Talabat’s net income surges 33% YoY in Q2
Revenue grew 35% to $982m, or 36% at constant currency.
Talabat Holding’s net income grew 33% year on year (YoY) to $119m in the second quarter of 2025 (Q2 2025), equal to 4.9% of gross merchandise value (GMV).
Adjusted net income increased 25% YoY to $116m, or 4.8% of GMV.
GMV climbed 32% to $2.4b, and 33% when measured at constant exchange rates.
Revenue grew 35% to $982m, or 36% at constant currency. Adjusted EBITDA was up 31% to $166m, or 6.8% of GMV.
The company’s strong performance was driven by the growth across both GCC markets (UAE, Kuwait, Qatar, Bahrain and Oman) and non-GCC markets (Egypt, Jordan and Iraq) as well as across both the Food and Grocery & Retail (G&R) verticals.
“With this momentum, we are confident in our outlook and are pleased to raise our full-year guidance across all metrics,” said Tomaso Rodriguez, CEO of Talabat.
GMV growth is now expected to be in the 27% to 29% range on a constant currency basis (up from 17% to 18%), revenue growth of 29% to 32% on a constant currency basis (up from 18% to 20%), an adjusted EBITDA margin of 6.5% (previously 6.5% to 7%), a net income margin at 5% (previously 5% to 5.5%) and adjusted free cash flow at 6% (previously 6% to 6.5%).
