Talabat has raised its full-year 2026 guidance across all key financial metrics after posting a strong second quarter. The Dubai-based food delivery and quick commerce firm reported revenue of $1.14 billion for the quarter, up 16 per cent from the same period last year.
The growth came on the back of a wider customer base, along with stronger activity in grocery and retail. The company reported its results on Wednesday, and the update covers performance across its markets in the Gulf and beyond.
Talabat said its performance in the first half came in ahead of what it had earlier projected for the full year, which pushed the company to raise its outlook. Gross merchandise value, or GMV, touched $2.92 billion during the quarter, up 11 per cent on a reported basis and 12 per cent at constant currency.
Once the earlier timing of Eid Al Fitr is factored in, underlying GMV growth works out to around 15 per cent. Talabat now expects full-year GMV growth of 13 to 15 per cent, revenue growth of 16 to 18 per cent, and adjusted EBITDA between $535 million and $565 million. Net income guidance moved up to a range of $325 million to $355 million.
Quarterly adjusted EBITDA still fell 13 per cent to $147 million, and net income dropped 18 per cent to $100 million, a dip the company linked to its ongoing investment push. Talabat has set aside $120 million this year to grow Talabat Mart, build out its Pro subscription programme, and add new retail services.
Markets outside the GCC, including Egypt, Jordan and Iraq, posted GMV growth of 41 per cent, taking their share of total GMV to 22 per cent from 17 per cent a year ago. The number of active partners on the platform rose 14 per cent to about 97,000, and the rider network expanded 25 per cent to nearly 189,000.
Talabat Pro now accounts for 51 per cent of platform GMV, with more than one in four active customers subscribed. The company generated $162 million in free cash flow during the quarter and continued its share buyback, repurchasing 108.1 million shares worth close to $35 million so far. Talabat plans to declare its interim dividend in September, with payment expected in October.