Financial Feasibility Disruption of GoTo Super App Platform Post-Regulatory Intervention of Presidential Regulation (Perpres) Number 27 of 2026: The Cushioning Effect of Logistics Segment
DOI:
https://doi.org/10.46369/logistik.v1i16.5033Keywords:
Financial Feasibility, Disruption, Ride HailingAbstract
The research aim to analyze the regulatory disruption impact of Presidential Regulation (Perpres) Number 27 of 2026 toward the financial feasibility of PT GoTo Gojek Tokopedia Tbk (GoTo). This regulation intervenes in the gig economy sector working relations by limiting the maximum platform commission deduction (take rate) to 8% and obligating the provision of social security for driver partners (Republik Indonesia, 2026). Through a quantitative approach in the form of sensitivity analysis and financial simulation based on Q1 2026 consolidated financial statements, this research found that the regulation exposes 63.10% of GoTo's total net revenue to direct margin erosion risk. Without mitigation steps, the potential revenue decrease is estimated to reach IDR 616.44 billion per quarter, which is projected to drag the company back into a net deficit of IDR 445.70 billion in the next quarter. However, the ecosystem functional analysis shows a significant "cushioning effect" from the logistics segment (GoSend API) and financial services integration (GoPay) which are isolated from the regulation. The super app horizontal diversification model is proven to be an effective portfolio hedging instrument in mitigating sectoral regulatory risks.
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