Grab Holdings Limited Class A Ordinary Shares Earnings Recaps
Q1 2026
May 7, 2026
Grab's shares were largely unchanged after the earnings release, reflecting a market assessment that the company delivered growth in key metrics but did not materially alter the outlook or surprise investors in either direction.
Key takeaways
- On-demand GMV grew 24% year-over-year in Q1, indicating continued activity expansion despite seasonal softness.
- Monthly transacting users (MTUs) reached 52 million, highlighting steady user engagement across Southeast Asia.
- Financial Services loan disbursals surged 67%, surpassing $1 billion in the quarter and on track for segment adjusted EBITDA breakeven in H2 2026.
- The company achieved its 17th consecutive quarter of adjusted EBITDA growth, with trailing 12-month adjusted free cash flow expanding to $489 million.
- Management reiterated full-year guidance for revenue between $4.04 billion and $4.10 billion, and adjusted EBITDA of $700 million to $720 million despite ongoing macro risks like fuel price volatility.
Q3 2025
Nov 4, 2025
Grab achieved a strong performance in Q3 2025, with a notable 51% year-on-year increase in adjusted EBITDA, driven by a significant rise in monthly transacting users and continued cost discipline.
Key takeaways
- Monthly transacting users increased by nearly 6 million year-over-year, reaching a total of 48 million.
- On-demand GMV grew by 24% year-on-year; 20% on a constant currency basis.
- Adjusted EBITDA rose to $136 million, marking the 15th consecutive quarter of profitability improvement.
- Adjusted free cash flow improved by $185 million year-on-year to $283 million on a trailing 12-month basis.
- Full-year EBITDA guidance has been increased to between $490 million and $500 million as the company anticipates sustained momentum across its business segments.