Talabat said its first-quarter results exceeded guidance as higher order volumes supported growth across its markets, despite ongoing regional uncertainty.

The delivery platform generated gross merchandise value (GMV) of US$2.7 billion for the quarter, which ended March 31, up 19 per cent year-on-year, while revenue increased 23 per cent to $1 billion.

However, its Adjusted EBITDA (earnings before interest, tax, depreciation, and amortisation) dropped 9 per cent year on year to $130 million, while net income fell 18 per cent to $87 million.

Talabat said growth was driven by strong customer acquisition, improved Ramadan operations, and higher ‘eat-at-home’ demand as flexible work arrangements and distance learning continued across several markets.

CEO Toon Gyssels said the company’s multi-vertical strategy and operational execution helped support performance during a volatile operating environment.

“Or teams operated in an environment of heightened uncertainty, and remained focused on what matters most: Ensuring continuity of service while prioritising the safety of our people, riders and partners,” he said.

Talabat said it deployed close to $25 million during the quarter as part of its broader $120 million investment programme this year.

Its grocery vertical, Talabat Mart, remains a priority for the group, with investments focused on increasing store density, expanding product assortment, and improving affordability.

In addition, Talabat plans to expand benefits tied to its Talabat Pro membership programme, including discounts across food and grocery categories, priority customer support, and partner services for ride-hailing and content streaming.

Looking ahead, the company maintained its guidance for other key metrics for the full year while raising its net income outlook, citing confidence in its operating model and demand trends.