Higher revenue, lower net income for Talabat in 2Q

Talabat’s investment push weighed on its 2Q earnings even as revenue kept growing — and the company raised its full-year guidance anyway. The delivery platform’s net income fell 18% to USD 100 mn in 2Q 2026, according to a financial release (pdf). The firm’s revenue increased 16% y-o-y to USD 1.1 bn during the quarter, while gross merchandise value (GMV) rose 11% y-o-y (12% on a constant currency basis) to USD 2.9 bn.

Talabat now expects full-year 2026 revenue growth of 16-18% (up from 14-17%) and GMV growth of 13-15% at constant currency (up from 11-14%), with net income guidance raised to USD 325-355 mn — above the prior range.

What moved the quarter: Revenue growth outpaced GMV on a higher contribution from Talabat Mart and expanding adtech margins, partly offset by lower commission rates and increased customer incentives. Profitability was pressured by spending to strengthen the food-delivery business and expand the company’s “everyday app” ecosystem, with close to USD 58 mn deployed across the investment program in 1H.

In half-year terms: Talabat’s net income fell 18% y-o-y to USD 186 mn in 1H, while revenue rose 19% to nearly USD 2.2 bn, and GMV increased 15% to USD 5.6 bn.