cuts 1,000 positions]( Tech firms are dismissing staff to stay afloat as headwinds hit Asia. This layoff tracker is keeping tabs on marching orders. 5. [Carro posts 67% revenue jump in FY 2023, generates positive adjusted EBITDA]( The used-car marketplace previously said it had hit US$11 million in EBITDA for the first quarter of FY 2024, its highest-ever quarterly profit. 6. [Why PayPal’s VC arm is betting on Qoala despite the insurtech firm not yet being profitable]( Despite generating US$280 million in gross written premiums since 2020, the Indonesia-based startup has yet to turn a profit. 7. [Southeast Asian startups that raised funds over 18 months ago]( The common wisdom suggests that having at least 18 months of runway provides a sense of security for startups to continue shipping at full speed. 8. [Southeast Asia’s ecommerce players go low to get ahead in price war]( Choice, Lazada’s latest budget-centric platform, steps into the arena to go head-to-head with Shopee, TikTok Shop, and Temu. 9. [ByteDance eyes Singapore for genAI push, posts several job openings]( The Chinese tech giant recently put up over 100 job openings for generative AI, largely in Singapore and the US. 10. [‘Buy now, pay later’ is not dead]( GoTo is preparing to launch a BNPL product with TikTok despite fluctuations in the segment. 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