XLSmart lifts 2026 capex to IDR 20 trillion: what it means for XLSmart stock

Published on 10/25/2026 at 01:12 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

XLSmart targets 101 5G cities with IDR 20 trillion capex. XLSmart stock saw Q2 2026 revenue reach IDR 12,173,264 million.

Network expansion and operating figures

XLSmart raised 2026 capital spending to IDR 20 trillion on October 15, 2026.
Average revenue per user increased 13 percent in the first half of 2026.
Second-quarter 2026 revenue reached IDR 12,173,264 million, while net loss narrowed to IDR 277,220 million.

XLSmart stock, telecommunications, 5G expansion, capital spending, IDX, Illustration mit AI erstellt.

XLSmart raised its 2026 capital expenditure plan to IDR 20 trillion and set a target of reaching 101 Indonesian cities with 5G coverage. The October 15, 2026 update also showed why operating performance matters: average revenue per user increased 13 percent in the first half of 2026, according to Investortrust.id.

What does the investment mean?

The higher spending is aimed at accelerating 5G expansion and strengthening network capacity. The same report said XLSmart had reached more than 70 cities, supported by about 15,000 5G base stations, with population coverage at 23 percent in the first half of 2026.

For XLSmart stock, the operating trade-off is clear. The company is increasing network investment while relying on higher data use per customer to support revenue growth. Investortrust.id reported that management had raised the 2026 capital expenditure plan from IDR 15 trillion to IDR 20 trillion.

Three dated operating steps

On October 8, 2026, XLSmart announced the IDR 20 trillion capital expenditure plan and a 101-city 5G target, as reported by Bisnis Market. On October 12, 2026, shareholders approved Thomas Hundt as commissioner after accepting Vivek Sood's resignation, according to CNBC Indonesia. On October 15, 2026, management reported the 13 percent first-half ARPU increase and the 101-city expansion target.

Revenue improved, profitability lagged

Simply Wall St reported that second-quarter 2026 revenue rose from IDR 10,493,717 million in the prior-year quarter to IDR 12,173,264 million, while net loss narrowed from IDR 1,608,086 million to IDR 277,220 million and net margin improved from minus 15.3 percent to minus 2.3 percent. The comparison points to operational progress, but the margin figure shows that the investment cycle still carries a profitability test.

Stock context and market value

XLSmart's shares last traded at IDR 1,840 on the IDX on October 23, 2026 at 4:14 p.m. WIB. The market capitalization was IDR 33.5 trillion, and the 52-week range was IDR 1,590.00 to IDR 4,550.00, based on the same market context. For investors, the central question is whether higher ARPU and broader 5G coverage can translate into sustained earnings improvement.