Talabat Q3 Revenue Hits $1B, Food & Grocery Surge

Talabat has reported another quarter of solid expansion, driven by robust order volumes across its food delivery and grocery-retail segments. The company’s third-quarter results show a sharp rise in revenue, margins, and net income, signaling strong consumer demand across its markets.

Group gross merchandise value (GMV) reached $2.4 billion in Q3, up 26% from last year, with constant-currency growth at 27%. Revenue climbed 31% to $1 billion, while Adjusted EBITDA increased by 21% to $154 million. Net income rose 31% to $119 million, reflecting steady gains across the business.

A surge in customer activity and higher order frequency contributed to the growth. Talabat’s subscription product, Talabat Pro, continues to gain popularity, driving higher engagement levels. The GCC markets remain the core contributor, accounting for 81% of total GMV.

The company’s grocery and retail segment, still smaller in scale, outpaced food delivery with growth exceeding 40%, compared with nearly 20% for the food vertical. Despite the higher expansion in grocery and retail, adjusted EBITDA margins stood at 6.4% of GMV, and net income margins at 4.9%, reflecting the lower gross margins typical of the segment, softened by operational efficiencies.

Adjusted net income reached $112 million, up 15% year-on-year. Adjusted free cash flow came in at $99 million, slightly lower than last year due to tax payments and the reversal of prior quarter working-capital inflows.

Talabat highlighted strong engagement levels, with over one in three customers using multiple verticals, including food and groceries, and more than a quarter of monthly active users subscribing to Talabat Pro, contributing nearly half of total GMV. Top-tier users continue to increase frequency, now ordering more than 30 times per month on average.

Looking ahead, Talabat reaffirmed its full-year outlook, expecting constant-currency GMV growth of 27–29% and revenue growth between 29–32%. Adjusted EBITDA and net income margins are projected at 6.5% and 5% respectively, with a minimum dividend payout of $400 million maintained.