Talabat Holding’s Q1 Revenue Reach $846 Million

Talabat Holding plc, the leading on-demand online ordering and delivery platform in the MENA region, on Monday said that the Gross Merchandise Value (GMV) grew 30% during Q1-2025 to reach $2.1 billion.

On a constant currency basis, GMV grew at a faster rate of 33% and the revenue grew 34% to reach $846 million for the same period and, at constant currency, grew 38%. Adjusted EBITDA grew 34% to $140 million, or 6.7% of GMV, and net income grew almost four-fold to $103 million or 4.9% of GMV.

On a normalised basis, adjusting for material non-recurring items to allow for a like-for-like comparison, net income grew 24% to $99 million or 4.8% of GMV.

This strong performance was driven by top line growth and margin expansion 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.

The strong results were supported by increased resilience to the impact of Ramadan, thanks in part to an expanding G&R vertical which benefits from consumer behaviour trends during this period. Furthermore, the results reflected prior-year impacts related to ongoing geopolitical developments in the region, which had continued to weigh on performance during the comparative period.

Strategy Pays Off

Talabat CEO Tomaso Rodriguez said that the company had a strong start to the year, delivering excellent financial results reflecting the effectiveness of their strategy and execution.

He said that Talabat’s continued focus on enhancing the consumer value proposition, expanding across multiple verticals and deepening customer loyalty is driving sustained growth. Notably, the Groceries and Retail (G&R) vertical contributed approximately one-third of GMV when including instashop for the full quarter, reinforcing the opportunity in scaling this vertical further.

Talabat also saw its most successful launch yet of ‘talabat pro,’ its premium subscription loyalty programme, in Egypt, marking an important milestone and strengthening our offering in one of our fastest-growing markets. 

“We were equally pleased to welcome the instashop team into our operations in the first quarter. As a leading grocery delivery e-marketplace in MENA, instashop is a strong strategic fit for talabat, and aligns closely with our ambition to expand and integrate our ecosystem. In a scale-driven business like ours, we expect to realise meaningful cost synergies as integration progresses over the next few quarters,”  Rodriguez added.