Talabat reported a net profit of $86.6 million for the first quarter ended 31 March 2026, a 16.1% decline compared to $103.3 million in the same period of 2025.
Total revenue grew 25.7% year-on-year to reach $1.05 billion, up from $833.6 million, reflecting continued scaling of its food and grocery delivery platform across MENA markets.
The compression in net profit was driven by a significant 35.7% increase in cost of sales to $783.6 million and a rise in general and administrative expenses to $58.2 million, which outpaced gross profit growth.
The Group strengthened its liquidity position with cash and cash equivalents rising to $860.1 million, despite the outflow of $14.8 million for the purchase of treasury shares during the quarter.
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