Grab Holdings Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw 24% GMV growth and strong AI-driven gains, with financial services loan disbursements up 67% year-on-year. Full-year revenue and EBITDA guidance are reaffirmed despite fuel price volatility and regulatory changes in Indonesia.
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GrabX 2026 unveiled a suite of AI-powered features, including new assistants for drivers and merchants, smarter ride and food ordering, and enhanced travel and payment solutions. The event emphasized inclusivity, regional empowerment, and the integration of AI into both digital and physical experiences.
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The $600 million acquisition of foodpanda Taiwan expands the addressable market by $40 billion, leveraging operational synergies, tech innovation, and a strong user base. Integration is targeted for early 2027, with profitability expected by end of 2027 and significant EBITDA contribution by 2028.
Fiscal Year 2025
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Achieved first full year of net profit in 2025, with strong GMV and user growth, and robust expansion in financial services. Guidance calls for 20% revenue CAGR through 2028, tripling Adjusted EBITDA, and significant free cash flow gains, supported by disciplined capital allocation and tech investments.
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Record user and GMV growth drove a 51% year-on-year rise in adjusted EBITDA and improved free cash flow. Raised 2025 EBITDA guidance, with strong momentum in deliveries, mobility, and financial services, and continued margin expansion expected into 2026.
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Record GMV and MTUs drove strong EBITDA and free cash flow growth, with mobility and deliveries segments both accelerating year-over-year. Financial services and advertising showed robust expansion, while disciplined cost management and product innovation underpin a positive outlook for 2025.
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Q1 saw record revenues, 17% GMV growth, and 13th straight quarter of EBITDA improvement. Upgraded 2025 EBITDA guidance to $460–$480M, driven by strong user growth, cost discipline, and new AI-powered products. Delivery and fintech segments outperformed, with stable credit quality.
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Major AI-powered features were unveiled, including AI assistants for merchants and drivers, enhanced safety and logistics, and new user experiences like GrabFood for One, Shared Saver, and Dine Out Discovery. Strategic AI partnerships and a user feedback program were also announced.
Fiscal Year 2024
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Q4 2024 marked record performance with 20% on-demand GMV growth and first full year of positive adjusted EBITDA and free cash flow. 2025 guidance targets 19–22% revenue growth and 40–50% EBITDA growth, with continued investment in tech, AI, and regional expansion.
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Record group-adjusted EBITDA and strong GMV growth in deliveries and mobility highlight robust Q3 performance. MTUs rose 16% year-over-year, and financial services lending accelerated. Updated full-year EBITDA guidance signals continued momentum into Q4 and 2025.
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Record revenues and GMV were achieved, with strong growth across all segments and continued profitability improvements. Guidance for 2024 remains robust, with positive free cash flow expected and long-term margin targets reaffirmed. FX headwinds and competitive pressures persist, but operational momentum is strong.