Is Blibli's cash runway a cause for concern?

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} Sometimes, data points make you do a double - or triple - take. Three listed Indonesian tech giants reported their Q1 2023 results over two days at the end of last month, and one topic investors - and readers - want to know more about is how much cash the companies have, and how they’re spending it. I had a rough sense of the numbers for GoTo and Bukalapak - around US$1.8 billion and US$1.4 billion respectively - from previous articles I had written on them. However, Blibli’s cash on hand surprised me - US$133 million. I checked this multiple times and thought that I may have made a mistake with the conversion from billions of Indonesian rupiah to US dollars - dealing with such large numbers is always tricky! Given that Blibli’s most recent quarter saw a negative [EBITDA]( of US$56 million, there seems to be little room for error. That said, EBITDA isn’t a precise proxy for cash flow, and the company’s CFO asserted that the firm’s cash, along with available credit facilities, “should be sufficient” for Blibli to carry out its business strategies. Read about this - and more - in my article covering the Indonesian tech companies’ most recent quarterly results! -- [Simon Huang]( journalist at Tech in Asia  --------------------------------------------------------------- TOP STORIES THIS WEEK 1️. [Why GoTo’s shares jumped following Q1 results, while Bukalapak and Blibli are flat]( Indonesia’s tech companies are inching closer to profitability, although investors still have them on a tight leash. 2. [Global investment downturn? Not so much in Southeast Asia]( Despite seeing less investment than the year prior, 2022 was still one of the region’s strongest years on record. 3. [SEA tech ecosystem report]( All you need to know about Southeast Asia's startup scene in five minutes. 4. [Mapping SEA’s food tech players: startups seize opportunities beyond food delivery]( The last three years have been important for the foodtech scene. 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