Talabat, the Dubai-listed online food delivery platform, reported a surge in revenue during the third quarter of 2025, supported by a growing customer base and a rise in average order frequency.
The company’s revenue increased by 31 percent to reach USD 1 billion, driven by robust performance across the UAE, Kuwait, Qatar, Bahrain, and Oman, alongside growth in Egypt, Jordan, and Iraq, according to a statement to the Dubai Financial Market (DFM) on Monday.
Listed on the DFM in December 2024, Talabat raised USD 2 billion through its initial public offering, which expanded from 15 to 20 percent amid strong investor interest. Despite the positive debut, its shares have declined by more than 43 percent since listing.
Current CEO Tomaso Rodriguez will step down on November 21, with Toon Gyssels set to assume the leadership role.
Encouragingly, the company posted solid growth in its latest quarterly performance. The food delivery segment grew by 20 percent year-on-year, while its grocery and retail businesses recorded a 40 percent jump.
Talabat’s gross merchandise value (GMV) – the total value of transactions including VAT, delivery charges, and other fees – climbed 26 percent to USD 2.4 billion, supported by higher order volumes across all operating markets.
Net profit for the July to September quarter rose 31 percent to USD 119 million, driven by increased net finance income and despite the higher corporate tax rate of 15 percent across GCC markets.
For the first six months of 2025, revenue grew 33 percent to USD 2.8 billion, while net income surged 64 percent to USD 341 million.
“More than a quarter of our monthly active users are Talabat Pro subscribers, contributing nearly half of our total gross merchandise value,” said Rodriguez, adding that the company’s most active customers – those placing over 30 orders a month – are showing sustained engagement.
Talabat, which partners with over 80,000 merchants and operates a fleet of 160,000 riders, is majority-owned by Delivery Hero MENA Holding, holding an 80 percent stake, according to DFM records.
As of November 7, Talabat’s shares closed 2.2 percent lower at AED 0.89, reflecting a 7 percent decline year-to-date.
