Talabat reported continued growth in the second quarter of 2026, with gross merchandise value (GMV) reaching USD 2.9 billion, up 11% year-on-year and 12% at constant currency. Adjusting for the timing shift of Eid al-Fitr, underlying GMV growth was approximately 15%. Revenue increased 16% year-on-year to USD 1.14 billion.
Adjusted EBITDA stood at USD 147 million during the quarter, representing a 5.0% margin on GMV, while net income reached USD 100 million with a 3.4% margin. Free cash flow was USD 162 million, with the company saying its margins remained in line with the planned investment phase for its everyday app strategy.
For the first half of 2026, GMV increased 15% year-on-year at constant currency to approximately USD 5.6 billion, while revenue rose 19% to USD 2.19 billion. Adjusted EBITDA reached USD 277 million, net income stood at USD 186 million and free cash flow reached USD 266 million.
Business activity also continued to expand. Active partners increased 14% year-on-year to approximately 97,000, while the active rider network grew 25% to around 189,000. More than one in four active customers are now subscribed to talabat pro, which accounted for 51% of GMV on the talabat platform.
Following the first-half performance, Talabat raised its full-year 2026 guidance across all key metrics. The company now expects GMV growth of 13–15% and revenue growth of 16–18%, while Adjusted EBITDA is expected to reach USD 535–565 million. Net income guidance was increased to USD 325–355 million and free cash flow guidance to USD 400–430 million. Its dividend policy remains unchanged at 90% of net income.
Talabat also continues to execute its share buyback programme, with 108.1 million shares repurchased as of 12 August 2026 for approximately USD 35 million, representing 0.46% of issued capital. The company expects to declare its interim dividend on H1 2026 earnings in September, with payment expected in October.
Source: Talabat
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