Talabat revenue rises 23%, supported by higher grocery sales

Talabat, the Dubai-listed online food ordering and delivery company, said revenue jumped in the first quarter of 2026, supported by higher grocery sales and increased incentives to retain medium- and high-value customers.

Revenue rose 23 percent year on year to $1 billion, driven by a higher share of talabat mart revenue, the company said in a statement to the Dubai Financial Market on Tuesday.

Gross merchandise value (GMV) – the total value paid by customers, including VAT, delivery fees, other fees and subsidies – rose 19 percent to $2.7 billion, supported by order volume growth.

GMV was also driven by improved Ramadan operations, favourable Eid seasonality and the Iran conflict, which increased “eat-at-home” consumption patterns amid flexible work-from-home arrangements and schools on distance learning.

GMV in the GCC region — the UAE, Kuwait, Qatar, Bahrain and Oman — jumped 12 percent to $2.1 billion, while non-GCC — Egypt, Jordan and Iraq — rose 52 percent to $563 million during the quarter.

Net profit fell 18 percent year on year to $87 million in the first quarter, due to the impact of the company’s 2026 strategy and investment plan.

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CEO Toon Gyssels said the company’s strategy remains clear and that it is fully committed to advancing the previously announced investment plan.

“We are confident in our ability to be the app that consumers rely on every day,” he said.

The company has earmarked $120 million for 2026 to support talabat mart, enhance a loyalty subscription programme (talabat pro) and pursue new ventures.

Talabat listed on the DFM in December 2024, raising $2 billion in an initial public offering.

The company’s shares slipped 2 percent to close at AED0.90 on Monday, down 31 percent so far this year.

Delivery Hero Mena Holding owns 80 percent of the company, according to DFM data.